Majority of Americans wrongly believe US is in recession – and most blame Biden
Nearly three in five Americans wrongly believe the US is in an economic recession, and the majority blame the Biden administration, according to a Harris poll conducted exclusively for the Guardian. The survey found persistent pessimism about the economy as election day draws closer.
The poll highlighted many misconceptions people have about the economy, including:
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55% believe the economy is shrinking, and 56% think the US is experiencing a recession, though the broadest measure of the economy, gross domestic product (GDP), has been growing.
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49% believe the S&P 500 stock market index is down for the year, though the index went up about 24% in 2023 and is up more than 12% this year.
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49% believe that unemployment is at a 50-year high, though the unemployment rate has been under 4%, a near 50-year low.
Polling isn't going to change people's minds about it FEELING like a recession. It certainly feels like anyone who owns or controls any sort of economic production is on a cash-grab bender, jacking up prices on absolutely everything, and finding new ways to exploit the populace while the getting is good. People can't afford the basic staples of life. It FEELS pretty dire.
I made a post about this sometime ago about this split in expectations. People know that the economy is fine, actually great, for businesses they just don't think its good for them.
https://web.archive.org/web/20240502151808/https://www.nytimes.com/2024/02/12/opinion/biden-trump-consumer-confidence-economy.html
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Like I've said above. Economy is bad? Costs of living and items go up.
Economy is GREAT! costs of living and items go up.
The economy's health only benefits the wealthy who can afford to play stocks, etc. It makes absolutely no difference to the rest of us who are getting fucked no matter how good the economy is