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
Unless it’s a Democrat in the White House. Then it’s totally fine! What do you mean you can’t afford food?!! The economy has never been better!!
/s
Democrat in office: “Who cares you can’t buy food and pay rent? Many people live paycheck to paycheck! The stocks are up, who cares what the plebs have?”
Republicans in office: “I don’t give two shits about you, the stock must go up.”
Almost like they have the same goals of “line must go up”. It is baffling how people can ignore various national issues because of the economic system the government props up when their favorite group is in office.
Propaganda and wedge issues are super effective in a population of adults that peaked in the 8th grade.
Oh I know, decades of propaganda and teaching people that ignorance is strength has worked wonders for the fascists.