Americans are glum. Most surveys and polls suggest that collectively we are not happy with our financial situation or what lawmakers are doing about it.
This caveat aside, in judging the state of the broader economy and our own private economies, it is clear we aren’t feeling that great., which took off almost three years ago. First, because of the pandemic, there were severe disruptions to global supply chains and the job market. Then came Russia’s invasion of Ukraine and the resulting surge in
Of course, prices are up a lot for most everything, including other staples such as food and rent. That’s tough to bear, since household incomes are up by only about one-third of that amount.If my diagnosis of what ails us is roughly correct, we should soon begin to feel a bit better about things. Inflation is slowing down as the economic fallout from the pandemic and Russian war fade, and gasoline prices are back down to $3.50 per gallon.
Source: Financial Digest (financialdigest.net)
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