Bloomberg columnist's tips for beating Bidenflation don't go over very well
An out-of-touch academic, writing a column for Bloomberg Opinion, demonstrated just how out of touch the country's elites are as inflation hits every sector of the country.
Instead of hiding the mess, or better yet, just not printing it, Bloomberg Opinion tweeted its existence out with a handy tip sheet:
Inflation stings most if you earn less than $300K. Here's how to deal:— Bloomberg Opinion (@bopinion) March 19, 2022
➡️ Take the bus
➡️ Don’t buy in bulk
➡️ Try lentils instead of meat
➡️ Nobody said this would be fun https://t.co/HGJEoXL5ZZ
Which was about as amateur-hour as it gets on the age-old topic of cutting back as inflation eats into worker earnings.
The "advice" also included a recommendation to cut chemotherapy for one's dog as if that would solve the inflation problem for a loving pet owner.
Memo to Bloomberg columnist Teresa Ghilarducci of the New School for Social Research: Poor people already know how to cut back. It's called 'not having enough money.'
And as a hint as to how out of touch she was, Tweeters went to town on her.
Start with this one -- anybody checked out the price of lentils?
Bloomberg: let them eat lentils— maggie battles (@maggiebattlesxo) March 20, 2022
Bzzzt. Not an inflation hedge, Teresa.
Will hectoring workers to eat lentils instead of meat solve the problem? Only in the mind of an out-of-touch elitist.
Bloomberg article on inflation be like pic.twitter.com/0ZZiitFSTN— Michael A. Gayed, CFA (@leadlagreport) March 21, 2022
Let them eat lentils -- we all know how well that worked out in Venezuela:
Okay, the Bloomberg opinion piece telling me to shut up and eat lentils and “no one said this would be easy” is my last straw. Look, @bopinion and everyone else pushing a socialist agenda, I’m not looking to join the Venezuelan quick diet.— Lady Demosthenes (@LadyDemosthenes) March 20, 2022
The dog thing didn't go over very well, either:
There is a column in Bloomberg today that advises working class people to manage under inflation by letting their dog die to cut spending.— Emma-Jo Morris (@EmmaJoNYC) March 20, 2022
This is not how life being an American citizen is supposed to be.
The wealth of Bloomberg Opinion's owner, the $82 billion plutocrat Michael Bloomberg, was also noted, especially since Ghilarducci put the cutoff for inflation harm at around $300,000 -- along with the hypocrisy of it all:
Please God let Bloomberg run again in 2024— James David Dickson (@downi75) March 20, 2022
Those 3 minutes he was in the 2020 race were high comedy pic.twitter.com/7CmJvkoLEV
There also was this:
Bloomberg’s advice to combat inflation pic.twitter.com/4KLKyCcv4p— Dr. Parik Patel, BA, CFA, ACCA Esq. (drpatel.eth) (@ParikPatelCFA) March 20, 2022
Where have we heard that before? Transportation Secretary Pete Buttigieg, who advised Americans to buy $100,000 electric cars as a means of beating fuel inflation certainly would relate.
And sure enough, the unconventional president of El Salvador noticed something 'off' about this, ultimately rooted in the out-of-touch U.S. ruling classes:
The most powerful country in the world is falling so fast, that it makes you rethink what are the real reasons.— Nayib Bukele (@nayibbukele) March 20, 2022
Something so big and powerful can’t be destroyed so quickly, unless the enemy comes from within. https://t.co/EAHz5nt7ec
Not surprisingly, both the Daily Mail and the Daily Wire noticed the ratioing the column took out on Twitter. They have a bunch of additional tweets, the best of which is this one:
➡️ Turn off the money printer https://t.co/BWVhjSq51Q— Senator Michael Rulli (@michaelrulli) March 20, 2022
That's the one that gets to the root of this problem -- Federal Reserve money printing, to pay for Joe Biden's endless stimulus programs and payouts. That's the root of the inflation, not supply chain issues, as Ghilarducci argued, because inflation is always and everywhere a monetary phenomenon, as Milton Friedman argued -- something even some conservatives have trouble grasping. Japan has big supply chain issues -- and no inflation. Switzerland has high gas prices -- and no inflation. Neither nation prints cash the way Joe Biden's Fed does -- with some 20% of all bills in circulation now printed in the last couple of years. Inflation comes from a basket of goods and it all comes down to too many dollars in circulation to support the existing economic activity.
That's what's killing workers' paychecks, and no amount of silly advice on eating more rising-price lentils is going to fix it. What will fix it is the one thing Ghilarducci cannot countenance -- shutting down big government and all its bloated staff and salaries. That's the biggest reason why her column is so out of touch. And since the Biden administration is fully in step with this nonsense, there won't be any changes any time soon, something voters should note at midterms and in 2024.
Let them eat lentils.
Mock on, Twitterers.
Image: Twitter screen shot