437 sats \ 1 reply \ @mf 9 Nov 2023 \ on: The problem isn’t inflation. It’s prices. bitcoin
Looking at credit card debt for example, you can immediatlly explain how not more people are not going completely broke. And then there's all the foreign "ventures" that pump the gdp numbers fairly easy...
Point is, statistic numbers can be picked apart to support nearly any narrative one wants to push. The fact is, there are more than a million variables that no single centralized entity can ever diggest.
I'd love to see a survey of middle class people asking them if they have had a raise in the last 12 months. If they have how much was it?
On the one hand the Fed is trying to slow the economy down to slow price inflation (or inflation as they call it) and on the other hand Biden's crew want us to believe the economy is doing great. Amazing in fact. It is fascinating to watch. I recall talking to co-workers back in 2020 when the shutdowns and money printing started that it would take years for this to work itself out. I think I underestimated it.
reply