We’ve reached the point in America where leftist network MSNBC actually tried to hoodwink people into believing that the huge price spikes caused by inflation are a good thing.
MSNBC had the audacity to tweet out a nutty op-ed celebrating COVID-19 and downplaying the threat of inflation with the caption: “Why the inflation we’re seeing now is a good thing.” Yikes. The op-ed, headlined, “How Covid became the unlikely hero of our inflation crisis,” was written by MSNBC opinion columnist James Surowiecki. MSNBC later deleted the tweet following significant backlash from Twitter. [Emphasis added.]
Surowiecki criticized CNN’s segment about a family with eleven children struggling to inflation because they bought 12 gallons milk each week. Surowiecki whined: “the segment succumbed to one of the media’s worst tendencies: taking a real issue [of inflation] and overhyping it beyond recognition.” Question: how can you overhype inflation if it’s projected to “Get Much Worse, Even if Shortages End,” as Barron’s magazine warned in an Oct. 20 headline? Surowiecki took another page from New York Times senior economic correspondent Neil Irwin’s book and tried to make the overtly disastrous implications of high inflation seem like an exaggeration: “American consumers are, relatively speaking, flush, and it’s that strong demand for goods and services that is sending prices higher.”
Surowiecki challenged economics and tried to make the current inflation a positive sign of economic recovery. “The inflation we’re seeing is not, then, some mysterious affliction that’s descended on the economy. It’s the predictable product of the economy’s rapid recovery, and its costs have been offset, to a large degree, by robust wage growth and government policies,” he bleated. Is that why the Society of Human Resource Management wrote in September that “rising prices mean higher salaries aren’t likely to keep pace with inflation” Surowiecki? Of course, he never mentioned anything about the low labor participation rate (61.6 percent), “the lowest since the 1970s (except for during the lockdowns of 2020).”
And CNN just reported Nov. 8 that “there is a realization that inflation will be sticking around longer as supply struggles to keep up with surging demand.”
Erick Erickson Show Host Erick Erickson slapped Surowiecki’s argument down on Twitter: “A reminder to progressives that they hate you and consider you stupid. Respect the voters is all you need to do. You people don’t even have that ability.”
Another reminder that progressives hate you and think you are stupid. All you have to do is respect the voters and you people are not even capable of that. https://t.co/mG1TW1zbde
— Erick Erickson (@EWErickson) November 8, 2021
A recent report by Reuters also drilled a hole into Surowiecki’s “rapid recovery” argument. Specifically, Reuters said that “U.S. manufacturing activity slowed in October, with all industries reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the fourth quarter.”
Conservatives under attack Call MSNBC (800) 952-5210 to demand accurate reporting on the devastating economic consequences of high inflation.
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