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.
Via this site.