US economy is booming, but people are not seeing it.

[Juggy777]

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

[1715071070]

1715071070

[1715071070]

1715071070

[cabron]

The government wouldnt be printing trillions of dollars to stimulate the booming economy if its true. There were even many riots going on and public shooting, this is a depiction growing frustration of the people while they already felt like Trump was bit better than Biden.

Economy is not booming anywhere in the world. There is inflation rising so fast thag even citizens receive stimulus package they still cant feel it because the food prices are soaring high.

[franky1]

government printed trillions. and it now sitting in the billionaires offshore accounts and derivatives.

on paper the GDP has grown by trillions in 1 year.
but to the lower/middleclass and most of the upperclass. they have not seen a single change.

faking the GDP by printing trillions and handing out to the big player has not grown the economy. it has instead faked the GDP to make it appear USA is still ahead of china..

but if you look at the number of loaves of bread each citizen can buy now compared to 2019. the % change has not seen the same growth.

china however have seen a good uptick in the bread loaf purchasing power of its citizens

[Silberman]

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

I really do not know where you get the idea that the economy is booming, this is not true, maybe we are experimenting some growth but that is just because the economy fell so hard in 2020 because of the pandemic, we need to be very clear it is going to take years if not a decade before the economy recovers from what happened and there is no guarantee that this is going to happen at all because the US government is still printing money which is causing inflation and that will affect their population over the long term

[ChrisPop]

We're not even officially out of the pandemic and you think the US economy is booming? I wouldn't refer to a growth in stock prices as a "booming" economy. GDP growth is what you want to look at to gauge the health of an economy. GDP growth in US was -3.5% in 2020.

We can expect a solid positive growth in 2021 if we manage to get out of the pandemic. But take into account that according to some metrics the stock market is heavily overbought.

[BrewMaster]

maybe people aren't seeing the economy booming because there is nothing to see.
it makes sense too because i can't think of any world where the government prints such a huge amount of money that it sets a record compared to that country's entire history and then see the economy boom!
and that's just the tip of the iceberg. we had a lot of jobs lost and everyone's financial situation get worse with the pandemic that is still ongoing.

[tyz]

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

I recently read a report on MarketWatch. During Trump's administration, the stock market has increased by $9.96 trillion over those four years. Since the election of Biden (just over half a year ago), the stock market has increased by approx 8 trillion dollars. I mean the increase in value during Trump's time was already exaggerated, but the increase in value since Biden's election is just extreme. This is not reflective of the real economy and hence why there are different views on the state of the economy. Those who own stocks believe the economy is booming. Those who don't own stocks really see that the economy is not booming.

[Karartma1]

What about a possible housing bubble bursting soon? I read very contradicting articles on the matter as the discussion is overly polarized from those who see a crash happening soon and others who are saying that it ain't no bubble and prices can only go higher at this stage.
When the money printer goes brrrrrrrrrrrrr you can't know what to expect.

[grabpopcorn536]

No one has seen a boom in the US economy but those who manipulate it.
I find that after each recession everything goes up in price and there are more poor people than before.
The epidemic is still going on and unemployment is still growing around the world.
Don't talk about stock-exchange indices as they are the result of massive government money printing.

[0t3p0t]

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

Source:

https://edition.cnn.com/2021/05/03/economy/jobs-economy-covid-biden/index.html

People are missing seeing this boom in the economy because of the mainstream media that does not really interested in showing all this. It happens in almost countries around the world where people are deceived and poisoned by this black propaganda that is why things are complicated.

[Fesatmas]

is it about the distribution of dollars ith on a larger scale. I feel America will continue to do so regardless of the impact of inflation. because they themselves create the worldwide manipulation of dollar prices. and what I noticed at this time, when America has started to say an increase in its economy. China has already tried to be at the forefront of digital Yuan.
America continues to use conventional systems which are clearly not comparable to the current state of the industry.

[bryant.coleman]

Let's not forget the fact that Joe Biden has decided to spend an additional $6 trillion on his "American Families Plan". And despite this huge spending, I am unable to notice any upswing in the economy. And worse, once the crazy plan to make capital gains tax on par with the income tax is implemented, we can expect a crash in the stock markets and unemployment further increasing. The US federal debt currently stand at $28.25 trillion, and may further increase to $40 trillion by the end of Biden's term in 2024.

[dothebeats]

It's because most of the trillions printed in the past few months went only to a select few uber rich guys while the rest of the population, after spending their money, felt left out. The economy is not going any better for the middle class and for those even lower than the middle class. It's only for those whose businesses are well-established that even in the midst of the pandemic, they would still post good gains while the rest of the population are left to look for scraps. Inflation is still looming and rising, yet the stocks are getting overvalued and highly inflated as the clock ticks. Life is getting better, for the rich yes, but not for the rest of the population.

[jaberwock]

US economy is finally booming and it is a big relief for all of us, but in a worrying sign people are yet not seeing that boom, and this makes me wonder what happens if the general masses can’t feel the boom, will the US economy once again slip downwards?.

Furthermore what do you’ll feel is the key reason why people are missing seeing this boom in the economy, and I have read several reasons in the media but if someone has some personal perspective then please do share it.

This has been always like this way? I mean what do you get in a nation with so much capitalist roots that bribing a politician is cheaper than paying the fine? There are so many companies that does things that would be illegal in many other nations of the world just because they are paying for bribes? This nation spends 750+ billion dollars on military and not even at a war, can you really blame the situation in anyone else than the voters? It is the voters that keep voting for politicians that gets bribes from companies and build the nation to help the needs of the corporations while not caring about the population.

This is true for republicans and it is true for democrats, it is true for all. As long as this system continues to be the case there, we are not going to end up seeing anything else, it will be all the same things forever until voters finally realize what they are doing.

[sunsilk]

There are still a lot of jobs lost and the pandemic is still around. Basically, even if the economy is booming, people won't be feeling it due those reasons and that are just some of the many reasons why the boom can't be felt.

A normal citizen or average person won't feel that boom especially those who are living paycheck to paycheck. But for those that have been following and relying to the country's economy, they'll feel it through their ventures and investments growing up.

[just_Alice]

The pandemic is still ongoing, we don't even need to think of the reasons why people can't feel the "blooming", because it is obvious that there's no way the economy could have grown in such a short period of time, while people were losing their jobs the year round and many businesses (especially small businesses) were flushed down the toilet.

Also, I thought by now everybody knew that judging the living standard by GDP is inaccurate, it has been criticized by a number of economists and financial specialists. Here's one example, in this article Sarah Arnold, the NEF economist stated:

GDP includes activities that are detrimental to our economy and society in the long term, such as deforestation, strip mining, overfishing and so on,” Arnold said. Wars and natural disasters, too, can be a boon to GDP as a result of the associated increase in spending.

So the growth in GDP may very likely be associated with the pandemic-related expenses, which are tremendous.

There was also an important note from The World Bank:

It (GDP) does not reflect depreciation and depletion of assets, whether investment and accumulation of wealth are keeping pace with population growth, or whether the mix of assets is consistent with a country’s development goals.

This means that some may have benefited for the past year, indeed, but I can assure you that it wasn't the lower to middle classes.

[Sithara007]

There are still a lot of jobs lost and the pandemic is still around. Basically, even if the economy is booming, people won't be feeling it due those reasons and that are just some of the many reasons why the boom can't be felt.

A normal citizen or average person won't feel that boom especially those who are living paycheck to paycheck. But for those that have been following and relying to the country's economy, they'll feel it through their ventures and investments growing up.

Unemployment rate is still at a level which is higher than what they had prior to the pandemic. And relying on welfare payments is not a good idea, because they are not going to last forever. The situation is worse for the poor and the lower middle class, when compared to the rich. The rich have invested primarily in the stock market and bonds and they are still getting good returns from these investments. That is not the case with the poor people.

[zanezane]

If the people don't see the growth then it isn't a beneficial growth after all because the growth didn't benefit  the people that should benefiting from that growth. Maybe the industry of war and weapons manufacturing is the one that is booming.

[Kong Hey Pakboy]

If the people don't see the growth then it isn't a beneficial growth after all because the growth didn't benefit  the people that should benefiting from that growth. Maybe the industry of war and weapons manufacturing is the one that is booming.

I agree, with people not enjoying the benefits of an increased GDP then what's the point of growing, if US do have a booming economy, why can't they lower the price or make healthcare free or forgive student loans?

[bryant.coleman]

I agree, with people not enjoying the benefits of an increased GDP then what's the point of growing, if US do have a booming economy, why can't they lower the price or make healthcare free or forgive student loans?

Healthcare and education have been two sectors that are in bad state within the United States for many decades now. Because of the monopoly of the insurance industry, medical procedures in the US are 5 times or 10 times more costly when compared to the neighboring countries. On top of that, there are strict regulations covering the prescription medicines. And this means that the same drug which costs $10 per packet in Canada costs around $250 per packet in the US. No one wants to change the status quo, since powerful players (i.e donors to both the Democratic party and the GOP) are benefiting out of it.