The Left not knowing how economics works is not exactly a big secret. By and large, they often prove that they don’t know anything of how it works and no amount of economics degrees or awards will disprove that. So it shouldn’t come as much of a surprise to see an MSNBC host making an exceedingly stupid comment regarding the economy.
During a segment on her show, Stephanie Ruhle made the following comment: “The dirty little secret here, Willie, while nobody likes to pay more, on average we have the money to do so. Household savings hit a record high over the pandemic. While the stock market isn’t the economy, you have over half of American households with some investment in the markets and the markets have hit record highs.”
In essence, she’s saying that it’s okay that you have to pay more for your food because you have the money to afford it… completely ignoring just what inflation does to money.
While we are FAR from Venezuela’s, The Weimar Republic’s, and other socialist countries’ inflation rates, the fact is that your dollar is worth less now than it was a year ago, which is why you see higher prices on store shelves (and other problems abound, such as a supply-chain problem).
So sure, people can usually afford to still pay for some things, but the “dirty little secret” about inflation, which really isn’t a secret at all, is that it leads people to be more conservative with their money. With their money being worth a bit less, they will want to save more, so they forego buying things which they don’t think are all too necessary for them at the moment.
Which can even make things worse because if fewer things are being bought, the retailers and producers need to make up the difference somewhere, so they either hike up prices even more or cut costs wherever they see fit, either in quality of product, quantity of product or lay-offs, of which there were plenty because of Leftist jackasses insisting that only SOME people’s jobs were “essential.”
Comments like the ones by Ruhle not only show the utter ignorance of the Left, but their unabashed bias. In essence, she is minimizing inflation because we all know on whom the responsibility lies. And with Brandon’s administration already well underwater because of recent events (including the inflation these deceivers are trying to minimize and even claim is a GOOD THING in some cases), the fake news media can’t afford to report on the bad things happening with any semblance of objectivity because the objective reality is that Biden is awful.
And the arguments made by Ruhle as to why the economy is *akshually* doing great are idiotic.
Household savings increased because EVERYTHING WAS SHUT DOWN. Not to mention that it’s odd she would argue that the economy is doing well with household savings from last year as a metric because Trump was still in the White House last year. If she’s trying to say that the economy during the pandemic has been good based on a metric from last year, she’s conveniently forgetting that she can’t credit the Brandon administration for that one in particular.
Secondly, the market was just about the only other place many Americans could receive income from, you know, because ghouls like YOU, Steph, insisted that people NEEDED to lose their jobs “for the common good” in keeping people “safe” from the virus. Oddly, more people have reportedly died from that same virus this year than last year, but your guy is in office, so there’s no need to talk about it anymore, apparently.
Lastly, markets hitting record highs has NOTHING to do with the Brandon administration. If anything, they are hitting record highs IN SPITE of him and his goons.
The market made a quick recovery in 2020. For it to continue to go up is due to a number of reasons (among which being multiple states and countries opening back up), absolutely NONE of which include the fact that the illegitimate child predator is occupying the Oval Office.
The idea that it’s okay that there are higher prices for things because “people can afford them” is emblematic of the following meme structure: Tell me you don’t know how inflation works without telling me you don’t know how inflation works.
Inflation means that your currency becomes less valuable. In a previous article, I talked about how cash was literally disappearing from Venezuela.
In that article, I mentioned that there were long lines being formed outside of banks in Caracas, hoping to withdraw the maximum limit of 400,000 bolivars. An idiot Leftist might think that that’s great and that means that just about everyone in Venezuela is a millionaire or billionaire (another thing which I have previously talked about), but in reality, 400,000 bolivars is worth around 20 cents (though maybe a bit more, with our inflation being worse now than back then).
With bolivars being as worthless as they are, people turned to using them to make handbags to sell outside the country. Bolivars are so worthless, they are worth more as the fabric that they are made from than as the currency it’s meant to represent.
This is with hyperinflation rates never before seen in the U.S., but that’s beside the point. The point is that with inflation, your money becomes less valuable. So the idea that “people can still afford to buy more expensive stuff” is not only asinine, it’s outright ironic. If it gets bad enough, you can get to the point where you’re spending a good bit of your money on basic things.
In the other article I brought up earlier, I mentioned that in order to purchase a little more than half a pound of the cheapest ham and cheese one could find, one would have to pay over 600,000 bolivars.
“But if 400,000 bolivars is roughly 20 cents, then 600,000 bolivars can hardly be much more, probably not even a dollar,” the Leftist might argue. Maybe, but that’s irrelevant because I also mentioned in that article that 600,000 bolivars is three-fourths of someone’s monthly salary at minimum wage.
With all the talk from the Left about how minimum wage isn’t a “livable wage” in the States, imagine how much less livable it is in a country where someone can barely afford the cheapest ham and cheese with a whole month’s worth of salary (and this is discounting all the other expenses they would have to make).
With such worthless currency, they would naturally have to seriously consider foregoing buying ham and cheese (and in most cases, actually do so). They might see it as luxury food.
And that’s why Ruhle’s comment is so idiotic. Anyone who is remotely knowledgeable of economics and inflation could tell you that it’s not good to have high inflation or hyperinflation. Again, we are far from the economic state that Venezuela is in, but there are people in the States who do have to adjust what they have to buy and how much of it. This impacts them negatively, and telling them that it’s not a very big deal or that they should just suck it up because “you can afford it” is ignorant, belligerent and short-sighted.
Not everyone is as rich as you, Steph. So it’s definitely not true that the “dirty little secret” is that people can afford higher prices. For many, they literally can’t. Not if they want to pay for other things which they might consider of higher importance.
And this is why so many people can’t stand the fake news media. It’s not just that they lie to people, they HATE the people they are lying to and see nothing wrong with them suffering economically. At least, not if they suffer economically during a Democrat administration. They destroyed Bush because of the recession (not that he had nothing to do with it) and tried to do the same with Trump during the pandemic mini-recession.
Now that their boy is in power, however, the economic trainwreck he’s causing will not only be minimized, it will be PROMOTED as something good in some cases. At best, they just decide to utterly ignore it or shift the blame.
They are annoying liars and a pest to this country.
“’There is no peace,’ says the Lord, ‘for the wicked.’”
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