"Shrinking paychecks are a recession for most people. Amazingly, the “experts” do not understand this. They confine their perspective to the the top-level macroeconomic data and claim the economy is growing."
You are 100% correct about that. Nothing makes me more angry than watching a news program that says we don't have to worry about a …
"Shrinking paychecks are a recession for most people. Amazingly, the “experts” do not understand this. They confine their perspective to the the top-level macroeconomic data and claim the economy is growing."
You are 100% correct about that. Nothing makes me more angry than watching a news program that says we don't have to worry about a recession because consumer spending has been "resilient" and people are spending more than before. Well, duh! They HAVE to spend more than before because everything costs more than it did before. They aren't buying more, they are just spending more for the same (or less) stuff.
"Shrinking paychecks are a recession for most people. Amazingly, the “experts” do not understand this. They confine their perspective to the the top-level macroeconomic data and claim the economy is growing."
You are 100% correct about that. Nothing makes me more angry than watching a news program that says we don't have to worry about a recession because consumer spending has been "resilient" and people are spending more than before. Well, duh! They HAVE to spend more than before because everything costs more than it did before. They aren't buying more, they are just spending more for the same (or less) stuff.
Inflation always means people spend more to buy less.