Economists Recommend You Make An Extra $5200 This Year As Corporations Report Record Profits Again

If you missed it last week while being too concerned about war, climate change, pestilence, and so forth, Bloomberg economists have announced that you should add another $5,200 to your budget this year to account for the rising costs of pretty much everything. They did not mention where exactly the average American is supposed to find that money as they continue to work long hours for stagnating wages as companies claim they just don’t have the money to give you a decent raise.

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Except, whoops, those same corporations are bragging about making record profits again, this time doing so well that the record-breaking goes all the way back to 1950, when the U.S. was still reaping the windfall from emerging as a world power after WWII.

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The viral headline comes from an Insider article on the Bloomberg report, which explains that due to inflation which may or may not actually affect the prices that corporations pay to make and distribute products, we can expect to shell out an extra $433 every month this year. This is expected to deal a blow to the stronger position in the labor market that workers have enjoyed recently, forcing more people back into garbage jobs they don’t want.

“Accelerated depletion of savings will increase the urgency for those staying on the sidelines to join the labor force, and the resulting increase in labor supply will likely dampen wage growth,” Bloomberg reported.

While the articles assure us that people saving extra money during the pandemic should offset these costs, a lot of people are wondering what savings they’re even talking about. It seems that a lot of Americans are tired of having ever more of their paychecks siphoned off for record corporation and billionaire profits year after year based on various excuses.

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Should that come out of my caviar budget, or should I downsize my yacht? Maybe cancel my third Monaco trip?

— tactical marshmallow drop (@DavidKaib) April 3, 2022

It means stop eating, stop doing anything, stop having anything

— Rogue Operations (@RogueOpsMobile) April 3, 2022

Doesn’t this just translate to “2/3 of our populace is on the brink of financial ruin”

— Syr Cooksbad, the Slim (@redinmyneck) April 3, 2022

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I like how you think.

— DragonTat2 ૐ 용 문신 (@DragonTat2) April 3, 2022

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I don’t even understand what this advice is supposed to mean. Budgeting is allocating the money you have. Budget $5.2k for what? Food? Housing? People can’t just choose to have $5.2k more in income For Everything they’re only ever allocating the same dollars. https://t.co/3qn4zTMtw5

— Worn Down Worker (@workingdog_) April 4, 2022

I AM VERY SMALL AND HAVE NO MONEYYYYY YOU CAN IMAGINE THE KIND OF STRESS I AM UNDER https://t.co/ESuuBpMEYr

— Mrs Majima, Hellcat of Kamurocho (@SailorTabbyCat) April 4, 2022

ah, yes… in the country where more than half of the population couldn’t even cover a $1000 emergency https://t.co/EEVBpvXND4

— some random nobody (@remrkblyrandom) April 3, 2022

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This is 3 months of my disability payments…

Maybe if I just go into a coma for a few months https://t.co/bdJqiVPYuf

— Lumpy Louise The US are the Baddies (@LumpyLouish) April 3, 2022

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*First Published: April 4, 2022, 10:25 am