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Episode 31: Behavioral Finance Explains: Why Americans Misunderstand the Economy
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Behavioral Finance Explains: Why Americans Misunderstand the Economy
In this episode of the Bryan Foltice Behavioral Finance Podcast, Dr. Bryan Foltice discusses a U.S. survey revealing widespread economic misconceptions among Americans. Key findings show that many Americans believe the economy is shrinking, the stock market is down, and unemployment is at a high, contrary to actual data showing economic growth, stock market highs, and low unemployment rates.
Foltice explores the reasons behind these misconceptions, including a lack of stock market participation and the impact of confirmation bias, and emphasizes the potential political motivations behind misinformation. He also raises concerns about future economic and real estate market stability given the high percentage of people living paycheck to paycheck.
00:00 Introduction to the Podcast
01:27 Survey Findings on American Economic Perceptions
03:09 Disconnection Between Perception and Reality
05:45 Living Paycheck to Paycheck in America
08:29 Impact of Inflation and Interest Rates
11:09 Concerns About Unemployment and Future Recession
14:22 Conclusion and Final Thoughts
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