{"id":15296,"date":"2024-11-08T14:58:21","date_gmt":"2024-11-08T14:58:21","guid":{"rendered":"https:\/\/lonecandle.com\/?p=15296"},"modified":"2024-11-08T14:58:21","modified_gmt":"2024-11-08T14:58:21","slug":"why-democrats-couldnt-sell-a-strong-economy-in-3-charts","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=15296","title":{"rendered":"Why Democrats couldn\u2019t sell a strong economy, in 3 charts"},"content":{"rendered":"\n

“Wage growth has caught up with inflation<\/a> on average. But wage gains haven\u2019t been uniform: The lowest-paid workers saw some of the biggest gains, particularly in the leisure and hospitality sectors, but other industries, from advertising to chemical manufacturing, saw their wages decline relative to inflation.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“Even if workers received raises that outpaced inflation, that doesn\u2019t help with sticker shock. Research has shown that consumers have an internalized \u201creference price\u201d<\/a> \u2014 a conception of what constitutes a fair price for a good they routinely purchase. If that imagined price doesn\u2019t match up with reality, consumers feel short-changed.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“Consumers also often misunderstand how inflation works<\/a>. The important thing to know is that it only goes one way: When inflation decreases, that just means that prices are increasing less quickly, not that they are going down. (That can happen, though rarely.)<\/p>\n\n\n\n

Prices going down, a phenomenon known as deflation, would be a potentially worrying signal about the health of the economy. If consumers pay less for a good, that can translate to less money to pay the workers who produce and distribute it, leading to less consumer spending overall and slower economic growth.” <\/p>\n\n\n\n

…<\/p>\n\n\n\n

“people are staying unemployed for longer<\/a>: 1.6 million Americans were unemployed for a period of at least 27 weeks in October, compared to just 1.3 million the same month last year.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“After a brief spike in savings rates during the pandemic due to a series of stimulus checks, Americans are now saving less<\/a> than they were pre-pandemic. This creates a cycle where Americans have less money, so they borrow more. Because interest rates have been high, borrowing has become more expensive, leaving them with even less money.”<\/p>\n\n\n\n

https:\/\/www.vox.com\/2024-elections\/383397\/economy-inflation-2024-election-democrats-trump<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

“Wage growth has caught up with inflation on average. But wage gains haven\u2019t been uniform: The lowest-paid workers saw some of the biggest gains, particularly in the leisure and hospitality sectors, but other industries, from advertising to chemical manufacturing, saw their wages decline relative to inflation.”<\/p>\n

…<\/p>\n

“Even if workers received raises that outpaced inflation, that doesn\u2019t help with sticker shock. Research has shown that consumers have an internalized \u201creference price\u201d \u2014 a conception of what constitutes a fair price for a good they routinely purchase. If that imagined price doesn\u2019t match up with reality, consumers feel short-changed.”<\/p>\n

…<\/p>\n

“Consumers also often misunderstand how inflation works. The important thing to know is that it only goes one way: When inflation decreases, that just means that prices are increasing less quickly, not that they are going down. (That can happen, though rarely.)
\nPrices going down, a phenomenon known as deflation, would be a potentially worrying signal about the health of the economy. If consumers pay less for a good, that can translate to less money to pay the workers who produce and distribute it, leading to less consumer spending overall and slower economic growth.” <\/p>\n

…<\/p>\n

“people are staying unemployed for longer: 1.6 million Americans were unemployed for a period of at least 27 weeks in October, compared to just 1.3 million the same month last year.”<\/p>\n

…<\/p>\n

“After a brief spike in savings rates during the pandemic due to a series of stimulus checks, Americans are now saving less than they were pre-pandemic. This creates a cycle where Americans have less money, so they borrow more. Because interest rates have been high, borrowing has become more expensive, leaving them with even less money.”<\/p>\n

https:\/\/www.vox.com\/2024-elections\/383397\/economy-inflation-2024-election-democrats-trump<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[13],"tags":[585,988,1262,217,165,372,386],"class_list":["post-15296","post","type-post","status-publish","format-standard","hentry","category-article-share","tag-campaign","tag-democratic-party","tag-democrats","tag-economics","tag-economy","tag-election","tag-voters"],"_links":{"self":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15296","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15296"}],"version-history":[{"count":1,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15296\/revisions"}],"predecessor-version":[{"id":15297,"href":"https:\/\/lonecandle.com\/index.php?rest_route=\/wp\/v2\/posts\/15296\/revisions\/15297"}],"wp:attachment":[{"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15296"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15296"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lonecandle.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15296"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}