Eh, economic numbers are better than under Biden but still rather meh. GDP has been rather stuck in mediocrity and private sector jobs haven’t really taken off, though I do think shrinking the federal workforce will eventually pay off. Tariffs are misguided policy that are an overall headwind to growth but I realize we’re in a protectionist moment right now, but am hopeful it will pass with the help of the courts. At least the whipsawing has stopped.
The biggest issue is that we haven’t had any *disinflation*. Prices went up due to the money printing during Covid (both Trump and Biden had a big role in that) and while the money supply has largely returned back to where it should be, tempering structural inflation, we haven’t had a big recession to actually bring prices down. With wages growing relatively slowly, people will still feel pinched.
Stock market has been amazing, of course, but that isn’t the same as main street.
auditd0rk on
Our 401k looks great but I was all eye-rolls when I filled up yesterday and it was $5.27/gal for 91-octane here in southern Colorado. I’m concerned a lot of folks are going to be focused solely on that come November.
marcjones281 on
Feel like K-shaped economy is the reality:
– if you have a good high paying job and/or are independently wealthy then this year has been great: stocks are up and gas & groceries don’t really matter.
– if you are lower income then costs are way up and your income is not. And the stock market doesn’t matter much to you.
I’m worried most voters fall into the latter category, so really need a pickup in the consumer economy
3 Comments
Eh, economic numbers are better than under Biden but still rather meh. GDP has been rather stuck in mediocrity and private sector jobs haven’t really taken off, though I do think shrinking the federal workforce will eventually pay off. Tariffs are misguided policy that are an overall headwind to growth but I realize we’re in a protectionist moment right now, but am hopeful it will pass with the help of the courts. At least the whipsawing has stopped.
The biggest issue is that we haven’t had any *disinflation*. Prices went up due to the money printing during Covid (both Trump and Biden had a big role in that) and while the money supply has largely returned back to where it should be, tempering structural inflation, we haven’t had a big recession to actually bring prices down. With wages growing relatively slowly, people will still feel pinched.
Stock market has been amazing, of course, but that isn’t the same as main street.
Our 401k looks great but I was all eye-rolls when I filled up yesterday and it was $5.27/gal for 91-octane here in southern Colorado. I’m concerned a lot of folks are going to be focused solely on that come November.
Feel like K-shaped economy is the reality:
– if you have a good high paying job and/or are independently wealthy then this year has been great: stocks are up and gas & groceries don’t really matter.
– if you are lower income then costs are way up and your income is not. And the stock market doesn’t matter much to you.
I’m worried most voters fall into the latter category, so really need a pickup in the consumer economy