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That will make people feel poorer, causing them to cut their spending.
Mr Varian notes that when stock prices are low people feel poorer and vote for Democrats.
In this recession, the slump in housing prices made many people feel poorer.
"It's not just that it makes most individual citizens feel poorer rather than richer.
Soaring oil prices have pinched consumers, making people feel poorer and causing a slowdown in retail sales.
Above-target inflation, tolerated in exchange for low interest rates, makes these workers feel poorer every year.So ministers tinker.
Similar(19)
I feel poor already.
"They all feel poor".
Do you feel poor?
But Italians will continue to feel poor.
I didn't feel poor at all.
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