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I'm astounded that our media was able to convince you (and a huge proportion of Americans!) that our booming economy is actually bad. I'm curious to know why yo

• seibelj 5y ago
  If the economy grows 2%, wages grow 2%, but inflation is 5%, this means people are losing money in real terms. This is stagflation.
  • ZoomerCretin 5y ago
    The economy is expected to grow 5.1% this year, not 2%. Wage growth is rising at an annualized rate of 4.3%, not 2%. Inflation is heavily concentrated in a just a few industries (Automobiles, travel, home renovation). People don't buy cars every year. People don't renovate their home every year. Travel isn't exactly a plurality expense. Yes, the economy is booming, and wages are rising. Your purchasing power isn't lower unless you HAVE to buy some of the goods and services growing faster than your wages, which given the categories of items experiencing above-average price increases, is a huge proportion of the population.