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Old 04-14-2019, 04:12 PM
 
Location: Connecticut
1,255 posts, read 1,328,491 times
Reputation: 1452

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I'm very perplexed as to why I STILL hear all these people say the economy is still bad, just like they said not long after 2008 all the way to 2014.

Why?

-Unemployment is at a nearly 5 decade low.

-3% GDP growth +/-

-All time low African American and Hispanic unemployment rate.

-Consumer confidence at an all time high

-Stock market at an all time high

-Wager keeping up with inflation

-Biggest wage gains among low-income people.

And on and on, and on...............

So WHY do I keep hearing people say its a struggle in "this" economy?

In my particular industry, there is a worker SHORTAGE and companies are betting for qualified applicants. Just recently, I was given a job offer literally 2 minutes after finishing the interview. This is just one of many examples.

So what gives? Why do I keep hearing so many people give the impression the economy is still bad like it was 2008-2014?

Last edited by PJSaturn; 04-14-2019 at 04:48 PM..
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Old 04-14-2019, 04:17 PM
 
Location: Brawndo-Thirst-Mutilator-Nation
16,801 posts, read 16,936,960 times
Reputation: 12966
I think some view a lot of what is going-on as rigged and fake.

Just the historic run-ups in the housing and stock markets make people think "something"
is going to burst.
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Old 04-14-2019, 04:19 PM
 
Location: Aurora Denveralis
8,717 posts, read 3,328,822 times
Reputation: 13238
Quote:
Originally Posted by papafox View Post
So WHY do I keep hearing people say its a struggle in "this" economy?
Gosh, that is a puzzle, isn't it?

1) Maybe they're all lying and just want something to whine about.

2) Maybe it's a tiny minority who are losing out, probably because they're lazy or something.

3) Maybe our economic indicators are locked on autopilot, still charting the wonder future of the past, and blind to rising economic realities.

But, any snark aside, it's a good question: if our economy is so damned wonderful, why is there an ever-rising tide of voices saying the contrary? So I'll go with a mix of #3 and this:

4) Our economy is just fabulous for those for whom it's fabulous... which is an ever-shrinking portion of the population. Mostly those who never stop complaining about all the lazy, entitled people around them, oddly enough.
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Old 04-14-2019, 04:30 PM
 
7,059 posts, read 7,487,804 times
Reputation: 10015
Quote:
In my particular industry, there is a worker SHORTAGE and companies are hurting for qualified applicants and offering generous sign-on bonuses. Just recently, I was given a job offer literally 2 minutes after finishing the interview. This is just one of many examples.
What's your industry?

Because in my field there are way more people (candidates) than jobs. So it's en employer's market. Always has been.

Last edited by PJSaturn; 04-14-2019 at 04:38 PM.. Reason: Deleted reference to cross-post.
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Old 04-14-2019, 05:12 PM
 
4,249 posts, read 8,217,001 times
Reputation: 5087
Quote:
Originally Posted by papafox View Post
I'm very perplexed as to why I STILL hear all these people say the economy is still bad, just like they said not long after 2008 all the way to 2014.

Why?
How many years does it take to save enough to buy a house?
How many years does it take to save enough to buy a car outright?
How many years (in USA) does it take to pay off a student loan?

Maybe that's why?
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Old 04-14-2019, 05:20 PM
 
Location: NC
6,730 posts, read 8,280,221 times
Reputation: 14021
We are robbing the future so we can do well financially in the short term. Or rather so that those who are already doing well can do even better.
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Old 04-14-2019, 05:38 PM
 
Location: NC
918 posts, read 703,749 times
Reputation: 1206
Quote:
Originally Posted by nuala View Post
How many years does it take to save enough to buy a house?
How many years does it take to save enough to buy a car outright?
How many years (in USA) does it take to pay off a student loan?

Maybe that's why?
You can either shake your fist at how lousy your luck is or change it.

I chose to change my luck. When I was in high school (2000) I couldn't imagine earning $35,000 a year. The year after I graduated college I made $12,700 or something. Combined our income wasn't even $30,000. Ha. Little did I know what the real world was like. But I was a millionaire at 35.
  • I bought a house.
  • I paid cash for a car ($21k)
  • I paid off all our student loans (equivalent to about $60k in today's dollars)
Everyone always has an excuse for why they can't succeed. Not many have an excuse for why they did.
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Old 04-14-2019, 05:48 PM
 
2,496 posts, read 2,130,581 times
Reputation: 5900
Quote:
Originally Posted by pipsters View Post
You can either shake your fist at how lousy your luck is or change it.

I chose to change my luck. When I was in high school (2000) I couldn't imagine earning $35,000 a year. The year after I graduated college I made $12,700 or something. Combined our income wasn't even $30,000. Ha. Little did I know what the real world was like. But I was a millionaire at 35.
  • I bought a house.
  • I paid cash for a car ($21k)
  • I paid off all our student loans (equivalent to about $60k in today's dollars)
Everyone always has an excuse for why they can't succeed. Not many have an excuse for why they did.
A large inheritance huh
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Old 04-14-2019, 05:49 PM
 
Location: Aurora Denveralis
8,717 posts, read 3,328,822 times
Reputation: 13238
Quote:
Originally Posted by pipsters View Post
Everyone always has an excuse for why they can't succeed. Not many have an excuse for why they did.
Yup, everyone who lucked out always assumes anyone else can do it, too.

Mostly because they completely misunderstand the meaning of the word.
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Old 04-14-2019, 05:50 PM
 
Location: San Josť, CA
3,399 posts, read 5,878,927 times
Reputation: 3543
Quote:
Originally Posted by pipsters View Post
You can either shake your fist at how lousy your luck is or change it.

I chose to change my luck. When I was in high school (2000) I couldn't imagine earning $35,000 a year. The year after I graduated college I made $12,700 or something. Combined our income wasn't even $30,000. Ha. Little did I know what the real world was like. But I was a millionaire at 35.
  • I bought a house.
  • I paid cash for a car ($21k)
  • I paid off all our student loans (equivalent to about $60k in today's dollars)
Everyone always has an excuse for why they can't succeed. Not many have an excuse for why they did.
All of your glad-handing aside, it's good that you fell into whatever you did because I wouldn't understand the logic behind paying for a car with cash when you could have made far more investing it yourself while paying the 1.9% interest on the car loan (I'd assume you have good credit. Oh, of course you do.). But it's decisions like those that cost people who aren't quite as fortunate as you, so just consider that the next time you want to look down on others for their limited successes. Afterall, it's not flawless financial decision making that made you successful.
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