Americans are unusually down on a solid economy. So far, they aren't spending — or voting — like it.
Americans are unusually down on a solid economy. So far, they aren't spending — or voting — like it.
Both parties are laser-focused on voters’ sour economic mood, but it’s anyone’s guess how today’s pessimism might play a year from now.
who gives a fuck about a solid economy if I can't afford anything? Who is it solid for? The fucking shareholders??
DING DING DING. The 10 or so mega corporations that are left after all the consolidation 2 Electric Boogaloo are making BANK so yeah... We good. /s
wages are finally rising faster than inflation
This is macroeconomics, not microeconomics.
Personally, I don't really feel much of a difference. I pay a bit more for goods and services and I get paid a bit more as well.
Inflation is systemic and in everything. Food. Housing. Healthcare. Debt.
Americans are spending more. Doesn’t mean Americans are buying more. Wages haven’t kept pace for most the bottom half of the workforce, the jobs they keep touting are low pay, service or gig work types.
Remember, the stock market isn’t the economy. Just because businesses are doing okay (doing amazing, actually, record profits!) doesn’t mean the people are- where do you think those profits come from?
People will give pretty much anything to not be hungry, sick or homeless and insatiably greedy executives know this.
The only reason people have anything left after rent and food is because it's not viable for landlords and companies to work together to strip you of every cent.
I'm no fucking expert, but I've been around this shit show of a world long enough to realize that "economy good" equals Stockmarket is good which translates to rich people are still getting richer so fuck NBC
My company is expanding, and my career is actually going in a direction I want, but I haven't seen an equivalent rise in my pay.
So the economy might be good, but my income remains the same, and that doesn't make me feel like the economy is all that great.
I've gotten about 10% more the last three years but I've changed jobs once, changed positions twice at the original job, interviewed a dozen times for jobs where no one would commit on a salary.
It just took a lot of work. Work that I did and was a fight the entire way. If I'd stuck around in my original position I'd be at 2.5% raise each year give or take a half point. That's not beating inflation 10 years ago let alone today.
The vast majority of Americans are worse off economically than they were before the pandemic. This was in the news just last week. NBC says "good economy" and the people say "pull the other one".
Well, that may be true, but national economics are not really about anecdotes and individuals. It's about data and society as a whole.
Maybe it's because normal every day working Americans are actually living in this economy, not actually profiting off of it.
Are low wages and high rents not part of the economy being good or bad?
Silence peasant, go back to buying overpriced necessities and don't question how an 11% inflation rate translates to a 100%+ markup on products.
Sure, the train track ends shortly at a cliff, but why aren't Americans enthusiastic about how the train is currently moving swiftly over a good solid trestle?
That is a wonderful analogy!
Voting like it? Who the fuck changes how they vote based on the current economy
You'd be surprised how many Americans literally switch their votes based on the gas prices in the week leading up the the general election.
If the incumbent president is a Republican, fill up on the Monday before election day. If the incumbent president is a Democrat, fill up as late in the week as you can after the election.
You'd be surprised how many people literally switch their votes based on the gas prices in the week leading up the the general election.
A fast food combo is one and a half hours of work at minimum wage right now today.
Look you can't just declare we have a good economy.
"solid economy"
Because the indicators if what is healthy or unhealthy for the people are broken.
These articles can say whatever they want but I'm glad most people are waking up to the idea that things aren't "solid"
Why get paid in cash to buy food, rent, etc. when you can be paid in
exposureeconomy!It's because this "solid economy" is only filling the pockets of a select few while everyone else isn't even keeping up with inflation.
Eh. Whatever. I can’t see my way to ever voting for the republican traitor filth.
People expect the cost of things to go back to what they were before COVID.
This is the best summary I could come up with:
In fact, in a note to clients Wednesday, Goldman Sachs declared “the hard part is over” for efforts to shore up the global economy, predicting that inflation would continue to ease in 2024.
The bank’s researchers now expect a mere 15% risk that the United States will tip into a recession next year, following a spate of forecasters, including those at the Federal Reserve, voicing growing economic optimism.
Republican presidential candidates who debated in Miami Wednesday night looked to reinforce these views, making the case — sometimes by misrepresenting how gas prices and wages have trended — that the economy isn’t working well with a Democrat in the White House.
The likely explanation is a gloomy soup of two major wars, ongoing domestic political divisions, a still-recent pandemic and price pressures that have slowed down dramatically but rarely reversed.
President Joe Biden has been pounding the pavement to trumpet $5 billion in new investments to juice rural economies, hoping that voters will reward him and fellow Democrats for infrastructure projects ramping up across the country.
Meanwhile, Republicans have raced to pin voters’ frustrations over high prices on “Bidenomics,” the term that the White House has used to try — with uncertain success — to brand the administration’s economic policies.
The original article contains 880 words, the summary contains 209 words. Saved 76%. I'm a bot and I'm open source!
I love how they put this bit at the end like it's not the entire story:
And of course, the country’s yawning economic inequality means that robust overall consumer spending figures can’t help but mask wide disparities in households’ finances. (“There’s no one, monolithic ‘consumer,’” Hamrick noted.)