Counterpoint: What's gets reported on as "the economy" doesn't matter to most people. Most people can't afford a few hundred dollar unexpected expense let alone afford stocks. Unless they consider themselves temporarily embarrassed billionaires, the DOW doesn't matter to them. There are very much 2 economies in the US, it is why there can be massive, and growing, homeless populations in the richest cities in the richest county. I remember from 2020 someone posted a screenshot of a Jim Kramer segment where the graphics on screen simultaneously said stocks hit record highs and unemployment hits a record high. It is why there have been articles at this site about how the fed is going to combat inflation by increasing unemployment. Voting for "the line"/"the economy" to go up is voting against most people's self-interest.
I also wouldn't praise Obama's dealing with the financial crisis by giving tons of money to the banks that created it, didn't take any action against those banks, and let the banks then steal people's houses (the banks messed up chain of title documentation so their legal claims to be able to foreclose were often dubious/non-existent). This is one of the driving reasons why Black wealth shrank so much during his presidency. Note: None of the above is a defense of Bush, or any of the other administrations, that fueled & turned a blind eye to what was being done to housing & financial markets.
I've been banging on about this for a long time now, and I really hope it starts to penetrate the conventional wisdom. People have realized that "the economy" actually has nothing to do with them. It never actually did. For many years the capital class made a serious effort to create the appearance that "the line going up" was correlated with people's personal fortunes, but it was by no means a causal relationship. In this new Gilded Age, the elites have abandoned any notions that it's a good idea to placate the masses, instead opting to try and demoralize us. This has meant they've dropped the pretense of tying "the economy" to ordinary people's lives. And people are, naturally, noticing.
Counterpoint: What's gets reported on as "the economy" doesn't matter to most people. Most people can't afford a few hundred dollar unexpected expense let alone afford stocks. Unless they consider themselves temporarily embarrassed billionaires, the DOW doesn't matter to them. There are very much 2 economies in the US, it is why there can be massive, and growing, homeless populations in the richest cities in the richest county. I remember from 2020 someone posted a screenshot of a Jim Kramer segment where the graphics on screen simultaneously said stocks hit record highs and unemployment hits a record high. It is why there have been articles at this site about how the fed is going to combat inflation by increasing unemployment. Voting for "the line"/"the economy" to go up is voting against most people's self-interest.
I also wouldn't praise Obama's dealing with the financial crisis by giving tons of money to the banks that created it, didn't take any action against those banks, and let the banks then steal people's houses (the banks messed up chain of title documentation so their legal claims to be able to foreclose were often dubious/non-existent). This is one of the driving reasons why Black wealth shrank so much during his presidency. Note: None of the above is a defense of Bush, or any of the other administrations, that fueled & turned a blind eye to what was being done to housing & financial markets.
I've been banging on about this for a long time now, and I really hope it starts to penetrate the conventional wisdom. People have realized that "the economy" actually has nothing to do with them. It never actually did. For many years the capital class made a serious effort to create the appearance that "the line going up" was correlated with people's personal fortunes, but it was by no means a causal relationship. In this new Gilded Age, the elites have abandoned any notions that it's a good idea to placate the masses, instead opting to try and demoralize us. This has meant they've dropped the pretense of tying "the economy" to ordinary people's lives. And people are, naturally, noticing.
Trump is such a weak, unpopular, flawed, beatable candidate. And President Biden is losing to him.
The economy is doing better than it should be. Yet many Americans blame Biden for a bad economy so they won’t vote for him.
Joe Biden has failed to convey an anti-Trump message. He has failed at getting the message out about his own successes.
Do Americans blame Biden for a bad economy or do they simply not care about the Dow Jones Industrial Average?
Oh God I"m afraid Will STancil is going to come to these comments