Media, Biden admin called out for 'amazing strategy' of claiming Americans don't understand economy

[mystery-ak]

 Published May 31, 2024 7:00am EDT
Media, Biden admin called out for 'amazing strategy' of claiming Americans don't understand economy
MSNBC host says Americans are 'confused' about their economic situations

Journalist, author and podcaster Matt Taibbi told "The Brian Kilmeade Show" Thursday that the mainstream media and the Biden administration are not "in touch" with ordinary people. Taibbi said Democrats are trying to convince Americans that their views on the economy and inflation are "not rational."

MATT TAIBBI: It's a very strange thing. It kind of reminds me. There was an old Joseph Heller play where a general said, 'well, we're going to bomb Constantinople off the map.' And somebody suggests, 'well, why don't we just bomb the map?' And that's what they're doing. They're just trying to bomb the map. They're trying to tell people that, look, the statistics say you have a good economy and what you feel or what you perceive when you go to the store is not rational. So when you buy a $4.50 chocolate chip cookie, and you have a reaction to that, that it seems a little high. You're being irrational. They tell you, and it's gone beyond saying people are being irrational or partisan in their political choices. They're saying that their own perceptions of the economy are incorrect, which is kind of an amazing thing for the press to do.

... One thing I know from talking to people who've worked in White Houses or for staffs for senators, is that most politicians don't understand even basic economics very well. So it's entirely possible that Joe Biden may not realize that when the Fed adds $5.5 trillion to its balance sheet, that this will inevitably have an inflationary effect on the economy, and that when his aides tell him that by telling retailers to lower prices, he's fixed the problem, and that he doesn't understand that the public is looking at 20 years of policies that are clearly inflationary, and they're dealing with trying to pay the bills, and it's different for them. I just think that most politicians don't really, they're not really in touch with what ordinary people are going through. ... I think they may not realize that that's actually what's happening because these folks live in little archipelagos of wealth in Georgetown and the Hamptons, and they don't know what ordinary people are dealing with.

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https://www.foxbusiness.com/media/medias-amazing-strategy-claims-voters-dont-understand-economy-matt-taibbi

[LMAO]

From the article..,,

One thing I know from talking to people who've worked in White Houses or for staffs for senators, is that most politicians don't understand even basic economics very well. So it's entirely possible that Joe Biden may not realize that when the Fed adds $5.5 trillion to its balance sheet, that this will inevitably have an inflationary effect on the economy

There is probably very few people in Washington that realize it

There were many of us over warning as early as March and April 2020 that printing trillions of dollars to pay people to stay home will lead  to inflation, but it fell on deaf ears


And this will not stop until there are enough elected who are not only more knowledgeable about basic economics, but have the intestinal fortitude to stop this