The US economy is performing amazingly well, but as Bloomberg's Matthew Winkler notes, the public overall doesn't realize that. Why?
He alludes to the key reason for the public's lack of understanding, but doesn't make clear what it is, so allow me to be clear that "media narrative" doesn't explain who's primarily at fault.
The culprit is Big Journalism, again utterly failing to do its job.
I recently listed over a dozen Republican billionaire donors talk up "recession" in the business news.
They're orchestrating a recession, not guarding against one.
As do all economists.
Economics is a social science. People are more to do with it than the money.
Money likes to be moved This is what increases its value.
Economists like to get people to hoard money. They will encourage this by any means necessary.
@canusfeminacanis @Npars01 @dangillmor my experience of working with economists is that for a long time they assumed people were predictable and mostly greedy.
But actually since 2007/08 they have been cautious and frightened…they see that prices hardly ever come down after being hiked by inflation, they see their wages stagnate while CEOs and shareholders demand ever larger dividends. The wealth gap has never been larger.
What do economists have to say about this?
@JugglingWithEggs @Npars01 @dangillmor
"Let's raise our consultation fees"?
The clever economists would recognize that the lower income folk spend money more readily than the wealthy, often because they have no choice.
This has now developed into a problem of profiteering, as major corporations take larger slices of the pie, falsely creating shortages and leaving average people to get screwed.
@canusfeminacanis @JugglingWithEggs @dangillmor
Markets can be spooked into a "recession" by the public pronouncements of Republican billionaire donors.
Sam Zell is a real estate tycoon, not a qualified economist.
Republican donors want to have a recession for 2024.
@Npars01 @JugglingWithEggs @dangillmor
I have... issues with anyone in real estate. They've created a land-based ( as opposed to financial) recession, into which the greedy have plunged head first.
Of course the GOP want a recession for 2024. They pull this shit about every 15 years or so, when they can't get elected honestly.
Dan Gillmor
Nicole Parsons
canusfeminacanis
Juggling With Eggs