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

[paxmao]

What do you mean by booming and what do you mean by not seeing it? Should I remind you that most indexes are up more than 40% from their bottom in march 2020? People are well aware that while the COVID took a toll in lives and killed companies that were already zombified, it also advanced 10 years into the digital economy and remote working. Most companies that supply these services have made and incredible profit, including Facebook, Microsoft, Apple, Goolge... not to mention specific meeting technologies such as Zoom.

Of course there is a boom.

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[LUCKMCFLY]

There is another thing that is currently happening that has a bearing on the economy of both Bitcoin and the traditional economy, it is that the banks do not want to be left behind, they are already making arrangements in the US for some retailers to acquire Bitcoin through the banks, supposedly According to the article that I am going to review, many people prefer to buy Bitcoin or Crypto in a bank that registers and buy in Exchanges like Coinbase, now some banks will be able to allow to trade Bitcoin because there was a Stone Ridge association, NYDIG, with the headquarters in Jacksonville Fidelity National Information Services (FIS).

What we're doing is making it simple for everyday Americans and corporations to be able to buy bitcoin through their existing bank relationships.

Source: https://u.today/hundreds-of-us-banks-to-allow-holding-and-trading-bitcoin

While this is a positive thing, those who want to get into Bitcoin trading from a bank (which I do not share, I like to be anonymous) this can bring more demand to the market, this can help the price of Bitcoin continue to rise.

[uneng]

To use a CNN site's link to show US economy is booming is the same than using a link from the Democrat party to do so. And this media is so manipulative that as they can't see practical evidences the economy is booming, they claim it's happening, but people can't see it, yet. What a joke!
And why does CNN say the economy is booming?

Armed with stimulus checks and tax credits, Americans are spending aggressively.

Incentivizing people going into debt and spending without limits is good news for the establishment and a signal the economy is skyrocketing. Good for the banks and oligarchies, of course.

[tygeade]

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.

I don’t live in the US, so can’t really tell you if the economy is booming or not, but from what I have heard from people I know personally that lives there , and also from the comments I have seen in this post, it seems like it’s not booming like you have said, unless they are just part of the people you said cannot see the economy booming.

The coronavirus really affected the world badly, and this is something I wouldn’t wish to happen again. In my country, ever since the virus and the lockdowns and everything, things went from bad to worse, people are hungry, and the rate of crime increased, and also foodstuffs prices are high in the market. It hasn’t been easy, and people are blaming the government.

[Febo]

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.

I think USA is doing quite fine. There are places on Earth that people are doing way way way worse. Americans seems to love vaccines and will vaccine 70% of citizens. Many countries will not achieve that because their tradition is not to trust vaccines.

[Vishnu.Reang]

I think USA is doing quite fine. There are places on Earth that people are doing way way way worse. Americans seems to love vaccines and will vaccine 70% of citizens. Many countries will not achieve that because their tradition is not to trust vaccines.

Seriously? The Americans have hoarded all the vaccines that are available (including some that they are never going to use) and now the excuse being given is that in other countries the people don't trust vaccines? Vaccination rates are low in other countries, because the vaccines are not available. As simple as that. Being an Indian, I am trying hard to get myself vaccinated for the last 3 months. Unfortunately no slots are available, because the vaccines are in short supply.

[darewaller]

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.

In order for people to realize this, first we have to look at the sentence "US economy is booming", I mean is it really? If people are not seeing it, who does? There are few elites that make a ton of money and the stock prices increase because of that and you think that constitutes as US economy booming? Just because stock prices are higher doesn't mean that economy is booming, it just means that some companies are making profit that’s it.

[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.

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.

Yes, those aides won't last forever and the government can't keep up with such help unless they will have a continuous plan of injecting and printing money again and again. But the long term effect of it on the economy will be not good as what the help they give.

I agree that even middle-class families have also struggled with this pandemic. The boom is noticeable but only for those top corporations and their conglomerates.

[wiss19]

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.

In order for people to realize this, first we have to look at the sentence "US economy is booming", I mean is it really? If people are not seeing it, who does? There are few elites that make a ton of money and the stock prices increase because of that and you think that constitutes as US economy booming? Just because stock prices are higher doesn't mean that economy is booming, it just means that some companies are making profit that’s it.

Yeah, this is why people think the most wrong ways possible and that is the problem here. They see that stocks in general are up 10% and they think economy is doing great because of that but the reality is that people around the corner to them are failing to pay their rent, how can that be alright? I mean if it was one or two or three or thousands I would still understand, but we are talking about tens of millions of people in poverty, nearly 41 million people are in poverty, and that is just USA.

[magneto]

There is a difference between the stock market and the real economy.

The stock market going up has no direct impact on actual consumer welfare, which is a misconception that politicians seem to always exploit.

Threats of reflation are also very real, and people seem to be completely neglecting that. They think that they are nominally richer because of all the stimulus that has been pumped into the system, whilst neglecting the fact that all the QE will essentially dilute their purchasing power.

The fiat economy is a mess - it's no wonder people are flocking to cryptos.

[arallmuus]

Seriously? The Americans have hoarded all the vaccines that are available (including some that they are never going to use) and now the excuse being given is that in other countries the people don't trust vaccines? Vaccination rates are low in other countries, because the vaccines are not available. As simple as that.

Its the jungle law of this world, the strong takes everything. In this context that means the country with the higher economy gets to take everything alot more then some other country.

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.

Thats also one of the reason why we are in bull market right now. Due to all of these actions as well as the unemployment rate, the US treasury bond interest rate has been quite low for some time. Some hedge fund took 1-10% of all those money they managed and put it into crypto market which increase the overall crypto marketcap. If it wasnt for this then we wouldnt be in this bull season right now

[sheenshane]

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?.

It might the reason behind that besides people always wanting more and being ungrateful is that not all people benefit from a booming economy.  That’s very impossible. 

But actually, I don’t really see the US having a booming economy.  Economically wise, my presumption is US’s gap is going downwards.
Fiats are being printed almost every day for band-aid solutions for this pandemic and loans have been executed in the world banks and lastly, 70% of the workforce couldn’t move properly yet because of the pandemic.  Not all of the businesses and industries could be done remotely.

Economists once said that it would take 10-15 years for the U.S to recover from the loss they had during the pandemic, slowly but surely.

Just my two cents.

[Koro-Sensei]

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

It's not a secret that U.S. is trying to get up faster than any country when it comes to economic aspect. They should be specially that China (as their biggest rival) is now at the top while others are deeply drought. They should do what others cant do or else China's bullishness will never be matched by them again.

[Febo]

Vaccination rates are low in other countries, because the vaccines are not available. As simple as that. Being an Indian, I am trying hard to get myself vaccinated for the last 3 months. Unfortunately no slots are available, because the vaccines are in short supply.

Yes, vaccines are in short supply in most of countries right now but sooner or later that will end. And when it will end, countries where people will vaccine will have 70% population vaccinated (since kids can not be vaccinated that mean that there has to be 85%+ adults vaccinated to reach 70%). Others countries with have 50% or 40% people vaccinated. And that will be to little to prevent further spreading of covid. Those countries will suffer most on long term.

[suryogandul]

why haven't people seen the US economic boom? because many people are still in a situation of the Covid 19 pandemic where the world economy is experiencing a decline. I think people are not too focused on paying attention to the economic condition of a country, they are focused on fighting Covid 19 and thinking about health. so maybe a boom in the US economy will be seen when covid 19 ends

[Hydrogen]

Can the US economy be "booming" with COVID restrictions remaining in place?

Pfizer's profit margins are booming thanks to COVID-19 vaccine revenues.

Pfizer posts $4.9 billion profit in the first quarter as vaccine strategy pays off

https://www.bostonglobe.com/2021/05/04/business/pfizer-posts-49-billion-profit-first-quarter-vaccine-strategy-pays-off/

Aside from those benefiting from the pandemic, which segments of the US economy are "booming" atm?

Gas prices are high. Thousands of jobs were lost. Many businesses went bankrupt. All thanks to lockdowns. The only things doing well were gamestop, dogecoin and for some bizarre reason the US stock market continues to trend higher. When every basic indicator suggests the opposite should have occurred over the past 6 months.

[Sithara007]

Yes, vaccines are in short supply in most of countries right now but sooner or later that will end. And when it will end, countries where people will vaccine will have 70% population vaccinated (since kids can not be vaccinated that mean that there has to be 85%+ adults vaccinated to reach 70%). Others countries with have 50% or 40% people vaccinated. And that will be to little to prevent further spreading of covid. Those countries will suffer most on long term.

The US has currently approved vaccinating those in the 12 to 18 age group, so the coverage can be over 70%. And for those below 12 years, trials are ongoing and I guess these groups also will be allowed for vaccination soon. But the main issue here is the availability of vaccines. Pfizer and Moderna are making billions of USD in profits, while people are dying in poor countries. Only very recently, the American regime reacted positively to the suggestion of waiving IP for the COVID 19 vaccines. But I don't know when that is going to happen, as the pharma giants are opposing this move.

[LUCKMCFLY]

I think that the most influencers in the world of the economy are taking advantage of the best time to take advantage, this is the case of Ivanka Trump, the Arte Surfside luxury apartment in Miami, will begin to accept Crypto as a form of payment priced at $ 38 million, where the cheapest condo starts at $ 10.3 million, apparently people when they start to see this type of business and can be paid with Crypto will attract new demand to the market, or at least everything is on the right track.

The region’s "most exclusive" condominium is already home to Ivanka Trump and Jared Kushner, as well as fashion blogger Arielle Charnas from Something Navy. It’s now attempting to appeal towards crypto millionaires and billionaires attracted by Miami's Bitcoin-friendly reputation.

Source: https://cointelegraph.com/news/ivanka-trump-s-luxury-miami-apartment-block-accepting-crypto-for-condos

[Lorence.xD]

why haven't people seen the US economic boom? because many people are still in a situation of the Covid 19 pandemic where the world economy is experiencing a decline. I think people are not too focused on paying attention to the economic condition of a country, they are focused on fighting Covid 19 and thinking about health. so maybe a boom in the US economy will be seen when covid 19 ends

It's only booming for the industry that was active during the pandemic so the people don't see the effects of a booming economy. The problem is that US government doesn't have programs that are targeting the individuals that are effective and efficient so I think that this kind of boom isn't beneficial besides the people that are in the upper echelons.

[doomistake]

US economy is booming? Think again and do your research. US has been printing excessive money to sustain its economy. The uncontrolled number of covid-19 cases each day was still reported. Let's say, the economy is really growing by now, however, because of the difficult circumstances that people are facing, they won't be able to feel the economy is spiking.

Personally, as an average citizen myself, I seldom feel the "growth" of the economy of our country. Simply because it wasn't reflected in the community, prices of goods and services, salary given, and even in healthcare services. Normally, the upper class feels most of the positive effects of economic growth. The working class can hardly tell the difference between the usual and booming of the economy. On the other hand, it's the working class that is very much affected when the economy of a country starts to decline.