Q&A Friday #48: Why Do People Think The Economy Isn’t Doing Well?
Question: “In spite of most of the evidence to the contrary, so many people feel the economy is not doing well. Is this due to gasoline prices? Or do people really think that this economy is no good?” — cubsfan3325
Answer: Most people don’t care much about GDP and the overall strength of the economy. They’re being influenced by things like:
#1) The mainstream media plays down the economy because a Republican is in the White House
#2) People hate to pay a lot for gas and they get reminded how high the gas prices are every time they go to the pump.
#3) The stock market isn’t going up as it did during the nineties.
People look at those things and errantly assume the economy is doing poorly, when in actuality, it’s been strong for roughly 3 years now.