this post was submitted on 18 Jul 2024
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This is a strange article
Most people’s understanding of “inflation” is “how much am I paying for my stuff,” not the rate of increase (economic definition.) Krugman’s actually ahead of the curve, because he points out that when you say “inflation is down,” people are likely to say “no it isn’t,” because they’re still paying higher prices for stuff because of the previous inflation. He even cottons on to the idea that people feel like they earned their increases in wages, but inflation “happened to” them, so the pain of the second isn’t offset by the first.
But then he goes off into crazy town trying to say that the Republicans were making some kind of economic argument when they said they want inflation to go back down (by the “how much am I paying” metric). My guy: They are not talking metrics. They are not talking policies. Stop taking them seriously. They are saying Trump will make eggs cheap again when he will not, and when he doesn’t, they will say “lol Dems fault” and none of the followers will care.
Stop taking them at their word about things and taking their nonsense as economic arguments.