Enough from the crybabies
 

It seems like all we hear from the media lately is how bad off we are – when the facts say just the opposite.

One point of view:

5 Questions I Have About the Economy - A Wealth of Common Sense

Things have been looking good to me for a few years, so I agree. Maybe you might think if the media sources you hear are really telling it like it is, or just passing gas.

Seriously, did you even read the article?

1. Why do people keep spending money if the economy is so terrible? We are spending money like crazy. That has to be a good thing, right? But wait:
2. Total credit card debt going over a round number like $1 trillion is scary. Uh oh. But let's not forget inflation is up 20 percent since 2020 so spending isn't as bad as it seems. Author just skims over the "inflation is up 20 percent" in 3 years like that is not a big deal in and of itself.
3. Young people in the first-time homebuyer stage of life have it worst of all, but don't worry,
4. Baby boomers will start dying off in 2030 freeing up home inventory. What? Like all of sudden despite inflation and record household debt Gen Zers will magically be able to afford new homes after the boomers leave the scene? Right.The article in Quoting The Atlantic says it is going to be a long time until houses are affordable again but the author is optimistic things will eventually get better. How quaint. I'll go a step further and say things will eventually get better, then worse, then better..... Hey it will rain, and then stop, then rain again.
5. Are economic sentiment gauges broken forever?Author tries to make a point that the economy is going strong despite how people feel about it. It's our fault for feeling like we do. I just look up at the previous points raised that household debt (and public debt) is higher than it has ever been, that inflation is up 20 percent over the last three years, and that young people (and many older people) can't afford to buy a house and likely won't for a long time and I have to wonder how you saw anything positive in this article? Still, I can't fault a person who sees a silver lining in a very dark cloud. Maybe we all need that perspective.

I always ask people if they think that their children or grandchildren will have a better life than they did.

I hope so or there was something very wrong with parenting skills. One Learns by mistake made, and hopes to improve next gens life.

Families today are having a hard time keeping their heads above water. Something really started to change January of 2021. This article tells it all what families are battling.
https://www.bing.com/ck/a?!&&p=3ace2...vbm9teS8&ntb=1

“If it bleeds, it leads”.

Bad news draws viewers and generates hits. Good news, as a rule, doesn’t. And don’t forget that media is profit - as well as agenda-driven.

It is why I don’t watch or listen to “news” broadcasts any more.

All this has happened before, and will happen again.
Good times, bad times, and yet we are all still here.
Problem these days is everything is politicized, the world is full of disinformation, everyone seems to have an agenda. Suck it up.
Nobody ever promised us a living, you just got up off your butt, and found it!
WTH. :shrug:

I agree, the truth is somewhere near the middle (I hope...)

I came up with my own three reasons why you might want to approach information found on internet news sites with a healthy dose of skepticism:

1) Everybody has an agenda. whether it is a media outlet or social media influencer, each person has their own biases and motivations that can shape the way they present information. this means that some stories may be selectively presented to further a particular point of view or to elicit a certain response from readers.

2) Information can be misleading without intention. sometimes, reports are based on incomplete or inaccurate information due to a lack of research or resources. in other cases, information is intentionally distorted to make a point or to sway public opinion. for example, sensationalized headlines that exaggerate the severity of a situation can create unnecessary fear and panic.

3) Context is everything. news stories are often taken out of context and used to support arguments that they were not intended to make. for instance, a quote from a single study or expert may be used to support a broader claim without considering the larger body of evidence or alternative perspectives. furthermore, information can become distorted as it is passed along social media platforms, with misinformation and misunderstandings becoming amplified over time.

So very true

The reason people spend money during an inflation is because if you hold your money until good times arrive, it'll just be worth less. That's not a good thing. Savings and investment is what underpins a healthy economy.

Take my case -- I have a perfectly serviceable 15-year-old roof that will probably have to be replaced before I'm done using it. Do I put off the cost for 10 years, by which time I will actually need a new roof -- and it costs $50,000 -- or do I do it now for $20K and waste 10 years of my old roof's life? I will probably be forced by our broken economy to do the stupid thing and buy a new roof I don't need next year. In what universe is that a "good thing"?

And, yes, we are breaking all the low unemployment numbers right now. Also not a good thing. People are taking 2nd jobs because the salary on the 1st one can't keep up with inflation. And we have, even by the gooberment's own fake count, at least 9,000,000 new "migrants", taking any job they can, which also drives the fake unemployment number (and wages) down. The number to look at is labor-participation. It has barely increased since Covid sent the entire American workforce home for a year. And that is a very bad thing.

Just be glad you're old and not trying to raise a family right now. And pray your nestegg and Social Security don't go bust before you do.

Higher savings interest rates usually come with inflation, which offsets much of the rising costs.
These days my wife and I have most of our funds in tax free, inflation tracking government cash bonds, and they are doing well for us.
Problem is, many have borrowed to the hilt during good times, and never left themselves any leeway for a downtrend.
I am no fiscal genius, but I learnt not to borrow more than I could pay back, even with substantial interest rise.

The haves will always have, the have nots well will not. It takes money to make money.

Regarding the Labor Force Participation Rate….10,000 people a day turn 65. There are more people who leave the labor force every day than come in.

There were also at least 2 million excess retirements in 2020-21 due to COVID. Excess retirements are those above the normal trend line.

Under the circumstances, LFPR is hanging in there.

There are still many professions which have many vacancies and labor shortages. Some might be expected, but I never thought I’d see the day when we can’t find enough nurses, doctors, teachers, cops, and many more.