The Washington Post reports today that "Recovery’s stumbles leave Americans confronting unfamiliar inflation risk." But if you make it down to the 12th paragraph, you learn this:
To date, the increase in inflation remains modest. Comparing current prices to those one year ago also overstates what’s actually in the economy. During the pandemic’s first months, many prices — including for hotel rooms, airplane tickets and men’s suits — collapsed. So year-over-year comparisons exaggerate the degree of change. Such distortions will become less significant over the remainder of this year.
So inflation is modest, and even at that it's exaggerated, but we're going to run a story about inflation fears anyway. wtf, people?
We're going to keep running articles on inflation until one day there really is inflation, and then won't you look stupid! It could happen anytime in the next 50 years!
Seriously, though, inflation articles are how the news media reach out to conservatives. It's probably the least toxic sop to the right wingers that they an come up with.
I think it it more than that. The WaPo CEO is Fred Ryan who was a long time top aide to Ronald Reagan, both during and after his presidency. The Post has gone big on debt/inflation fear-mongering recently, running at least 5 articles hyping that threat. One was an article by Larry Summers whose assertions are strongly disputed by top economists. The rest of the articles boiled down to “Larry Summers and some others say .........”. No mention was made of the 100+ top economists who signed a statement in support of Biden’s spending plans, of the counter argument to Summers’s claim that debt would drive up inflation, etc.
I strongly believe that what we are seeing in a strong, deep-seated bias coming from the top.
Yes, and not only from the top of the publication businesses themselves, but from the top economic and political strata of society generally, who tend to socialize with each other and -- importantly -- with (some) business reporters. And THEY worry about inflation because they are wealthy, and because inflation erodes the real value of static assets (and many investments as well), which is the basis of their wealth and influence.
In brief, rich people worry about inflation, and business reporters hang out with rich people -- or want to -- so they write about inflation.
It would be a fair assessment to say that inflation expectations are rising as designed, modestly. A rebounding economy is going to let the inflation rate take up the slack that the Federal Reserve has been giving it. With all the easing, inflation still poking along at under 2% was characteristic of a dull economy.
This is yet another example of why calling the mainstream media "liberal" is a joke. MSM is a for-profit enterprise. It's mission is to make money. Period. It operates under a code of ethics that prevents it from just making shit up like Fox or OAN, but it certainly isn't above a little deceptive headlining to play on people's fears to draw their attention. Shock, scandal, threat, outrage - that's what they compete with each other on. Nary an ideology in sight.
Hard to sell newspapers (or internet clicks) with a story that says everthing is fine, no sign of trouble yet.
All they're trying to do is pry my Dogecoin from my dead, cold fingers...
Why is it pronounced Doje coin. It seems to me that it should be Dog E-coin, pronounced Doggie coin.
Rules a mercantile empire in a cute and agreeable fashion.
Pussycoin would just be Hedonismbot, responsible for nothing as the world collapses under the weight of his arbitrary and extraordinary exactions.
So, you're right, Doggie coin is much better.
The pronunciation is peculiar to memespeak.
What is this may-may-speak? Or is it some super-egotistical French thing -- muh-muh-speak? And what does this have to do with an apparently valuable coin associated with the medieval rulers of Venice? I am very confused ...
(~‾▿‾)~
I thought it was a callnack to the Medicis.
Dude, nobody cares about men's suits or airplane tickets or hotel rooms (notice they pick three things with high demand elasticity and/or directly crushed by travel restrictions). We care about food, energy, transport, and commodities (lumber!). And those are going up at a good clip.
Stop your denialism.
Speaking of inflation,
Nuclear Reactions Have Started Again In The Chernobyl Reactor,
https://www.unilad.co.uk/news/nuclear-reactions-have-started-again-in-the-chernobyl-reactor/
How else will you make people afraid of inflation?
Conventional wisdom backed by nonsupporting evidence. Film at 11.