Anyone here hurt by rising interest rates/recession yet?

[Winehole23]

[TSA]

“More than half of Americans (52%) say they and their family are worse off today than they were four years ago, while 39% say they are better off and 8% volunteer that they are about the same. The 2024 response is most similar to 1992 among presidential election years in which Gallup has asked the question,” the analysis out Friday morning said."

“In 1992, a relatively low 38% of Americans said they were better off with the ECI at -37; and the in bent, George H.W. Bush, lost. In 2004, when nearly half said they were better off and the ECI was +1, and George W. Bush won reelection. Similarly, 45% felt better off in 2012 when the ECI was -1, and Barack Obama won. Yet, in 2020, while 55% claimed to be better off and the ECI was -4, Trump lost his reelection bid — a sign that noneconomic factors were paramount to voters that year,” Gallup wrote.

“Gallup’s latest measurement of Americans’ economic views, from an Oct. 1-12 poll, puts the ECI at -26 — one of the worst election-year readings, along with the 39% ‘better off’ reading from September,” the polling outfit said.

ooof

[spurraider21]

from 2020 exit polls, only 40% of people felt they were better off today than 4 years ago

the "are we headed in the right direction" poll has been under 50% consistently since like 2004 or so

these have been consistent sentiments regardless of when asked and who was president

[Blake]

“More than half of Americans (52%) say they and their family are worse off today than they were four years ago, while 39% say they are better off and 8% volunteer that they are about the same. The 2024 response is most similar to 1992 among presidential election years in which Gallup has asked the question,” the analysis out Friday morning said."

“In 1992, a relatively low 38% of Americans said they were better off with the ECI at -37; and the in bent, George H.W. Bush, lost. In 2004, when nearly half said they were better off and the ECI was +1, and George W. Bush won reelection. Similarly, 45% felt better off in 2012 when the ECI was -1, and Barack Obama won. Yet, in 2020, while 55% claimed to be better off and the ECI was -4, Trump lost his reelection bid — a sign that noneconomic factors were paramount to voters that year,” Gallup wrote.

“Gallup’s latest measurement of Americans’ economic views, from an Oct. 1-12 poll, puts the ECI at -26 — one of the worst election-year readings, along with the 39% ‘better off’ reading from September,” the polling outfit said.

ooof

Are you worse off?

[TSA]

from 2020 exit polls, only 40% of people felt they were better off today than 4 years ago

the "are we headed in the right direction" poll has been under 50% consistently since like 2004 or so

these have been consistent sentiments regardless of when asked and who was president

Exit polls aren't Gallup polls you are comparing apples to oranges. Gallup 2020 55% better off. Gallup 2024 39% better off.

[TSA]

Are you worse off?

Yes. I've had much less money to invest with how much more expensive everything has gotten in an already expensive California.

Are you better off?

[ChumpDumper]

I am.

You must be doing it wrong.

[Blake]

Yes. I've had much less money to invest with how much more expensive everything has gotten in an already expensive California.

Are you better off?

Absolutely. I was in a somewhat tight spot in the middle of the Covid economy in 2020. Sorry things haven't turned around for you since then.

[TSA]

Absolutely. I was in a much tighter spot coming out of the Covid economy. Sorry things haven't turned around for you since then.

Good to hear. Covid economy didn't hurt my line of work so inflation has definitely affected my family. We aren't struggling in the least bit and are doing fine with the salaries my wife and I bring in but we've definitely had to cut back on how much we invest with the rising costs of everything while having two kids.

[TSA]

I am.

You must be doing it wrong.

Cool story.

[spurraider21]

Exit polls aren't Gallup polls you are comparing apples to oranges. Gallup 2020 55% better off. Gallup 2024 39% better off.

can you send the 2020 gallup poll?

i tried looking but due to recency every search result was just 2024

with that said, the polling data is always frustrating because it often flies in the face of the actual trackable data. people still think their groceries are 3x more expensive than they were 4 years ago or some nonsense like that. trump recently gave an interview to dave ramsey where ramsey, a purported financial guru, was telling him that americans today are upset about $7 eggs when the average dozen eggs in the US currently sells at $3.80 or so.

people will opine that crime is up when the stats show that crime is down, etc.

since the pandemic, cost of goods has generally gone up by a ulative 20.8%, while wages over that same time period have grown by 22.3%. we've had a very healthy unemployment rate for years now.

people will hear re ed talking points about how job gains have gone to immigrants and that native born workers have seen a net loss in jobs (despite the fact that many of these immigrants are US citizens). this doesnt take into account that a load of native born americans that have hit and are continuing to hit retirement age, and that the unemployment rate for native born americans is basically as low as its been in the last 20 years

but you poll people on these same subjects and theyll believe something different

[ChumpDumper]

Good to hear. Covid economy didn't hurt my line of work so inflation has definitely affected my family. We aren't struggling in the least bit and are doing fine with the salaries my wife and I bring in but we've definitely had to cut back on how much we invest with the rising costs of everything while having two kids.

Cool story.

[ChumpDumper]

I'm glad all you Trump s think his tariffs are going to bring back low prices and fund free childcare.

[spurraider21]

ive lucked out timing wise. i kept my CA job when i moved to VA 5 years ago, no COLA adjustment or any nonsense like that. so my cost of living plummeted while my pay stayed the same and continued to climb. i guess the caveat was we were cashflowing most of my wife's tuition, so that ate into some if it. some added expense after having our first kid, but again, the staggeringly low cost of living in charlottesville went a long way (though locals there keep complaining about how expensive its gotten)

also lucked out timing wise as we bought our house there in october 2020 so we have a great interest rate.

now fast forward and we have a second kid soon to turn 1, my wife is making resident money (which isnt very good money, but beats the out of paying tuition instead), and while cost of living in vegas is somewhat higher than charlottesville, its not even close to what we had back in LA. the added income more than compensates for the cost of living difference from VA to here. tbh if it were up to me, we'd stay in Vegas long term, and hopefully at least a few years even after residency finishes, just to be able to stockpile some money before inevitably moving back to LA (cant keep the kids away from all that extended fam)

i know my situation doesnt reflect the typical person, and im sure inflation hurt a lot of people. but all the interest rates did to me was make it an easier decision to keep and rent out my VA home, while letting me make some safe extra money in savings accounts and tbills and whatnot for a while

i dont make crazy money, but i guess its all relative. can life super comfortably on my pay here. wouldnt have been remotely the same living in LA all this time. probably would have been more impacted by housing costs and whatnot if we hadnt moved. certainly wouldnt have been in position to buy a home.

[TSA]

can you send the 2020 gallup poll?

i tried looking but due to recency every search result was just 2024

with that said, the polling data is always frustrating because it often flies in the face of the actual trackable data. people still think their groceries are 3x more expensive than they were 4 years ago or some nonsense like that. trump recently gave an interview to dave ramsey where ramsey, a purported financial guru, was telling him that americans today are upset about $7 eggs when the average dozen eggs in the US currently sells at $3.80 or so.

people will opine that crime is up when the stats show that crime is down, etc.

since the pandemic, cost of goods has generally gone up by a ulative 20.8%, while wages over that same time period have grown by 22.3%. we've had a very healthy unemployment rate for years now.

people will hear re ed talking points about how job gains have gone to immigrants and that native born workers have seen a net loss in jobs (despite the fact that many of these immigrants are US citizens). this doesnt take into account that a load of native born americans that have hit and are continuing to hit retirement age, and that the unemployment rate for native born americans is basically as low as its been in the last 20 years

but you poll people on these same subjects and theyll believe something different

The stats I posted were from the article so I don't have the link to the 2020 Gallup poll.

Groceries are still up from 4 years ago...everything is up from 4 years ago.

Crime is most likely up. The FBI made huge revisions to 2021 and 2022 date and didn't tell the public they revised them. It's not a stretch the same revisions will be made to the 2023 data showing crime was actually up.

https://www.realclearinvestigations....s_1065396.html

The jobs numbers have been revised down after release almost every month.

Trying to tell the middle class/lower class Americans that everything is fine and the economy is doing great doesn't resonate with them when a ton of them are struggling to make ends meet now with the rising costs they've faced the last 4 years.

[TSA]

ive lucked out timing wise. i kept my CA job when i moved to VA 5 years ago, no COLA adjustment or any nonsense like that. so my cost of living plummeted while my pay stayed the same and continued to climb. i guess the caveat was we were cashflowing most of my wife's tuition, so that ate into some if it. some added expense after having our first kid, but again, the staggeringly low cost of living in charlottesville went a long way (though locals there keep complaining about how expensive its gotten)

also lucked out timing wise as we bought our house there in october 2020 so we have a great interest rate.

now fast forward and we have a second kid soon to turn 1, my wife is making resident money (which isnt very good money, but beats the out of paying tuition instead), and while cost of living in vegas is somewhat higher than charlottesville, its not even close to what we had back in LA. the added income more than compensates for the cost of living difference from VA to here. tbh if it were up to me, we'd stay in Vegas long term, and hopefully at least a few years even after residency finishes, just to be able to stockpile some money before inevitably moving back to LA (cant keep the kids away from all that extended fam)

i know my situation doesnt reflect the typical person, and im sure inflation hurt a lot of people. but all the interest rates did to me was make it an easier decision to keep and rent out my VA home, while letting me make some safe extra money in savings accounts and tbills and whatnot for a while

i dont make crazy money, but i guess its all relative. can life super comfortably on my pay here. wouldnt have been remotely the same living in LA all this time. probably would have been more impacted by housing costs and whatnot if we hadnt moved. certainly wouldnt have been in position to buy a home.

I'm stuck in California until interest comes down and we can sell our home. We bought it in 2010 when market in Southern California was dirt cheap and have a super low interest rate. The value of our home has more than tripled so have tons of equity but aren't going to sell and then have an interest rate more than 3x where we are at now. Almost pulled the trigger on a house in Lake Tahoe a while back but wife and I dragged our feet because of changing our kids schools and then interest rates shot up so now we are just going to stay here in Socal and wait things out.

[spurraider21]

yes many are struggling to make ends meet. many more are objectively better off than they were 4 years ago.

[spurraider21]

I'm stuck in California until interest comes down and we can sell our home. We bought it in 2010 when market in Southern California was dirt cheap and have a super low interest rate. The value of our home has more than tripled so have tons of equity but aren't going to sell and then have an interest rate more than 3x where we are at now. Almost pulled the trigger on a house in Lake Tahoe a while back but wife and I dragged our feet because of changing our kids schools and then interest rates shot up so now we are just going to stay here in Socal and wait things out.

depending on where you're at in socal, if your home value has more than tripled, you can sell that and just buy cash elsewhere and not worry about interest rates at all.

[ChumpDumper]

The stats I posted were from the article so I don't have the link to the 2020 Gallup poll.

Groceries are still up from 4 years ago...everything is up from 4 years ago.

Crime is most likely up. The FBI made huge revisions to 2021 and 2022 date and didn't tell the public they revised them. It's not a stretch the same revisions will be made to the 2023 data showing crime was actually up.

https://www.realclearinvestigations....s_1065396.html

The jobs numbers have been revised down after release almost every month.

Trying to tell the middle class/lower class Americans that everything is fine and the economy is doing great doesn't resonate with them when a ton of them are struggling to make ends meet now with the rising costs they've faced the last 4 years.

What would Trump have done to counter inflation and fight crime?

[TSA]

What would Trump have done to counter inflation and fight crime?

You're about to find out

[ChumpDumper]

You're about to find out

TSA folds

[Winehole23]

[Winehole23]

(tariffs are paid by importers, not by the country of origin)

[TSA]

OOF

[ChumpDumper]

OOF

What is Trump’s economic plan?