But Krugman also points out that many Americans are feeling "pessimistic" about the economy and addresses the reasons for their concerns. Krugman goes on to say that while Americans' economic concerns, including "inflation," are certainly valid, it is important to look at the big picture. The economist/Times columnist explains, "How can people be feeling so bad about a seemingly good economy? That, presumably, is why Fox News and Newsmax have been running segments about the Biden economy featuring photos of empty shelves that were taken last year or in other countries." If the Biden Administration wants to turn perceptions around, an objectively good economy won't be enough; the good news will have to be sold, hard."

Source: New York Times November 10, 2021 16:27 UTC