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Why Americans feel gloomy about economy despite falling inflation and low unemployment

14 Comments
By CHRISTOPHER RUGABER

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fxgaiNov. 21 09:47 pm JST

Inflation has reached its lowest point in 2 1/2 years. … Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy.

The inflation rate coming down doesn’t mean prices have come back down.

It will take a long while before people can readjust to the higher prices wrought upon them by political incompetence.

There is no proof the inflation was due to excess spending: we had a pandemic where a lot of people reassessed whether they want to continue in crappy jobs for low pay.

-1 ( +0 / -1 )

Inflation has reached its lowest point in 2 1/2 years. … Yet according to a raft of polls and surveys, most Americans hold a glum view of the economy.

The inflation rate coming down doesn’t mean prices have come back down.

It will take a long while before people can readjust to the higher prices wrought upon them by political incompetence.

1 ( +1 / -0 )

Macro people: Inflation is low, unemployment is low, y'all should be happy and go spending spree

Micro people: with what money !? Wages are low, pay rents, bills, and foods, 1000yen left in the bank.

Macro people: Inflation is low, unemployment is low, I've done a good job, you micro people should buy less avocado toasts!

1 ( +2 / -1 )

AttilathehungryToday 05:11 pm JST

No wars? How about Biden wasting more than $1,000 per American family on the fiasco in Ukraine?

Yes, sending weapons is not the same thing as sending soldiers. You're going to have to admit you are calling for surrender over the precious dollars and nothing else. Well maybe you are just parroting what the orange traitor tells you to.

Now, about those economic numbers.....

What about them?

-1 ( +1 / -2 )

No wars? How about Biden wasting more than $1,000 per American family on the fiasco in Ukraine?

Now, about those economic numbers.....

-2 ( +2 / -4 )

AttilathehungryToday 03:58 pm JST

Still no wars and it is being done by projecting strength rather than engaging in treasonous appeasement.

0 ( +3 / -3 )

TBH people are looking back with fondness at the years of the Orange Cheetah:

$2.00 a gallon gas for your car

3% mortgages

2% inflation

Five dollar foot long sandwiches at Subway

No wars

Record low illegal immigration

I mean yeah, the guy was an ogre in his personal life and probably hasn't read a book since he was in university, but he somehow got the job done.

-4 ( +2 / -6 )

EastmanToday 09:28 am JST

its simple.

US economy have survived from taking of benefits from other countries.

Ah, I see. All mysterious siphoning from countries that can't be pinned down.

control of world trade by manipulating of US currency rates.

The only excess "money printing" was via quantitative easing which is ending demonstrably.

in last decade no one war of conflict ignited by USA have ended with US victory.

no big war-no big business for US industry.

The US government has to pay for those weapons. Not exactly a growth industry or Russia would be on top of the world in gdp per capita.

get it right.american century is well over now as world is not static one but undergoing dynamic changes-not in favour of USA and their own national interests.

I guess someone forgot to tell us that, as our money and military are as strong as ever.

BRICS.lost wars.lost influence in many parts of world.and dont forget rising antiamericanism especially in Africa.

Yes, BRICS has lost influence in many parts of the world due to the corrupt BRI initiative of BRICS leader China. Propaganda in war torn Muslim countries in Africa is not really a concern as US popularity globally is much greater than Russia and China.

4 ( +4 / -0 )

its simple.

US economy have survived from taking of benefits from other countries.

control of world trade by manipulating of US currency rates.

in last decade no one war of conflict ignited by USA have ended with US victory.

no big war-no big business for US industry.

get it right.american century is well over now as world is not static one but undergoing dynamic changes-not in favour of USA and their own national interests.BRICS.lost wars.lost influence in many parts of world.and dont forget rising antiamericanism especially in Africa.

-8 ( +0 / -8 )

Listened to a great podcast exactly about this topic, and the host said that with the unprecedented inflation of sometimes 9% in the past few years, sure it has now come down to about 2.5%, (I don't believe there was 0% in the last reporting months), but that still means that prices are up almost 11% since 2019! That is a huge increase and that is why people are feeling terrible about this economy.

As for Japan, we can expect the same thing to happen here as well, now that inflation is increasing, with no signs of it going away, but we are hit doubly as there is little or no salary increases!

3 ( +4 / -1 )

marc ladenToday 07:38 am JST

Why Americans feel gloomy.........

The best solution is they should carry a photo of Biden and Harris in their pockets all the time. Whenever they feel gloomy take out the pictures and say loud that go for second term ... then I am sure all the worries will fly away...

This but unironically. The orange fascist will surrender everything abroad so there is no one left to trade with.

2 ( +7 / -5 )

Why Americans feel gloomy.........

The best solution is they should carry a photo of Biden and Harris in their pockets all the time. Whenever they feel gloomy take out the pictures and say loud that go for second term ... then I am sure all the worries will fly away...

-4 ( +3 / -7 )

The disparity has led to befuddlement, exasperation and curiosity on social media and in opinion columns.

With good reason.

New tech workers living in their cars. School lunch debt and medical bankruptcies. The contradictions of American capitalism are rife and they are not being addressed by the neo-lib admin.

Giving an opening for conservative fascists.

1 ( +6 / -5 )

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