8/22/2006

Why are people unhappy with the economy?

GNP grew at 4% during the first half of the year. Unemployment at 4.8%. Inflation low. And yet Bush's rating on the economy is so low. Here are the results of a new Gallup poll:


The economy 39 Approve 57 Disapprove

posted by John Lott at 10:21 AM

2 Comments:

Blogger John Lott said...

over the last couple of years interest rates were at all times lows. The rates have simply gone up closer to what they have been over time, though they are still a little low. Gas prices have gone up, but other prices have FALLEN, and over all inflation remains extremely low.

8/23/2006 10:16 AM  
Blogger John Lott said...

Well, SNS, the rates over the last few years were at historically low levels so it is not obvious why you say that they were at where they should be. You have to go back to the Great Depression to get similarly low rates. Here you had such low rates with real strong economic growth and low unemployment and stable overall prices. My advice would have been to gotten locked in at the historically low rates rather than to have assumed that they would always remain at those unusually low rates.

8/24/2006 12:40 PM  

Post a Comment

<< Home