The data is undermining our narrative 😳 Would you believe we are better off financially now than before the pandemic? -- We are emotional humans and we inherently love drama & fear 😨 The headline narrative today is that the economy is crashing around us and brace yourself for the big recession -- For two years, we've been talking about the big recession and it hasn't happened So what now? Do we keep talking about it in hopes that it happens? Are we seeking a self-fulfilling prophecy? -- The political season is ramping up The fearful narratives are strong on both sides BUT CAN WE FOR ONCE... Step back and simply look at the data? Yes, we had high inflation Yes, the interest rates are high Yes, life isn't easy nor fair But despite all of this... We are doing quite well -- We as a society can still thrive despite challenges -- Thank you Claudia Sahm for the article and data
Chief Economist, New Century Advisors, Founder of Sahm Consulting
The majority of Americans are better off financially now than they were before the pandemic. Full stop. Not every American, but the majority. That’s true across demographic and income groups. It’s in the aggregate and individual-level data: Millions more good jobs.' - Bigger paychecks, even after inflation. - Consumer spending back on strong pre-Covid trend. - Historic increases in wealth, including at the bottom. - Lowest debt burdens on record. My latest Substack post makes the case. https://lnkd.in/e7m-nGMH