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this post was submitted on 06 Nov 2024
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No Stupid Questions
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The economy is actually great. Most people just don't have the brains to understand why when they feel like it isn't. Sentiment is king.
What? Who is the economy great for? Many Americans are one missed paycheck from bankruptcy.
Which is exactly my point. Many Americans don't feel like the economy is better in their own lives. But, overall, from a macroeconomic perspective, the economy is doing great.
Who gives a fuck about the macroeconomic perspective
The economy, to any person with a pulse, means "can I afford to live". If the dictionary definition of an economy is different, then speak the language of the people.
Then you have to be willing to do economics like in Europe and redistribute (the GDP) wealth to basically make everyone middle-class. But Americans are also unwilling to do that. That's "socialism" or "communism" or whatever label conservatives like to add to it. The US may have a somewhat higher GDP than many European countries, but most Europeans feel much more financially secure than most Americans.
This is the kind of out of touch thinking that is why Harris lost.
It literally doesn’t matter how great the economy is if people are struggling, and they are.
No one gives a shit about how much the GDP grew, they can about the price of eggs and milk.
Harris repeated biden saying the economy is great and ignored that there are people struggling and focusing in on messaging to help them.
I know her policies might have helped the average American, but no one reads policies anymore, unfortunately.
I’m a Harris voter.
If you look at the average salary, it has kept up or exceeded inflation, but it has taken some time to catch up. But again, it's the sentiment. If people feel poorer, they are poorer, even if they are not actually poorer.
Looks a lot like lack of awareness to me. The price of pretty much everything has at least stabilized or is down from the peak. Individuals are better off today than recently.
However prices are shockingly high compared to four years ago. Many are worse off than four years ago. The economy is trending much better at the individual level but people can’t get past the four years of buildup to realize that it has turned around
The economy is stable and we’re at a new normal. People are hoping to take things back to how they were before even though that’s not how economies work.