The Economic News Is All Bad, And The American Public Knows It

[mystery-ak]

The Economic News Is All Bad, And The American Public Knows It
S.T. Karnick
August 29, 2022
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Reporters and analysts are getting used to describing news about the U.S. economy as “mixed.” The public, however, knows it’s all bad, because the results of President Joe Biden’s economic and energy policies are hitting Americans right in their pocketbooks.

The latest ostensibly good news was Thursday’s Bureau of Economic Analysis report that the second quarter decline in U.S. gross domestic product was a little less than previously stated: -0.6% instead of -0.9%. That’s good only if your definition of success is slightly slower failure.

The reality is that the U.S. economy is in serious decline and getting worse.

“U.S. companies reported a sharp drop in business activity in August in a broad-based decline led by services companies, though manufacturing slowed as well,” the Wall Street Journal reported last week.

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https://issuesinsights.com/2022/08/29/the-economic-news-is-all-bad-and-the-american-public-knows-it/

[rustynail]

Maybe but many 'feel' things are getting better with gas down over a dollar and food prices leveling off.

[DefiantMassRINO]

I have a fixed rate mortgage, but I'm paying higher property taxes, and gas is cheaper, until a Gulf of Mexico hurricane strikes.

This is the quiet before the storm.

[catfish1957]

and gas is cheaper, until a Gulf of Mexico hurricane strikes.

This is the quiet before the storm.

This seaaon has a 1980 feel to it.  Super quiet early and mid season created a boiling caldron of hot water in the Caribbean and Gulf.  Then Hurricane Allen happened in Aug '80.  This  year an additonal month can be added to that tea kettle.