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hillsons t1_j1a96k2 wrote

Reply to comment by JackMitcham in The US economy grew much faster than previously thought in the third quarter by barrinmw

I'm so god damn tired of it always being labeled bad news no matter what. GDP is down, terrible news, recession looming! Wait, GDP is up, oh no, the fed is going to raise rates, horrible!

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VegasKL t1_j1b3ira wrote

It's bad news "from the perspective of the economy" .. a healthy economy has a certain amount of unemployment, and growth.

When trying to cool it off to correct it, seeing more growth on top of it can be seen as a negative.

To the average person, it's seems like good news. We're living in very confusing times -- economic growth = bad, low unemployment = bad, massive layoffs in some industries yet still low unemployment = bad.

The problem is, it's not the wallet of the citizens, inflation is being driven by companies arbitrarily raising their prices (or reducing costs, features) because "everyone else is doing it." There's a reason some countries have a Windfall tax, so the government can step in and say "look here f***heads, you're gouging everyone."

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hillsons t1_j1bekbn wrote

I wonder what would happen if we stopped letting 30 people own all the wealth.

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laconicflow t1_j1at9vy wrote

Well, with the economy there's usually an upside to all news. Rates raised, short sell.

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