While out at dinner last week, a friend turned to me and said, “I heard some positive news about the economy and a new bull market today. Yet it seems like nothing has changed for the better with the finances of most people I know. My sister in money nerdery… what, pray tell, the fuck?”
What the fuck indeed!
According to the U.S. Census Bureau, more Americans than ever are struggling to pay their household bills. Housing is currently unaffordable for half of American renters, a record high as reported by the Joint Center for Housing Studies at Harvard University. And analysis from the Federal Reserve Bank of St. Lewis shows that Americans’ financial stress due to credit card debt has reached levels not seen since the Great Recession of 2008-2009.
Yet despite all of these extremely fucking dire stats, there’s apparently reason to celebrate! For we have entered a new bull market! That’s way more important to the economy than [checks notes] rising eviction rates and a massive baby formula shortage, right? Right?
… right?
Hello, class inequality, my old friend. It’s time we got super bummed about you again.
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