While I'm not going to blame Biden for the economic situation right now since his policies look more like they've cushioned us against a much worse economic situation by pumping money into state-side manufacturing, I absolutely fucking HATE how out of touch economists are these days. They look at productivity (the value of which barely gets to workers), the stock market, or at spending that's driven by debt and rich people, and say "everything looks fine. Oh, most of you can't afford to eat, or get a job? Sounds like a personal problem."
If the conclusions that economists come to are so consistently out of touch with the experience of the average person, maybe they should fix their fucking outlook criteria!!
I think it was another post on here that had a bunch of [good] economists write a paper stating that if the inflation formula had accounted for borrowing costs like they USED TO, the inflation numbers would match much more closely with public sentiment, after having topped out at 18 fucking percent at the height in 21/22.
And of course there's how, at the height of the pandemic, they blantantly changed the criteria for what counts as a recession at all to say "no worries guys, everythings fine" when we were absolutely in a recession based on the old criteria.
Fuck economists