Americans Think The Economy Sucks, Even If It Doesn't

[@heijd]

Don't conflate the stock market with the economy. GDP can also rise due to inflation. Rising consumption can also be due to inflation where people are eating into their savings, not because they have more to spend. These headline stats are not enough to say that the economy is doing great

[@quinnhall7283]

Exactly. Also, food and cost of living is getting more expensive and is increasingly outpacing wage growth.

[@matten_zero]

Anyone trying to buy a home or food can tell you the economy sucks. People are being laid off. The stats are manipulated.

[@Xostrich12X]

Stop gloating about all the new jobs being added. 95% of them are wage-slave retail/food service jobs. And the stock rally is only benefitting those who have a huge stake of their wealth invested in the market. Your average Joe with $300 in Robinhood isn’t any closer to retiring off of his investments. The economy is shit

[@derekh1791]

Yeah failed to mention that last month's 'great' job numbers was fully the result of part time jobs, full time jobs shrank by 60,000. We are seeing a white collar recession right now, and any one who is currently on the job search for that type of job will tell you the same. Any good paying job offering 100K has 100+ applicants within a day.

[@morenokv]

Exactly!

[@AhabLivesOn]

Wow, that was some truly poor lazy analysis. Here's an example of better lazy analysis with chatGPT. Percentage of Americans who own stocks: 60% . Excluding retirement funds and mutual funds what percentage of Americans own direct stocks: 10 to 15%. Of those holding direct stock what is the MEDIAN amount invested: $10k. Of those holding direct stocks what is the AVERAGE amount invested: $150k Percentage of Americans who have 150K to invest directly in the stock market... Hopefully you don't need chat GPT for that.

[@SonoranSol]

Guys, I love ya, but you need to dig deeper. Look up how many people make less than 120k a year combined income and then you'll know how many people are week to week and driving unfixed cars. And the lower the wage the worse it gets. When rent goes up every new lease your gut turns, because you barely could afford it as is. Credit card debt is up. Debt in companies like affirm is up. Why, so we can spend because we have to. And don't ask for a raise now, your company is doing layoffs, so are the companies your friends work at. And forget buying a home, that's a pipe dream. Just deal with the rent or eviction. But no, it's on me to "understand better." Come on guys. There is something going wrong here, find out and report why.

[@dianitasmiles]

The economy is great for the rich. I graduated in 22’. Student loans are crazy high. Im tryna buy a car but interest rate is so high! I’m trying to move but the rent increased so much I can’t move out on my own. Forget about owning a house. Groceries are expensive…so no it’s not all great for everyone.

[@jrwjr]

Did they not just report how the rich were buying more at Walmart l. See many mid level retailers closing stores.

[@derekh1791]

There is currently a two tiered job market, lower paying jobs which are booming and higher paying jobs which are slumping, a snippet from a recent business insider article: Among Vanguard's lowest earners - those who make less than $55,000 - the hiring rate has held up well. At 1.5%, it's still above pre-pandemic levels. But among those who make more than $96,000? It's pretty depressing. Hiring has slowed to a dismal 0.5%, less than half the peak it reached in mid-2022. Excluding the dip in the early months of the pandemic, that's the worst it's been since 2014. If you make a six-figure salary, it really is a bad time to be looking for a job.

[@shaleahmcneil4090]

For me, what's killing me in this economy, are things that keep going up. Even if it's just $10, if everyone increases their costs by $10. I'm out hundreds and have to figure out how I can get those groceries that I no longer have those hundreds of dollars for. That's just an example but feeling "squeezed" by greedy companies is how I feel. I know the economy is going alright but we as "normal, non elite" citizens feel like they just keep squeezing money out of us by constant increases in costs for daily living things. Just my opinion.

[@shaleahmcneil4090]

And thats not even mentioning the quality of said products going down so much. 😔

[@boogalookid9562]

as we all know data can be skewed

[@loganzrude]

Your POV’s are extremely biased towards a wealthy and older population, I find myself not wanting to watch this show anymore due to your bias in your economy reporting. I’m in a better position then most people my age and I still don’t see the economy as irrationally positively as you guys do by stating these surface level statistics that don’t pay attention to the nuance of WHAT jobs are up, and WHO takes those jobs compared to WHO has high investments in the stock market. Your display of the economy is a disgustingly obvious display of the increasing wealth gap and more people being stuck in wage slave retail jobs with no chance of increasing savings. YOU are sucking off the elite.

[@robbielanoue2690]

What does it mean when the economy is doing well? If it means that stocks you're invested in are gaining value, that won't excite many people. Most people in America aren't in the stock market. It's a thing for the rich. It's not taught in schools. I'm 37 and just now learning about it (thanks Scott Galloway). If you're not in the stock game and don't understand it - you won't be able to believe that the economy is doing well when you're living check-to-check and trying to keep up with rapidly rising prices of food and gas and housing. I think this is what explains the disconnect. But - I don't know anything, so don't take my word for it :D.

[@shaleahmcneil4090]

I think you are probably correct but I don't know anything either lol

[@autohelix]

If you have a 401k, or a Individual retirement account. You are in the stock market.

[@Barf-so3qy]

You can’t gaslight normal people into thinking that the economy is good when it’s just not. The price of rent going up makes the gdp go up - it’s not actually good for the economy.

[@AnnCatsanndra]

Quite simply, the further away the "Health of the economy" gets from. The constituents fulfilling their basic needs like food (overpriced) water (it's all filled with plastic now) and shelter (houses are increasingly used as a speculative asset than as the protection they were meant for), then the further away it has gone for any practical usability for the public. Basically, this assertion about the economy is offensively misleading and is chunk of why I finally unsubbes from the newsletter. Maybe the "national economy is fine" but evidently that's not representing how the majority is experiencing daily life.

[@manuelsuastegui4225]

The economy is doing good because we are spending more for items(sarcastically). A little contradicting with the economy and not able to buy a house. Or maybe I didn’t understand the topic

[@87KNOTSaka100MPH]

So basically, if you sold the Messi napkin, you could afford a median house in California.

[@richardhurst6031]

Almost Friday

[@Liberteabelle]

Oooookay! I am totally onboard with the Cow game hahahaha! We love road trips and car games in our family and can’t wait to try this. Thanks!

[@alanyoung159]

Let's Ride!

[@willthethrill8661]

Love the show keep going guys!!!

[@jrwjr]

Simple. I have been unemployed for over a year. I could take a lessor job, but I was not over paid or under skilled before. Recession is just a manipulated number. Inflation and employer retooling until election. Let's get someone in office that can bring America back.

[@autohelix]

A lot of people seem to forget Gas prices were over $4 a gallon in 2008. I'm sure in some places they were over $5 a gallon. Adjusted for inflation gas is actually not that bad at all. I understand complaining about grocery prices but not gas prices.

[@tobydoyhowell]

Nvida is just insane at this point. Juggernaut

[@ValorieBeigetone]

Lies

[@ValorieBeigetone]

Big lies