A Boring Dystopia

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As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows (apnews.com)

submitted 1 day ago by FlashMobOfOne@lemmy.world to c/aboringdystopia@lemmy.world

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WASHINGTON (AP) — U.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices hover near record levels.

The Conference Board’s consumer confidence index slipped 0.7 points to 93.1 in May, the first decline after three months of gains. The measure hasn’t fallen as much this year as other gauges of consumer attitudes, but it has been stuck at a low level since the pandemic. Before COVID-19, it regularly reached 130.

A separate gauge of consumer sentiment released last week by the University of Michigan fell to a record low this month. Soaring gas and food costs have worsened inflation that is outpacing the average growth in paychecks, reducing most Americans’ purchasing power. Americans have soured on President Trump’s economic policies, polls show, potentially creating problems for Republicans heading into the midterm elections.

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[–] HazardousBanjo@lemmy.world 33 points 1 day ago (1 children)

You have to be fucking delusional to compare everything Trump is doing with ICE, the National Guard, the USMC and the mass creation of concentration camps, along with reclassifying antifa as "terrorists" to justify bypassing civil rights to kill or lock up dissidents, to anything the Dems have ever done.

[–] cattywampas@lemmy.world 26 points 1 day ago

But by saying "both sides" I can refuse to educate myself or get involved all while maintaining a smug sense of superiority. Sounds like a win-win to me.