Row 51167

Row ID: 51167 | Dataset Entry | Axioma AXP Content Repository

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This page contains data entry 51167 from the Axioma AXP content repository. The structured data below represents the complete record for this entry.

Americans [are generally happy with their own finances.](https://www.axios.com/2024/01/17/americans-are-actually-pretty-happy-with-their-finances) These public complaints of a terrible economy are *not* based on personal struggles. People's evaluation of their own finances and their opinion of "the economy" were *always* linked, following each other basically 1:1, until summer of 2021.

I don't know why people won't accept "ignorance and manipulation" as the answer when it makes *way more sense* than the typical self-flagellating liberal explanations.

I gotta go into some more stuff because you are expressing some pretty common misconceptions...

- "GDP doesn't matter" is an incredibly shortsighted and myopic view. GDP growth is not some imaginary thing, it's a statistical summation of the creation of jobs, the construction of new homes and factories, people getting raises, an increase in the material luxuries we enjoy. No, GDP doesn't help a poor person not be poor, but it is a lot *easier* for a society to address poverty with high GDP growth. It *absolutely* makes the lives of Americans better in aggregate, and it's preposterous to suggest otherwise.

Like, don't dismiss an insanely useful statistic because it doesn't tell the whole story. Biden's GDP growth outpacing Trump's (or Obama's, or Bush's) is an important story, even if it doesn't tickle people's romantic sympathies, and it's a big part of the reason people tend to respond positively to questions like "how are your personal finances?" or "how is the economy doing in your town?"

- After many years of relentless growth, wealth inequality has leveled off for several years. *Income* inequality is actually falling right now, because incomes are rising more quickly at the bottom of the income scale than the top. Because they change jobs more often, low-wage workers are more likely to have gotten raises that meet or exceed the rate of inflation. Even when inflation grew fastest in 2022, the bottom quintile was still making gains on average. Biden's policies on organized labor, and keeping the labor market tight by creating more jobs, should help this trend continue.

- A slim majority of millennials do own their homes. Housing prices are too high but outside of the loony markets like NYC and Seattle, they are inflated 33-50% from historical levels. That's a lot, but the way people talk you'd think they had tripled or something. (Home ownership, and "real estate investment," as it exists in this country is a completely fucked idea, I'm not going to argue that.) Rates will come down. More supply will surely help, unless of course the guy who opposes affordable housing in the suburbs and proposed to massively slash the HUD budget every year that he was in office is elected.

Personally I do not see all that much "instability" around me, and people report the same amount of agita as they did in 2009, which *was* very unstable, with three times the unemployment and manifold the foreclosures we have right now. Everything was falling apart. That's... just not happening right now. Did I mention that Americans [are generally happy with their own finances](https://www.axios.com/2024/01/17/americans-are-actually-pretty-happy-with-their-finances)?

I'm not going to let legitimate leftist grievance about the general failures of capitalist economies override the fact that by American capitalist standards, Biden's economy is fuckin' great. Stop making excuses for the people *lying* about it.

FieldValue
text Americans [are generally happy with their own finances.](https://www.axios.com/2024/01/17/americans-are-actually-pretty-happy-with-their-finances) These public complaints of a terrible economy are *not* based on personal struggles. People's evaluation of their own finances and their opinion of "the economy" were *always* linked, following each other basically 1:1, until summer of 2021. I don't know why people won't accept "ignorance and manipulation" as the answer when it makes *way more sense*…
label r/politics
dataType comment
communityName r/politics
datetime 2024-05-22
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Raw Record

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  "text": "Americans [are generally happy with their own finances.](https://www.axios.com/2024/01/17/americans-are-actually-pretty-happy-with-their-finances) These public complaints of a terrible economy are *not* based on personal struggles. People's evaluation of their own finances and their opinion of \"the economy\" were *always* linked, following each other basically 1:1, until summer of 2021.\n\nI don't know why people won't accept \"ignorance and manipulation\" as the answer when it makes *way more sense* than the typical self-flagellating liberal explanations.\n\nI gotta go into some more stuff because you are expressing some pretty common misconceptions...\n\n- \"GDP doesn't matter\" is an incredibly shortsighted and myopic view. GDP growth is not some imaginary thing, it's a statistical summation of the creation of jobs, the construction of new homes and factories, people getting raises, an increase in the material luxuries we enjoy. No, GDP doesn't help a poor person not be poor, but it is a lot *easier* for a society to address poverty with high GDP growth. It *absolutely* makes the lives of Americans better in aggregate, and it's preposterous to suggest otherwise. \n\nLike, don't dismiss an insanely useful statistic because it doesn't tell the whole story. Biden's GDP growth outpacing Trump's (or Obama's, or Bush's) is an important story, even if it doesn't tickle people's romantic sympathies, and it's a big part of the reason people tend to respond positively to questions like \"how are your personal finances?\" or \"how is the economy doing in your town?\"\n\n- After many years of relentless growth, wealth inequality has leveled off for several years. *Income* inequality is actually falling right now, because incomes are rising more quickly at the bottom of the income scale than the top. Because they change jobs more often, low-wage workers are more likely to have gotten raises that meet or exceed the rate of inflation. Even when inflation grew fastest in 2022, the bottom quintile was still making gains on average. Biden's policies on organized labor, and keeping the labor market tight by creating more jobs, should help this trend continue.\n\n- A slim majority of millennials do own their homes. Housing prices are too high but outside of the loony markets like NYC and Seattle, they are inflated 33-50% from historical levels. That's a lot, but the way people talk you'd think they had tripled or something. (Home ownership, and \"real estate investment,\" as it exists in this country is a completely fucked idea, I'm not going to argue that.) Rates will come down. More supply will surely help, unless of course the guy who opposes affordable housing in the suburbs and proposed to massively slash the HUD budget every year that he was in office is elected.\n\nPersonally I do not see all that much \"instability\" around me, and people report the same amount of agita as they did in 2009, which *was* very unstable, with three times the unemployment and manifold the foreclosures we have right now. Everything was falling apart. That's... just not happening right now. Did I mention that Americans [are generally happy with their own finances](https://www.axios.com/2024/01/17/americans-are-actually-pretty-happy-with-their-finances)?\n\nI'm not going to let legitimate leftist grievance about the general failures of capitalist economies override the fact that by American capitalist standards, Biden's economy is fuckin' great. Stop making excuses for the people *lying* about it.",
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