Quote:
Originally Posted by Montrealcorp
The US economy is much better than they think it is .
And since people like baham and maga think only gdp going up that matters well it’s exactly what’s been happening …
The US economy is (very) good currently under several objective, measurable definitions (unemployment especially), but quality of life for the median working American isn't as good as those objective measures would imply in other circumstances, especially for people that don't own their houses or that bought very recently.
Economic data isn't massaged nor a fraud, it's objective and presented by actual experts with a lot of credibility.
Problem is other trends are happening which are terrible for specific subsets of the population and which people usually describe as a bad economy (even if economic textbooks don't).
For example the percentage of under35, living with their parents is the highest ever.
EXAMPLE: For American normal middle class parents having your 29y old son or daughter at home can often mean being an abject failure at parenting, a disgrace, a fraud, with an incompetent and hapless adult child.
Unless the economy is SO TERRIBLE, that's the only option. So ofc you are going to think it's the economy overall, and not some very specific dynamics that, while rewarding a lot of people immensely, punish the 18-35 more than even before in history.
The fact that many 56y old are laughing every day because his fixed 3% rate mortgage payment is ridiculously low for a house that keep appreciating while his nominal income increases a lot as well, so they basically got a huge real discount on the house they bought 7, 10, 15 years ago, isn't going to help to convince the 69y old who already paid off his mortgage than his 31y old child isn't incompetent if he can't afford to buy a house even if the 69y old did at 26