Top economist on the economy’s dirty truth: The only people who feel good are ‘making over $200,000’ and ‘have large stock portfolios’

Submitted ⁨⁨3⁩ ⁨days⁩ ago⁩ by ⁨MicroWave@lemmy.world⁩ to ⁨economics@lemmy.world⁩

https://finance.yahoo.com/news/economy-looks-better-feels-inflation-144117914.html

Inflation may be increasing at a slower pace than expected, the markets might be cheering, and the Fed will likely soon be cutting, but Diane Swonk isn’t popping Champagne.

The veteran economist says the economy “looks better than it feels” because the very data used to measure it is eroding, and the illusion of resilience could shatter heading into the fourth quarter.

“The only groups that feel good about the economy now are making over $200,000 in the surveys and have large stock portfolios,” Swonk said.

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HeyJoe@lemmy.world ⁨3⁩ ⁨days⁩ ago
Is that 200k per person or does per family count?

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- Truscape@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago
  Depends on if that money is assets or income. Also depends if you have any outstanding debts.
  
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  - AlecSadler@lemmy.blahaj.zone ⁨3⁩ ⁨days⁩ ago
    Yeah, I make well over $200k but between general COL, family medical things, a lot of past debts, and zero investments - I’m basically check to check right now.
    
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- MadMadBunny@lemmy.ca ⁨3⁩ ⁨days⁩ ago
  Per person
  
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  - iopq@lemmy.world ⁨3⁩ ⁨days⁩ ago
    Those poor dual income no kids families who only make $190K each
    
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expatriado@lemmy.world ⁨3⁩ ⁨days⁩ ago
those portfolios about to shrink, when the AI round tripping scheme of the major market players collapses

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- viking@infosec.pub ⁨3⁩ ⁨days⁩ ago
  Smart investors aren’t all in and use the drop to gobble up shares.
  
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  - sj_zero ⁨20⁩ ⁨hours⁩ ago
    Sensitive Content
    Bulls make money, bears make money, pigs get slaughtered. Usually it's retail investors who end up getting slaughtered.
    
    Even people going deeply into risky bets usually have a "barbell" strategy where they'll rebalance from the high risk high growth to low risk low growth so they can see growth but in a downturn they aren't facing huge losses.
davidagain@lemmy.world ⁨2⁩ ⁨days⁩ ago
Correction: The only people who feel good about the economy are earning over 200k.

I can feel good about other things including my wife, my family, my friends, my colleagues, my music, films, tv etc without a stock portfolio, thank you very much.

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