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Harris Poll - Public Perceptions About The Economy (May 2024)
Gee... I wonder where the 50%+ that think the economy/market stinks or otherwise are pessimistic get their news from?
They form uninformed opinions, clearly. Financially illiterate, they hear bits and pieces and extrapolate in a wrong-headed direction. I have a wonderful friend who did not even know what the (stupid) Electoral College is! I explained it to him. He is actually a high school graduate. Jayzum snots!
It did not used to matter which channel or radio station you got your news from. It was factual. SIMPLY factual. STRAIGHTFORWARD. STRAIGHT. Remember straight?
No spin. No working of political assumptions into the reporting. But that doesn't work anymore. RATINGS are more important than facts. And generally the population is rather more stoopid, too. They don't know what to do with the facts. But we can blame it all on that evil EPSTEIN, and shout him down. “So long as they (the Proles) continued to work and breed, their other activities were without importance. Left to themselves, like cattle turned loose upon the plains of Argentina, they had reverted to a style of life that appeared to be natural to them, a sort of ancestral pattern...Heavy physical work, the care of home and children, petty quarrels with neighbors, films, football, beer and above all, gambling filled up the horizon of their minds. To keep them in control was not difficult.” (Orwell, 1984.)
Thinking vs. feeling. Remember the old Mazda commercials? "It just feels right." People get fed a line of junk, and buy into it because it serves their preconceived partisan purposes, whether or not any of it is fact-based.
Anyone who gets their information from Faux News or other conservative news outlets would think our economy is tanking and the worst ever. Unfortunately, that’s the case for a large segment of the US population.
Anyone who gets their information from Faux News or other conservative news outlets would think our economy is tanking and the worst ever. Unfortunately, that’s the case for a large segment of the US population.
Once media understood how to appeal to the political / societal instincts of its audience through sampling or interactive methods (like the internet) it realized it could retain more eyeballs by creating highly partisan “news” that would hold its prime audience and grow it. Since we humans are attracted to the scandalous and outrageous, applying these attributes to the already slanted news & commentary further increases the already fractionalized viewership and generates better profits for the purveyor. Other than the content sections of the WSJ I don’t see much out there that well serves Sargent Joe Friday’s admonition: “Just the facts Ma’m (or Sir). Nothin’ but the facts.”
Could it be that many are failing to realize that many folks are struggling to get by due to the exploding cost of living. The average person out there doesn't really care what the (propoganda) employment numbers are or what the (artificially juiced) stock market is doing...all they see is a car battery that cost $150 3 years ago now costs $225-250...a case of bottled water now costs $7.50 vs $3.50 3 years ago...try calling a plumber to your home, go out to eat, buy a new car...go grocery shopping...pay your property taxes..that is real world not some modern day version of Orwell's 1984 of some dystopian govt trying to gaslight the general public with distorted reality...of wait...uh, huh, inflation is coming down, the border is secure, safe and effective, crime is down (laughable and frightening that some believe this!..many don't even waste their time reporting it now) unemployment is low, inflation reduction act...oh my gosh...the book is turning into reality...
you guy's along with Krugman are living in a fairy tale dream land...
Other than the content sections of the WSJ I don’t see much out there that well serves Sargent Joe Friday’s admonition:
Good point about WSJ content vs. opinion pieces - a distinction I've tried to draw elsewhere (e.g. when NYTimes opinion pieces are cited for facts as opposed to analyses).
I just had an interesting conversation with someone who asserted that Soros was funding anti-Israel protestors. While i seriously doubt this, I'm willing to keep an open mind (though not an empty head). i asked where this info was coming from. Response: WSJ. So I asked, opinion pieces or news? Response: Both. I was advised to do a google search to verify.
Look what pages are returned: opinion, opinion, opinion.
A variation of confirmation bias. Something that you agree with must likely be fact, not opinion. I suspect (i.e. my opinion) that people formulate perceptions based on finding opinions that they want to take as facts.
This is not to say that opinion pieces are not worth reading. A good analysis, whether you agree with it or not, can stimulate thought. Whether it is by Paul Krugman or Bret Stephens.
@Baseball_Fan - Exactly what is that “average person” you are referring to? Could you give a little more detail? Is that white or all-race inclusive? Is that city dwelling or rural? Church going? Or are atheists like myself included? Does this average person have a K-12 education? Or is the average person more highly educated? The term is so vague it could even apply to recent Latino immigrants. That’s exactly the kind of generalizing that leads to the wild assumption that the country’s unemployment rate is at a 50-year high (cited in the Harris poll)
At MFO we like to deal in real numbers. Hard to invest if we can’t. Provide some support for the cost of that battery? Which battery? Many cars use larger more expensive batteries today to supply additional propulsion. Which bottled water (by name) are we referring to? How much bottled water does this “average person” consume anyhow? Would you reduce tarrifs on Chinese made autos to help bring down car prices? Or would your “average person” refuse to drive a foreign branded vehicle?
When presented with facts or factual questions the oft-heard response from the right wing is: “the numbers are crooked” or “the books are cooked.” In short: There’s nothing to discuss here. So how in hell can we discuss real numbers intelligently or draw meaningful inferences from them?
One article tried to break it down by Renters vs. Homeowners.
Renters have experienced recent rental price increases and are more likely to be on the lower rungs of the income spectrum. They are getting hit from all ends. Meanwhile, Homeowners have enjoyed price appreciation, lower mortgage interest rates (well, those who had locked in years ago) and are more likely to own stocks.
Maybe a separate thread topic...but Insurance is a killer, in my mind. Health, home, car, etc. I feel like in the US we are slowly becoming slaves to insurance companies. How many workers still cling to their jobs just to have health insurance benefits? It's just wrong. And it will only get worse.
You all should have realized by now that BF rarely if ever responds to a critique or criticism of the ridiculous nonsense he spews. He's quite prone to just tossing whatever crap comes into his head much like his cheeto mentor and will not engage in a discussion of same. A classic everyday internet troll, such a sad way to get your jollies. I wish he would engage with facts or evidence because at times he almost sounds coherent.
...And on and on and on. STOOPID decisions by City Councils, The U.S. Navy, and how many other proper Authorities??? ************* That might be the only thing that BF and I agree on.
...And on and on and on. STOOPID decisions by City Councils, The U.S. Navy, and how many other proper Authorities??? ************* That might be the only thing that BF and I agree on.
Yeah. That stuff really sucks. Not kidding.
Are you sure that's why "average Americans" are buying bottled water by the case/flat?
People I see at Walmart are buying carbonated high-fructose corn syrup. Are they average? I dunno.
People complaining about the price of 12-24 12 ounce bottles of water are probably irritated about lots of things I don't worry about. Lattes? Avocado toast?
Comments
dAnd these people are permitted to VOTE.
Winston Churchill
It did not used to matter which channel or radio station you got your news from. It was factual. SIMPLY factual. STRAIGHTFORWARD. STRAIGHT. Remember straight?
No spin. No working of political assumptions into the reporting. But that doesn't work anymore. RATINGS are more important than facts. And generally the population is rather more stoopid, too. They don't know what to do with the facts. But we can blame it all on that evil EPSTEIN, and shout him down.
“So long as they (the Proles) continued to work and breed, their other activities were without importance. Left to themselves, like cattle turned loose upon the plains of Argentina, they had reverted to a style of life that appeared to be natural to them, a sort of ancestral pattern...Heavy physical work, the care of home and children, petty quarrels with neighbors, films, football, beer and above all, gambling filled up the horizon of their minds. To keep them in control was not difficult.” (Orwell, 1984.)
Again
CriticalThinking has left the building.Wait... hold it... possible correction to follow...
you guy's along with Krugman are living in a fairy tale dream land...
Good point about WSJ content vs. opinion pieces - a distinction I've tried to draw elsewhere (e.g. when NYTimes opinion pieces are cited for facts as opposed to analyses).
I just had an interesting conversation with someone who asserted that Soros was funding anti-Israel protestors. While i seriously doubt this, I'm willing to keep an open mind (though not an empty head). i asked where this info was coming from. Response: WSJ. So I asked, opinion pieces or news? Response: Both. I was advised to do a google search to verify.
Here's the search: site:wsj.com Soros funding protests
Look what pages are returned: opinion, opinion, opinion.
A variation of confirmation bias. Something that you agree with must likely be fact, not opinion. I suspect (i.e. my opinion) that people formulate perceptions based on finding opinions that they want to take as facts.
This is not to say that opinion pieces are not worth reading. A good analysis, whether you agree with it or not, can stimulate thought. Whether it is by Paul Krugman or Bret Stephens.
At MFO we like to deal in real numbers. Hard to invest if we can’t. Provide some support for the cost of that battery? Which battery? Many cars use larger more expensive batteries today to supply additional propulsion. Which bottled water (by name) are we referring to? How much bottled water does this “average person” consume anyhow? Would you reduce tarrifs on Chinese made autos to help bring down car prices? Or would your “average person” refuse to drive a foreign branded vehicle?
When presented with facts or factual questions the oft-heard response from the right wing is: “the numbers are crooked” or “the books are cooked.” In short: There’s nothing to discuss here. So how in hell can we discuss real numbers intelligently or draw meaningful inferences from them?
Renters have experienced recent rental price increases and are more likely to be on the lower rungs of the income spectrum. They are getting hit from all ends. Meanwhile, Homeowners have enjoyed price appreciation, lower mortgage interest rates (well, those who had locked in years ago) and are more likely to own stocks.
Maybe a separate thread topic...but Insurance is a killer, in my mind. Health, home, car, etc. I feel like in the US we are slowly becoming slaves to insurance companies. How many workers still cling to their jobs just to have health insurance benefits? It's just wrong. And it will only get worse.
>> along with Krugman are living in a fairy tale dream land...
whenever you post these silly responses it becomes clear that you simply don't read what it is you're responding to
you may not like the conclusions but altogether evidentiary is what the argument is
But why do "average people" buy bottled water by the case? When did that become a necessity?
https://www.civilbeat.org/2021/12/how-the-red-hill-fuel-system-has-threatened-oahus-drinking-water-for-decades/
https://en.wikipedia.org/wiki/A_Civil_Action_(film)
...And on and on and on. STOOPID decisions by City Councils, The U.S. Navy, and how many other proper Authorities???
*************
That might be the only thing that BF and I agree on.
Are you sure that's why "average Americans" are buying bottled water by the case/flat?
People I see at Walmart are buying carbonated high-fructose corn syrup. Are they average? I dunno.
People complaining about the price of 12-24 12 ounce bottles of water are probably irritated about lots of things I don't worry about. Lattes? Avocado toast?