“DON’T CALL IT A COMEBACK”
|| By FITSNEWS || The U.S. Congress saw a dramatic increase in its approval rating this year … from 7 to 8 percent.
That’s according to Gallup’s “Confidence in Institutions” poll, which tracks Americans’ faith in their public institutions. Last year’s seven percent figure for Congress was the lowest ever recorded – for any institution.
Congress isn’t the only institution sucking wind, though …
“Americans’ confidence in most major U.S. institutions remains below the historical average for each one,” Gallup pollsters note.
Thirty-three percent of Americans are confident in the presidency, down from the historical average of 43 percent. Meanwhile, thirty-two percent have confidence in the Supreme Court, down from the historical average 44 percent.
“It’s a picture of a nation discouraged about its present and worried about its future, and highly doubtful that its institutions can pull America out of its trough,” Kenneth T. Walsh of U.S. News and World Report wrote.
That’s for sure …
12 comments
For sure, the SC delegation is putting a major drag on the net positive.
Some things more popular than Congress:
Dog Poop
Donald Trump
Jar Jar Binks
Zombies
http://www.westernjournalism.com/14-things-popular-congress/
I’m pretty sure that 8% is largely comprised of window lickers.
‘ window lickers’ — you’ll have to explain this one to me
http://www.urbandictionary.com/define.php?term=window+licker&defid=116500
It’s a somewhat generational reference. I was probably the first generation that witnessed the “short bus” in rural Michigan. But if you are a boomer I don’t think they existed when you went to school.
More Rainbows and Unicorns
As bad as the political leaders are — the “crony capitalist,” globalist, free traders and the American workers seem to be able to keep the country humming along quite nicely.
The first quarter GDP was revised from -0.7 to -0.2. The GDI, which is supposed to track the same economic activity from the income side was up 1.9%. Today unemployment claims were again safely below 300,000. May’s monthly personal income and spending released today were up 0.5% and 0.9% respectively
Bloomberg’s Consumer Comfort Index had the highest weekly rise since April. (40.9 to 42.6) This is the second consecutive weekly rise after nine weeks of decline
While I agree with you that we are in a “boom phase”, who is benefiting and how much is dictating the terms of the boom. We are seeing a further concentration of wealth in the upper strata, which would be fine if the middle/lower class we getting wealthier too…but it doesn’t seem to be happening.
For example, inflation(not using the CPI metric that it equating hamburger to steak, etc.) is really hurting the middle class and inflation adjusted net worth is dropping:
http://www.economicpolicyjournal.com/2015/06/are-you-part-of-middle-class.html
House prices are rising in certain price ranges, but dropping in the lower ranges(region specific).
It really is a mixed bag, unemployment is dropping…but inflation is hurting the middle class.
So this boom phase is helping as much and previous ones….some think it’s pushing on a string…and of course when an artificial boom is created some think the pain afterward is continually worse over time…
I agree with a lot of your post. I believe that as the labor market tightens, more lower middle class and poor will benefit.
This graph shows how far the economy still has to go for full recovery.
http://data.bls.gov/timeseries/LNS12300000
Good information is difficult to come by, as a believer in praxeology, and naturally of ABCT as a result, this is to be expected.
It is also the reason by which there shouldn’t be a central bank.
So all that being said, you can gather enough information to apply some deductive reasoning, so for example:
http://www.mybudget360.com/cost-of-living-1938-to-2013-inflation-history-cost-of-goods-inflation/
It has been demonstrated before that the continual inflation of the currency base has really gradually reduced living standards in many ways(gasoline, food, etc.) despite the advance of technology in things that improve life(internet, phones, flat screens) because in the net…the “basics” overwhelm the gains in technology.(and it’s why the BLS swaps hamburger for steak, etc. et al)
This sanctioned 2% yearly theft as policy has hurt more people than helps IMO.
There’s plenty of sound arguments out there suggesting a slow decline in the standard of living for especially the middle class(not so much the wealthy) since 1971, regardless of the up and downs of the labor market on short terms basis(ies?)
6-3! 6-3! OBAMACARE IS SAFE! WOOOHOOO
If I were the Republican elected officials, I would be breathing a big sigh of relief.
I looked at the draft which said $9958@mk5
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http://www.GlobalworkworldCloud/C0mputing/0ssub...
This is sad, when we basically re-elect the same clowns(they nothing in our favor)-and our impression of them improves.