Why Americans feel gloomy about the economy despite falling inflation and low unemployment

Lee Duna@lemmy.nz to News@lemmy.world – 353 points –
Why Americans feel gloomy about the economy despite falling inflation and low unemployment
apnews.com
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Someone feel free to explain these two simultaneous headlines-

People who feel bad buy things to feel better. They might not be able to afford a new house or a car or medical care, but they’ll spend something on gifts.

Also, maybe it’s members of the owning class buying things. They’re getting more money all the time, whether the economy does “good” or not. So they’ve always got money to blow on shit.

Plus it specifically says online sales. Online sales could be up 7.5%, but brick and mortar store sales could be down 50% for all we know.

Sure, no problem. Spending rose by 7.5%, inflation until recent months was at 10%. Net real sales is down by 3.5%. People are spending more for less. This is why we are gloomy. Still, I recognize things are getting better on the macro level.

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