– Everything is expensive here. It’s absolutely wild. A burger at most local places costs five dollars. It’s insane, says Troy Thomson about the burger at NOK 55. He and his wife Tiffany live in the town of Little Chute, Wisconsin. They think that many things have become expensive in recent years, especially groceries. – If you look at local statistics, food prices have risen sharply. Compared to two years ago, they have risen by at least 100 per cent, he says. This implies a doubling of food prices. National statistics show that food and drink have become 22 per cent more expensive in the last four years, according to figures from the Bureau of Labor Statistics. Price shocks can turn out The economy is the issue that matters most when Americans go to the polls next week, according to Gallup. And how the prices hit the wallets of Americans like the Thomsons can have a lot to say about the election result. The American number cruncher Nate Silver has on Sunday analyzed price growth and support in the surveys in the US states. Kamala Harris has been the vice president of incumbent President Jo Biden since 2020. In the states where prices have risen the most in the last four years, Harris is losing more support compared to the 2020 election that Biden won. The figures show only a correlation, and no causality, and were first discussed by commentator Henrik Heldahl in Norway. In addition to the prices of groceries, Americans are also concerned about the price of petrol. During the pandemic, the pump price rose sharply, but this year it has fallen. One liter of petrol now costs approximately NOK 9, official statistics show. But Thomson does not notice that anything has become cheaper. It costs $25 to park outside Tiffany and Troy Thomson’s house. Photo: Tove Bjørgaas / news – I have not seen any prices that have fallen, he says. During a Kamala Harris event in the city, they have therefore put up a parking sign outside the house to try to earn a little extra: 25 dollars, or 275 kroner, to park with them during the event. – I saw all the people on the other side of the street, and I assumed that people would need parking. Hopefully I can make some money from it, he says. – Purchasing power lags behind for many The American economy has been strong this year. The latest figures show unemployment is still low, and price inflation in society has fallen to more normal levels since the peak in June 2022. September also saw the first interest rate cut in four years. Throughout the year, the most important American stock market indices have also continuously set new records. Nevertheless, many Americans feel that the economy is going badly, according to Chief Economist Harald Magnus Andreassen at Sparebank 1 Markets. Chief economist Harald Magnus Andreassen at Sparebank 1 Markets. Photo: Sparebank1 Markets / CF-WESENBERG He believes there is a difference between the Democrats and the Republicans. – The Democrats have a perception of the economy that is reasonably good, while the Republicans believe that the economy today is much worse than we have ever seen in history. It is difficult to understand when we look at the numbers, says Andreassen. But Ola Grytten does not agree with that. He is a professor of economic history at the Norwegian School of Economics (NHH). Although value creation in the US is increasing, it is not a given that the citizens’ purchasing power and standard of living will do the same, he says. – It is very important to be aware of that difference. In the US, purchasing power is lagging behind for many. In both 2021 and 2022, purchasing power fell markedly, while the high interest rate is still a significant burden for many today. It is a real experience, and it has nothing to do with whether you have a correct view of the economy or not, he says. NHH professor Ola Grytten. Photo: Marit Hommedal / NTB Therefore, he believes it is wrong to suggest that the Republicans have not understood how the American economy really works. – I think that would be a bit too simple. If you ask me, I don’t see the big differences in the economic policies of Trump or Harris, he says and adds: – I’m not sure that things will get better with either Trump or Harris as president. Not yet decided The Thomson couple in Wisconsin will both vote in the election. The state is a swing state, and the polls show a dead heat between Harris and Trump. Tiffany is a big fan of Harris. For her, the right to abortion, women’s rights and human rights are central political issues. So is the husband, but he still hasn’t decided what to vote for. Last time he voted Trump. Now he wants to wait until the very end before making up his mind. – You have no idea who you are going to vote for? – No, I still don’t know which way my voice is going this time, he replies. Published 03.11.2024, at 20.36
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– Everything is expensive here. It’s wild – news Norway – Overview of news from different parts of the country
