Why Do People Think the Economy Is Bad?
An attempt to understand the negative perception on the economy
There are many great economic indicators, such as jobs, GDP, and low inflation, yet most people perceive the economy as bad. Why is that? Well, it’s complicated. Let’s look at the factors.
Factors Influencing a Negative Perception of the Economy
Food costs a lot.
Oh, I guess it’s just one thing. See, food costs way more than a couple of years ago. And people have to buy food like multiple times per week. So they see how much it costs constantly. And while inflation is down, it’s still going in the “more expensive” direction when people would like it to go the other direction as they’re hurting every single time they buy food — which, again, is constantly.
If you’re a big-time Democratic political consultant and this helped you better understand the public, you owe me one million dollars.
It's this kind of in-depth analysis that keeps me coming back. You can't argue with the facts. I mean, you can, but then you just look like a doofus. The only people who think food doesn't cost more these days have cooks and never darken the door of a grocery store.
It’s not how much money is being made. It’s how it is distributed.
Paul Krugman is doing great. His servants live in the same house as he does, but occupy a different economic strata, one that dirtbags like Krugman have never experienced and cannot emphasize with.