Many think U.S. is in a recession despite strong economic data
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- Опубликовано: 26 май 2024
- More than half of Americans believe the U.S. is in a recession, according to a Harris poll conducted for the Guardian. CBS News contributor Javier E. David discusses the data, which shows the economy is strong despite people's sentiment.
#news #economy #finance
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"What are you going to believe? The economic data? Or your lying eyes?"
Trumps fault
You're not feeling the correct vibes
High inflation directly adds to GDP, nothing new of value is created it just costs more so its smoke and mirrors. Unemployment numbers are manipulated and its also a lagging indicator, as it can take 6-12 months for a honorable struggling company to start axing employees.
Dropped $157 on 3 bags of groceries today. And that was shopping the sale and using coupons. 🤦🏽♂️
Trumps fault
@@tonydfixertonydfixer9113no honey. He’s the FORMER president. From 4 years ago. This stuff didn’t start happening til AFTER 2020 elections
I hate Trump but lets be real is Joe’s fault
Proof Bidenomics is working
@@tonydfixertonydfixer9113 I agree - he should have forced a recount and stayed in power
That’s because only top corporations and the top 10% of income earners are benefitting.
Trumps fault
@@tonydfixertonydfixer9113 Trump hasn’t been in office since January 2021…
Explain how this is trumps fault 😂😂
You mean 1%
@@SpanishKnight1 the top 10% pay 70% of the taxes collected , someone isn’t paying their fair share and it’s not the wage earners at the top
Est. 22.4% increase in food costs… everything costs more and they blame Americans for those increases because they have the audacity to buy needs and visit family on a holiday weekend. The “economy” works for the rich.
This the problem with how they calculate the stats. Here's an example: 5 people went from 1 million per year to 1.4 million per year, while 50 people went from $50,000 to $55,000. Let's call the first 5 rich people and the last 50 the average American. In this example, the average American saw a 10% increase in wages, the rich saw an increase of 40%, while official inflation was around 21%. So we went from 7.5 million in total income amongst these 55 people, to 9.75 million total. So the economists look at the total wage growth, and say "wages went up by 30% on average, higher than the 21% inflation". But for who did they go up higher than inflation? Cause it isn't the average joe.
@heyaisdabomb this needs to be a comment in the main section, not just a reply. You explained it well
It’s hilarious to watch the Dems try to tell Americans who are hurting that the economy is great.
@@Pilotpaulie my 12 month return is 60%... 22% increase (if that's even true) is nothing... thank you Nvidia, thank you magnificent 7.
@@heyaisdabomb You make a valid point on the averages being deceptive. Also one of the reasons the numbers and metrics look favorable is covid and the lockdown. When people went back to work it jumbled the numbers like a irregular heartbeat because we’ve never experienced anything like that. Some of the data looks good on paper when in reality it’s simply fools gold.
Yall do realize people swiping their credit cards does not equal a strong economy right?
No... equals folks buying essentials at high interest rates
I’m sure we are not that Naive as Americans. As we witness the current economic landscape, it's becoming increasingly clear that these Recessional times can pose significant financial challenges.
Indeed, Recessions have a way of affecting people's financial stability and investment portfolios in profound ways.
This global downturn could have long-lasting repercussions. Given the current inflation rate,my main worry is how to optimize my savings and retirement fund which has remained stagnant at around $100k yielding almost no gains for quite some time.
@@StellaAlmironI understand your plight
You can definitely say that, it does worry me a bit, but not as much as it would worry the average guy, my investment portfolio has survived a couple of recessions unscathed, been privileged to be guided under the stewardship of an extremely gifted investment manager.
Oh really?! That's a good one!
the elite is goin like: there are no problems!! the other 99%: i cant feed my kids!! somethings gotta give
Its morel ike the 30% that are on the lower income side. Everyone else is partying it up with their houses and stocks at record highs and the ppp money that they are still high on.
@@Zero11_ss hihihi damn, i so hope youre right! but what i gather from youtube is that if youre householdincome in the us is less than 200k a year, youre not living the dream anymore, youre living the nightmare!
@@pokerpaul1000 people are living fine making much less than that. USA is a big country, these little videos can't cover it all. Every state is like its own country and there are 50, you can google the size of new york vs your own country to get a sense of it.
@@Zero11_ss cheers to you all then! may you always have an abundance of ribeyes and jack daniels!! and if you ever hit the jackpot think of the 30% ey
Yep 4yrs of the 45 administration gave it to the 1%ers
Yea.... rich people are doing just dandy.
nailed it 😜
Trumps fault
@@tonydfixertonydfixer9113 delusional just like joe 😂
@@tonydfixertonydfixer9113 That's
a complete lie and delusion. This is Biden(Obama's Economy) all you have to do is look back at 2008-2009.
Everyone not in the 1% yea... Duh.
Trumps fault
Wall Street isn't Main Street, and Main Street doesn't enjoy the perks of public/private partnerships between D.C. and corporations.
Of course the overall economy is doing fine. The economy has our savings money, not the original owners.
Most Americans believe???! Of course they do! Everyone is living on credit and mounting debt 🙄. 14% of Americans have 100k or more in their retirement account. And that ain’t much!
Trumps fault
Any Republicans Fault really. They don't understand how universal healthcare, housing, transport and strong consumer rights actually save us money in the long run. Or they do, and are intentionally making it hard for us.
@@tonydfixertonydfixer9113 BS! 🤥🙄…..FJB
@@Pappy214 same to ya pappy back at ya🤣🤣🤣🤣
@@tonydfixertonydfixer9113 I dare not fight a “battle of the wits” with an unarmed opponent! 🤫
My business and everyone I know is struggling…there appears to be a money crunch…not a perception.
Trumps fault the 1%ers have it all
You look at the prices of goods and services and you get worried.
You see all the news about homelessness and you get scared.
Trumps fault
The economy is so strong malls are closing and gas is 3 dollars + per gallon, grocery prices are high just to show how strong the economy is. Never mind the overtime that disappeared and layoffs.
Gas is $4.99 where i live
It’s being propped up by printing money , which causes all the inflation everyone is getting crushed by
The market trend can turn around very quickly. In fact, the indexes often switch from a bear market to a bull market when the news is at its worst and the mood of investors is at its lowest point. I read an article of people that grossed profits up to $150k during this crash, what are the best stocks to buy now or put on a watchlist?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
If you are earning 50K or less, this feels like a recession because of the high gas and food prices. I remember during the great recession the price of gas went below $2 dollars for just a few weeks. Demand for gas was so weak because so many people were out of work. Thus the price went down. The situation today is almost something like pick your poison. Have low prices and no job. Or have a job and have high prices. Until inflation is done...high gas and food prices will be here for awhile. Some say it's corporate greed. I used to work for an oil company. I got PAID making over 90K 15 yrs ago. The oil company was very good to me and my co-workers. The Executives were raking in literally millions of dollars per year. The oil company loved high oil prices. Is it greed? Perhaps it is greed. They will have to settle that with God.
We are in a depression because people can not move to better situations
Trump and the republican authoritarianism is to blame
@@tonydfixertonydfixer9113he hasn’t been in office since 2020. How tf is he to blame when he’s not even in power? Blame Biden
I just paid $6 for a box of fruit snacks for my kids and my daughter showed me that she only got 4 gummies in a pack. Wtf??? Time for everyone to boycott everything!
Why am i gonna listen to someone talk about the economy when they clearly make enough that the economy doing poorly doesn't have any effect on them.
They can keep happy talking but this economy sucks!
Everything is extremely expensive and increasing in price, while these clowns tell us everything is fine and the economy is strong.
Thats because while the stock market is up, from massive corporate greed, the rest of us are struggling to buy the same amount of food we did 4 years ago even with "higher wages"
Taxes, insurance costs are off the chart in my neck of the woods.
I work hard everyday and I still struggle to buy groceries and pay my rent so there’ll be no vacation for me this year. Honestly, I’ll be lucky to see a movie considering how much a ticket costs these days. Yes, some of my friends are planning vacations this summer but several of them are deeply in debt anyway.
There you go not talking about high rent & housing! AGAIN.
Used to be 1/4 was top of where you wanted to be for housing expense
Richard Gecko said greed is good for the ultra rich. damn the poor.
Malcolm X would have had something to say about him
The GDP has increased because the cost of necessities to live have gone up 700,000% since 2019.
How we experience in daily lives tells us what the truth is. The government can pick and choose the academic report that suits them but the people cannot be fooled. Also, the declaration of recession is always an afterthought, no recession is ever declared at the beginning of it. So telling us we are in an economic boom while we can afford much less contradicts itself. In that case, we’ll believe what we actually experienced than what we are told to believe.
Uh yeah ok... tell that to the millions who can barely afford the basic necessities like food, rent, transportation, meds, etc. Their bank accounts and mental health say otherwise!
Id say we are in a great depression with the homelessness and the sheer fact that our government is denying it meaning they have no plan to fix it
Take out the top 1٪ and run the numbers again.
I like how the news and politicians constantly lecture us on how we're supposed to feel
I believe on my grocery/gas receipt.
Gaslighting! Jobs demand Masters degrees for $50k yr, renters want u making 3.5 times the rent, gas Sky high, groceries through the roof!
Gaslighting at its finest. Interest rates nearly tripled, with the Fed gleefully "hinting" that they "MIGHT" lower them, in... maybe a couple of years. ("Good luck trying to own a home or make mortgage payments without at least three jobs, ya Millennial / Zoomer plebs!")
And the economic numbers never quite get around to measuring the _actual_ rate of inflation versus the rate of corporate vampirism and the obscene greed of the 1%, do they??!
This country (by whom I mean the 99%) never truly recovered from the so-called Great Recession from 15-16 years ago... I've been calling this entire period (spanning FOUR Presidential administrations!) a depression.
The corporate media's job is to keep the masses (read: "consumers" or "suckers") at bay, so as not to cause a panic and make the 1% feel an ounce of economic pain.
Maybe just maybe the way the tweak these numbers aren’t reflective of what people experience.
To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. Risk comes from not knowing what you are doing!
Successful investment starts with clear goals and risk assessment, often best done with a financial advisor's help.
With Bitcoin ETFs gaining popularity, some predict the price might reach $100k. Should I consider investing my $500k cash savings now, or have I missed the optimal time for potential gains?
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
James Clark's market insights have consistently led to profitable decisions.
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
Your wallet tells the truth not the stock market.
The reason people think this way is housing costs. Houses are overpriced. If you work, you should be able to buy a home. However, real Americans cannot afford homes. That means the economy is bad for most Americans. The marker has always been being able to buy a home and provide stability. That has been taken away. Why? Greed. Interest rates were low for too long, and people increased the prices of houses beyond what is realistic. Now we have this mess.
Not just housing. In my household the biggest inflationary impact we feel is FOOD COSTS.
Also the reason interest rates had to be increased is because the Federal Government - spurred by the demands of the Democrat Party - embarked on huge and unnecessary spending that CAUSED inflation. Democrat Senator Senator Manchin saved us from more spending. If interest rates stayed the same, inflation would be at 15% right now.
Those are the facts. It's not just housing. Changing oil in my car went from $45 to $55 at Walmart Auto center. It's EVERYTHING and the cause is too much government spending.
@@ibezimokehie9526 Gotta keep those tanks rolling in Ukraine 🇺🇦! 🙄…..Ohhh that’s right, what tanks? 😂
@@ibezimokehie9526 While you are right about food costs. You are 100% wrong in blaming Democrats. Remember, it was under the Orange Menace that interest rates were low for so long. Can you imagine why? Not to mention, had the Orange One been a leader amid the pandemic, instead of demonizing masks and vaccines, we would not have had any issues at all. All he had to do was encourage something as simple as social distancing and lockdown policies. If he had done any of that, we would have no inflation or housing crisis.
@@ibezimokehie9526 A second note: Had the Orange One been a leader, there would have never been a need for a stimulus. Why? The pandemic would have been over before it got so bad. Common sense. All of this mess is the fault of the MAGA cult. That is common sense.
Wages are not keeping up with inflation 😂😂
Yea a strong economy for the rich, not strong for the middle class and low income.
"Despite the ever growing homelessness problem that we covered but don't mention here for obvious reasons the economy is booming"
2 quarters of negative growth followed by a zero growth quarter is what we experienced about 10 months ago under Biden. So what did Biden do, we redefined the definition of a recession.
You can make the data say whatever you want it to say. I can just put any rows I want in an Excel sheet, no one can stop me. This is terrible messaging because we can't afford rent or food and do not care how much richer executives are this year than they were last year.
Yeah i gotta work 2 jobs and have a side hustle just to afford this cardboard box but we're doing great. 🤷🏿♂️
I have no money
Many also think that a certain guy is a billionaire despite regular info to the contrary.
Let me guess... he's orange?
Who are these people kidding?
the u.s. economy is more in favor of the rich, the middle and lower class suffer too much to make the rich richer. From 1970 to 2018, the share of aggregate income going to middle-class households fell from 62% to 43%. Over the same period, the share held by upper-income households increased from 29% to 48%. The share flowing to lower-income households inched down from 10% in 1970 to 9% in 2018.
It strikes me that people have forgotten what a recession is. Not in data/economic terms, but in look-out-your-window terms.
In 2009, unemployment hit ~10%. Don’t you remember what that was like? 1 in 10 eligible people out of a job, foreclosures everywhere… The whole world has been battling inflation since covid, and America is doing better than any other advanced economy.
Unless something has changed in the last few months in terms of how data are collected, the unemployment numbers don't include: (A) people who are no longer eligible to collect on unemployment benefits; (B) part-time, "underemployed" workers who desire a full-time income; (C) individuals who are not seen to be "actively" looking for work - within four weeks of receipt of a monthly BLS survey; (D) "seasonal" / self-employed workers; or (E) laid-off full-time workers who "scrape by" earning scant part-time hours... Race, gender, and other factors are generally not considered, either. This is to say, the government, and the media, are working from a flawed metric.
It may shock some readers to know that most Americans who are unemployed do not apply for or receive unemployment insurance benefits. Mainly because they're no longer eligible, or there is support from family (by way of shelter, food, etc.).
This is not to mention the over half a million (known) people in the U.S. experiencing houselessness, most of whom are also unemployed - and do not qualify for "UI" benefits.
Given this - and more - information, estimates for America's "true" unemployment rate have ranged from 18-25%, versus the 3.7-3.9% being reported, according to such sources as the Ludwig Institute for Shared Economic Prosperity, and others.
Makes ya wonder if they are just out and out lying. I mean, I have a teenager working fast food before going to college, and she says other teenagers are not working. They are saying it doesn't pay, lol. I'm like yep that's how it goes but apparently, parents are allowing these kids to stay home instead of work. I went through a Taco Bell drive-through at 1am the other night to get a soda, and the guy came on and said they were closed. He said he couldn't get anyone to come to work. I'm like, dang, sorry to hear that. Have a good night and I headed to Wendy's. Nope! Another boy comes over the speaker with the exact same thing. Nobody there to run the store. Only him. Wtcrap!? That's just in my 10-mile radius. I saw an $8 gallon of organic milk.. I'm sorry this doesn't fit with what these guys are saying. Ask yourself, are they scared enough that Trump will win to lie about this? YES!
What about all these businesses closing target red lobster.
People forget that they are paying for a lot more conveniences (curbside pickup, door dash, overnight delivery). Discretionary spending is not stopping. I think most people are simply saying things are tough because they have little to complain about. How many people are really making the choice between graduating parties for a middle schooler and gas?
Property taxes in texas over 200% in the pass few years.
Then stop voting democrat
You think vote Republican can help and make it better completely? 😅
It sounds like George Orwell's 1984. This guy is vomiting so much bs. The jobs are low paying, deadend jobs. The stock market benefits the few. Housing prices and rents are insane. Single family properties never used to make good investment properties until the 'Great Recession' when the government unloaded huge blocks of derivatives made up of single family residences that were under water because of Wall Street's greed to equity firms. Food prices are obscene. Corporations are raping their customers and their own employees while doing record stock buybacks ans consolidating whole industries, giving top executives huge compensation packages and giving CEOs that go for the stock buybacks obscene 'golden parachute' compensation packages when they leave. I'm amazed that this guy passed intro to the wonderful world of macro and micro economics back in his freshman year at some crap university.
He is and he must not have to worry about it, the key is making your money make money but damn you can't make very good return until Trump comes back or anyone they will offer besides biden unless he starts WW3.... if Pelosi starts buying defense stocks then you know
GDP because people working 2 jobs. GDP because of inflation is not real growth
I too can make up lies on a spreadsheet.
People just believe what they want even when everything tells them they're wrong
Case in point, the media.
Those must be the people watching Fox” news” 🤢🤮
You guys media and politicians can throw out any numbers using any of your favorite formulas. What matters in the end is how everyday Americans feel about their economic situation
When inflation is outpacing the growth of GDP, economic growth is immaterial. If it’s costing Americans more money than the return on their expenditures, then there’s no substantial value in the resulting growth.
People losing their jobs , what you going to think? Where I am not much work
Housing....it's housing. The American Dream is to own a home and it's way overpriced right now between house prices and interest rates
Money doesn’t go as far. If the output was really increasing wages would have kept up with the price of goods and services and it hasn’t.
You have to look below the surface of the data to see what’s really going on. Most of the economic growth is being driven by the astronomical government spending, not by the private sector and the job growth is overwhelmingly part time jobs and government jobs - full time private sector jobs are actually down.
what strong economic data
Families are living in hotels and tents never have we allowed kuds to be homeless you're all lying 😡
Vote red for a strong economy 😊
Keep giving our tax dollars to Ukraine, migrants & student loans!
No there’s no misconception we’ve been in recession for 25 years and now it’s getting worse but good try though
Government spending huge on military... If doesn't trickle down!
all lies
This economy sucks, but they keep saying Bidenomics is working. The audacity.
It’s called stagflation. 😢
Gas prices, cost of food, rent prices...and oh yeah our dollar being over printed to a number so high it would make the founding fathers heads spin. Good example of what we should be doing is just look at Argentina's new President, Javier Milei and what he has done for them.
We all know how we got here. The pandemic. Everything will come to the light. Recession or not. Having something saved will be a better route.
growth is probably because theres a bubble in the global market, thats why theres rapid growth in the last 4 years.
USA has huge debt to GDP 250% and $35 trillion in numbers. If fed reduces interest rate, then people would take loans like anything and banks will also give unsecured loans to businesses. That would be killing USA as a country. That's why they manage to show inflation so that rate isn't taken down. Fed interest rate down would mean official declaration of recession. However frankly USA is into recession after 2001 and started huge in 2008. Everything suppressed by printing money but no plans to recover from rich . While the personal wealth of rich has grown multifold and not paying taxes that benefit nation
This is delusional...
93 octane is legitimately $6 a gallon… ($5.89) AND IM IN A SUBURB OF CHICAGO NOT EVEN IN THE CITY.
93 octane? Folks struggling to buy reg
Really strong Huh?
Everyone here complaining about how the rich are just getting richer and everyone else is being left behind, and then go on and vote republican . lol
What's wrong with you people??? You may have a 5 figure income, but nobody else does. We're suffering!!!
Nobody is saying there is a recession. 🙄 Entities funding the media don’t want you to panic and pull out of stocks. Get out of stocks before the recession hits, probably after the election. (Coincidental timing, obviously.)
Dat Goebbels-level propaganda and gaslighting from CBS.
This guy is totally disconnected from everyday Americans.
perm. payrolls down. that's a significant determinant of wealth building. so that is early recessionary indicator. the opportunity cost of gossip, charlie Hebdo, will cost the west in economic rebound and enforce a new world code.
Take off the tariffs on China and prices will come down.
No they will not! It will strengthen china... what we do is say... cut this out and stop funding war.. tariffs increase 15% a month until they do. You stop it with no delay and we bring them down a bit. Also Russia, we say ok, let's discuss it, you get half of land you are in now... you decide where. Also no nato in Ukraine.
Wages have been outpacing inflation by 2% for a year and a half now.
In which country?
@@garcjr US.
@@steveb796yeah right
Shhh
Well okay you let it get out of control and see what happens
Shout out to crammed household that's been living paychecks to paycheck, the economy is actually doing fine. People are still going on vacations while a sick day from one of your two understaffed jobs will put you behind on the rent that's just been raised. 2024
The only way to push back is to NOT FEED THE BEAST, STARVE IT. That means just get the necessities ONLY, no I’m going to treat myself with whatever because I worked so HARD. It’s a vicious cycle folks (and that’s where they get you). I honestly don’t know where they’re getting their information from because I know a lot of people who are staycationing.
Only good if your rich
i work in healthcare
Keep printing free money! Eventually, we will see the light! 😂
Real GDP growth
Adjusted for inflation.
Obama 8 years 15.5%
Trump 4 years 8.8%
Biden 3 years 9.8%
Europe and Canada envying the US for economic resilience and growth through productivity (instead of immigration). But Americans have media telling them that they are miserable and they grasp tightly to their victimhood.
Which is rising faster?
Biden's disapproval rating
The National Debt
Or the Casualty rate in Rafah?
Vote Blue no matter who.
I been in ressession since 1990
The cap 😂
It's so amazing these people can lie to you and keep a straight face....great acting skills.