CPI isn’t capturing reality for most people
Homeowners getting hit with whopping insurance and property tax increases as we enter 2024
And raises are long gone t.co/vs38A2VEjz
— Amy Nixon (@texasrunnerDFW) December 27, 2023
As long as the banks continue to receive support through the not-so-hidden bailout program, there's little to worry about, except the looming threat of inflation making a comeback…
Bank Term Funding Program (Initiated in response to the Silicon Valley Bank collapse): pic.twitter.com/YApWloGljz
— Phoenix Capital (@PhoenixCapitalH) December 27, 2023
Streaming landscape in 2024, explained pic.twitter.com/nqp8DpYOtQ
— Trung Phan (@TrungTPhan) December 27, 2023
These prices for groceries are crazy. Almost everything is easily up 30% to 50% compared to 3 years ago.
What are you most shocked by for change in price for food at the grocery store?
— Wall Street Silver (@WallStreetSilv) December 28, 2023
Goldman lowered Q4 GDP forecast to +1.5% pic.twitter.com/JTnE7FepKr
— Win Smart, CFA (@WinfieldSmart) December 28, 2023
The Top 1% of U.S. earners now have more wealth than the entire middle class pic.twitter.com/z3H94T0VjK
— Barchart (@Barchart) December 28, 2023
Misery Index shows improvement, but consumer sentiment remains low, revealing a perception paradox in the economy.
Misery Index vs. Consumer Sentiment: A Paradox in American Economic Perception
The Misery Index, a measure combining unemployment and inflation rates, suggests Americans should be feeling less miserable than they report. Created by economist Arthur Okun, this index gained prominence during the 1976 and 1980 presidential elections. In April 2020, the Covid crisis drove the Misery Index to its highest level in nearly four decades, but it has since fallen sharply due to cooling inflation and low unemployment, standing at 6.8 in November with unemployment at 3.7% and a 3.1% rise in consumer prices. Despite this improvement, consumer sentiment remains low. The University of Michigan’s index of consumer sentiment only recently increased to 69.7 in December from November’s 61.3, still below its pre-pandemic level of 101 in February 2020. This disconnect highlights a complex relationship between economic indicators and public perception.