{"id":1395470,"date":"2022-03-23T08:00:31","date_gmt":"2022-03-23T12:00:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1395470"},"modified":"2022-03-23T08:00:41","modified_gmt":"2022-03-23T12:00:41","slug":"bloomberg-column-to-solve-inflation-let-your-dog-die","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bloomberg-column-to-solve-inflation-let-your-dog-die\/","title":{"rendered":"Bloomberg Column: To Solve Inflation, Let Your Dog Die"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbloomberg-column-to-solve-inflation-let-your-dog-die%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1395470&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/03\/4988907979_0326fcdaea_h.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Last week, I <a href=\"https:\/\/thefederalist.com\/2022\/03\/16\/polls-show-bidenflation-is-killing-democrats-with-minority-voters\/\">wrote<\/a> in an article that leftist elites \u201clike [President Joe] Biden remain firmly ensconced in their <a href=\"https:\/\/thefederalist.com\/2021\/05\/06\/joe-biden-dodged-half-a-million-in-taxes-and-he-wants-you-to-pay-your-fair-share\/\">palatial estates<\/a>.\u201d Another article published last week proved it.<\/p>\n<p>The Bloomberg <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2022-03-13\/inflation-stings-most-for-those-earning-under-300-000\">article<\/a>, which gained <a href=\"https:\/\/www.foxnews.com\/media\/critics-slam-bloomberg-op-ed-inflation-stings-300k-dont-buy-bulk\">viral status<\/a> last weekend, came from Teresa Ghilarducci, a professor and board member of the leftist think-tank the Economic Policy Institute. Her biography <a href=\"https:\/\/www.epi.org\/about\/board\/\">advertises<\/a> a book that she claims provides \u201ca commonsense blueprint to save for retirement.\u201d However, given the Bloomberg article\u2019s contents, whether one would consider it \u201ca commonsense blueprint\u201d represents a very open question.<\/p>\n<h2 id=\"let-them-eat-lentils\"><strong>\u2018Let Them Eat Lentils!<\/strong>\u2018<\/h2>\n<p>The problems start with the article\u2019s title: \u201cInflation Stings Most If You Earn Less Than $300K. Here\u2019s How to Deal.\u201d Since nearly 90 percent of Americans <a href=\"https:\/\/www.investopedia.com\/personal-finance\/how-much-income-puts-you-top-1-5-10\/\">don\u2019t earn<\/a> a salary <em>half<\/em> as high as $300,000, this title seemed highly patronizing. However, as a regular writer for this and other publications, I also recognize that authors often don\u2019t write article titles\u2014editors do.<\/p>\n<p>But the content of the article proved no better. Consider these verbatim excerpts from the article, on how people can adapt to inflation:<\/p>\n<ul>\n<li>\u201cIf your income is more than $289,000 a year, the run-up in gas prices may be alarming\u2014but it\u2019s unlikely to hammer your overall finances.\u201d<\/li>\n<li>\u201cAdjustment [to inflation] is hard for people without savings or choices.\u201d<\/li>\n<li>\u201cTo deal with gas prices, it\u2019s worth reconsidering public transportation if it\u2019s an option where you live.\u201d<\/li>\n<li>\u201cWhen it comes to food, don\u2019t be afraid to explore. Prices for animal-based food products will certainly increase\u2026. Though your palate may not be used to it, tasty meat substitutes include vegetables (where prices are up a little over 4%, or lentils and beans, which are up about 9%). Plan to cut out the middle creature and consume plants directly.\u201d<\/li>\n<li>\u201cStay away from buying in bulk\u2014you usually don\u2019t save any more by buying more. Sure, there may be great deals, but most consumers wind up falling for the tricks that entice them to spend more.\u201d<\/li>\n<li>\u201cIf you\u2019re one of the many Americans who became a new pet owner during the pandemic, you might want to rethink those costly pet medical needs. It may sound harsh, but researchers actually don\u2019t recommend pet chemotherapy\u2014which can cost up to $10,000\u2014for ethical reasons.\u201d<\/li>\n<\/ul>\n<p>In short: To save money and avoid the inflation pinch, Ghilarducci advises people to take transit; consume lentils instead of chicken or beef (<a href=\"https:\/\/www.reddit.com\/r\/TheSimpsons\/comments\/5gj5ai\/lousy_chub_night\/\">chub night<\/a>, anyone?); not buy bulk products, even though they (normally) have the lowest cost per unit; and let beloved family pets die.<\/p>\n<h2 id=\"she-said-what\"><strong>She Said <em>What?<\/em><\/strong><\/h2>\n<p>The level of cognitive dissonance in the article boggles the mind. To start by quoting an income level of $289,000 seems astonishing, seeing that the Economic Policy Institute\u2014that is, the organization <em>on whose board Ghilarducci sits<\/em>\u2014<a href=\"https:\/\/www.epi.org\/multimedia\/unequal-states-of-america\/\">notes<\/a> that such an income level would place a household in the top 1 percent <a href=\"https:\/\/www.epi.org\/multimedia\/unequal-states-of-america\/#\/West%20Virginia\">in many states<\/a>.<\/p>\n<p>The advice to take transit will prove of little help to people in most rural areas, where public transportation either does not exist or requires such long waits as to make it impractical and counter-productive. An Associated Press reporter, <a href=\"https:\/\/www.foxnews.com\/media\/critics-slam-bloomberg-op-ed-inflation-stings-300k-dont-buy-bulk\">commenting on the article<\/a>, noted that even urban and minority communities often lack access to public transport.<\/p>\n<p>On the other hand, one can almost ask why Ghilarducci didn\u2019t go further. For instance, if she wanted to continue with her patronizing \u201cadvice,\u201d she could have discussed how having pets increases households\u2019 carbon footprints.<\/p>\n<p>Also worth noting: The owner of the outlet that ran the article, Bloomberg publisher Michael Bloomberg, allegedly <a href=\"https:\/\/abcnews.go.com\/Politics\/inside-allegation-bloomberg-told-pregnant-employee-kill\/story?id=69241658\">advised<\/a> one of his female employees who told him she was pregnant: \u201cKill it.\u201d Given this back story, it\u2019s surprising that Ghilarducci \u201conly\u201d advised euthanizing pets needing costly care.<\/p>\n<h2 id=\"the-ruling-class-is-out-of-touch\"><strong>The Ruling Class Is Out-of-Touch<\/strong><\/h2>\n<p>Reading through the article, Ghilarducci\u2019s lack of familiarity with life outside of New York, Washington, San Francisco, and a few other liberal, elite enclaves becomes apparent. One can almost picture her look of befuddlement when told that no, most Americans do not have easy access to Acela service, or that ordinary families actually can (and do) save money buying in bulk because they 1) take the time to plan their weekly meals in advance and 2) only dine out at restaurants for a special occasion.<\/p>\n<p>Not two months ago, I <a href=\"https:\/\/thefederalist.com\/2022\/01\/27\/treasury-secretary-janet-yellen-made-nearly-half-a-million-dollars-from-five-speeches\/\">noted<\/a> that \u201cthe disconnect between wealthy elites\u2014of both parties\u2014and the people they represent will only grow, with potentially disastrous effects on the nature of our society and the fate of the democratic experiment.\u201d The Bloomberg article, and the reaction to it, proved that point better than I could have argued myself.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  Chris Jacobs is founder and CEO of Juniper Research Group, and author of the book, &#8220;<a href=\"https:\/\/www.amazon.com\/dp\/1645720020\">The Case Against Single Payer<\/a>.&#8221; He is on Twitter: <a href=\"http:\/\/www.twitter.com\/chrisjacobshc\">@chrisjacobsHC<\/a>. Previously he was a senior health policy analyst for the Texas Public Policy Foundation, a senior policy analyst in The Heritage Foundation\u2019s Center for Health Policy Studies, and a senior policy analyst with the Joint Economic Committee\u2019s Senate Republican staff. During the debate over the Patient Protection and Affordable Care Act, popularly known as Obamacare, Jacobs was a policy adviser for the House Republican Conference under then-Chairman Mike Pence. In the first two years of the law\u2019s implementation, he was a health policy analyst for the Senate Republican Policy Committee. Jacobs got his start on Capitol Hill as an intern for then-Rep. Pat Toomey (R-Pa.). He holds a bachelor\u2019s degree in political science and history from American University, where he is a part-time teacher of health policy. He currently resides in Washington, D.C.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Last week, I wrote in an article that leftist elites \u201clike [President Joe] Biden remain firmly ensconced in their palatial estates.\u201d Another article published last week proved it. The Bloomberg<\/p>\n","protected":false},"author":521,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1395470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1395470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/521"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1395470"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1395470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1395470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1395470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1395470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}