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JRPGfan 6 days ago
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Ryuu96 said:
zorg1000 said:

It’s definitely a tricky situation running on the economy after two years of rising inflation & interest rates, while the economy is strong in a traditional sense (employment, GDP, real wages, stock market, etc) people just aren’t feeling it because of increased prices & borrowing costs.

I think that same poll said a large chuck of the population thinks we are also in a recession. There is a huge disconnect between perception & reality.

Biden & Democrats risk coming off as completely out of touch if they brag about things like the stock market while many Americans are struggling to afford groceries or feel like homeownership is out of reach.

Even with inflation cooling and interest rates possibly going down in the near future, it will probably take a few years of steady wage gains for people to truly feel like the economy is going strong.

This was what I was going to ask, how is the economy, cost of living, etc? I think I read a couple months ago that America is doing better than a lot of European countries but it still isn't great and I don't know how much has improved since but if there's still millions struggling with the cost of living, struggling to afford basic necessities such as food, bragging about the stock market over and over is just going to piss a lot of people off and come across as insensitive/out of touch.

It varies month by month, inflation rate.
In march it was 3.4% in the US, and 2.6% in the EU.

You would need to look at it over a longer periode to make much sense of things.
America doesn't have to deal with Russian messing with gas/oil.... affecting them.
So it makes sense by that alone, that they would be doing slightly better.


I know intrest rates are much higher in the US.
Like 5-6% vs ~4% in EU.

Take a 5year look and compair:

https://tradingeconomics.com/united-states/inflation-cpi

vs

https://tradingeconomics.com/european-union/inflation-rate


You can see both "spiked" around the same time, in 2022, however EU spiked upto 11,5% while the US spiked at like 9.1%.
The US dropped its inflation slightly faster than the EU, and reached 3.5-4% and seems to have platoded.
Meanwhile the EU dropped it slowly, but its gone down lower, to 2,5-2,7% or so (and its only that high because of a few countries that arnt doing as well) (like in denmark its currently ~0.8%)

Over the same periode, I suspect both are equally poor off, from inflation.
If things keep going as they are, overtime the lower levelled off EU inflation would probably be better though.

I think the higher intrestrates in the US, probably hurt more currently as well.
If you have loans or are planning on buying a house or such.