• Rapidcreek@reddthat.com
    link
    fedilink
    arrow-up
    11
    arrow-down
    1
    ·
    1 year ago

    The Economist says the pandemic has “broken” people’s perceptions about the economy.

    “Although Americans report being worried about their finances, they are behaving as flush as ever—and in economic forecasting, actions speak louder than words. When used to project future spending rather than consumer sentiment, the same battery of economic variables has fully maintained its forecasting power since 2020. In contrast, since Covid began, the correlation between sentiment and both current and future spending has vanished.”

    Jonathan Last: “I hear every person who says that times are tough for them and I honor and respect that. But in the aggregate, people’s views are not just a little bit off. They are wildly out of sync with reality

    • Semi-Hemi-Demigod@kbin.social
      link
      fedilink
      arrow-up
      15
      arrow-down
      3
      ·
      1 year ago

      I hear every person who says that times are tough for them and I honor and respect that. But in the aggregate, people’s views are not just a little bit off. They are wildly out of sync with reality.

      “The Party told you to reject the evidence of your eyes and ears. It was their final, most essential command.”

    • Alien Nathan Edward@lemm.ee
      link
      fedilink
      arrow-up
      7
      ·
      1 year ago

      Sure, your whole life has consisted of a once-in-a-lifetime economic disaster every 6 years, the last one lasted for 3 years and killed over a million of us before we stopped counting and declared victory, and you watched the people in charge actively discredit and disrupt mitigation efforts but that was like minutes ago. You stupid poors don’t get it: everything is great. You’re actually having a wonderful time.

    • YoBuckStopsHere@lemmy.worldOP
      link
      fedilink
      English
      arrow-up
      9
      arrow-down
      18
      ·
      1 year ago

      The American economy is hotter than I have seen since the 90s. People are buying like crazy. Just look how many people are buying new iPhones. Don’t say times are tough if you are shopping for the latest luxury item.