The CPI is one of the very important factors that will( and usually) determine the November election. The good news is that it's going to continue to go up north. The reason for this continued upward movement is that all the reliable measures of the state of the Economy are in great shape. You name it, the stock market continues to break its own record, the GDP has been and will continue be in good shape, inflation has been trending down, Gas prices are down,etc. It takes time for these good tidings to permeate the electorate. People's feelings and perceptions typically lag behind these positive factors especially considering how inflation and gas prices were high last year.
I agree wholeheartedly, Dr.! The numbers are moving in the right direction, though the American public seems a bit slower to accept them.
That said, it amazes me that some of my friend’s Facebook friends (most of which are in Texas and/or “red states”) have a really screwy way of looking at things. “Sure, the numbers on crime are coming down, but you can’t walk down Melrose Ave. without concern that you’ll get jacked up!” “Sure, ‘consumer confidence’ may be improving as far as polls go, but I know lots of people that are hurting…”. In other words, they substitute their purely anecdotal information (which depends upon where you live, who you hang out with, what socioeconomic group you’re part of, etc.) and have extreme skepticism of anything that is actually based upon empirical data!
Man, we’re living in weird times, when we can’t even agree upon simple basic facts!
The one thing that isn’t helping is the boundless greed of the price gougers who have used the cover of inflation to mask record profits. While the CPI may go down, the price of a fast food meal or the junk food in the central aisles of the grocery store will stay high and convince many at the bottom and middle that the economy sucks.
We have two related problems affecting consumer sentiment : viz., some people are uninformed; some people are misinformed. Both result in many people failing to appreciate what an excellent job Biden, the Ds, &the Fed have done. The uniformed category has always been a problem. The misinformed category is a function of the right wing media machine that parrots the lies of Trump & his cohort. These folks live in a bubble of alternative facts. Sample right wing social media & you'll see ,e.g., they think inflation is increasing (when it's lessening) ; markets are down(when they're setting records); unemployment is up(when it's near record lows). I even see them boasting about how Trump kept the world peaceful when we had troops in Afghanistan during all 4 years of his term and Putin was waging war in Crimea
The CPI is one of the very important factors that will( and usually) determine the November election. The good news is that it's going to continue to go up north. The reason for this continued upward movement is that all the reliable measures of the state of the Economy are in great shape. You name it, the stock market continues to break its own record, the GDP has been and will continue be in good shape, inflation has been trending down, Gas prices are down,etc. It takes time for these good tidings to permeate the electorate. People's feelings and perceptions typically lag behind these positive factors especially considering how inflation and gas prices were high last year.
I agree wholeheartedly, Dr.! The numbers are moving in the right direction, though the American public seems a bit slower to accept them.
That said, it amazes me that some of my friend’s Facebook friends (most of which are in Texas and/or “red states”) have a really screwy way of looking at things. “Sure, the numbers on crime are coming down, but you can’t walk down Melrose Ave. without concern that you’ll get jacked up!” “Sure, ‘consumer confidence’ may be improving as far as polls go, but I know lots of people that are hurting…”. In other words, they substitute their purely anecdotal information (which depends upon where you live, who you hang out with, what socioeconomic group you’re part of, etc.) and have extreme skepticism of anything that is actually based upon empirical data!
Man, we’re living in weird times, when we can’t even agree upon simple basic facts!
The one thing that isn’t helping is the boundless greed of the price gougers who have used the cover of inflation to mask record profits. While the CPI may go down, the price of a fast food meal or the junk food in the central aisles of the grocery store will stay high and convince many at the bottom and middle that the economy sucks.
We have two related problems affecting consumer sentiment : viz., some people are uninformed; some people are misinformed. Both result in many people failing to appreciate what an excellent job Biden, the Ds, &the Fed have done. The uniformed category has always been a problem. The misinformed category is a function of the right wing media machine that parrots the lies of Trump & his cohort. These folks live in a bubble of alternative facts. Sample right wing social media & you'll see ,e.g., they think inflation is increasing (when it's lessening) ; markets are down(when they're setting records); unemployment is up(when it's near record lows). I even see them boasting about how Trump kept the world peaceful when we had troops in Afghanistan during all 4 years of his term and Putin was waging war in Crimea
I sure hope that consumer sentiment keeps an upward trajectory. Bodes well for JRB, as we know.
Go Adam Schiff! He needs to avenge the brutal loss of the Chicago Cubs to Steve “Popeye” Garvey and the SD Padres in 1984!!