The Funniest Memes About Donald Trump's Impending Doll Shortage
gizmodo.com
President Trump said, "Maybe the children will have two dolls instead of 30 dolls."

I swear I had Econ in college, but I don’t remember anyone saying this so succinctly. It’s from a weird place too, but this quote hits home. It’s like population decline, but for money.

It was a truly baffling thing for an American president to say. And University of Michigan economist Justin Wolfers explained on MSNBC that things could get very bad as Trump’s scheme becomes reality. Wolfers ntoed that the idea of how much you can afford to buy with your income is called “real income.” And if real income falls, that’s called a recession. Wolfers went on to explain that if things decline as badly as Trump’s example, where someone who bought 30 dolls could only afford to buy two dolls, that’s called a depression.

Video from MSNBC: https://www.youtube.com/watch?v=sAZxLm6M_V0

  • pelespirit@sh.itjust.worksOPEnglish
    1·
    20 hours ago

    Thanks for taking the time to respond. IMO, economics has some easy concepts that are hidden behind terms. Every industry has it, but all this info is kind of hidden anyway for a noob like me.

    • frezik@midwest.socialEnglish
      1·
      20 hours ago

      Is every 101 college class really just “here’s what all the terms mean in this field”? I suspect the answer is yes.

      • pelespirit@sh.itjust.worksOPEnglish
        1·
        20 hours ago

        Mine wasn’t, it was a university known for being one of the best for economics and had huge classes. I did not do well in that class. It was an advanced 101 class.