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My understanding is: * Perception of the economy depends tremendously on whether the president is of your preferred party. Whenever the presidency changes han
by 0xDEAFBEAD 2y ago
My understanding is:
* Perception of the economy depends tremendously on whether the president is of your preferred party. Whenever the presidency changes hands, you see a massive and rapid flip in which party supporters are satisfied with the state of the economy.
* If you ask Americans about how they are doing personally, as opposed to how they believe the economy is doing, their response is much rosier.
See also: "vibecession"
- immibis 2y agoAFAIK the former effect has been found to be much stronger among Republicans, though it exists in both parties. It was something like a 50% swing in approval rating versus 10%.
- throwaway2037 2y agoI never saw the term vibecession before. Wiki has a separate page for it! I wonder if this trend also appears in other highly advanced economies. Example: When UK switched from conservative to labour, was there a similar sentiment swing? My guess: Yes. Netherlands also moved much more right in the last election after PM Mark Rutte stepped down after 8 years. However, broadly, the NL economy is doing much better than UK economy. Maybe the vibecession effect is stronger when the economy is weak? Could be.