Comments by "Marcus W" (@Mawyou) on "Why Many Americans Still Feel Bad About The Economy Despite Strong Data" video.

The data wasn't manipulated. It's just the main things going up in price are things that you buy every day. So it's more noticeable. The prices of things like TV's are not seeing the same increase in prices. Also, people are expecting prices to go down when inflation goes down. But that's not how inflation works. Also, people don't realize that the massive wage increases they've been getting the past few years aren't for their "excellent performance" as emplpyees. It's a cost of living increase that gets them caught up with inflation. People notice the price increases and get angry, but don't seem to comprehend or care that their wages have mostly kept pace (or even surpassed inflation in the case of lower wage workers).
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Economic indicators do mean something. Most people's salaries have gone up quite substantially in the past few years. Most people are frustrated with the higher prices, but most people are not struggling. If most people were so short on money, companies wouldn't be able to keep raising their prices and bringing in record profits.
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@peterdangelo5882 Like they said in the video, the goal is not to make prices go back down. That wouldn't make any sense given that most people's wages have already gone up with the prices. The goal is to keep prices steady where they are now, so that people feel a sense of stability.
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@cmh19xx People praise capitalism, but then they want someone to blame when capitalism works the way its supposed to work.
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What does it mean to say the economy is horrible when most people are doing fine regardless of the higher prices? When these same surveys ask people about their own personal financial situation, most of them say they are doing pretty well. But at the same time, they believe everyone else is suffering.
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@8MunchenBayern8 Job openings may have fallen to a 4 year low. But unemplpyment is also at a 40 year low. Leaving that information out is intentionally misleading. Like they said in the video, politics determines people's views of the economy more than the actual state of the economy.
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@Eye-Byte But mainly just tech because they over-hired during the pandemic.
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@Eye-Byte Like I said, that is simploy incorrect. The information you cited is 2 years out of date. Here in 2024 cululative inflation is 20%. And cumulative wage growth is even higher than that. Why are you citing information that is 2 years out of date?
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@brentmorrison3392 No one is changing anything. They use the same few measures they always have. The important part is to understand the difference and why they have the different measures.
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@brentmorrison3392 It's proportional to typical purchase frequency and price. It's about the price of a typical basket of goods. Yes, it changes every year, as it should.
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@brentmorrison3392 Why bother using information at all then. Nobody is equal to the average.
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@eggnogaddict6287 Those numbers are a little outdated.
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@eggnogaddict6287 Real wages are now higher than they were before the pandemic.
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@eggnogaddict6287 It's not 2022. We are in 2024.
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@eggnogaddict6287 2022 is not the most recent data we have. St. Louis Fed has all of that data going until the current day.
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@eggnogaddict6287 We have data going all the up until today. St Louis Fed's website.
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@eggnogaddict6287 The most recent data from the Fed is March of 2024.
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@eggnogaddict6287 On the Fed's website.
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@eggnogaddict6287 Of course. It's on the Federal Reserve's website under the heading real wages.
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@eggnogaddict6287 Of course. It's on the Fed's website. They've got a whole section covering real wages over time.
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@eggnogaddict6287 Yeah. It's on the Fed's site. Under real wages.
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@eggnogaddict6287 The same place you got your economic information. The Fed.
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@iguanamoat You're making a lot of assumptions based on gut feeling. Entire paragraphs of assumptions. Companies will raise their prices as long as we the consumer are willing to pay. That's capitalism.
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@eggnogaddict6287 The don't swap steaks for hamburgers. However, they may swap brand name steak for store brand steak, following actual consumer behavior.
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@eggnogaddict6287 What hotel charges $25 for wi-fi?
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@eggnogaddict6287 I travel quite a bit. Of the 10+ hotels I've stayed at in the past few years, I have never paid an extra fee to use the wi-fi, fitness center, or pool. I've never seen it. And I would refues to stay at a hotel that disrepectful to customers. The only time I've ever even heard of a fee for wi-fi at a living space was on a cruise, and I decided to go without it and just enjoy my trip. Where are these hotels that are charging extra for basic amenities?
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@mikezerker6925 The point is that most people are not broke. They are just frustrated from paying higher prices. But most people are also making a lot more than they did several years ago. Most people probably thought it was because of their good performance or their company just being "nice" to them. In reality, it was a market adjustment their companies maintain competitive pay to make up for inflation.
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@Eye-Byte Wages have been growing faster than inflation since the end of 2022. It's just a fact.
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@Eye-Byte Are we going by youtube comments or data to judge the state of the economy 🤔? The data you provided is incorrect.
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@RandomRabbit007 Because the economy consists of vastly more than just groceries and gas. And people's wages have been going up, but they are still frustrated about having to pay more. Meanwhile, these companies are hitting record profit quarter after quarter, year after year. Inflation still exists because consumers will just continue paying the higher prices and blame Biden for the conduct of the corporations using "inflation" to rip them off. It's a self-perpetuating cycle.
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