"The numbers in the paper are unexpectedly good. Tuesday’s inflation report showed that prices have moderated, growing at 3.2 percent (core inflation at 2.8 percent), down from last summer’s peak of 9.1 percent. Fed-watchers think the central bank will not raise interest rates further, which will free up capital for further investment. “The hard part of the inflation fight now looks over,” David Mericle, chief U.S. economist at Goldman Sachs, wrote to clients. In response to this news, the markets soared: The S&P 500 registered a 1.9 percent increase, the Dow Jones Industrial Average a 1.4 percent increase, and NASDAQ a 2.4 percent increase.

These positive developments are not exactly new or surprising. ...

So why is everyone miserable?

This is not just a talking point; Americans are not happy about something. Despite the figures above, large numbers of Americans have specific complaints about the economy. They complain about inflation and the handling of entitlement programs, and they say the overall condition of the economy is “bad.” Sixty-nine percent say the nation is “on the wrong track.” President Biden’s approval rating floats around 40 percent, while his disapproval rating is well over 50 percent. (The “Bidenomics” moniker for his domestic policy cocktail is especially toxic, given the president’s 34 percent approval on handling economic issues.) It’s no surprise that he is in a race that is too close to call with former President Trump, who, whatever his virtues, also faces some unprecedented challenges as a candidate. What gives?

A devil or two lurk in the economic numbers. While inflation has slowed, prices remain high after a stretch of once-in-a-generation hikes; price decreases are unlikely, and perhaps even undesirable. (Remember the warnings about Japanification?) Job growth has come mostly in low-desirability service sector jobs. On a local level—which is to say, the level on which most people spend most of their conscious thought—many parts of the country are still experiencing the malign effects of deindustrialization. Yet that seems unlikely to be the whole story. Local deindustrialization did not hurt Clinton’s approval ratings enough to cancel out a booming stock market.

One thing is the level of economic uncertainty. ... Things are good now, but there is a weakened sense that the state won’t just pull the economic rug out from under the American people in an arbitrary, unpredictable way (unlike the usual boom-and-bust cycle, which can at least be prepared for and often predicted). "

https://www.theamericanconservative.com/

Era of low trust toward the government leads to the era of diminishing hope and bad feelings.

On Thursday, November 16, 2023 at 9:39:34 PM UTC, ltlee1 wrote:
> "The numbers in the paper are unexpectedly good. Tuesday’s inflation report showed that prices have moderated, growing at 3.2 percent (core inflation at 2.8 percent), down from last summer’s peak of 9.1 percent. Fed-watchers think the central bank will not raise interest rates further, which will free up capital for further investment. “The hard part of the inflation fight now looks over,” David Mericle, chief U.S. economist at Goldman Sachs, wrote to clients. In response to this news, the markets soared: The S&P 500 registered a 1.9 percent increase, the Dow Jones Industrial Average a 1.4 percent increase, and NASDAQ a 2.4 percent increase.
>
> These positive developments are not exactly new or surprising. ...
>
> So why is everyone miserable?
>
> This is not just a talking point; Americans are not happy about something.. Despite the figures above, large numbers of Americans have specific complaints about the economy. They complain about inflation and the handling of entitlement programs, and they say the overall condition of the economy is “bad.” Sixty-nine percent say the nation is “on the wrong track.” President Biden’s approval rating floats around 40 percent, while his disapproval rating is well over 50 percent. (The “Bidenomics” moniker for his domestic policy cocktail is especially toxic, given the president’s 34 percent approval on handling economic issues.) It’s no surprise that he is in a race that is too close to call with former President Trump, who, whatever his virtues, also faces some unprecedented challenges as a candidate. What gives?
>
> A devil or two lurk in the economic numbers. While inflation has slowed, prices remain high after a stretch of once-in-a-generation hikes; price decreases are unlikely, and perhaps even undesirable. (Remember the warnings about Japanification?) Job growth has come mostly in low-desirability service sector jobs. On a local level—which is to say, the level on which most people spend most of their conscious thought—many parts of the country are still experiencing the malign effects of deindustrialization. Yet that seems unlikely to be the whole story. Local deindustrialization did not hurt Clinton’s approval ratings enough to cancel out a booming stock market.
>
> One thing is the level of economic uncertainty. ... Things are good now, but there is a weakened sense that the state won’t just pull the economic rug out from under the American people in an arbitrary, unpredictable way (unlike the usual boom-and-bust cycle, which can at least be prepared for and often predicted). "
>
> https://www.theamericanconservative.com/
>
> Era of low trust toward the government leads to the era of diminishing hope and bad feelings.

What the TAC article does not address is the obvious change. Citizens are looking further into the future and
see little light at the end of the tunnel. Otherwise, good number today would take care of the present. Election
next year and new and better leadership would take care of the years ahead. Diminishing optimism toward
America's electoral democracy, however, casts doubt on whether another round of electoral politics would
change much. Continuing polarization does not necessarily contribute to solve the country's problems.

On Saturday, November 18, 2023 at 3:38:00 PM UTC, ltlee1 wrote:
> On Thursday, November 16, 2023 at 9:39:34 PM UTC, ltlee1 wrote:
> > "The numbers in the paper are unexpectedly good. Tuesday’s inflation report showed that prices have moderated, growing at 3.2 percent (core inflation at 2.8 percent), down from last summer’s peak of 9.1 percent. Fed-watchers think the central bank will not raise interest rates further, which will free up capital for further investment. “The hard part of the inflation fight now looks over,” David Mericle, chief U.S. economist at Goldman Sachs, wrote to clients. In response to this news, the markets soared: The S&P 500 registered a 1.9 percent increase, the Dow Jones Industrial Average a 1.4 percent increase, and NASDAQ a 2.4 percent increase.
> >
> > These positive developments are not exactly new or surprising. ...
> >
> > So why is everyone miserable?
> >
> > This is not just a talking point; Americans are not happy about something. Despite the figures above, large numbers of Americans have specific complaints about the economy. They complain about inflation and the handling of entitlement programs, and they say the overall condition of the economy is “bad.” Sixty-nine percent say the nation is “on the wrong track.” President Biden’s approval rating floats around 40 percent, while his disapproval rating is well over 50 percent. (The “Bidenomics” moniker for his domestic policy cocktail is especially toxic, given the president’s 34 percent approval on handling economic issues.) It’s no surprise that he is in a race that is too close to call with former President Trump, who, whatever his virtues, also faces some unprecedented challenges as a candidate. What gives?
> >
> > A devil or two lurk in the economic numbers. While inflation has slowed, prices remain high after a stretch of once-in-a-generation hikes; price decreases are unlikely, and perhaps even undesirable. (Remember the warnings about Japanification?) Job growth has come mostly in low-desirability service sector jobs. On a local level—which is to say, the level on which most people spend most of their conscious thought—many parts of the country are still experiencing the malign effects of deindustrialization. Yet that seems unlikely to be the whole story. Local deindustrialization did not hurt Clinton’s approval ratings enough to cancel out a booming stock market.
> >
> > One thing is the level of economic uncertainty. ... Things are good now, but there is a weakened sense that the state won’t just pull the economic rug out from under the American people in an arbitrary, unpredictable way (unlike the usual boom-and-bust cycle, which can at least be prepared for and often predicted). "
> >
> > https://www.theamericanconservative.com/
> >
> > Era of low trust toward the government leads to the era of diminishing hope and bad feelings.
> What the TAC article does not address is the obvious change. Citizens are looking further into the future and
> see little light at the end of the tunnel. Otherwise, good number today would take care of the present. Election
> next year and new and better leadership would take care of the years ahead. Diminishing optimism toward
> America's electoral democracy, however, casts doubt on whether another round of electoral politics would
> change much. Continuing polarization does not necessarily contribute to solve the country's problems.

Election integrity is also a problem.

"A majority of voters expect cheating to influence next year’s presidential election, and see mail-
in voting as part of the problem.

The latest Rasmussen Reports national telephone and online survey finds that 56% of Likely U.S.
voters believe cheating is likely to affect the outcome of the next presidential election, including
31% who think it’s Very Likely. Thirty-seven percent (37%) say election cheating is unlikely to affect
the 2024 outcome, including 16% who consider it Not At All Likely. "

https://www.rasmussenreports.com/public_content/politics/biden_administration/election_integrity_56_say_cheating_likely_in_2024