S4 Ep12: Unreliable Narrators (with Jonathan V. Last)
Dec 9, 2023
auto_awesome
Guest Jonathan V. Last argues that voters are catastrophizing the state of the economy. The podcast explores the misperception of the economy, rising costs of living, impact of the pandemic, and rising food prices. Communication and the impending recession are also discussed, along with the state of the economy and its impact on voters.
Voters have a perception of the economy being in poor condition despite positive economic indicators.
Rising housing costs have created a sense of despair and limited upward mobility for younger generations.
Rising food and gas prices are putting a strain on people's budgets and affecting their ability to afford basic necessities.
Deep dives
Disconnect between perception and reality of the economy
Despite positive economic indicators such as GDP growth and low unemployment rates, there is a widespread perception among voters across the political spectrum that the economy is in poor condition. This disconnect between people's perceptions and objective economic reality is a significant challenge for the Biden administration.
Housing affordability crisis and its impact on the American Dream
The rising cost of housing has created a grim outlook for many Americans, particularly younger generations who find it increasingly difficult to afford a home. The dream of homeownership seems unattainable for many due to skyrocketing housing prices and the challenge of saving for a down payment. This has led to a sense of despair and a feeling of limited upward mobility.
Expectations versus reality in evaluating political leaders
One intriguing aspect is how people evaluate political leaders based on their past economic performance. Despite the challenging economic conditions during the final 18 months of Trump's presidency, many voters still view his tenure favorably due to the positive economic indicators prior to the COVID-19 pandemic. This peculiar asymmetry in judgment contrasts with other areas of life where people tend to focus on recent performance rather than past accomplishments.
Rising Food Prices
Many individuals are experiencing the impact of rising food prices, which has made it more challenging to afford groceries and eat out. People are noticing an increase in fast food prices, with a quick $20 lunch now costing $40 or $50. The rising costs have made it difficult for families to stretch their budget, with one person mentioning that they used to spend $150 at the grocery store for two weeks of food, but now that only provides half of what they used to get. Affordability concerns also extend to healthy eating, as nutritious options are often more expensive.
High Gas Prices and Economic Impact
Another significant concern expressed by individuals in the podcast is the high cost of gas and its impact on their financial situation. People remarked that gas prices have significantly increased, making it more challenging to afford trips or visit friends and family. The rising gas prices have also affected other areas of their lives, such as car maintenance, with one example highlighting the high cost of spark plugs. The individual mentioned being quoted $900 for spark plugs and expressed frustration over factors like increasing gas prices and shutting down pipelines. These rising costs have put a strain on people's budgets and forced them to work extra hours to make ends meet.
The economy isn't the best...but it could be a lot worse. And our guest thinks voters are catastrophizing too much about the state of things. Sarah's best friend Jonathan V. Last (JVL) joins the show to argue with voters who aren't there to argue back.
