Why do people think the economy is good?

My friend who has a his college MASTERS DEGREE in economics answered my question which was. "Is the economy good/great right now?" He said its absolutely horrible and that the stats show up as good only because they're artificially inflated. I'm wondering why people continue to act like idiots and say the economy is good and getting better because as my buddy explained its actually awful and getting worse.

What do you think about it?

 

Good is relative you know. Are we poor like north korea? no. Are we doing as well as we could be doing? no.

 

Who is saying the economy is good? It's all doom and gloom where I'm from.

 

I think that it's not the best idea to compare the US and North Korea economies. We live in just a little bit different worlds.
Though
You know I've seen enough poor people in America to say that everything is not perfect with our economy.
Sorry I have never been in North Korea.
I think u 2

 

Because the economy is good and getting better. People who have to claim that the available statistics are faked have no actual leg to stand on.

 

Let me count the ways:

1. A lot of people are just plain STUPID.
2. A lot of people are on welfare or extended unemployment benefits. Their lives don't improve or get worse with changes in the economy.
3. A lot of people are just plain STUPID. (Oh, I said that already)
4. Some things in the economy have improved DESPITE THE EFFORTS OF Barak Usama and the Democrats. Economies evolve. The producers and achievers don't just lay down when some numbers all of a sudden look bad. People have gotten a huge break out of dropping gasoline prices which can ONLY be credited to conservative Republicans preventing Democrats from screwing it up.
5. The economy has been so bad for so long that a lot of people have gotten used to how bad it is. Not many remember the great Reagan years, when there were more high paying jobs than workers.
6. There are a lot of things that distract people from worrying about the economy. They have American Idol, video games, alcohol, drugs, and MSNBC. They aren't paying attention. Which brings us right back to
7. A LOT OF PEOPLE ARE JUST PLAIN STUPID.

 

The economy is in the same malaise it has been in since 2008. Have the stats improved? Some. Are the stats reflective of the actual economy on the streets? mixed bag, they can only account so much context. Is the economy doing well in some sectors but awful in others? Yes. In this economy the stock market is a contraindicator of street level economy. Large national chains are doing great because so much of many local economies have been utterly gutted, leaving even anemically more dollars chasing goods and services in less competitive markets and increasing national firm profitability.

 

I like your self-confidence, sir.
I think that you should be grateful not to Republicans (sorry if I hurt your feeling) but Saudi Arabia. I don't defend Democrats
You've forgotten to notice Rap music I think so

 

The economy is relative to location and always has been.

During the Great Depression, areas such as the Texas Gulf Coast and California actually had strong, expanding economies.

In the 1980s, much of the U.S. was prospering yet my own state was under lots of economic stress. Likewise West Texas during this period of declining oil prices went into a virtual depression. Michigan was in bad shape for much of a decade through the early 2000s when much of the rest of the U.S. was doing well.

 

I think the biggest boost to the economy is the drop in oil. Think about it; oil prices have about halved in the past 6 months. For most of the economy, that's fantastic news. I think the fundamentals are still bad but for right now, we are getting a reprieve.

 

Well, the economy sucks here in Brownbackistan.

 

Let me make it real simple sarge.

The way the man street sees it is like this:

Me and my neighbor our both working the economy is great.

My neighbor's out of work thinks are a bit tough.

My neighbor's out of work and there's layoff rumors at work the economy is bad

I'm out of work, my neighbor's out of work been that way for more than two months now. The economy economy is suffering the moral equivalent of all out thermonuclear war.

 

When no one is working on betterment and is instead absorbed with maintenance, because that is all that is marginally affordable and those doing that maintenance are those that used to improve things, its a bad economy.

 

Saudi Arabia had nothing to do with the FRACKING up in the Dakotas. THAT'S what caused gasoline prices to plummet. The Saudis today are just running scared, trying to maintain their market. American ingenuity once again shows the world where the brains are and how easy it is for Americans to just knock the competition on its ass.

 

Because good is relative and compared to where things have been they are "better" than they were just a few years ago for many. There are economic markers that have shown the economy getting better. Now, those markers are irrelevant to someone who is out of work and unable to find a job.

During the Bush years, the economy was said by many Republicans to be "good", however from my perspective and others it was bad.

Usually people look at "their" situation and judge whether something is good or bad. That of course is an incorrect method to look at things from a country perspective, but there you have it.

 

Compared to 6 years ago, yes indeed, the economy is doing great. Matter of fact, about this time 6 years ago when all the true patriots were buying gold and burying it under their double-wide I borrowed a Breaking Bad-like barrel of $ and bought stocks at the low. And thanks to the America-hating, capitalism-destroying Marxist Great Tyrant I have much more than doubled my money. On Natworld the economy, as far as I'm concerned, is boom boom booming.

 

Well, I agree with one thing - "good" is relative, at least to this world. It's just great somebody asks questions about things we take for sure. The beginning of all wisdom starts with "I do not know". The next step is to destroy everything that is certain, and then we're left with the things that are true.
Some people are "plain stupid"? Where did you get this information from?
I think that the economy is not perfect, because if it was, we'd live in utopia, just like North Korea, where people want everything to be perfect. The fact that someone is allowed to doubt about everything prior to the situation is a great priviledge, but I do not get the view of anyone who swears at the others giving no sollution. At least a naive sollution.
Look at China. They destroyed their ecosystem to have enough money to be considered as one of the greatest economies. What do they do with it? Nothing. When America was having its greatest boom after the WWII, they sucked every brain from every country, knowing they would work for America, or for the competition. What does China do? With all of its potential they just know they should do that, but do they actually do that?
Te economy of a prosperous country is ometimes the effect of a compromise and sometimes of a consensus giving the added vallue over opposite sides. But sometimes it is just full of holes, lacking simple understanding.
The situation with this question/doubt reminds me of a test I took in High School. That was a biology test. I was well prepared and my thing was to theoretically create an experiment. I wrote everything about it and more, but I did not get the best grade I thought I deserve. Just because I did not write that the experiment should be repeated many times to count the probability.
In this case take other countries. What is their economy like. Most of the times the western civilisation has the same philosophy for economy, but achieve different status. That is not because some do not know how to do some things. It is also not a matter of money most of the time. Quite frankly there are different problems where one problem seems to be the most important. People mainaining power are so much used to it, that they care only for their survival. That's why new people do not show up giving some fresh blood to the system. They're considered as dangerous and the old ones do everything to keep them from making changes.

 

i was gonna say ppl don't understand economics. not really.

 

"Why do people think the economy is good?"

good is relative, compared to the Bush economy it's good, compared to the Clinton economy it's good, the Clinton economy was GREAT

 

Besides the statistics for Obama are great. The problem is that Obama is like Stallone. The ones that are his fans, truelly love him. The ones that are not his fans, treat him as a worst nightmare..

 

great explanation. they don't care unless it effects them.

 

Or some one they know.

 

that tends to be what happens with republican congresses.

 

The dept of labor jobs numbers are lies. If you look up the IRS statistical tables under the number of wage and salary workers, the most we ever had was in 2007 at 120 million wage and salary workers. This number includes both full time and part time workers. We have almost 200 million people between the ages of 19-64 years old. Our economy cannot support population growth or even the population we currently have. Look how many people are on welfare, over 50 million?

Unless someone gets innovative and creates jobs that pay well and do not require college degrees, providing of course we have enough natural resources to make that possible, the economy cannot improve.

 

Bullsheeite. The Bush economy (before the Nazi Pelosi years) was better than this economy OR the Newt Gingrich 90s economy that Clinton had nothing whatsoever to do with. The Bush tax cuts created MORE high paying private sector jobs than ANY Democrat president in history.