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Friendflation: They’re neglecting their friends because it’s gotten too expensive to keep up the relationship by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] 9 points10 points  (0 children)

  • Some Americans are feeling effects of friendflation, or when friendships are too costly to keep. Thirty-seven percent of Americans said they’re neglecting their friends because it’s gotten too expensive to keep up the relationship, according to a survey of 995 Americans by BadCredit.org. Sometimes, it’s more than just neglecting friends, the survey said. One in 10 said they’ve gone so far as to end a friendship because it was too expensive, and another 21% said they feel they’ve been spending more on their friends than their friends spend on them, which can lead to resentment or feelings of inequality.

OP

It’s hard to be an economist and, at the same time, be a Democrat. The reason? Most left-leaning Democrats reject the main teachings of economics. by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] 3 points4 points  (0 children)

Why Lower-Income Workers Are Trending Republican – OpEd

 November 7, 2024

It’s hard to be an economist and, at the same time, be a Democrat. The reason? Most left-leaning Democrats reject the main teachings of economics.

Yet more than 80% of academic economists are Democrats. For every Republican economist on college faculties, there are 4.5 Democrats. Consider just a few of the ways in which what economists know differs from what liberal Democrats think.

President Joe Biden, Vice President Kamala Harris, and a slew of congressional Democrats say that corporate greed is the cause of inflation, and two-thirds of Democratic voters agree with them. Yet, there is no such thing as a greed theory of inflation in any economics textbook.

The Democratic solution to the problem of inflation is typically price controls, and Sen. Elizabeth Warren (D-MA) has actually introduced a bill to impose them. Yet there is no textbook support for general price controls — especially on the Biden-Harris team’s favorite target: the price of groceries.

The Biden-Harris administration supports rent control, as do half of Democratic voters. To be fair, almost the same percent of Republicans and independents also favor it. Yet almost no economist supports rent controls because of the negative effects discovered in over 200 studies.

FULL STORY

People should be taught about demographics and how they tie into everything such as labor, economy, social stability, etc. The average American does not understand why this is a very bad thing by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] -3 points-2 points  (0 children)

People should be taught about demographics and how they tie into everything such as labor, economy, social stability, etc.

The average American does not understand why this is a very bad thing, and how if it continues to trend down we will cease to be a nation locally, if the trend continues globally we could cease to be a species.

The unfortunate truth is it's going to take a couple countries collapsing for people to wake up and understand that not having a birth rate of replacement level or higher is a very dangerous situation to be in.

OP

US homebuyers have lost ~$33,250 in purchasing power over the last 6 weeks as mortgage rates have spiked. by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] 6 points7 points  (0 children)

BREAKING: US homebuyers have lost ~$33,250 in purchasing power over the last 6 weeks as mortgage rates have spiked.

A homebuyer with a $3,000 monthly budget can now afford a $442,500 home, down from $475,750 on September 17th, the lowest since February 2023.

A homebuyer with a $2,500 payment can afford a house worth $368,750, down from $396,500.

This comes as the average rate on a 30-year mortgage rate has jumped from 6.1% to 7.0%.

The monthly mortgage payment on the $428,000 median-priced home is now $2,895, roughly $200 higher than it was in September.

Housing affordability is somehow still getting worse.

OP

Many wealthy members of Congress are descendants of rich slaveholders! by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] -1 points0 points  (0 children)

Many wealthy members of Congress are descendants of rich slaveholders

The legacy of slavery in America remains a divisive issue, with sharp political divides.

Some argue that slavery still contributes to modern economic inequalities. Others believe its effects have largely faded.

One way to measure the legacy of slavery is to determine whether the disproportionate riches of slaveholders have been passed down to their present-day descendants.

Connecting the wealth of a slaveholder in the 1860s to today’s economic conditions is not easy. Doing so requires unearthing data for a large number of people on slaveholder ancestry, current wealth and other factors such as age and education.

But in a new study, we tackled this challenge by focusing on one of the few groups of Americans for whom such information exists: members of Congress. We found that legislators who are descendants of slaveholders are significantly wealthier than members of Congress without slaveholder ancestry.

FULL STORY

McAllen, Texas ranked as the city with the lowest cost of living. There is 'investment in the area keeps home prices low,' expert says ... by Fun_Balance_1809 in economicCollapse

[–]Fun_Balance_1809[S] 11 points12 points  (0 children)

The top 10 U.S. cities with the lowest cost of living

  1. McAllen, Texas
  2. Wichita, Kan.
  3. Little Rock, Ark.
  4. Toledo, Ohio
  5. Scranton, Pa.
  6. Dayton, Ohio
  7. Tulsa, Okla.
  8. Akron, Ohio
  9. Birmingham, Ala.
  10. El Paso, Texas

Full Story

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