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If America Is “Winning,” Why Does the Economy Feel Like This? (with Talmon Joseph Smith)

Pitchfork Economics with Nick Hanauer

Dec 23, 2025

40 min

Description

America has never been wealthier—so why does it feel so hard to get by?  New York Times economics reporter Talmon Joseph Smith joins Nick and Goldy this week to unpack the growing gap between economic headlines and the lived reality of most Americans. With nearly $200 trillion in national w...

America has never been wealthier—so why does it feel so hard to get by?

New York Times economics reporter Talmon Joseph Smith joins Nick and Goldy this week to unpack the growing gap between economic headlines and the lived reality of most Americans. With nearly $200 trillion in national wealth and half the country holding just a sliver of it, they explore why GDP and aggregate growth keep telling a story working families don’t recognize—and what that disconnect means for our economy and our politics.

Talmon Joseph Smith is an economics reporter currently covering labor markets, inequality, and political economy. His recent work at The New York Times has focused on the tension between headline economic indicators and lived economic reality. His forthcoming book, Clout and Capital, examines how power, influence, and wealth shape economic outcomes in America.

Social Media:

@talsmith.bsky.social

@talmonsmith

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