Economist Justin Wolfers explains why crypto bros want inflation rates to doom the economy. Trump in 2024 Will Be Worse Than Trump in 2020 Says Sarah Longwell, Co-Founder Of Americas Voice
Despite Halloween having passed, Americans have been spooked by another word these days: inflation. Rates have gone up more than they have in 30 years, and right before the holidays to boot. Is it a legitimate concern?
Molly Jong-Fast, host of The New Abnormal, wants to know what Justin Wolfers, an economist at the University of Michigan and contributor to the New York Times, thinks about this.
And according to him, it’s complicated.
He doesn’t seem to be concerned – he thinks that in two years’ time we will look back on this discussion and think. That was just a big waste of time, he beliefs – but the solution is specific to the pandemic.
He suggests that one of the most important things we can do is to immunize the global economy. He commented that when people talk about inflation, they talk about supply chain pressures, and no one really understands what that means.
“However, one thing that’s actually happening is manufacturing factories in Asia and manufacturing in other lower-income countries. They get a couple of COVID cases and they just shut down,” Wolfers explains.
He also states that that was where we run into problems, along with anti-vaccine sentiments on the right. Also, a number of groups want President Biden’s government to fail no matter what. Conservatives and crypto bros in particular.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
