It's interesting. Inflation continues to drift lower. Stocks are at all time highs. The unemployment rate is below 4%.

Meanwhile, the primary discourse is around how supposedly terrible both fiscal and monetary policy has been over the last 3 years.

a big shortcoming of coverage of the American presidency is treating it in isolation as if developments are unique to the US.

populist discontent,
unpopular leaders, inflation - all global phenomena of which the US is just one example. and in some cases, as with the economy,

Coming Wed, 5/22 at 6:30p ET - Paul Krugman speaks with Henry Farrell & Abraham Newman about their new book 'Underground Empire: How America Weaponized the World Economy' - reserve to join in person or online: gc.cuny.edu/events/undergr… Stone Center on Socio-Economic Inequality Henry Holt & Company

NEW:

There has long been a gap between people’s views of crime locally (not a big issue) vs nationally (it’s terrible out there!), but there are signs this is now happening to economic perceptions too.

My finances? Going okay. The economy? Awful.

What’s going on?