Hey, America. Are you feeling the pinch in your wallet because of grocery prices? Are you having trouble paying your utility bills? Did you notice the gigantic spike in gas prices the last week or so? Well, fear not. Professional elitist and scold Paul Krugman is here to tell you that ... it’s your fault for not realizing how wonderful things are.
Over the past couple of days I've had several conversations with smart people who follow the news — and had no idea that inflation is way down. Presumably hasn't broken through at all to the wider public.— Paul Krugman (@paulkrugman) September 7, 2023
See? Inflation is down, you plebeians. If you were as brilliant and informed as a Nobel Prize winner, you would know that and stop complaining. Except no, not really.
Way down.....— Shay Cormac (@SPCORMAC_1) September 8, 2023
Meaning it's not going up as quickly as it was, but it is still increasing.
Inflation was 3% higher in July 2023 than it was in 2022.
And it was 9% higher in 2022 than it was in 2021.
What cost $1 in 2021 costs $1.13 today.
Do you think that's good?
Oh, come on, Paul.— Tom Knighton (@TheTomKnighton) September 8, 2023
You know good and well that all that's dropped is the rate of inflation's increase, which means inflation is still increasing.
But you won't acknowledge that, will you? https://t.co/UXNTZxQEcU
A lower rate of inflation increase is not the same as 'inflation is down.' In fairness, yes, there is a difference between inflation and prices:
As you know, many incorrectly associate “inflation is down” with PRICES are down. No, that would be deflation. Inflation being down simply means the rate of INCREASE is slowing, but prices are still increasing.— stevemur (@stevemur) September 8, 2023
Put another way, this is the Consumer Price Index.— stevemur (@stevemur) September 8, 2023
Notice that it's not declining. The rate of growth has slowed somewhat (i.e., inflation has declined), but not enough for people to feel it. pic.twitter.com/c0Gsq523EV
But somehow, we don’t think this comes as much consolation to people who have to pay for things like gas, food, and power. Luckily for him, Krugman is not one of those poors. But plenty wanted to let Krugman know just what they thought of his proclamation.
I loathe these people.— Holly Thornton 🇺🇸 (@beachmamax2) September 9, 2023
They have ZERO empathy for Americans who are struggling, & they legit don’t understand why we aren’t buying the lies about how much better things are supposed to be.
It’s not “broken through” Paul, because we go to the grocery store & gas station. https://t.co/wZfTdiz7vK
I know a way you can find out if it has…— Montana Department of Organic Flammability (@MontanaDOOF) September 8, 2023
TALK TO NORMAL PEOPLE, PAUL! https://t.co/Xl38go9vL9
Talk to the smelly littles? No. Paul will not be doing that anytime soon.
It makes sense now. Paul Krugman said the economy was going to be great three years ago. Therefore, the economy is great. There is no other possible conclusion because in Paul Krugman’s mind, Paul Krugman can do no wrong. If he were a doctor, he’d be Christopher Guest in ‘A Few Good Men.’
Struggling families: "Wow, we can barely afford to get food on the table and we might lose the house. Things are awful."— BTC Sessions 😎 (@BTCsessions) September 8, 2023
Paul: "Didn't you guys hear? Prices are going up LESS fast now! You should be happy!" pic.twitter.com/TVRSf2E5BV
I am so glad that my brain tumor stopped growing so fast.— STR𝕏WM𝕏N (@strxwmxn) September 8, 2023
Yikes. We know that user is kidding, but it’s a pretty good way to drive the point home. There were many, many more people telling Krugman where he could stuff his snobbery, but one user summed up perfectly how everyone should view anything that Krugman smugly declares:
You have never gotten one thing right your entire career. Geez— Heidi (@HeidiL_RN) September 8, 2023
Say, that’s a good point. Why is Krugman putting his thoughts out on this Internet fad thingy anyway? Shouldn’t you be talking down to everyone via a fax machine, Paul?