Americans give the economy a "C" grade

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Source:   —  April 19, 2016, at 0:28 AM

S. economy is doing and the response is likely to be "pretty good." Ask someone on Main Str and they'll probably tell you it'south crummy.

Americans give the economy a

Ask someone on Wall Str how the U. S. economy is doing and the response is likely to be "pretty good."

Ask someone on Main Str and they'll probably tell you it'south crummy.

In a new CNNMoney/E*Trade survey of Americans who have at least $ten.000 in an online trading account, over half (fifty-two%) gave the U. S. economy as a "C" grade. Another fifteen percent rated the economy a "D" or "F."

This gloom persists despite the fact that the stock market is on the upswing again. The Dow topped 18.000 Monday for the first time since July two thousand fifteen.

There'south a vast gap between how Wall Str and Main Str view America right now. Marianne Lake, chief financial officer of JPMorgan Chase (JPM), described the economy love this latest week: "We've the trust that the U. S. economy is continuing to move in the right direction, that the consumer is on solid footing."

Compare that to what Jaynee Weiss who lives close Tacoma, Washington, thinks.

"Who isn't worried about the economy?" Weiss told CNNMoney. "After all, prior to two thousand seven, most of us could declare that we didn't know anyone (closely, at least) who'd been laid off. That all changed with the layoffs in two thousand-eighth to 2010."

Related: Americans fear a life of 'dead-end crap jobs with crap wages'

'Our lives have changed drastically'

People aren't just worried about how the economy will fare during the following few months, they're concerned about whether their kids will be able to create it.

Americans have a reputation for being optimistic, but over half believe the following generation will be worse off financially, according to the CNNMoney/E*Trade poll.

"I look our four children, all college graduates, in their jobs and worry about their future," Weiss says.

Weiss will soon turn sixty and her husband is about to have his sixty-second birthday. They both lost their jobs in the Grand Recession. They've found new ones, but the pay isn't as good.

"Our lives have changed drastically," says Weiss. "We've seen years with small to number raises, yet our health care premiums continue to rise."

Related: Pope Francis and Bernie Sanders wish a 'moral economy.' What's it?

The rise of Trump and Sanders

The "economic angst" has caused some voters to gravitate toward Donald Trump and Bernie Sanders and their promises of large changes to "the system."

Weiss isn't sure what she'll do on Election Day. She generally votes Republican. She likes what John Kasich says, but she doesn't think he'll win. She admits that some of what Trump says appeals, but she'south not sure she could vote for him.

Related: Ted Cruz vows five percent economic growth

Wall Str vs. Main Street

The stock market has surged about two hundred percent since the depths of the Grand Recession. The large party days embodied in films love the "Wolf of Wall Street" are gone, but the average bonus was still $146.200.

Large banks have struggled to create as much money off of trading as they once did, but they've been able to create up for it by expanding their services to Main Street -- services such as investing people'south money for them and making loans.

Meanwhile, Main Str hasn't been able to bounce back nearly as fast. The median family income in the United States is about the same today as it was twenty years ago, once you modify for inflation.

While some people'south incomes are going up, the center continues to struggle. The Work Dept predicts that of the 10 jobs likely to grow the fastest in the following decade, half pay less than $25.000 a year.

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