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Claiming the economy is up 3% is such a small number compared to the massive inflation we had. Inflation is hard to measure and frankly 3% over a 50%-100% infla
by giorgioz 2y ago
Claiming the economy is up 3% is such a small number compared to the massive inflation we had. Inflation is hard to measure and frankly 3% over a 50%-100% inflation seem easily an approximation mistake.
Governments constantly try to underplay a recession/inflation because if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation.
I believe we lost a lot of purchase power. I don't blame a specific Administration or someone richer.
Simply we printed a ton of money as economic stimulus during covid to balance the fact that we kept people at home.
I'm not saying it was a bad choice either. But simply now we are paying the price of saving millions of lives from covid and fighting Ukrainian invasion.
They were worth it but there is a cost we are repaying now in the form of less purchase power.
- pfannkuchen 2y ago> if people knows there is recession/high inflation the thing spirals even in a deeper recession/high inflation It’s kind of funny how this is baked into the economic orthodoxy. It’s definitely not that admitting a recession or high inflation makes the people in power look bad, no no, us not admitting it is actually good for you and you should thank us!