For people who rent it is bad. High inflation means all the necessities of life are more expensive. High interest rates cause pain but the pain is not evenly distributed.
For people who own it is fine (homes and stocks). They’re not hurting so they keep spending.
There really are two economies. One is doing great and the other one sucks.
Well, I guess if everybody thinks things are going down, and indicators show they're up, it could be something wrong with the indicators, no?
I really REALLY don't understand what the powers that be think they are accomplishing by trying so hard to gaslight hundreds of millions of people into believing their objective financial reality is just subjective vibes that are incorrect. You can convince people that things going happen on the other side of the planet are A or !A but people see their own finances every single day. It's amazing hubris to think the tools used to convince people of the impact of policy on things that have little connection to their lives will succeed in convincing them that their daily reality is something other than what it really is.
In the end they look hopefully out of touch and even a bit spiteful that their machinations aren't working. Go have a talk with Bill "I feel your pain" Clinton for a refresher on what works when trying to connect to the public on the economy. Connecting the Wall Street is great for campaign fund raising but death to voter engagement.
The indicators are wrong because they make assumptions that do not match with how real people live their lives.
It's basically a physics problem but with bad units.
Median wage increase rate / inflation > 1 does not mean that the average person is better off.
As an N=1, I have more money than I used to, but I'm worse off because the majority of the things I want to do have skyrocketed in price over the past few years.
This is then reflected in the official inflation statistics by virtue of the fact that I buy less of those things, artificially decreasing the metric.