“It’s the economy, stupid” was a phrase coined by James Carville in 1992 when he was advising Bill Clinton on his successful run for the White House.
But I give the expression a new spin by suggesting greed was the real issue wrapped in the economy that had a major influence on the US election.
Many Americans believe their financial well-being is deteriorating due to rising costs in everyday expenses, from groceries to housing.
But a question arises: is the U.S. economy truly as dire as it seems? Are prices for essentials like food, fuel, and housing genuinely beyond reach for the average American, or is there more to the story?
In global comparison, American goods and services remain relatively affordable. When Canadians routinely cross the border for cheaper milk, gas, and groceries, it’s a sign that the cost of living in the U.S. still holds a competitive edge. In fact, many affluent nations face similar or steeper prices for essential goods and services, and yet, the U.S. economy is often perceived as failing its citizens.
So, what’s fueling this widespread pessimism?
Part of it may be rooted in a cultural expectation for perpetual prosperity and consumer abundance. Even with modest incomes, Americans are accustomed to having it all—travel, entertainment, dining out, and recreational shopping. When these luxuries feel slightly out of reach, there’s a quick shift to blaming the economy.
But perhaps it’s not the economy that’s ailing; it’s the deep-rooted culture of consumerism shaping perceptions. Americans have come to expect an ever-upward trajectory in lifestyle and spending. When minor economic adjustments make indulgent habits less accessible, dissatisfaction sets in, and a sense of deprivation follows.
Ironically, this expectation keeps the “bad economy” narrative alive, even if most essentials remain affordable by international standards.
The real issue may not be inflation or the price index but rather an ingrained habit of excess and entitlement at every level of society.
The American psyche is tied to a version of economic prosperity where shopping sprees, vacations, and lavish entertainment are the norm.
As long as this consumer-driven ideal dominates, Americans may continue to feel economically pinched—not because of a crisis but because of a cultural expectation that more is always within reach. In other words, greed was one of the issues that dominated the US election.
Promod Puri.com 