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Sobering and good read by Jeff Anderson in the Manhattan Institute tackling the growing divergence between what pundits remark about the economy and how people feel. 🤷♂️ While many media pundits are arguing that the U.S. economy is flourishing, public sentiment starkly contradicts this view. A mere 31% of voters feel the economy is on the right track, reflecting deep-seated concerns. 📉 📘 Dualing Perspectives: - Economists like Paul Krugman celebrate 2023 as a stellar economic year, and some other pundits have pondered why such "success" hasn't translated into public approval. - Some even suggest this gap between economic performance and voter sentiment could even stifle governance (!), indicating a failure to recognize or reward governance based on economic outcomes. 💸 Inflation's Sting: - Americans, and many in Europe, are acutely feeling the effects of inflation. Prices for daily essentials continue to soar, making the term "plunging inflation" seem out of touch with reality. - A surge in federal spending, especially with the 2021 Covid-19 stimulus package, has inevitably contributed to the current inflationary pressure. This fiscal trajectory has led to record-high credit card debt and mortgage rates, further straining the American household. 🔍 The reality for many Americans is a struggle with rising costs and economic uncertainty. This divergence in perception raises questions about the factors truly influencing public opinion on economic health and the role of inflation in shaping these views. The current economic discourse underscores a vital need for a nuanced understanding of how economic policies impact everyday life, suggesting that the true measure of economic success is found not in abstract indicators but in the lived experiences of the populace. #EconomicInsight #PublicOpinion #InflationImpact #PolicyEffects https://lnkd.in/eFR-mBMZ
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5moEveryone at my local Kroger when they go through self checkout with 8 items in their cart and the total is $103