The US is the greatest economy in the world and under Joe Biden's leadership it has risen out of the ashes of Covid much more successfully than peer nations and it isnt even close. Canada is number 2 and owes part of its performance on its proximity to the US.
So why all the griping? Here is why: The disassociation of economic performance and economic satisfaction in the US is entirely driven media reporting bias. See the study below the chart.
Why are we so great?
In the analysis below, we offer a complementary explanation related to perception: that the tenor of economic news has become systemically more negative over time. Our analysis suggests that over the past six years, tone has shifted more negative, with an increase in the magnitude of negative tone over the past three years.
Link to the graph above here
So why all the griping? Here is why: The disassociation of economic performance and economic satisfaction in the US is entirely driven media reporting bias. See the study below the chart.
Why are we so great?
- Fast and courageous actions of the US government exiting Covid
- Flexible Labor - Productivity spike and quick shifting labor to new demand and away from old
- Energy Independence - We are influenced by world energy markets but our output gives us power
- Competition - More competitive markets didn’t stop price increases from going to the customer but they slowed it down compared to peers.
In the analysis below, we offer a complementary explanation related to perception: that the tenor of economic news has become systemically more negative over time. Our analysis suggests that over the past six years, tone has shifted more negative, with an increase in the magnitude of negative tone over the past three years.
Why are Americans so displeased with the economy?
www.brookings.edu
Link to the graph above here