CNN Poll: Half of Americans think the economy is getting worse, despite months of stronger economic news | CNN Politics
CNN Poll: Half of Americans think the economy is getting worse, despite months of stronger economic news | CNN Politics
Ding ding ding!
If a company can extract more value out of its workers while paying them less, that means the company is doing good. If this happens across a bunch of companies, that means the economy is doing good. All because they're getting more value from our labor than the crumbs they toss to us.
Groceries and gas is still inflated. Services are steadily raising rates and some people are still not being paid a living wage.
So is rent.
As others have already stated, the job market is fine, the stocks are fine, but the ability to afford living day to day is worse than I have ever remembered. Here in my cheaper state here are some random prices:
Exactly. It all depends on which metrics you're looking at, and some are not even being looked at, conveniently enough for those with more money.
Buying power is not going down. Do you at least have a source for that?
I think you might be talking about the productivity-pay gap but it has nothing to do with purchasing power.
Inflation adjusted wages are going up: https://fred.stlouisfed.org/series/LES1252881600Q
$7 for a bag of Doritos is ABSURD
That's because (yes, others here beat me to it) -- the economy is not the stock market. People's costs of living and wages aren't getting better, they're getting worse, even as giant corps have record profits and that is reflected on the stock tickers. If the average person was heavily invested early on in some of these corporate behemoths and could actually share in the rapacious profits, maybe things would be different... but that's not the case.
That's because no matter how well stock prices are doing, it still costs substantially more to buy groceries than it did last year, by way of example. The average American is screwed just as hard with a good economy as a bad one, and the poorer you are, the rawer the screwing.
No one measures the economy based on stock prices.
Inflation is going down, real wages are going up, unemployment is down.
Been to a grocery store lately? Looked at rent prices? How about clothing? Gas? Basic necessities?
People think the economy's getting worse because it IS for consumers. I don't really give a shit if a company is paying less for grain than they did a year ago if the prices they charge for the final product havn't gone down!
Until basic costs of living start decreasing, most people aren't going to see any positive change.
Yeah, this kind of headline has no bearing on 99% of people's lives, it's just corporate gaslighting to try to keep the population sedated.
This is my thinking. I guess it's good the economy is good but prices of housing and food are skyrocketing for me so I don't feel it lol
Guys, we just have to wait for it to trickle down! Don't worry, any decade now and it will finally pay off...
Months of gaslighting that they were doing great didn't work out so well. Being told wages are up, inflation down, economy great while wondering how they are gonna pay rent contradicted the desired message.
Agreed. Yeah wages are up and inflation is down compared to last year. But so long as inflation is higher than wage growth then people will continue to lose ground financially.
That's because it is getting worse. No one believes the bullshit that it's getting better. It's fake news.
I mean, I do. The job market is probably the best it's been in decades. The economy is doing extremely well. Food prices are high because two of the world's largest grain producers are fighting a war with one another.
My business and everyone else in my area that I talk to have all said this year has been slow for them as well.
The kob market was better 2 years ago
Corporate profits are relatively flat as a percentage of national income (it has gone up a bit since COVID): https://fred.stlouisfed.org/series/A445RE1A156NBEA
People always seem to remember to adjust wages for inflation but understandably because of media headlines almost never adjust profits for inflation.
The economy is fantastic for like the 10% of the country who owns 75% of the country's junk
Or maybe... just maybe... this is backwards and the notable thing is that statistics have been cited in support of a claim that the economy is improving, despite the fact that at least half of Americans believe that it isn't.
Remove the income of the top 1% of Americans from the equation and you'll REALLY see how good the "economy" is.
The stock market isn't the economy. Wall Street has a vested interest in us believing the opposite, however, so of course CNN and others will keep acting like they're the same thing.
Yeah I mean, gains on Wall Street may be considered "stronger economic news" by some, but it tends to matter for relatively few.
A strong economy doesn't rely on news stories about Wall St. If I see my money going further, I take it as strong economic news. If I see my wages go up, I take it as strong economic news. If I ever see rents go down, or housing in general become more affordable, or literally anything that affects most common people in a positive way based on some financial change, I'll take it as strong economic news.
Wall St making more money? Not strong economic news. Just stories that highlight how the rich continue to get richer and how out of touch one small subset of the population is from the rest.
just because the ball is bouncing doesn't mean it's getting any higher.
“Months of stronger economic news”. Oh you mean propaganda? The economy is getting worse. Price gouging and job losses are an easy way to gauge things.
People don’t need news to know how fucked up their shit is. All they have to do is experience it and then they’ll know themselves the truth. You won’t get this take from the news because they are gaslighting you.
Half of Americans are lying because reality doesn't suit their narrative.
If Trump had been president, this exact same economy would have been the best ever.
Alright, no one has said it yet. People's view of how the economy is often strongly related to their political party. So it wouldn't surprise me if half of people always believe the economy is getting worse.
By most metrics, the economy is still gloomy long term. It's a prediction over the course of years not months.
Consider the great depression, the economy was fucked months before the stock market crashed, but if you only looked at the stock market to determine that, you would think everything was fine up until it was too late.
I recommend watching wealthion and anyone they interview on their channel.
It's ok guys, I got my 2% annual raise so that should fix things... right?
Looking at the mid term election results, current voters seem to value social policy over economic policy (it should have been a right wing blow out, but it wasn't)
I wouldnt say bad news about the economy is due to an election cycle. The average boomer is a year past retirement now. There are going to be huge consequences over the next 10 years because of this as their children will need to take care of them, and there won't be more kids than parents which our society is used to to fill in the labor gap as the boomers leave.
Who’s it getting better for? Wall Street? Prices on shit keeps fucking going up. My paycheck ain’t.
Yeah, according to a Federal Reserve survey from earlier this year "only 63% of adults surveyed said they would cover an unexpected $400 expense using cash or its equivalent, down from 68% the year before. Many noted they would lean on credit cards or family members to manage such a bill. About 13% said they wouldn’t be able to cover such an expense by any means."
Upper middle class and above households have been doing great, but everyone else is in a bad way and getting worse.
A retirement account, stocks, or a pension are all just money on paper. Yeah, it's nice to see that number go up, but you either have to wait years to see it, or have to pay taxes once you get there, or both.
Not dismissing the effect that Biden has had on the economy, in spite of Republican fuckery. But it's a mistake to point at the Stock Market and tell people who can't pay their bills now that its all OK.
Oh yeah, those stocks are going to really help me pay for my grocery bill which has nearly doubled, or the massive increases in rent that just keep going up.
I'll never be able to retire. I'll be taking out the 9mm plan when I'm too old to work.
Ah, so not me then
So, for old people it's fucking wonderful.
Those things are very important, but unless you have some significant dividends, I don't think they help people with the level of price increase that we see right now.