The World Bank's Forecast
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- Опубликовано: 26 сен 2024
- According to the World Bank’s forecast, the global economy is in better shape than it was at the start of the year, thanks largely to the performance of the United States. But, the sunnier outlook could cloud over if major central banks - including the Federal Reserve - keep interest rates at elevated levels.
I love the random fixation on beef, its what makes these shorts better than the rest
Food wars are about to happen, and she has been warning about it. She just worked it in with a small phrase here. She is a genius!
I mean if you’re not a vegetarian you prolly eat a fair amount of beef. So it is relevant.
beef is a major food in the Southwest. especially knowing about a third of the population doesn't eat pork for a variety of reasons. its also a good way of gauging the cost of production of food goods.
Texas will go into full meltdown if they can't get brisket.
@@themastermason1 Texas is already on a full meltdown when it isn't freezing over
As weird as it sounds, the beef part is very noticeable. Whenever we went out to buy groceries my family used to buy 2 packets of ground beef, now we barely buy beef unless it's on sale or there's a deal.
Beef is a natural resource inefficient commodity.
@@theBear89451Sure, and my family has moved away from meat because of those environmental inefficiencies, but it’s still an easy benchmark for most mid to low income Americans.
@@healdrop9313 The Bigmac is better because it involves real estate with zoning laws, labor, and process automation. Beef is too dependent on oil price instead of a good mix.
Beef was the biggest increase for our house. It is currently 1 dollar a pound more than it was several years ago. Eggs have normalized here, chicken is 40 cents a pound more, but fruits and vegi's are largely unchanged and last year flour was more expensive. Once you move on to more processed products I noticed that shrinkflation is becoming a bigger thing, with smaller portions or smaller amounts. Looking at the increase costs of those items as well it shows more a trend that reflected Covid rates and not so much inflation rates which seems artificial.
Food has always been too cheap in America, leading to the crazy portions and obesity - other countries pay a much higher % of income on food. Rent and healthcare in America is too high.
still waiting for the wealth to trickle down
🙏🙏🙏🙏🙏
That happens every day. Now you understand why you always feel broke, sticky and confused?
Fun fact, trickle down economics used to be called horse and sparrow economics. Because the horse would eat an apple, then the sparrow would peck seeds from its ____
the rent is what’s pissing off americans.
@@beaksters Correct! The Majority Report had a great segement on that, showing that despite economic recovery, because more percentage of an income is being taken up by rent and housing, everything feels more expensive.
if all the new generated wealth isn’t going to the majority of people, then what does it matter?
The point is that's not a "bad economy" problem, it's a corporate greed problem.
Well standard of living increase thanks to new tech. Us is like 50 techs ahead of the rest of the world.
Were literally in the start of the ai boom that can bring about ubi and shorter work weeks.
@@justinchase6666 You do realise that almost every tech innovation anywhere in the world , is shared everywhere in the world due to increasing globalization?
@@justinchase6666 what tech are you speaking of in the last 4 years that justifies the cost of living increase. The only one i can think of is covid mrna vaccine which doesn't explain oil, groceries, rent, insurance increase.
@@justinchase6666surely you’ve seen those viral videos with captions like “China/Japan is in living in the year 2050 😱🤯”? American tech is limited to the ultra rich. AI implemented under capitalism will only worsen our lives, just like innovation did for the luddites.
There are two separate economies in the US, those with assets and those without. When 93% of the market is owned by the top 10% and 50% of adults cant scrounge up $1,000 for an emergency IT IS A PROBLEM
Hi
Sounds like a clear delineation between professional victims and those who actually get things done.
@@RS-ls7mm and what is the motivation of millions of people to cause their own suffering?
@@sparksfly6149 Laziness or just not that bright. Its always someone else's fault when they fail.
@@sparksfly6149 This is demonstrated by the fact that the average wealth generated by one person in this world is only around $8K/yr. To think everyone can live well is just delusional.
“Prices are high and my salary didn’t keep up with inflation”.
“The economy grew though.”
Why the **** should I care. The “economy growing” is not a metric that matters to me. It may or may not affect the metrics that matter to me, like food and rent costs and my salary, but i can already tell you the net effect of those things and it’s negative. I’m sick of politicians focusing on economic growth as such good news. Rent in my city went up 30% in 4 years. Talk about something that directly affects normal people, and do something about normal people problems. None of this trickle down Garbage.
Yeah man, these people are so fuckin out of touch. I make a decent amount of money for my age, but I pay $2200 a month for an 800 sq ft 1 BR apartment. The cost with basic shit to survive is astounding. I just paid like $27 for three pounds of ground beef. I swear every month I buy the same shit but it's another $20 every trip to the grocery store.
The economy growing while male median income stagnates for decades means that it's an income distribution problem.
If the economy shrank and no one had any money and your salary didn't go up, that's rough.
If the economy booms and rich people have money up the wazoo and your salary didn't go up (or even went down, accounting for inflation), that means that it is absolutely a problem of income distribution, and I think government action needs to be taken to solve it.
Believe it or not, the economy dictates whether or not prices and wages go up and by how much.
Right but that would slump economic growth even though the majority of Americans would actually benefit from a controlled slowed economy
In theory, but if the economy is doing well ask yourself why prices are still high and your wages haven’t been raised. It’s very simple, “the economy” is code for “stock portfolios” and unfortunately at this point you either are wealthy enough to be involved with the economy and profit, or you aren’t and you suffer so others can profit. It’s a broken system, and I’m tired of hearing how great the economy is while everyone around me begins to starve and lose their homes. I don’t care that Jeff bezos can now afford another Yacht, or if Elon Musk can build another death trap of a vehicle morons will buy, I care that those around me everyday are struggling
It's interesting how the conversation is pretty much
The lower classes: "We can't afford to live."
Banks: "Yeah, sure, whatever; but hey look at that Economy!"
its simple son, trickle-up economics, *ca-ching!*
@@Vienic2 I just call it "trick economics", because that's what it actually does.
Is that true?
We're all so rich, everything is going great!
"Can we own a house or buy a new car?"
RECORD ALL TIME PROFITS
same as its always been
I get annoyed whenever anyone talks about inflation, because this has all very obviously been price fixing the whole time. The executives of these companies should be facing jail time for price gouging.
One of the most brilliant things capitalism bas accomplished is convincing poor people that other poor people are why they’re poor.
It’s always someone else’s fault when you don’t want to blame the current administration.
Same.
It’s corporate price gouging that’s the problem! It’s almost as if companies are purposely keeping prices high to squeeze out as much money from the consumer and pin the blame on the current Administration!
@@ethantrent297And you blaming the administration is the whole reason people are price fixing, they are draining your wallets to convince you to vote who THEY want.
The reason beef is so important is because beef used to be really cheap, hamburgers, being a staple food because: inexpensive! My mom remembers a time where you could buy a large quantity of beef for very little money and freeze it to have a lot of food over the course of a long time (paraphrasing this! Been a while since we discussed this!) but now people are struggling to be able to do that.. and have been struggling to be able to do that for a very long time..
Also, McDonalds is too expensive now. It is supposed to be an quick and cheap option for take out, but I can’t seem to spend less than 60 bucks when ordering for me and my kids.
@@jamessloven2204
Your best bet with multiple kids is pressure cooker meals.
Super easy to make, large quantity, and cheaper than takeout. Also faster than stovetop.
Any online marketplace will have dozens of used Instantpots that you can use.
Good luck
So this means that only the Rich will always survive with or without the inflation. Who knew!
Plebs, maybe?
The rich benefit from inflation because it causes asset prices to rise faster than labor. This is why the rich want interest rates cut and government spending increased.
@@hyperslow556gungamersocialist economies always result in a few monopolistic leaders, whether government supported businessmen, politicians or bureaucrats, and an impoverished majority with no hopes of progression.
Inflation alone destroys progression. According to IRS stats in the 90s and 2000s households that are in the bottom quintile usually move out of that quintile in their lifetimes, and generationally poor people are more likely to move to higher echelons than rich people are at maintaining their wealth.
Inflation destroys this.
What's crazy is we all know the rich are hoarding all our money and yet people still want to vote for Donald trump, who literally passed the largest corporate and top 1% tax cut in history and is now selling campaign promises to the highest bidder among oil and gas lobbies.
Biden won't fix it unless he has supermajorities, but trump will make it 100x worse. Vote blue.
or they cause the inflation to cover their losses in covid.
The economy looking strong vs actually being strong.
If the bottom collapses, the entire thing is going down.
Just replace the poors with ai and robots smh
@@palmberry5576but ai and robots can’t buy any of the products
@@palmberry5576 Then the jobless poors will migrate out or start looting and pillaging and the state will still collapse.
@@LordDoofnot if they have Bread and Circuses to be content with
@@LordDoof robot riot police ez
"If we ignore the fact that a rapudly growing portion of the us population cannot afford to live the us economy is booming!"
Unemployment is at historic lows. Yes there is increased housing cost but this level of dooming is detached from reality
@@MongyBongy just because unemployment is low doesn't mean that all the employed people can afford to live. rent alone costs more than minimum wage, let alone food and other expenses.
@MongyBongy yea, we definitely don't have issues with government trying to kill off affordable energy, forcing useless green englrgy initials, soaring cost on groceries, and many more things killing off the common man's money... also, unemployment only references those unemployed and actively looking for work...
@@MongyBongyYou say "increased housing cost" like housing isn't a person's single biggest expense and hasn't increased multiple hundreds of percent in thirty years while income basically hasn't changed.
That's not like gas going up 50 cents. It's your largest, most fundamental cost PENTUPLING.
@@MongyBongy Unemployment has never meant "the number of unemployed in the US" its defined as the number of people who have filed for unemployment benefits. These benefits lapse. The term has been used by politicians for ages to pretend that it means the number of unemployed people.
Homelessness is not even on the radar. The economy is great for the well to do and well employed.
It's deteriorating for everybody else.
But thats kinda how its always been
@@pyroneutral -- Nah, not true.
Rich groups, businesses or individuals used to use their money for projects that would keep them in favour, bridges, parks, schools, donations and investments.. sometimes these never got a return.
But that doesn't happen anymore, the wealthy across the world now huddle up and lobby to keep people poor because it gives their money so much more power, and modern techonology and capitalism can effectively segregate them from anyone's concerns.
there used to be a limited factor of how much class of income could really change, you might be rich but you still had to live in a city to socialize, drive to the bank, and do business if needed.
But in todays world, or even just cell phones, using people to use people while you sit back and collect money is how they operate. And its made everything worse, including for the rich people. Theyre damaged and disgusting people now, very little exceptions
To be fair, this is a perspective of a New Yorker, but homeless people out here usually refuse state housing offered to them and rather live on the street. New York has right to shelter laws and a lot of the homeless here don’t use it because they know they’ll get in trouble for their drug use or are just mentally unwell. You can’t blame the state for what is ultimately their choice, if the state did force them to get housing then people would complain it’s against their constitutional rights or something.
@@riptyurass302it's common knowledge the government dosent regulate those places and it's full of stealing and drug use nice try at making it the homeless people's fault though and bootlicking that taste government boot most normal homeless people know to stay away because said government cant do their job properly 😂😂
For those confused about the beef thing, beef prices tend to be a good indicator of how well the farming sector is doing.
Food prices in general have been up recently, which isn’t great for those living paycheck-to-paycheck.
Oh yeah we know, me and my father barely get meats on a good week. Not to sound childish but I remember when I would go to school a tastycake was like 1.85 now it's almost a dollar more.
We're seeing record profits
So can we get a raise?
No, can't do. We're on a tight budget *buys a beach house.
No... "RECORD PROFITS": Dont you understand?
wages are growing faster than inflation rn, i’m not sure what can we get a raise even means in the context of all americans
@@Brockliywages are still at an all time low when compared to cost of living and worker productivity
@@jacobbruce1005 Wages are low compared to house payments and education, but not "cost of living".
@@theBear89451 yes it is, housing and other necessities are bundled in with the term “cost of living”. It’s basically any expense that a person has to pay in order to live. like I said before wages are the lowest it’s ever been with respect to worker productivity as well. Look up the article “wage stagnation in nine charts” by the economic policy institute. If you’re genuinely curious by what I mean that is
There is a major difference between reality and what the top 1% sees. Housing priceses are unbearably high and everyone is price gouging everything to the bare essentials like milk and eggs yet the 1% is buying up more more property and amasing more wealth than the other 99%. THATS what there talking about
Housing prices can easily be fixed by changing zoning laws, building smaller single family homes (house sizes have grown by 1000 sqft), eliminating non necessary, non life/environment threatening building regulations and promote building high rise condos and appartments than just single family homes. Many cities dont do this which increases the average rent and housing costs. I also highly doubt you could call a large outbreak of bird flu causing less eggs to be produced price gouging and milk prices have been below inflation from 2020-2024
@@homieinthesky8919 When there's literal popup houses and tiny houses that cost 150k, the logic of "just make them smaller!" is absolute bullshit. Even mobile homes, which were considered the 'cheap affordable homes' in the 90's can go for 200k+ now.
@@GummyDinosaursify so you are saying that the increasing house sizes have NOTHING to do with increased house prices when you INCLUDE the FACT that housing construction is at an all time low? You seem to think the housing issue is univariative. It isnt. There is a reason why i included multiple other policies of which you seem to have TOTALLY ignored.
Housing prices going up is great,it’s a reliable investment
@@homieinthesky8919 Most people don't even know where to find policies, so they get their information from social media, even though it's a Google search away. You're wasting your time arguing with them, no matter the cause, they want their "solution" to happen regardless.
I have a job. I've been living in my car for a year now. Recently diagnosed with diabetes. The medical bills are outrageous. $425 for a doctor to say "Ahh." And that's just my end.
I'm resigning myself to the fact that I'll die in my car.
How could you do this? To you own people?
Damn 0 comments that's weird
Welp that's weird only 4 likes well I hope you figure it out
I mean, it’s not the doctor’s fault that your country is incompetent.
If you live close to the border with Mexico or Canada, insulin might be cheaper for you if you can afford a day trip
Because they don't consider you people, only numbers.
Remember companies recorded record sales during the recession and prices still haven’t stabilized
30% inflation means 30% more in profits are necessary to maintain the same value ...
@@jeffklaubo3168 Profits have to rise by a larger proportion to keep pace with inflation. If you suffer a thirty percent decrease in the value of the currency you're trading in, you need to collect more than thirty percent more of it to keep your actual rate of profit stable.
So, for everyone watching, two things;
1. You're correct, economic growth is not a good gage of a nation's ease of living, quality of life, or income equality, it's really just a measurement of how well business is doing, and even that is really only a reflection of the largest players, regardless of whether or not the majority of business being done, is truly in benefit to the United States.
2. There are three major international central banks/development agencies; the World Bank Group, the International Monetary Fund, and the European Central Bank. The ECB is always headed by a Western European, the IMF is usually always headed by a European irrespective of region, and the World Bank is always typically headed by an American. As you can imagine, the "findings" issued by these agencies, even when it's in regards to the same issue, can vary wildly depending on the nation with the biggest hand in its continued existence and overall administration.
Thus, take it all with a grain of salt.
USA, USA! But seriously growing is due to Greedflation and nothing else.
This is like everyone getting an F on the test but you start celebrating because you got a D-
😂😂😂 not Biden pumping billions i to the economy to buy votes with loan forgiveness, grants for mortgages, subsidies, etc etc
You do not understand economics
Not a directed attack, just a ponderance: There is barely material support behind the USD. Where is the dollars strength right now after the Saudis stopped trading in USD for oil? Can anyone help me here?
@@MongyBongybased on your other comments the one who doesn't understand would be *you*
Inflation isn't "down", it just goes up but slower. After a freaking pandemic, we should at least expect that
Aka, everything’s great but it still feels like it sucks! Also, where the hell is all this money going, we know it exists and that the economy is doing well, but why can’t average Americans seem to find any of it?????
Hmmm gee I wonder who could be * cough cough * billionares ah what was that guyssss
If they took the top and bottom 1% out of the stats, it would be more accurate to the average person. The top 1% hoard an absurd amount of money.
Everything costs 50% more “okay guys it’s over the prices have stopped rising!”
“So can they go back down now, I can’t afford anything?”
“Nope! This is your life now 😊”
Hey, if I recall, this inflation isn’t real, and if it is real, the inflation is transitory, and if it isn’t transitory, the inflation is because of corporate greed. Btw, everything is great, vote for me.
The great tragedy of it all? Interest rates are about half as high as they need to be to get inflation under control. Instead of actually dealing with it, we're using metrics that exclude things that make it appear nowhere near as bad. Because we're using that metric, we aren't raising interest rates to be above the actual inflation rate, meaning we won't ever really get it under control.
The economy is so over-leveraged with debt that the only way inflation will be brought under control is to go into an actual recession. Not like in 08 where we used government spending to try and bypass the recession, but have the actual contraction of the economy and not rely on an expansion and call it growth. Since the government has chosen not to do that (because of the consequences involved in it) they have chosen stagflation, a worse option which will continue to push asset prices even higher while wages stagnate and inflation continues to rise. You don't "end up" with stagflation, you have to actively make terrible economic decisions repeatedly to drive a country to it.
@@flinchsohn2912 Careful. People might mistake you for an Austrian economist.
@@jamessloven2204 Well, if they're a Keynesian, they can say whatever they want. Anyone dumb enough to subscribe to that "school" of economics isn't worth discussing economics with.
The U.S economy is improving while the average Joe is still getting the shaft. If the country is doing well while the average American citizen has to deal with inflation, unemployment, and an ever decreasing standard of living, then the country is not doing well.
The economy is doing great BECAUSE you're not being paid enough to live and you're being charged out the nose for basic essentials. There is a CAUSAL relationship here.
Meanwhile our government is giving free money to senators so they can have a second house.
People are starting to see the inherent flaws in our system of capitalism. Hopefully the working people of America agree to do something about it soon.
yeah our system of capitalism isnt good, mostly because it isnt actual capitalism
@@badclassicalmusicYeah, the US system hasn't been particularly capitalistic since the inception of the Federal Reserve in 1913 followed by the adoption of Keynesian economic regulation following the Great Depression. At best, we are a mixed economy with moderately low taxation, relatively high regulation, and tremendous amounts of social welfare spending. In terms of government intervention, the Nordic countries are closer to a capitalistic model, although they have incredibly high rates of taxation and extensive welfare spending. Overall, complaining about capitalism based in the American experience isn't really complaining about capitalism.
@@NotThereJustGone Next are you going to tell me that "real" communism/socialism has never been tried?
@@Meloncholiac No, they've been tried and from the inception immediately led to horrifying oppression.
@@NotThereJustGone ahh people who have no clue what they're talking about yappin as if they did
The only beef I can afford comes in a paper bag with golden arches on the front.
"The economy is great"
I can't afford to live.
The beef part is important because almost every Americans sees that directly. We all go to the grocery, walk by the ground beef and think “I swear to god that pound was a dollar cheaper last month.”
Its those little things that make it impossible to feel confident in the economy rn
Beef is not a luxury item, yes it is essential, like the rest of the basic food items.
It’s far from a basic food item lmao, y’all are spoiled as hell
I'm doing fine either way, because I started going to the grocery stores when they open at 5am or 6am and stealing 40% to 60% of my groceries at self-checkout by only pretending to ring them up.
Been doing this for 2.5 years, not caught yet.
Eggs are like, x2+ as expensive as they were pre-covid.
Also, beef is a huge cultural food and is important to a lot of americans, even from the wide variety of ancestories.
"beef is a huge cultural food" If you can't afford it buy something else. I can't afford a luxury trip to the Bahamas, don't see me complaining. I find an alternative for a trip. I can't afford a Ferrari, but I maanged to get a car thats efficient in my budget. Sounds like the problem is some people aren't smart enough to determine what is a need and what is a want. if you can't afford something, find something else. Its that easy.
@@Blaze6432 I love that you're trying to help, really. But when my family has been doing THE SAME SHOPPING for years now and the cost has gone up by ALMOST HALF (from ~75€ to 130€), it's not our choices that are the problem.
I know you're just trying to help, but you're obviously just victimblaming the people who suffer not from poor choices, but from systematic exploitation.
It's the fact that greedy people try to rip us off for all we're worth and no ammount of budgeting is going to save us in this crisis.
@@Blaze6432 Nobody is out here complaining they can't buy a Ferrari, they're complaining they can't afford to pay rent, decent food and other bills and still have a little left over at the end of the month. It's really ignorant to say that tbh
@@randomeevee6048you inadvertently just admitted that your entire family has not seen any economic growth in years. Yeah, it’s definitely a you problem buddy.
@@Blaze6432shhh you’re speaking logic to a group of professionals victims. There’s no point educating the willfully ignorant
The economy isn’t growing, Scrooge McDuck’s Vault is.
Even Scrooge McDuck understood there's a limit to stinginess, he'd even be telling us this isn't sustainable.
Fun fact. Every time you hear the "eagle cry" it's not the sound of a bald eagle but of a Red Tail Hawk.
Yeah, “the economy” could be doing stellar, but I don’t give a shit my groceries cost more than a house payment.
Sounds like you aren't shopping right. Eat less and eat right, started doing both of these things and cut down my grocery bills by about 35%
@Blaze6432 hamburger meat should not have gone to 25 to 32 dollars per roll yes you can budget the fact is we shouldn't have to in the "best country" in the world.😂
@@cushy_steel1905brother you have to budget wherever on earth you live, unless you’ve got a job that allows you to buy whatever the hell you want. That’s not a country problem, that’s a you problem.
@@wake6000 This is cool, but you have to budget in a first world country to be completely miserable and without anything but the bare essentials while working your ass off.
That's because "the economy" isn't doing well. CPI Super Prime, which is what a lot of economists (especially in this admin) love to use, because of what it excludes. It does not count Housing or Energy prices in terms of inflation, both of which are rising at a fast that far outstrips wage increases and are the real driver of inflation. These metrics have been around since the 70s, all in order to paint a picture that was different from the reality in front of you. The economy under Carter was so bad that they had to change how they calculated inflation to say that it wasn't' spiraling out of control.
This isn't price gouging as much as it is the consequences of of expensive energy (by limiting how much was on the market, which was why closing Keystone XL Pipeline caused prices to go up in America, even if it wasn't American gas) as well as a shortage of housing (because it became wildly unprofitable and risky to build a lot of housing developments after the GFC).
Remember, before the collapse of the Zimbabwe economy, its stock market had reached record highs.
meanwhile these interest rate hikes have led to layoffs and underemployment.
Inflation is NOT DECLINING. It has risen by massive amounts, and CONTINUES TO RISE BEYOND THAT.
We're still getting screwed, just slightly slower than before!
Inflation is, in fact, declining. Inflation on a federal level and inflation on a cost-per-living too.
The issue is that its not decreased over a longer period of time, this is just measuring from the last couple years.
our problem is that our wages and benefits have not been matching inflation at all.. for decades.. if we managed a good living 5 years ago, and for 5 years inflation climbed, we could still be pretty well off, just a little less and a few cuts federally at worst.
But 30 years? Its why even the year by year inflation kicks so much now, because even a small percent of todays inflation is now matching your entire annual years value in some cases.
@@TheKiroshi increasing slower is NOT the same as declining.
@@Arclite02 -- its not increasing, it decreased from previous years, thats my point. Its increased, but inflation increasing isnt bad by itself. Inflation could be at 1000% a year, bit if we increase wages by 1000% a year, that would be great
flailing fluffy pens, a true hype man for the speaker
Man that's crazy, I can't afford a house on a nominal salary.
So glad that we're focusing on the only important stat, the price of beef
Much like the price of wooden pallets, beef is one of the economy items that can be used to index costs of a greater arm of the economy. It's like a canary in the coal mine.
Remember-it doesn't matter if the economy is growing or unemployment is low, if THE REGULAR PEOPLE CAN'T AFFORD A PLACE TO LIVE. If inflation is too high, no other benefit is relevant!
My mom said that (this was 1 year ago) ground beef costed $12 here in Indiana. I’m scared of what it is now
Too much growth too fast means its weak and could fall easily like building something as tall as you can without a proper foundation
Do you think the US economy (one of the most diverse in the world) has no foundation? You don't actually understand economics do you
@@MongyBongyThe foundation is slave labor, or damn near close to it. Wage theft and prison labor.
@@MongyBongy Thing is a world event could lead to it crumbling due to that. Even though people think a strong economy will not fall it will eventually. given the right events happen. Ironically enough one of the best things for the US economy could be getting pulled into a war. Because if you look at each War in the history of the US you see mass economic growth across all income levels. Because it generates that much money. But again going from WW1 the war economy only was the foundation until we saw the great depression hit.
@@MongyBongy *It's literally failed multiple times because people like you said things like you just said.*
Beef is only a two step process from farm to consumer. America also makes a LOT of beef, so it *should* be relatively cheap, as in _one of the cheapest food stuffs you can buy_ cheep.
The fact the price of beef is rising indicates that food prices are rising across the board. Long story short, most beef (ignoring high quality/artisanal beef) is poor people food. If poor people can't afford beef, they can't afford *food*
I think everybody here is kind of missing the big point, that being how most of the world is doing pretty bad right now and we're just doing less bad. The United States economy is strong relative to other advanced economies of the post-pandemic world.
Everyone's always asking, "where's the beef?" Finally someone's asking, "how's the beef?"
I’m down for lower interest rates as long as there is legislation that only families can buy SFH, cities should limit permits on remodels, and allow cities to ban AirBnB
Thought there's no legal precident to stop banning airbnb, i know a few cities have killed airbnb,or atleast tried
Seems like a greed problem rather then a economy one
Our economy is based on greed
I’m not an economist (yet I’m training to be one after years being a chef,) but I have looked at the beef prices of the company I’ve worked for for maybe 2 years now and we have seen no in statistically significant increase in the price of beef in the last year.
Can’t wait to read this report!!
High housing is not the fault of inflation. It’s inefficient infrastructure: like car centric sprawl.
Beef prices have been a subject of fixation for the Federal government since the start of the 20th century.
They say it's getting better, but it doesn't feel like it is.
Because when money goes up it will never go back down
Can confirm the beef.
I work in America at a meat processing plant in a grind room.
Literally today we had some come through with a custom pricing on it for $6.00 a pound for ground beef. That is crazy. 6 dollars a pound!
Better than garbage doesn't mean not terrible
"The economy is doing better." Then why doesn't it feel like it?
are we gonna forget that just because we are better that other countries/continents?, does not mean that we are fine? Its not a logical argument.
As always, I'm loving this series so far. It is such an enjoyable experience to watch these. I just want to thank you, and I'll eagerly be awaiting part 2 for however long it takes.
The stock market is not a good measurement of good or bad economy, is it?
I also noticed beef is getting way too high. Where I live, it's almost $6/lb. For just ground beef
As someone who used to work in the meat section of the grocery store I definitely noticed the sudden rise in the price of beef especially mostly due to corporate greed corruption a bit of embezzlement and cows that were slated to be slaughtered that didn't even exist, or something i'm fuzzy on the details.
Beef is literally the single most common food eaten in the US, of course it’s mentioned lol
"The economy is growing" for only like the people who do not even have to worry about it
*eagle screeches in American *
I love the unenthusiastic “let’s go” over the national anthem and eagle noises while in front of the flag
European coutries maybe had no real growth in econony strength, but at the same time experienced a lowered cost of living compared to last year. So the people don't really need growth to forebetter their standard of living
I love spreading misinformation
Bestie that's just misinformation. our prices are inflating like HELL too
@@randomeevee6048 They are but not as bad as USA. USA Big mac menu - 18 dollars, Croatia Big mac menu - 9 euro.
@@Klongu_Da_Bongutf are you getting your Big Mac menu? It cost about 10 bucks on average here
Sure it looks like the economy is up, but you're not counting on the debt going up as well. American's aren't just spending more, we're borrowing more!
The price gouging is so real
It's called k shaped recovery where things get so much better for the rich that it hides how terrible things have gotten for the poor
4 minutes ago is crazy
Im so glad i can see that wealth everywhere walking down the streets. Beautiful architecture, infrastructure, beautiful homes being built. Its a shame the record breaking amounts of homeless people litter those same streets and those houses will remain empty because nobody in their right mind can afford a three bedroom home anymore
What's does a red-tailed hawk cry have to do with America. That's not a Bald Eagle's cry
In a lot of documentaries, the Bald Eagle's cry is replaced with a Red-tailed hawk's cry due to, and I quote, "not sounding cool enough".
@@dragon-like-tendencies9519 i understand that, as I called it out. This alleged news agency shouldn't try to act like Hollywood
@@Depthcharger heh, fair enough, only the bird nerds like us lol
If the economy is better then I sure as hell haven't seen it, prices are still high as always and wages still at the same “barely enough to get by” levels. Economic power doesn't matter when the common man can't support even himself financially on a tight budget.
The world bank... our glorious rulers
I learned in my economics class about several alternatives to GDP (which is what economists generally use to evaluate the health of an economy), such as GPI (genuine progress indicator).
Our economy is only booming for the upper class, even on a global scale.
I am the 4th one
Usually a quick rise signals an equally quick decline, at some point we're looking at recession and it'll be a nasty one.
the funny thing is, moving away from towns that are heavily populated and have high costs of living would lower the overall cost of living. however if the area becomes aware that this is happening, it could react which then makes its costs higher for everyone. where i live my rent has gone up consistently but i still pay less then 300 bucks a month.
And major corporations haven't increased pay along with the inflation causing some people to have to pay as much as 70% of the income to utilities and rent
"Is beef essential to live?"
Me working out and trying to get big: "Y E S"
Fun fact: America’s economy is out growing Chinas for the first time in decades
A lot of this is that while inflation is declining, producing companies have largely kept their prices high or even raised them. Corporate profits are up, even as costs of manufacturing have cooled. And a lot of this us because genuine competition within nearly all markets is rare, less than a dozen parent companies own around 85% of all consumer products sold manor retail stores, maintaining functional monopolies that have no reason to price competitively.
Girl I love that head-nod dance so much
Whatever we do to fix the economy, one of the outcome metrics needs to be getting the gap between growth in corporate profits and individual wages to narrow dramatically. Asking for it to meet again may be expecting too much. But doubling compensation growth rate vs. productivity growth rate for a decade would be a start.
Higher interest rates prevent taking on increased amounts of debt, which is why they raised in the first place, because that debt was causing inflation.
The issue is that it’s being treated as a cure to the problem when it’s only treating the symptoms, the greater symptom being that our national debt is hurting the value of the dollar, and it will only continue to get worse
Ground Turkey is comparatively cheap. It's got it's own separate taste, but also fairly neutral so if you're mixing it with seasoning, herbs, sauces, diced veggies, whatever you'd use ground beef for, worth a try.
Beef is a good indicator of overall food prices because beef is so omnipresent in american foods and diets. When beef is expensive, everything with beef in it goes up, and by extension, everything made from cows leather also goes up. So when beef prices are high, that means everything from milk to leather belts are increasing too as the driving prices of cows pushes farmers to sell their dairy cows for meat when they begin to under produce. Gauging the health of the economy is difficult, nobody is saying otherwise. But when talking about the american economy, you can summarize the entire grocery cost of the average american with the average beef prices
In Japan and Europe they are having a hard time living in the cities now but in less populated cities or rural areas it is still pretty good if I remember, I think economy should be measured by how much most people can afford things from place to place rather than how high profits are
Beef is actually pretty important. Fast food places are often the only affordable and accessible food in urban food deserts and impoverished areas, and beef products like hamburgers are a major menu item.
My mom went to buy a small thing of strawberries from the grocery store. It costed 24 dollars
Beef is important because it's the staple protein for the middle class. When demand for beef plummets due to cost, the demand for other protein rises. Now you see a rise in the price of more affordable protein like chicken, pork, etc, which impacts the lower class.
I’m so sick of hearing “tHe EcOnOmY iS gRoWiN”. The only thing growing is the wealth gap. Stock prices and exchange rates mean jack all to average people. The only people benefiting from this are already on top and they are just going to keep hoarding wealth and consolidating power until they die and the system collapses. Then when that happens, the only people who will really suffer are the ones struggling now.
You’d be surprised all of the products that beef ends up in. And the number of people affected by that industry. It is VERY important. If it’s a traded commodity, it matters. Considering we make more beef than any other country in the world and we export about 1/3 of it, yeah. It matters.
Beef IS essential to live. For me. My family raises beef cattle on a small scale and we sell, trade, and live off it. Especially when prices at the store go up. Keeping beef has gotten marginally more expensive.
Getting my news while watching the expressions and mesmerized by the floofy pens.
I sure do love seeing all the fruits of this booming economy
Blame the corporations and their record profits for the high costs, not the government.
We are cattle farmers, and we kind of depend on the price of beef to live. Also most of the reason its gotten pricier is because things like gas get more expensive making every steps in the production chain more expensive
It is certainly a lesson to learn that a healthy economy does not mean a healthy population, just a workable population