Americans Still Pessimistic About Economy

Almost 70 percent think the economy is in bad shape

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Never mind a stock market breaking records and an unemployment rate inching down: Americans still think this economy stinks.

That’s according to a new CNN poll out Friday, which found almost 70 percent of respondents think the economy is in bad shape, while only 32 percent think things are good. More than half of Americans don’t think conditions will improve next year, according to the poll.

The economy has seen marked improvements in recent weeks. Stocks have surged, unemployment is the lowest it’s been in five years, gas prices have dropped and even the housing market is recovering. But the long-term unemployed or under-employed continue to cut back. The poll found 36 percent were reining in spending on food or medicine, a five-percent increase from 2008, during the height of housing market crash.

Those who viewed the economy negatively are mostly rural residents, according to the poll. The poll surveyed 1,035 Americans by telephone between Dec. 16 and 19, with a sampling error of plus or minus three percentage points.

[CNN]

40 comments
DavidHill1
DavidHill1

It is no wonder as corporate America and the country's politicians have sold the American people down the swanee over the past 30 years. Firstly they have fuelled the Chinese economic miracle through vast investment driven by sheer corporate and personal greed that has led to tens of millions of jobs being lost in the states and their transferred to the East. No wonder that the people of the US are surviving on part-time jobs like they have never done before and where unemployment before political massaging is in reality over 15% and not 7%.

In the background all the time of course has been their politicians and leaders who have made their fortunes also whilst Rome burnt. Therefore the American people should just look at these so-called patriots to see why things have and are going so horribly wrong for them.

For an oversight people should visit -

http://worldinnovationfoundation.blogspot.co.uk/2014/01/global-poverty-and-inequality-are.html


Dr David Hill
World Innovation Foundation

ToddWest
ToddWest

I run a small business and it has not improved. This 85/75 bill the fed is stealing from us every month is going towards big business and bank cronies......the government is one massive racket.

firmsoil
firmsoil

Ahem... "95% Of Income Gains Since 2009 Went To The Top 1%".

samT
samT

Those who viewed the economy negatively are mostly rural residents..."

THAT says it all.  While things -- the economy, wars, etc. -- have changed for the better, the thing that HASN'T changed is the number of ill-educated, willfully ignorant, conservative-minded citizens in the USA.  And, unfortunately, they continue to subsist on a mental diet of Fox "Views" and radio/televised rants by far-right icons like O'reilly, Hannity, Limbaugh and the hickbilly who calls himself Duck Commander.  Even nonfiction and children's books with those names on them have sold well.


Until that portion of American society opens their minds and hearts, we'll continue to back-slide.


Winter is coming. 


jwarrencollins
jwarrencollins

We live in an amazing era where automation moves humans out of the factory and toward an occupation du jour sold by overpriced institutions of learning....meanwhile Americans and the world are pumping out more humans. Populations bulging with eaters, drivers and consumers needing to make their way. Meanwhile, the gotbux crowd rakes it in, oblivious to the dangers they face once this thing tips over. They're happy for now with the lion's share of all that may be owned, leaving ninety five percent of us to scrap over the scraps remaining. Nothing new here...just a matter of identifying new need and new industry....for example there will be a great need for head catching baskets once the guillotines start slicing. Nothing new here. 

edonut
edonut

From article..

" That’s according to a new CNN poll out Friday, which found almost 70 percent of respondents think the economy is in bad shape, while only 32 percent think things are good."

Next.....

SmokeStackLightning
SmokeStackLightning

I know this. Everything and everyone in the area which I live have seen no benefits from the stock market. Unemployment is lower because benefits have expired for lots of people. There still are no jobs that pay a survivable wage. George W. Obama cares less for the poor than the original W. The rich get richer and the poor should hurry up and die and stop collecting unemployment benefits.

jdhcon
jdhcon

I think the article confuses  pessimism  with lack of satisfaction. Most are dissatisfied that current government efforts on the economy are not having all positive results however I cannot recall any time when they did.  We should all move to a Capitalist or Socialist Utopia depending on your political leaning. I am searching the Internets now to find one but having little luck.  

ChristopherMcElree
ChristopherMcElree

Never mind a stock market breaking records and an unemployment rate inching down. Because the stock market is breaking records at taxpayer expense via Quantitative Easing Infinity and Ben Bernanke. Unemployment is inching down because people are giving up looking for work, and because low paying, part-time service jobs are counted by government and media as replacements for what were decent full-time jobs before they went poof. All the Democrats can think to do is think up ways to make it ever more expensive and difficult to hire. All Republicans can do is pour more corporate welfare into the pockets of the traitorous greedy corporate fatties. 

BobJan
BobJan

If anyone out there is looking for the government to fix anything, well you're just "s h i t" out of luck. A prez that couldn't get a website up and going, A prez that took us into 2 wars, A prez that said it wasn't sex he had with that woman, A prez that supplied arms to the Contras,  A Congress that couldn't figure out what to do with "immigration", "unemployment", "Syria", "The Budget", "Bin Laden", or anything for that matter. During the last 35 years the wealthy have gotten wealthier while the rest of the population have stagnated or gone down. So what makes anyone here think that anyone in government is their friend, their voice, their helper. The leaders in government have helped themselves to the taxes we've paid and given it out to their friends in the form of government contracts. Do you think the Congress actually cares if you don't like paying $500.00 for a toilet seat. Do you think the Congress actually cares if you don't like paying $350.00 for a hammer. The only thing they care about is getting reelected. And they spend MILLIONS of DOLLARS (campaign contributions) to get elected to a job that pays $176,400.00/yr. All so that they can represent Joe and Judy Lunchpail. Yup, we've got the most expensive Congress money can buy.

CebVa
CebVa

"The economy has seen marked improvements in recent weeks. Stocks have surged, unemployment is the lowest it’s been in five years, gas prices have dropped and even the housing market is recovering."

What country is she talking about?  Stocks are in a bubble pumped by the Fed.  Labor participation rate is the lowest it has ever been.   Record numbers on food stamps.  Gas prices just rose in my area.  The housing market is still in the toilet - nowhere near recovery.  

The numbers tell the truth.  Consumer confidence is at its lowest level since Carter was Prez. 


wulfdjservice
wulfdjservice

Yeah duh. Just because the 1% are raking it in does not mean the rest of the country is doing better. next crash is less that 5 years away.

racqueteer
racqueteer

Americans clearly prefer overheated, bubble economies. But long-term, aren't we better off with slow and steady growth that does not lead to future crashes? Yeah, but it doesn't feel as good.


As to the rural vs. urban, that's just a party-affiliation thing. If Romney were President today under exactly the same circumstances, the survey result would be reversed.

jdhcon
jdhcon

I think rural people are worried about losing their farm bill hand outs and unemployment benefits. that is all those liberals out there in the country care about. Us patriots in the urban areas know that god blesses the USA.

Southpaw
Southpaw

Of course the rural people are less optimistic, they aren't the ones grabbing all the free government handouts. 

themagguy
themagguy

Last time I checked 70% + 32% = 102%


There are 10 kinds of people in this world. Those that understand binary and those that don't

blee808
blee808

@edonut you do know theres a margin of error within every poll right?

michael.f.passe
michael.f.passe

@SmokeStackLightningYour summary of the problem is accurate, but this has very very little to do with the President. Perhaps it does in a larger sense, but if so, it was Ronald Reagan that really unleashed the hounds of unregulated corporate greed and collusion that led us to this place, where the "social contract" between employer and working person has broken down completely.

ChristopherMcElree
ChristopherMcElree

@CebVa Yes. Banks aren't lending the money they get from "quantitative easing". They are redepositing it and collecting interest on it. We've seen a wholesale return to large down payments for mortgages, and the need for good credit scores to qualify. Unbiased experts say it will take a generation for housing to recover. Small businesses are not borrowing. We remain in a pervasive environment of uncertainty, and with a government dominated by the party hostile to business. Growth with these folks in power is not going to be possible.


tom.litton
tom.litton

@racqueteerIt depends on if the slow and steady growth can keep up with population growth.  If it can, then definitely.  If it can't, well then you can either of periods of low unemployment and periods of high unemployment, or you can have a steady stream where there are too many workers and not enough jobs.

BobJan
BobJan

@jdhcon The earth is the Lord's and everything in it. 

I suppose you're one of those that "God helps those that help themselves" thinks about.

AdamMeddaugh
AdamMeddaugh

Because the farm bill isn't a hand out at all.

maxtks
maxtks

@themagguy "...with a sampling error of plus or minus three percentage points."

dollmike
dollmike

@ByeByeUSAAsWeKnowItYeah sure that's reasonable all right. Stop electing fools get rid of the TP,  stop watching FOX and turn off that stupid radio. Maybe then reasonable can be part of the conversation.

BoozerSchmidt
BoozerSchmidt

@michael.f.passe@SmokeStackLightning are you high on crack or born naturally stupid? Reagan implemented a first time home buyer program that targeted specifically the working poor. Reagan built starter homes where my friend Marty who flipped burgers for $3.35 an hour was able to purchase a home that cut his rent in half through an equity building mortgage. This program kept out investors, and assured a housing bubble wasn't being created.

Then along came Clinton and specifically Barney Frank who bastardized this program, it no longer targeted the poor but included all, you could buy more than 1 home to flip, and what caused the housing bubble.

 Now morons like you blame Reagan for what liberals, a social disease, inflicted. if you push just a little harder you will shove your head firmly up your ass setting a new record

jwarrencollins
jwarrencollins

@tom.litton @ChristopherMcElree Not so much "tax payers" as "savers". QE is inflation...it pumps new money into the system, taking from the value of old money. A dollar in a savings account is worth 97 cents in a year (less taxes). That value moved to new money in circulation, but not really circulated at the lower strata of the economy, but concentrated at the banker level. The banker would pay for funds in savings to keep his reserves up, but with QE, he just doesn't have to. So unless you're a fat cat (or dumb enough to think you'll be one), give the guy a little room to make his point. He's mostly right. 

blee808
blee808

@ChristopherMcElree @CebVa you should need a sizeable down payment and good credit to get a mortgage. the fact that you didnt before is what got us into the housing mess to begin with.

UrnsSo
UrnsSo

@AdamMeddaugh A lot of the farm bill is food stamps for poor inner city people. 

jdhcon
jdhcon

@BoozerSchmidt @michael.f.passe @SmokeStackLightning You are correct. Reagan increased government spending, caused the deficit to sky rocket and started the program that resulted in the housing bubble. He was a big government spender and sought government solutions to perceived problems. he was a good president. 

michael.f.passe
michael.f.passe

@BoozerSchmidt@michael.f.passe@SmokeStackLightning People who call posters "morons" and "stupid" are called, among other things, trolls, and the opinion of a troll isn't worth the time it took to type this response.

tom.litton
tom.litton

@jwarrencollins@tom.litton@ChristopherMcElreeThen why has inflation been far below the Fed's target?


More importantly, why wouldn't a lower interest rate (which is the effect of QE) not lead to lower housing costs, and business expanding, at least on some level?

ChristopherMcElree
ChristopherMcElree

@blee808 @ChristopherMcElree @CebVa I'm not arguing that you shouldn't. I'm arguing that housing can't return to what it was as long as you have to. The bubble burst. For housing to return to what it was, you'd have to reinflate the bubble.

Plus, that's an oversimplified point of view. The mess was created by the packaging and selling of "sub-prime" mortgages through a process known as "securitization". These securities were criminally mislabeled as viable investments, and investors the world over bought into them. The homeowners didn't do this. The business community did it to itself.

jdhcon
jdhcon

@JoeBowers @AdamMeddaugh 

How does the government know which crops not to grow when they cannot build a working website. I think they should just fly over farms in black helicopters and dump cash on them. 

JoeBowers
JoeBowers

@AdamMeddaughReally? And how is paying someone NOT to grow crops welfare? Seems more like just ensuring the economy can be controlled the way you want it to. Why, if the farmers would be allowed to grow food crops, the populace may not have to be dependant on foodstamps because there would be more supply to meet the demand. That's simple enough even a young buck like you should understand. Maybe try researching a little before you start spouting off.

AdamMeddaugh
AdamMeddaugh

Seeing as your either a farmer or a service worker in many rural environments I wouldn't be so sure that food stamps are exclusive to inner city individuals.

Either way farmer welfare heavily outweighs the few grand an individual might get in food stamps.