The Democrats keep claiming there is a “disconnect” between what they Biden is doing for the economy and Americans’ attitudes toward the economy.
Well, in a straightforward report, a writer from the Atlantic may have finally spelled it out for them, although it’s doubtful it will make a difference.
So, what does Biden need to understand?
It’s the groceries, stupid.
Of course, when do you think was the last time Biden or anyone else in the Executive branch purchased groceries?
First off, most of the elite that are fashioning these policies either don’t go to the grocery store themselves or earn enough money it doesn’t effect them. However, going to the grocery store is a huge problem for the rest of us.
What’s hilarious, though, was the solution the Atlantic gave, which was almost comical.
The Atlantic did something interesting. They partnered with Leger, a polling firm, to ask 1,005 Americans about their economic views. And guess what? People are really unhappy about one thing in particular – grocery prices.
In this poll, a whopping 60% of people pointed to grocery prices as a top economic concern. Surprisingly, this outranked other factors like gas, housing, and interest rates.
But here’s where it gets intriguing. Pre-2020, Americans’ economic attitudes aligned closely with official statistics like the inflation rate. Post-pandemic? Not so much.
Housing costs soared, especially for Millennials in expensive cities. But for homeowners, this meant increased home equity, not financial strain.
But it was grocery prices that shot up by 11.8% in 2022, outpacing the overall inflation rate. This hits everyone’s wallet, unlike housing prices.
The writer in the Atlantic story shared a personal story about how a couple of years ago a six-pack of English Muffins cost $3.50 but now costs $5.59.
Here’s a quote:
My higher income feels like something I accomplished through hard work and patience, but the higher price of English muffins just feels wrong.I settle for cheaper, inferior brands while waiting in vain for Thomas to go back under $5. (Or I grab them when I’m at Target, where for some reason they’re still only $3.49.) Unlike most poll respondents, I don’t conclude from this that the economy is bad. On the very specific dimension of egg sandwiches, however, I suppose I do feel worse off.
Yeah, we feel worse off, it’s almost $1 an English muffin with tax. The writer admits he won’t pay $5.29 for English muffins it’s too much.
Here’s another quote that is going to be a big problem for Democrats soon.
The bad news is that, once prices hit a certain level, they tend to stay there. According to Hsu, consumer sentiment has made up about half the ground it lost from the eve of the pandemic to its nadir in June 2022, when inflation was at its peak. How quickly we close the rest of the gap may hinge on how long it takes Americans to stop pining for 2019 prices that are never coming back.
The liberal writer won’t say it, but people miss the economy under the Trump administration, and he’s claiming this is the new normal, so we just need to deal with it.
Folks, that’s not going to cut it and it’s why they are oblivious.
I actually heard similar sediments during random conversations with strangers. People miss the 2019 world and want it back.