@steverattner.bsky.social
Former head of Obama Auto Task Force. Wall Street financier. Contributing Writer to NY Times Op-Ed. Morning Joe Economic Analyst. 🌐
@steverattner.bsky.socialOne in five American families fell behind on a loan or mortgage payment in the past year — up from one in eight in 2022 and the highest since 2007.
@steverattner.bsky.socialSun Belt cities are building housing roughly three times as fast as blue state metropolises.
@steverattner.bsky.socialThe economic and political mood this year is similar to 2006, but Democrats have fewer swing districts to compete in.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialConsumer sentiment is at 48, the fourth-lowest reading since 1952.
It was almost double that at this point in Bush’s second term and didn’t even fall this low during the 2008 financial crisis.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialGas is still quite expensive at $4.35 a gallon ahead of the midterms. That's worse than the inflation-adjusted price in 2006 when the Democrats won the House and the Senate from Bush's GOP.
@steverattner.bsky.socialTrump’s approval rating is 37%, almost exactly where Bush was before the 2006 midterms, which his party lost badly.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialInflation, mortgage rates, and hiring are all worse today than in October 2006.
Only unemployment and economic growth are roughly the same.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialReal wage growth is stagnant over the past year.
In 2006, it was rising 2.5% annually by election day.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialGas prices fell 25% in the three months before the 2006 midterms.
They’re rising heading into this round: $4.46 a gallon, up from $2.88 in January.
My @morningjoe-msnow.bsky.social Chart
@steverattner.bsky.socialSince Trump took office, the personal saving rate has fallen from 5.7% to 4.1%, the lowest since 2022. With tariffs pushing up prices and real wages falling since the Iran War, families are dipping into savings to keep up.
@steverattner.bsky.socialCorporate profits and tax revenues grew together until the Trump tax cuts. Now corporate profits are at an all-time high while tax receipts are at their lowest since 2021.
@steverattner.bsky.socialThe top 0.1% of Americans now hold more than six times more wealth than the bottom half.
@steverattner.bsky.socialThe trade deficit last month was $36 billion larger than the Biden average. Trump's tariffs have failed.
@steverattner.bsky.socialTake A.I. and chip stocks out of the index and the market is down 5.7% since late August. The S&P 500 is up 2.4% over the same stretch, chip stocks 16%. A.I. is holding the whole market up.
@steverattner.bsky.socialHealth care is driving almost all job creation under President Trump.
@steverattner.bsky.socialReal wage growth was negative for the fifth month in a row in August.
@steverattner.bsky.socialThe 30-year Treasury is near 5.7%, the highest since 2002. Mortgages are back above 7%. The Fed controls short-term rates. The market sets long-term rates, and that market is getting pretty scary.
@steverattner.bsky.socialWages are at all-time lows, and profits at historic highs, as a percent of GDP.
The backlash against A.I. is a backlash against unchecked inequality.
My @nytopinion.nytimes.com Chart:
@steverattner.bsky.socialMost Americans used to work on farms, but over the last century, we lost 9 million agricultural jobs.
At the same time, we gained millions more in new fields, thanks to increased productivity.
My @nytopinion.nytimes.com Chart: www.nytimes.com/2026/10/02/o...
@steverattner.bsky.socialLand-grant colleges and the New Deal helped Americans move from farms to new jobs in the city.
Workers hit by the China shock got far less help.
A.I. is next. Government has to make sure it lifts all boats.
My @nytopinion.nytimes.com op-ed: www.nytimes.com/2026/10/02/o...