Posted on 11/09/2021 3:45:30 AM PST by Libloather
An MSNBC opinion columnist is attempting to spin the current inflation crisis as a "good thing," calling the coronavirus pandemic an "unlikely hero" in a new piece published Monday.
**SNIP**
"Any discussion of inflation needs to include the context in which it’s happening. Historically, recessions have left Americans poorer, not better off. But the Covid recession was different," Surowiecki wrote. "As people shifting their habits drastically in response to the pandemic, they spent much less and saved more. Even though millions of Americans lost their jobs, enhanced unemployment benefits and stimulus payments left many of them better off, not worse. And the stock market, after initially falling, boomed."
Surowiecki proclaimed that Americans ended up "$13.5 trillion richer" by the end of 2020 than at the beginning of the year, acknowledging "most of the wealth" went to the wealthy but "lower-income households benefited, too."
"What all this means is that American consumers are, relatively speaking, flush, and it’s that strong demand for goods and services that is sending prices higher. But it’s taking manufacturers and food producers time to increase supply after cutting back production during the pandemic," the MSNBC columnist wrote. "When you have high demand, and relatively low supply, prices go up. The inflation we’re seeing is not, then, some mysterious affliction that’s descended on the economy. It’s the predictable product of the economy’s rapid recovery, and its costs have been offset, to a large degree, by robust wage growth and government policies."
"Providing that context, rather than just telling scary stories, is important not just because it’s accurate. It’s also important because when people see inflation as a force that’s disconnected from the underlying economy, their inflation expectations are likely to rise.
(Excerpt) Read more at foxbusiness.com ...
Connecticut restaurants are going to “market price” now for meats, as well as seafood:
The media is sleeping....maybe we should say corrupt.
Fixed income Americans are getting killed as prices for everything are skyrocketing. Not a peep and Joe is taking his long afternoon naps in the White House.
Surreal - like something out of the USSR but worse.
An MSNBC opinion columnist is attempting to spin the current inflation crisis as a “good thing,” <<<
Of course it is...just look at Zimbabwe.../s
https://www.wsj.com/video/zimbabwes-100-trillion-dollar-note-gains-in-value/E32B371E-2016-4BAC-9
These are the same idiotic people who would sell you a piece of literal sh*t while professing and asserting that the sh*t don’t stink, bet. /s
U.S. consumer debt is the highest in history. That is not a sign of economic health.
Rejoice in your $100/loaf bread. Enjoy your life in Venezuela.
To advocate for what his happening now and claiming it is good just leaves me with unspeakable rage.
"Grind the bourgeoisie between the twin millstones of taxation and inflation"
V. I. Lenin
What an idiot. It is bad enough now, but hyper inflation is coming.
Next fun unemployment is back
Being selfish i hope gas hits 5 dollars a gallon and inflation rises another 10 pct
I can afford the pain thankfully but people need to see stealing and cheating have consequences
The best way for some to learn is the hard way
But all that moolah buys less stuff, n’est-ce pas?
MSNBC columnist = Trained Dog Barks
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