Americans feel good about the economy

[GMDino]

https://www.washingtonpost.com/news/monkey-cage/wp/2016/04/29/the-most-under-appreciated-fact-of-the-election-americans-feel-good-about-the-economy/

Quote:In an election season about voter anger, one important thing is underappreciated: voter optimism. And in particular, optimism about the economy.


“Wait, what?” you may be thinking. Isn’t the election defined by the country’s “economic blues“? Isn’t the election being shaped by “anger over a ‘failed economy’ “?


This is not the full story. Or even a very correct story.
Yes, it is true that the economic recovery since the Great Recession has proceeded in fits and starts. And, yes, current economic indicators are somewhat mixed. But voters feel favorable about the economy nevertheless. Here’s some evidence.


The longest-running measure of American attitudes about the economy is the Index of Consumer Sentiment. Below I’ve graphed trends in that index since 1960.

Before I had looked at these data, I was sure I’d find that sentiment was only a bit more positive than it was when Obama took office. But in fact, the upward trend — with the exception of the drop during the 2011 debt ceiling crisis — is striking. This upward trend is also reflected in data from Pew and Gallup.


As of the first quarter of 2016, even with a slight downturn in the second and third quarters of 2015, consumer sentiment was as positive as it had been since the mid-2000s. It was also as positive as it had been in the mid-1980s during the recovery from the recession of 1981-1982. For example, the value of consumer sentiment at the end of 1983, as Ronald Reagan’s reelection campaign was gearing up, was 91.6. In the first three months of 2015, it was almost exactly the same: 91.5.


In other words, consumer sentiment is as positive as it was at the beginning of the election year when Reagan argued that it was “Morning in America.”


But is this positive view really shared by all Americans? For example, what about the working class?
Since 1980, the Index of Consumer Sentiment has reported separately for income terciles. Below is that graph:


Unsurprisingly, the higher your income, the most positive you feel. But the upward trend is the same in every group.

A bit more at the link...

[*michaelsean*]

7 years in and the economy is OK according to opinion polls.  Damn that 22nd amendment.

[GMDino]

(05-03-2016, 10:23 AM)michaelsean Wrote: 7 years in and the economy is OK according to opinion polls.  Damn that 22nd amendment.

Don't fret!

President Obama will implement martial law to stay in office!

Just like George W. Bush did!

And Bill Clinton!

And....

[*michaelsean*]

(05-03-2016, 10:38 AM)GMDino Wrote: Don't fret!

President Obama will implement martial law to stay in office!

Just like George W. Bush did!

And Bill Clinton!

And....

But this time it's for reals.

[THE Bigzoman]

Someone doesn't talk to millennials.

[Yojimbo]

Just looking at those charts, looks like we're due for our next recession any day now.

[Bengalsrob]

Upward trend hasn't came close to getting where it was when Clinton or even Reagan had it at. Looks like it's still below it's "happiest" point with BushII, and I'm struggling to remember a happy point then or now, personally. The upward trend isn't striking, it's bogus, and if anything is due to lower gas prices ( a huge satisfaction factor in polls) and that too is starting to fade. The needle tends to rise before any election, but make no mistake, Hillary is a far cry from Bill, and who knows how Trump would affect economics, but that's what we are looking at, it's not good folks.