{"id":2222915,"date":"2024-04-17T03:48:02","date_gmt":"2024-04-17T07:48:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-depressed-by-bidenflation-arent-buying-medias-economic-lies\/"},"modified":"2024-04-17T03:54:00","modified_gmt":"2024-04-17T07:54:00","slug":"americans-depressed-by-bidenflation-arent-buying-medias-economic-lies","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/americans-depressed-by-bidenflation-arent-buying-medias-economic-lies\/","title":{"rendered":"Americans affected by rising prices under the Biden administration are skeptical of the media&#8217;s portrayal of the economy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">36<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Famericans-depressed-by-bidenflation-arent-buying-medias-economic-lies%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2222915&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The article discusses Americans&#8217; skepticism towards the economy despite positive job creation and the reality of inflation\u2063 exceeding expectations for the \u2064third\u2064 consecutive month. \u200bIt delves \u200cinto\u200c the \u2062impact \u200cof rising prices on\u200c <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-third-round-of-december-payments-worth-4555-to-be-sent-out-in-five-days\/\" title=\"Social Security update: ,555 payments to be sent in 5 days\">daily \u200cexpenses<\/a> and its influence on public perception of the economy, highlighting the disconnect\u200d between economic data and\u200b public sentiment. The\u200c article delves into Americans&#8217; skepticism \u2064toward the economy despite positive job creation\u200b and the persistent issue of inflation exceeding expectations for \u200dthe third consecutive month. It explores how \u200brising prices\u200d impact \u200ddaily expenses and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/russia-claims-it-killed-three-americans-in-ukraine-here-are-the-facts\/\" title=\"Russia Claims It Killed Three Americans In Ukraine. Here Are The Facts\">shape public perception<\/a> of the economy, emphasizing the gap between\u2062 economic data and\u2064 public sentiment.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<p><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"article-content\">\n<p>After the economy created a higher-than-expected number of <a href=\"https:\/\/www.politico.com\/news\/2024\/04\/05\/employers-jobs-report-march-00150764\" target=\"_blank\" rel=\"noreferrer noopener\">jobs in March<\/a>, analysts continued asking a persistent question: Why do Americans remain so sour about the nation\u2019s economy?<\/p>\n<p>Several days later, the release of inflation numbers that <a href=\"https:\/\/www.wsj.com\/economy\/inflation-march-cpi-report-interest-rate-239b7e5e\">exceeded expectations<\/a> for the third straight month provided the obvious explanation. The March numbers, which show inflation remains above Federal Reserve targets and above expectations, made even the corporate media raise questions about the economy\u2019s future direction.<\/p>\n<div class=\"fdrlst__b89e9-paragraph-2-long d-flex justify-content-center\" style=\"margin-left: auto; margin-right: auto; text-align: center; \" id=\"fdrlst__b89e9-1393214753\">\n<div id=\"div-gpt-ad-1379703300879-0\" class=\"mb-30\"><\/div>\n<\/div>\n<div class=\"fdrlst__b89e9-61d3f1a9e77548b13eb6eb09548e2dac fdrlst__b89e9-paragraph-2\" id=\"fdrlst__b89e9-61d3f1a9e77548b13eb6eb09548e2dac\"><\/div>\n<p>But well before the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ortiz-bidenflation-is-the-next-pandemic\/\" title=\"Ortiz: Bidenflation Is the Next Pandemic\">latest inflation numbers<\/a> came out, the answer has been staring Americans in the face for months \u2014 every week, when they go to the grocery store. Because the nation\u2019s families see the effects of \u201cBidenflation\u201d on their wallets, the rapid price run-up over the past several years will keep them in a gloomy mood.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Recession Not in Sight?<\/strong><\/h2>\n<p>Two articles published in The Wall Street Journal on the same day explain the disconnect. The first, a <a href=\"https:\/\/www.wsj.com\/economy\/consumers\/whats-wrong-with-the-economy-its-you-not-the-data-cfa911e6?mod=trending_now_news_3\" target=\"_blank\" rel=\"noreferrer noopener\">column<\/a> by Greg Ip titled, \u201cWhat\u2019s Wrong with the U.S. Economy? It\u2019s You, Not the Data,\u201d listed statistics showing strong economic growth over the past year, coupled with a slowing of inflation.<\/p>\n<p>The column looked at various polls and surveys to try to explain the disconnect between the data underlying the economy\u2019s supposed strength and public opinion regarding it. Among other theories, Ip noted that the public seems more positive about the economy in their own state than nationwide. This is similar to how the public generally hates Congress as a whole but approves of their own representative. Ip even suggested that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/papa-john-says-pr-company-planted-racism-allegations-after-he-would-not-pay-6m\/\" title=\"\u2018Papa John\u2019 Says PR Company Planted Racism Allegations After He Would Not Pay M\">negative media coverage<\/a> could cause economic pessimism. (Seriously.)<\/p>\n<h2 class=\"wp-block-heading\"><strong>Higher Prices, Higher Pessimism<\/strong><\/h2>\n<p>The lead paragraph of <a href=\"https:\/\/www.wsj.com\/business\/retail\/inflation-food-price-of-groceries-2024-5010700b?mod=trending_now_news_4\" target=\"_blank\" rel=\"noreferrer noopener\">another article<\/a> published five hours later provides a ready explanation: \u201cThe <em>Wall Street Journal <\/em>analyzed NielsenIQ data reflecting a selection of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-jumps-more-than-expected-in-january\/\" title=\"Inflation Jumps More Than Expected in January\">commonly purchased items<\/a> that were valued at a total of $100 in 2019. Today, that same grocery list costs 36.5% more. \u2026 Shoppers would have to remove almost $37 of items to spend the same amount as in 2019.\u201d<\/p>\n<div class=\"fdrlst__b89e9-dec2fb618dd0edd9af60177887aa215d fdrlst__b89e9-paragraph-6\" id=\"fdrlst__b89e9-dec2fb618dd0edd9af60177887aa215d\"><\/div>\n<p>When, as the Journal survey noted, prices of hundreds of grocery items, including things like cooking oil, beef, mayonnaise, and applesauce, have all increased by more than 50 percent over the past five years, it\u2019s little wonder that the average consumer feels beleaguered. The Journal interviewed one retiree in Vermont who said that \u201cshe tries to think of trips to the store like procurement raids depicted in apocalyptic novels, where the goal is to stock her fridge, freezer, and pantry for as little money as possible.\u201d<\/p>\n<p>Note to Greg Ip: If Americans view a trip to the supermarket \u2014 which most families make once per week, if not more often \u2014 as an exercise nearly as intense as a zombie apocalypse, they\u2019re not going to feel positive about the economy any time soon.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Inflation Breeds Widespread Pain<\/strong><\/h2>\n<p>Numerous factors explain why inflation has such an overarching effect on consumers\u2019 collective psyche.<\/p>\n<p>First, as Ip noted in his column, some consumers don\u2019t understand the difference between disinflation \u2014 prices rising but at a lower level, for instance by rising only 3 percent instead of 10 percent \u2014 and deflation, where prices actually fall. While gas prices can fluctuate up and down based on market conditions, most other prices only go up. And telling people who remain irate about a 10 percent price increase last year that the same product will \u201conly\u201d rise by 3 percent this year will not only not comfort most families, it will quite likely enrage them.<\/p>\n<div class=\"fdrlst__b89e9-7e9b5bd0dd0651d4d659b91ab8034899 fdrlst__b89e9-paragraph-10\" id=\"fdrlst__b89e9-7e9b5bd0dd0651d4d659b91ab8034899\"><\/div>\n<p>Second, because people buy groceries and gas regularly, they generally see and know those prices far more than other less frequent items. In theory, I could save far more by getting a good price on a new car, furniture, or some other major purchase than I would spend on higher grocery costs in a given year. But I don\u2019t have a good sense of what those items cost. By contrast, I immediately noticed when Trader Joe\u2019s increased its price of bananas from 19 to 23 cents \u2014 and that price increase, the first on Trader Joe\u2019s bananas in over two decades, made <a href=\"https:\/\/www.msn.com\/en-us\/money\/companies\/trader-joe-s-just-increased-the-price-of-a-banana-for-the-first-time-in-more-than-20-years\/ar-BB1kw6kN\" target=\"_blank\" rel=\"noreferrer noopener\">national<\/a> <a href=\"https:\/\/www.msn.com\/en-us\/money\/companies\/trader-joe-s-upped-the-price-of-its-bananas-for-the-first-time-in-decades-here-s-why\/ar-BB1kE9gY\">news<\/a> as well.<\/p>\n<p>Finally, while unemployment has a concentrated blow, inflation\u2019s effects are much more diffused and widespread. Particularly on household staples like groceries and energy costs, inflation affects every family. By contrast, even in a period of relatively high unemployment, the majority of Americans still have jobs, and some families could still remain rather upbeat about their economic present and future.<\/p>\n<p>For all these reasons, it makes perfect sense why the American people, who have effectively <a href=\"https:\/\/thefederalist.com\/2023\/09\/19\/falling-household-income-numbers-show-how-bidenflation-has-hit-americans-wallets\/\" target=\"_blank\" rel=\"noreferrer noopener\">suffered a pay cut<\/a> due to the pernicious effects of inflation over the past few years, remain concerned about the economy. The better question is why Congress refuses to stop <a href=\"https:\/\/thefederalist.com\/2024\/02\/15\/congressional-report-washington-drowned-americans-in-a-sea-of-red-ink\/\" target=\"_blank\" rel=\"noreferrer noopener\">spending money it doesn\u2019t have<\/a> in ways that will cause inflation to persist, and the national debt to grow ever higher.<\/p>\n<div class=\"fdrlst__b89e9-eec006e0441c33f3322eab698cce4257 fdrlst__b89e9-after-post-content\" id=\"fdrlst__b89e9-eec006e0441c33f3322eab698cce4257\"><\/div>\n<hr class=\"wp-block-separator\">    \t\t\t\t\t   \t\t\t\t\t\t\t\t\t<\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Following March&#8217;s better-than-anticipated job creation, analysts wonder why Americans are still pessimistic about the economy. The latest inflation data surpassed expectations for the third consecutive month, offering a clear answer. With inflation persisting above<\/p>\n","protected":false},"author":521,"featured_media":2222916,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/04\/210811-F-KN521-1025-1024x698.jpeg","fifu_image_alt":"","footnotes":""},"categories":[546],"tags":[],"class_list":["post-2222915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-federalist"],"fifu_image_url":"https:\/\/thefederalist.com\/wp-content\/uploads\/2024\/04\/210811-F-KN521-1025-1024x698.jpeg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2222915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2222915"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2222915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2222916"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2222915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2222915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2222915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}