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It's not just vibes. Americans' perception of the economy has completely changed. (abcnews.go.com)

submitted 4 months ago by [email protected] to c/[email protected]

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[–] [email protected] 10 points 4 months ago (1 children)

No matter how you slice it, there's a gap between how the economy is doing and how Americans feel about it.

Why do they keep insisting that we are the ones that are wrong? The economy isn't their numbers. The economy is a real thing, proper operation of which ensures well fed people.

The purpose of an economy is to fond optimal distribution of resources for people. Ultimately it's people that need all the things, right? Either things are materials to produce things for people, or products useful to help other products reach people.

If the people think that's not working, it isn't working. They're not just parroting what they see on the news, they're living day by day, minute by minute in this environment. They see what day to day life costs for them. They're wrong but the eggheads tracking the over fitted model are right? When a measure becomes a goal it ceases to be a good measure, that's where the disconnect is. If you want to fix the economy then quit pretending your metrics are more important than people's standard of living.

[–] [email protected] 1 points 4 months ago

I think it is more writing to people for whom that is the case.

The economy is shifting to a set of haves and have-nots. The problems that the haves deal with are tied a lot more to economic performance than have-nots.

You also have a case where unemployment is still low, with a lot of the issue being tied to low minimum wages. Usually, the problems that have-nots have with the economy have been tied to unemployment. You can get a job in this economy, it just won't be well paying.