Source: CounterPunch
by Dean Baker
“People’s negative assessments of the economy continue to be somewhat of a mystery. The recent run-up in gas prices and inflation more generally is unambiguously bad news, but is this the worst economy ever, as some of the consumer confidence measures have been showing recently? Real income for those at the middle and bottom has generally been rising by standard measures, so it seems that we’re missing something, and I’m not sure any of us have figured out what. My friend, Jared Bernstein, argues that a big part of the story is that consumers are unhappy not just because of inflation, but because prices are high. Implicitly, they expect them to come down and are unhappy that they don’t.” (07/02/26)
https://www.counterpunch.org/2026/07/02/why-people-say-the-economy-is-bad-fees-and-insurance/