Why wasn't the "vibecession" a thing when Trump was POTUS? (user search)
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  Why wasn't the "vibecession" a thing when Trump was POTUS? (search mode)
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Author Topic: Why wasn't the "vibecession" a thing when Trump was POTUS?  (Read 1023 times)
Mr. Ukucasha
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« on: March 16, 2024, 04:17:44 PM »

Although the stock market is booming and people are rating their personal financial situation as better than ever, most people believe that the economy at-large is doing badly and blame Biden for this. A similar "vibecession" (although not nearly to the same extent) occurred during the latter years of the Obama administration, when the economy greatly improved but the vibes did not. However, when Trump was POTUS, people widely believed it was the best economy ever despite the economy merely maintaining its growth rate during the latter Obama years. Is it because Trump is a Republican? Is it because people subconsciously perceive the right as good at more "masculine" issues such as the economy and defense, while the left is good at more "feminine" issues such as education and the environment?
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Mr. Ukucasha
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Posts: 425
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« Reply #1 on: March 16, 2024, 08:08:57 PM »

The left very much tried to manifest a Trump recession.  Remember Alexandria “unemployment is so low because everyone is working two jobs” Ocasio-Cortez?



I'm talking about the electorate at-large, not politicians. During the Trump-era, people largely rated both their personal financial situations and the economy at-large very positively, but during the Biden-era, despite people still largely rating their personal financial situations positively, they perceive the economy at large as performing poorly despite being objectively stronger than it was during the Trump-era.
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Mr. Ukucasha
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Posts: 425
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« Reply #2 on: March 16, 2024, 08:22:38 PM »

It’s because in 2015-16 there was a recession when it came to the manufacturing industry so the latter Obama economy depended on which sector you worked in . Today the answer can’t be more obvious and that is the economy is clearly not as good as it was in 2019:

- Tech Industry is in way worse shape and not hiring anywhere close to as they used to .

- You had a massive amount of retirements during Covid so unemployment numbers are more skewed due to that

- cost of living crises is way way worse than it was in 2019 .


Even if the rate of inflation is lower than it was in 2021 and 2022, basic things like housing and food are still considerably more expensive than they were in 2019.

It says a lot about the user base of this site that a popular answer to this question is to blame freedom of the press. Anyone who spends a few minutes reflecting on what it was like to manage a household budget in 2019 compared to today knows the answer to this question.
Even if the rate of inflation is lower than it was in 2021 and 2022, basic things like housing and food are still considerably more expensive than they were in 2019.

In 2019, US food inflation ranged from 1.6% to 2.1%, and as of February 2024, it is at 2.2%.
Yes, food prices are marginally higher than they were in 2019, but not nearly enough to justify such a huge difference in the public's perception of the economy at-large, especially since wages, employment rates, and stock prices have all increased significantly more than food prices.

And housing inflation has actually decreased since 2019 (2019: 2.89%, 2024: 2.75%).

Yes, inflation overall is slightly higher than in 2019, but wages, employment rates, stock prices, and just about everything else are significantly higher.
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