As I was preparing for my daily radio show broadcast yesterday, I began looking at a variety of polls over the last year as to what was the most important issue to voters for the 2016 election. One poll after another, regardless of whether it was from a conservative or liberal perspective, showed the same thing. The following is a sampling of the three highest ranking issues.
- CBS/NYT:Â Economy/Jobs, Healthcare, Immigration
- George Washington University: Economy, Illegal Immigration, Jobs
- CBS:Â Economy, Healthcare, Terrorism
- USA:Â Jobs, Security, Immigration
- CNN:Â Economy, Terrorism, Illegal Immigration
- Bloomberg:Â Unemployment, Healthcare, Real Incomes
- CNN/ORC:Â Economy, Healthcare, Budget Deficit
As the Riddler in Batman would query:
“Riddle me this, Batman. How is it that the mainstream media analysis continues to report how strong the economy is, yet in every major poll over the last year the ECONOMY and JOBS rank as the highest concern?”
I have discussed the disconnect between Wallstreet and Mainstreet previously stating:
“So, while the markets have surged to ‘all-time highs,’ the majority of Americans who have little, or no, vested interest in the financial markets have a markedly different view.”
This is a critical point as headline reports continue to suggest a vastly improving and sustainable economic recovery. However, the reality is seemingly quite different.
It is there that we find yet another riddle. Central Bank interventions were an emergency measure to keep global economies from falling to depressionary levels. Now, that headline economic data, bank balance sheets, and employment has recovered, there is little need for emergency measures to be continued. Right? This was an interesting note from Sam Ro this morning:
 “There’s been a lot of talk in recent months about the Federal Reserve’s plan to tighten monetary policy by raising rates later this year. This would be a significant sign that the economy has finally moved away from the financial crisis.
In reality, there are far more central banks cutting rates than hiking rates around the world. This, as policymakers do what they can to stimulate growth and stoke inflation in their local economies.
‘The big story in 2015 – a full 7yrs after the Lehman event – remains that of central bank easing,’ Bank of America Merrill Lynch’s Barnaby Martin writes. ‘Year-to-date, central banks across the globe have cut interest rates 49 times, with China and Serbia being the latest.'”
