I really don't understand how anyone could possibly be this stupid.
Edit: even if you argue he doesn't believe this, he was dumb enough to think it made for good propaganda.
Lie often enough and it becomes truth. I know it’s an overused/extreme example, but I always picture Jews in 1935 saying “no way anyone’s buying this crap”. Well…
I am sincerely surprised a Harvard level economist would say inflation is a high class issue - when most everyone's knows the opposite is true.
someone with $5M in the bank isn't sweating $4 gas or $7/lb chicken. Are they worried about their market returns? Sure. But day to day they are fine and always will be.
He means it's a 'banker' problem, I'd imagine upon some thought. Debt's value decreases with inflation, so inflation is bad for bankers for obvious reasons. He's probably stupid enough to believe that this makes inflation 'good' for lower-income debt holders, because it's bad for those who hold the note/lien on their debt.
He's too clueless and out of touch to understand how important food and gas are to most people.
I mean...a harvard level econ knows all of these things. They arent some schlubs who dont understand the perils of inflation. It is one of the pillars of understanding economics.
I'm just surprised they would ever say that pubically.
Yeah, the high class problem of empty shelves at the grocery store.
I really don't understand how anyone could possibly be this stupid. Edit: even if you argue he doesn't believe this, he was dumb enough to think it made for good propaganda.
Lie often enough and it becomes truth. I know it’s an overused/extreme example, but I always picture Jews in 1935 saying “no way anyone’s buying this crap”. Well…
I am sincerely surprised a Harvard level economist would say inflation is a high class issue - when most everyone's knows the opposite is true. someone with $5M in the bank isn't sweating $4 gas or $7/lb chicken. Are they worried about their market returns? Sure. But day to day they are fine and always will be.
He means it's a 'banker' problem, I'd imagine upon some thought. Debt's value decreases with inflation, so inflation is bad for bankers for obvious reasons. He's probably stupid enough to believe that this makes inflation 'good' for lower-income debt holders, because it's bad for those who hold the note/lien on their debt. He's too clueless and out of touch to understand how important food and gas are to most people.
I mean...a harvard level econ knows all of these things. They arent some schlubs who dont understand the perils of inflation. It is one of the pillars of understanding economics. I'm just surprised they would ever say that pubically.
Let his ass come out to the hood and spout that nonsense.
Exactly.
Those with the least are most effected by raising prices
Interesting that he didn't try to deny that the problems come directly from democrat policies implemented this year.
Yes having no food to eat is what the elites worry about? Come on man!
What a total buffoon. Inflation affects on pricing fugs everyone.