Seriously, you peons have to just ignore the prices you see at the gas station, grocery stores, restaurants, car dealerships, clothes stores, homes/renting, interest rates, etc and so on. It’s all fake, you know, and Biden has been hooking you up
Why Americans are feeling bad about inflation despite a good economy
Americans despise inflation.
It’s a loathing that colors their perception of the economy and their personal finances. And even if the Federal Reserve hits its so-far unmet inflation target of 2%, it won’t be enough to soften that revulsion for most people.
In fact, if it were up to them, Americans would choose no inflation at all.
Those are among the findings from a pair of recent studies exploring how Americans feel about inflation, whether those feelings can change, and what policymakers should make of that sentiment.
The biggest gripe people have about inflation? How it cuts into their standard of living, forcing Americans to adjust their budgets by buying smaller quantities or lower-quality goods.
Um, well, yeah? I’m not thrilled paying $2.25 for a can of soup that cost $1.50 before Biden took office (in fairness, as always, the root cause is China and their coronavirus. Biden’s policies made it worse). Nor a lot more for ice cream. The guitar I bought in 2020 now retails for $100 more than it did then.
Case in point: A record share of Americans say that inflation remains their top financial concern, per a recent Gallup poll. That has weighed down confidence despite robust job growth since the start of 2021 and an unemployment rate that has stayed below 4% for 27 straight months.
Well, yes. Because we have eyes. Meanwhile, the article fails to substantiate the headline that the economy is good
Understanding preferences shows that folks don’t experience inflation in the same way, an important consideration for a central bank trying to keep the economy on solid footing. Even the many measures of inflation vary because they examine different expenditures.
“People with different incomes, as well as those living in different places, are facing very different inflation rates because of the basket of goods they consume or how they finance their purchases. This important variation is not well-captured by our standard measures of average inflation,” Stantcheva wrote.
The rich folks hobknobbing with Biden at expensive fundraisers aren’t bothered by paying a whole lot more for food. The middle and working class are. So, don’t sit there telling us that the economy is good. Inflation in decades past was caused by things outside of government (oil prices, easy home loans, consumer lending). Today inflation is largely caused by government spending. Trouble is higher rates don’t stop politicians spending money. The fed has no power to stop government spending so they are trying to offset government with less consumer to control inflation. Government causes inflation and consumers suffer not only higher prices but higher rates as well.
Our purchasing power is less. And it mostly has to do with government policies. And, I suspect these types of “don’t believe your eyes, the economy is awesome!” article showing up as the election gets closer.
Read: Yahoo Finance Seems Upset That You Peasants Have An Issue With Biden’s Great Economy »