Paul Krugman is a Nobel Prize winner in economics, so you know he’s all about the data. He also said we should ignore the two-quarter rule when declaring a recession and agreed that inflation is nothing to worry about in the long term.
Krugman also goes to the supermarket just like the rest of us, and he overheard a fascinating conversation at the meat counter that he wanted to share.
Conversation overheard at supermarket meat counter:
Customer:"Meat just keeps getting more expensive"
Butcher: "Actually, prices have been coming down"
— Paul Krugman (@paulkrugman) August 6, 2022
Ackshually …
That’s some Nobel Prize-worthy analysis pic.twitter.com/83jgG2NWhy
— Quoth the Raven (@QTRResearch) August 6, 2022
Economic analysis from Sam the butcher.https://t.co/pyJDqPCsOH pic.twitter.com/PK0lZHvio5
— Maul Of America (@MaulofAmerica) August 6, 2022
Only people who don’t do their own grocery shopping would believe this story. https://t.co/75GPynKHcn
— Arthur Boreman Once Held His Breath for 30 Seconds (@ArthurBoreman) August 6, 2022
Sure.
— David Harsanyi (@davidharsanyi) August 6, 2022
https://twitter.com/JayCaruso/status/1556035251192958976
https://twitter.com/JayCaruso/status/1556035253348827138
https://twitter.com/JayCaruso/status/1556035561105793026
https://twitter.com/JayCaruso/status/1556035830975692800
And they're both right, except the butcher is comparing with prices a couple of weeks ago, and the customer is referencing prices a few months ago.
This really shouldn't be hard for you to grasp. If you gave a damn about the suffering of average people, I'm sure you could do it.
— Heywood Floyd (@HeywoodFloyd10) August 6, 2022
Customer: “And what’s that really long queue of people for over there?”
Butcher: “Oh that’s the bread line.”
— Paul Zauch (@PaulZauch) August 6, 2022
You've never been in a supermarket with us dirty commoners in your life.
— Brian Guy (@ItsThatBriGuy) August 6, 2022
— Aldous Huxley's Ghost™ (@AF632) August 6, 2022
https://twitter.com/hereonmars_/status/1555998203195047936
I know disposable income just keeps growing in our household. pic.twitter.com/7JVOoEfTRE
— Mad Scientist Dorn (@MadSciDorn) August 6, 2022
https://twitter.com/dubyabee17/status/1555939567173345280
This is the kind of anecdotal evidence that gets you hired by the New York Times and propped up as an economics expert.
— Larry (@LongBaIILarry) August 6, 2022
As CNN’s Brian Stelter tried to tell us, if people think the economy is terrible, it’s because the media has failed in its job. Things are actually great, but the mainstream media is withholding that information for some reason.
Related:
Paul Krugman fires back at those mocking 2020 prediction by making the ‘Biden Boom’ even MORE boomy https://t.co/8HIzCZliQn
— Twitchy Team (@TwitchyTeam) August 1, 2022
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