You might not think that the cash in your wallet becoming less valuable by the day is a good thing. Well, MSM outlets like New York Times have news for you: it is. Whether because they know inflation is a political albatross for Biden but is something they can’t do anything about in the short term or because they’re so crazy to believe it, the media figures are actually pushing the insane line that inflation is a good thing.
That line was first pushed by MSNBC’s Stephanie Ruhle, who said that inflation is a good thing because government handouts brought it about:
“Nobody knows exactly when they’re going down, but you have to put all this in perspective. This inflation is not in isolation, and the government predicted it was going to be a challenging recovery, recovery all tied to Covid. So it’s why you see things like that expanded child tax credit. You’ve got the families of over 60 million kids, on average, getting $430 a month. For people on fixed incomes, older people on social security, they’re getting those fixed payments adjusted next year up 5.9% for inflation.
And the dirty little secret here, while nobody likes to pay more, on average we have the money to do so. Household savings hit a record high over the pandemic. We didn’t really have anywhere to go out and spend. And as we said a moment ago, we’re expecting retail sales this holiday season to break records. For those who own their homes, the value of our homes are up. While the stock market isn’t the economy, you have over half of American households with some investment in the markets and they hit market highs.
So we need to put all of this in perspective. This time last year when you and I were talking nobody had a vaccine. Now 200 million Americans do, and we’re seeing this push of demand and that’s pushing up pricing.”
It was quickly pushed again by New York Times contributor Sarah Jeong, who put a class spin on inflation and tweeted back in November that:
“All the stuff you see about inflation in the news is driven by rich people flipping their shit because their parasitic assets aren’t doing as well as they’d like and they’re scared that unemployment benefits + stimmy checks + 15 minimum wage + labor shortage is why”
Around the same time, a radical leftist group put out a video explaining why inflation is a good thing:
REMINDER: Inflation is always complicated, often harmless, and sometimes even a good thing! But don’t take it from us — here’s @Rakeen_Mabud, @AnnePriceICCED, and @Jhumpa_B debunking some of the GOP’s inflation disinformation: pic.twitter.com/SQvr7MdbWX
— Invest in America (@InvestNowUSA) November 10, 2021
Then, a bit later in November, NYT columnist David Brooks said:
“I want a white-hot economy that will raise wages at the bottom, which is happening, that will bring people back into the labor force, which is happening, which is spreading wealth around the country, not concentrating it in a few cities, which is happening. The cost of that is that, since we can’t really fine-tune an economy, we’re probably overheating. And we’re getting inflation.
And the question — the crucial question becomes, what kind of inflation? Is it post-COVID inflation, we’ve got a lot of supply chain problems and it’ll get ironed out in a year, or is it 1970s inflation, which builds on itself? And so, I have high tolerance for inflation in this kind of economy. Because I think we need it as a society to heal. But if it turns out to be accelerating 1970s inflation, that becomes its own monster.”
But the lie didn’t end there. It continued into the new year, with CNN Business publishing an op-ed last updated on January 10, 2022, in which the author makes the claim that:
No one likes paying more for stuff. That’s why inflation, especially the sharp price increases we’ve seen in recent months, feels like a dirty word.
But on the whole, inflation can actually be a good thing for many working-class Americans, especially those with fixed-rate debt like a 30-year mortgage. That’s because wages are going up, which not only empowers workers but also gives them more money to pay down debt. Plus, in the case of a mortgage, your monthly payment will be the same but your house will increase in value.
And many of the people taking a bath when prices rise are higher-net worth people who hold the vast majority of government bonds.
Fortunately, the pro-inflation push seems to be fading as Americans feel the pain of rising prices. But, unfortunately, the argument is still out there and leftists are still using it as a way to defend Brandon and his high-inflation presidency.
Another good sign is that Americans don’t buy the pro-inflation argument. Rather, they’re worried about it. As Fox News reported of a poll in 2021:
Most (86 percent) are concerned about inflation — and they see lots of reasons for it. Eighty-six percent think the pandemic is responsible for rising prices, while 79 percent blame the government’s economic policies, and 72 percent point to the regular ups and downs of the economy.
Americans, rich, poor, or otherwise, don’t buy the left’s arguments about inflation; rather, they’re worried about it and want stable prices.