General Discussion
In reply to the discussion: Add my "what went wrong" take to the pile [View all]Johnny2X2X
(21,882 posts)It's these new realities that are so powerful.
The economy for instance. Inflation is 2.1%. UE is near full employment. Wage growth is robust, especially at the bottom. It's just factually one of the best economies in 50 years and certainly better than the economy under Trump, even before Covid. But these infortmation bubbles punch right through that, and even allow a person to ignore their own situation and swear up and down the economy is awful. You saw this in polling, people would answer like, "Well, yeah, my own financial situation is greatly improved, but I'm not better off because the economy is so bad."
And don't think this won't work in reverse too. The economy will go into recession and these same people will be talking about how great the economy is, they'll even set aside their own financial problems to obey their information bubble. "Sure, I lost my job and my car and burned through my savings, but the economy is so great, so I'm better off." All the whle wages will go back down, unemployment will rise, and inflation will soar. But Trump will just say, "greatest economy eva!" And the masses will roll up the rags on their sleeves and applaud.
They have harnessed a horrible power and we're just seeing its effects now.