this post was submitted on 26 May 2026
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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 4 months 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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[–] FlashMobOfOne@lemmy.world 41 points 4 months ago* (last edited 4 months ago) (36 children)

This, more than anything, is why I hate both parties. Harris tried to gaslight us into thinking the economy was okay. Now, Donald's doing it.

But these limpdick, rich motherfuckers don't understand that the poor do their own grocery shopping, their own child care, actually open their own medical bills, and actually notice how much worse their schools have gotten and how many fewer opportunities there are to build a better life. The economy doing great for the rich has zero meaningful connection to the circumstances of the poor and middle class now.

[–] reddig33@lemmy.world 48 points 4 months ago (13 children)

Electing Harris would have meant Lina Khan would have stayed at the FTC and we wouldn’t have the jackass Trump just appointed to the Fed. Both parties are not the same.

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