NY Times columnist Paul Krugman argued this weekend that inflation does not really hurt poor people:
"Inflation especially hurts the poor" has truthiness — it sounds like it should be true. But I don't see either evidence or a mechanism 4/
— Paul Krugman (@paulkrugman) December 11, 2021
Um, WHAT?
What!? https://t.co/McOBCnjYDP
— Matt Vespa (@mVespa1) December 12, 2021
Maybe take a trip away from New York City’s East Side, ‘eh?
Holy fugging shit. Gas and groceries. I am really blown away by this. https://t.co/RqhQNv3bX8
— Breaking News Jack. (@jackmeridan) December 12, 2021
Yep:
Imagine being a Nobel Prize-winning economist and having to pretend like you honestly believe poor people have as much disposable income as rich people because the people who fund your paychecks will not brook any criticism of Joe Biden. https://t.co/CV6lkrSjB8
— Arthur Boreman Once Held His Breath for 30 Seconds (@ArthurBoreman) December 12, 2021
But not to be outdone, here’s Bloomberg @Business telling people just “spend your paycheck right away” to beat inflation:
Some of the advice on how to cope with rising inflation includes: Spend your paycheck right away https://t.co/7iWXqA0Pl2
— Bloomberg (@business) December 12, 2021
Literally. They’re literally sharing tips from Argentina. That’s where we are right now:
Inflation tips from Argentina.
We have now officially reached the shark jumping moment of inflation news reporting… https://t.co/QkwjaQDZlX
— Tony Fratto (@TonyFratto) December 12, 2021
Recommended
What a clown show:
Comparing Argentinian inflation to ours is almost as laughable as this spending “tip” https://t.co/BxnxnhfRXV
— Wu-Tang Financial 🥑 (@Wu_Tang_Finance) December 12, 2021
This is where that advice takes you in the U.S.:
“You will own nothing and you will be happy” https://t.co/USdiv5zdQ0
— Carol Roth (@caroljsroth) December 12, 2021
“Where would we be without MSM advice?”:
Brilliant!
Toss away your money before it can devalue further!
Where would we be without MSM advice? https://t.co/eGfS0JgsYp
— Cory Morgan (@CoryBMorgan) December 12, 2021
We’re so screwed:
https://t.co/nEQ6VSsaGr pic.twitter.com/zB3dGz3Z6M
— David Hobby (@strobist) December 12, 2021
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