When has the economy ever been good, and people recognized it as such?

[☑︎#VoteDemocrat]

I mean, its easy to look back on the past, but i'm legitimately curious.

Has there ever been a time where people looked around and said to themselves, "we're doing GREAT!"

Every contemporary economic report seems to spell doom and gloom.

 

[MrPentatonic]

But remember, GDP growth, which is what most people on the news etc. are talking about when they mean economic growth is only part of the story.

 

[☑︎#VoteDemocrat]

But remember, GDP growth, which is what most people on the news etc. are talking about when they mean economic growth is only part of the story.

Did they SAY they were feeling good? Then?

 

[MrPentatonic]

Did they SAY they were feeling good? Then?

Unless you go around the country asking everyone, you can only get a picture with quantitative data ie. Unemployment rates, income disparity, % living under poverty line, % of working class, middle class and the rich and the ratio etc etc etc.

 

[☑︎#VoteDemocrat]

Unless you go around the country asking everyone, you can only get a picture with quantitative data ie. Unemployment rates, income disparity, % living under poverty line, % of working class, middle class and the rich and the ratio etc etc etc.

So...no?

 

[Lifer11]

The 90s, especially the mid to late 90s, in America it was absolutely acknowledged that things were relatively good economically. As always there were impoverished people, ups and downs in the stock market, and a few scares from international markets that the media would play up for ratings, but overall things were good and the average American knew it and had plenty of opportunities to better themselves and their financial situation.

However the people in the 90s who said "we're doing great" without being diligent and knowing that any economic boom is always followed by an economic downturn are the people who have since lost a large portion of their wealth since 2008, while the insiders and the people who know how the system works, and know how to make it work for them, have only made more money in that time.

EDIT: While the media overhypes shyt, it is absolutely true that America's economic situation is far worse off now than it's been at just about any point since we've become a true world power, though it is still better off than just about every other country in the world. Many signs point to it being unavoidable, and in turn a controlled collapse by design, in a move toward a more balanced global economy.

 

[Poh SIti Dawn]

After being in Europe for a couple of months, things ain't as bad as people make it out to be.

 

[JahFocus CS]

The economy is always relatively good for the wealthy

 

[Lifer11]

The economy is always relatively good for the wealthy

The economy is always great for the wealthy. In times of turmoil it's even better for them. Wealth isn't destroyed it just changes hands, so when a recession hits and the price of shyt drops and the average person is losing money, the wealthy buy shyt up and then there's a "recovery" and they sell off whatever they bought to the "fools" which causes inflated prices and a bubble, which the wealthy have already avoided being hurt by cashing out and becoming wealthier and then the bubble bursts and they do it all over again.

It's a rigged game.

 

[babylon1]

90s was aight. game is rigged.

 

[Red Shield]

I would have to say the 90s too. Probably the last good decade the usa will ever have

 

[ryshy]

Yes its called the 50s

 

[wheywhey]

The 90s. If you didn't have a job, you didn't want one. Everyone was feeling good, so the government and corporations were able to enact all sorts of laws and policies that are still screwing people to this day.

In the late 80s there was a housing bust in Massachusetts and Arizona (maybe other states). Few people in Arizona had their homes foreclosed because there was something called an assumable loan. You just handed your house over to someone else who was willing to assume the payments, left the bank completely out of the transaction. Banks got rid of assumable loans and promoted variable interest loans because in the 80s interest rates went up to 17% and banks missed out because everyone had a fixed loan.

The Telecommunications Act of 1996 deregulated media ownership and allowed a company to own multiple outlets, expanding/creating the empires of Clear Channel (iHeartMedia) and Rupert Murdoch.

Public college tuition started increasing dramatically due to state budget cuts.

NAFTA and GATT reduced or eliminated international tariffs. Factories in the US closed and manufacturing went to Mexican maquiladoras then cheaper countries including an opening China. (Walmart used to advertise Made In America at the beginning of the 90s, didn't last long.)

Tech workers were highly in demand which ultimately led to today's H1B workers and offshoring in the industry.

What were Americans consumed with? Bart Simpson, Joey Buttafuoco, Michael Jordan, OJ trial, baseball homerun record, Monica Lewinsky, and Y2K.

 

[plushcarpet]

politicians ALWAYS make things seem worse than they are
you can't get elected if there are no problems to fix

the last time the US economy was actually bad enough for complaining was during the depression

 

[.༼-◕_◕-༽.]

I mean, its easy to look back on the past, but i'm legitimately curious.

Has there ever been a time where people looked around and said to themselves, "we're doing GREAT!"

Every contemporary economic report seems to spell doom and gloom.

Before 9/11/01.... Money was freeeeee flowing all over the financial district....