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View submission: Thoughts on trump’s economy?
I guess some democrats might have pointed to the stock market, but I don’t think most of them did. The stock market isn’t a good indicator of the economy; it’s all speculation.
Also, you’re right about the miscommunication on “the economy”. Biden had a great economy on paper the way economists track it; GDP, job growth, unemployment rate, etc. in common parlance, however, people generally referred to the economy as “how much things cost”. Democrats need to drive that distinction better. A good economy can occur even when things are expensive for everyday Americans. They need to work on making both the economy and “the economy” better.
Trump is going to fuck up both the economy and the cost of everything.
Comment by Lucius_Best at 11/03/2025 at 12:42 UTC
1 upvotes, 0 direct replies
It is fine if things are expensive if you also have more money to pay for them, and by and large, people did. Income outpaced inflation for the vast majority of Biden's presidency, particularly at the bottom end of the scale.
This isn't just reflected in Fed numbers, it was also reflected in the way people acted. Yes, people spent more on food, but that spending was almost entirely on eating out and delivery, not groceries. People traveled more and spent more on leisure and recreation.
People acted like they had more money because they did. Polling reflected that as well. When asked, people overwhelmingly said that their personal finances were fine or better. They said the same about the economy in their state.
The disconnect comes when they were asked about the finances of others. By again, large margins, people said everyone else's finances sucked and they were struggling. Not only that, but the economy in other states sucked too.
Why would people think that? Why would people have assumptions about other people's finances that those people didn't feel themselves?