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Kiplinger
Kiplinger
Business
Neale Godfrey, Financial Literacy Expert

Are You Poor?

A woman pulls out the pockets of her pants, showing that they're empty.

Are you actually poor, or is it that you just keep hearing that you are poor and have chosen to believe it?

The Harris Poll did a survey for the Guardian that shows that 56% of Americans believe that we are in a recession (though, actually, gross domestic product (GDP), the measure of the economy, has been growing), 49% believe that the S&P 500 index is down for the year (it’s up more than 16%), 49% believe that unemployment is at a 50-year high (it is at a 50-year low), and 72% think that inflation is increasing (the rate of inflation has eased for four months in a row, to 2.9% in July 2024, from a post-COVID peak of 9% in June 2022).

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