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https://freedium.cfd/https://medium.com/bouncin-and-behavin-blogs/why-does-the-economy-feel-so-bad-7c9e8dc2149b>
"It's one of the biggest economic and political problems in America — people
are mad about the economy, even though economists think the economy is pretty
good.
This is one of those moments that may show that the cold-blooded science of
economics, which we have made one of our primary intellectual tools for
explaining the world, can't explain everything. What's the point of a "good"
economy if people hate it? I doubt that a bunch of eggheads waving graphs and
charts at people is going to get them to think any differently about their
situation in life.
And yet, the economists have a point. Almost all of the statistics are great!
American GDP is growing fast, consumers are spending a lot of money, wages are
up, and inflation is down. Especially given the massive disruption of a global
pandemic that shattered some industries and transformed how millions of
Americans work, the last few years could be considered a masterclass in
macroeconomic management. To have made it through such a disruption with only a
temporary spike in inflation, and to have brought inflation back down to 3% so
quickly without causing a huge recession, is a pretty remarkable outcome.
Nevertheless, Americans seem to be mad about the economy. Consumer sentiment
hasn't gotten anywhere close to pre-pandemic levels. A plurality of Americans
say that they're worse off economically under Joe Biden. Only 19% of Americans
think the economy is good. So why does the economy feel so bad when it looks
pretty good on paper?"
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
