alt Hacker NewsHe saying that using a single metric like GDP isn't sufficient for claiming that the economy isn't tanking. The economy != GDP. For many regular people, it's terrible right now.
He saying that using a single metric like GDP isn't sufficient for claiming that the economy isn't tanking. The economy != GDP. For many regular people, it's terrible right now.
See my other comments in this thread that surfaces other metrics like: debt burden ratios, repayment behavior, GDP per person at market exchange rates, Adjusted for price differences, and Adjusted for prices and hours worked.
I'm not saying that Americans aren't under more economic strain than a few years ago (pre-pandemic), excluding 2007 - 2008.
However, I think if someone is going to claim the economy is tanking OR that Americans are fast becoming destitute or something extreme like that, you gotta give some quantitative data to back up that claim.