During his “My Take,” Monday, “Varney & Co.” host Stuart Varney discussed why most voters view the U.S. economy as largely a negative, even though its performing well in many ways and is growing faster than Europe and Japan.
STUART VARNEY: The pundits are puzzled. They can’t understand why people think the economy is so bad.
They think it’s doing really well and in many ways they are right. We are growing faster than Europe or Japan.
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Unemployment is a low 4%. American companies dominate the most important industries.
The so-called Magnificent Seven Big Tech companies are worth more than the stock markets of Britain, Canada, Germany and Japan combined. That is success.
The influential “Economist” magazine has this headline, “America’s glorious economy should help Kamala Harris.”
“Glorious” is a strong word. So why are so many voters convinced the economy is anything but “glorious?”
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Poll after poll shows them unhappy with their own financial position. Why is that?
The answer is obvious to anyone connected to reality. Everything costs more. Everything.
Insurance, dry cleaning, the dentist, the doctor, drugs, cereal, bread. Buy just about anything and you see it costs more.
Have you noticed at the supermarket check-out line, people taking stuff out of their basket because they can’t afford it?
Their money doesn’t stretch as far.
It is true that the rate of price increases is slowing, but we’re still stuck with high prices from the inflation surge.
Prices are not coming down. Seniors on a fixed income don’t care about economic growth.
Low-income people don’t care about the Magnificent Seven.
They care about Donald Trump’s opening line at Madison Square Garden on Sunday Night.
“Are you better off now than four years ago?” Voters are just not feeling this “glorious” economy.
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