Heading into the November presidential election, one of the biggest issues on voters' minds is the economy. According to a new poll, 73% of Americans say strengthening it is their top concern.
Despite a low unemployment rate and slowing inflation, many Americans believe the economy isn’t doing well because food and gas prices are still high.
Well, the government isn’t gonna induce deflation. Wages may rise, and a low unemployment rate contributes to that, so the price may fall relative to your purchasing power, but in absolute terms, the prices are where they are.
“The real wages are increasing much faster than the inflation rate, which is very steady,” said Kishore Kulkarni, an economist with Metropolitan State University in Denver. “And therefore, the real wages are in fact increasing, but people are not feeling it because there is so much negativism outside.”
Well, the government isn’t gonna induce deflation. Wages may rise, and a low unemployment rate contributes to that, so the price may fall relative to your purchasing power, but in absolute terms, the prices are where they are.
And there you are.
Are they really telling struggling Americans they’re just being “negative” and everything is fine?