{"id":999249,"date":"2021-11-11T14:58:49","date_gmt":"2021-11-11T19:58:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=999249"},"modified":"2021-11-11T14:58:51","modified_gmt":"2021-11-11T19:58:51","slug":"carney-leftwing-economists-say-inflation-is-a-really-good-sign","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/carney-leftwing-economists-say-inflation-is-a-really-good-sign\/","title":{"rendered":"Carney: Leftwing Economists Say Inflation Is &#039;A Really Good Sign&#039;"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/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%2Fcarney-leftwing-economists-say-inflation-is-a-really-good-sign%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=999249&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--><p class=\"subheading\">A far-left advocacy group wants to convince you to joyously embrace the decades-high inflation currently gripping the U.S. economy.<\/p>\n<p>\u201cIs inflation running rampant? No,\u201d says Rakeen Mabud, identified chief economist of an outfit called the Groundwork Collective that is sponsored by a dark money leftwing funding group, in a video posted to Twitter by a different leftist group called Invest in America. \u201cSo these one-time price increases are the result of returning consumer demand and a sign of economic recovery.\u201d<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>She goes on to say that inflation is a \u201creally good sign.\u201d<\/p>\n<p>Anne Price, a colleague at yet another leftwing pressure group called the Insight Center, appears in the video to say that the \u201creality is that mildly elevated inflation is actually a signal that things are going well.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\" readability=\"10.466876971609\">\n<p lang=\"en\" dir=\"ltr\">REMINDER: Inflation is always complicated, often harmless, and sometimes even a good thing! But don\u2019t take it from us \u2014 here\u2019s <a href=\"https:\/\/twitter.com\/rakeen_mabud?ref_src=twsrc%5Etfw\">@Rakeen_Mabud<\/a>, <a href=\"https:\/\/twitter.com\/AnnePriceICCED?ref_src=twsrc%5Etfw\">@AnnePriceICCED<\/a>, and <a href=\"https:\/\/twitter.com\/jhumpa_b?ref_src=twsrc%5Etfw\">@Jhumpa_B<\/a> debunking some of the GOP\u2019s inflation disinformation: <a href=\"https:\/\/t.co\/SQvr7MdbWX\">pic.twitter.com\/SQvr7MdbWX<\/a><\/p>\n<p>\u2014 Invest in America (@InvestNowUSA) <a href=\"https:\/\/twitter.com\/InvestNowUSA\/status\/1458550777480454147?ref_src=twsrc%5Etfw\">November 10, 2021<\/a><\/p>\n<\/blockquote>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p><em>Mildly elevated?<\/em> Inflation is running at the worst level in more than three decades and several times the Fed\u2019s target of two percent. The price of a used car is up more than 25 percent. The price of meat is up 14.5 percent.<\/p>\n<p><em>One-time price increases?<\/em> Inflation has been running above the Federal Reserve\u2019s two percent target for eight consecutive months.&nbsp; Business expectations for inflation in the year ahead are at their <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/11\/11\/bidenflation-business-inflation-expectations-jump-to-new-high\/\">highest point in data going back a decade<\/a>. Mark Zandi, the Biden-supporting chief economist at Moody\u2019s Analytics, recently <a href=\"https:\/\/www.breitbart.com\/clips\/2021\/11\/04\/moodys-chief-economist-supply-chain-issues-inflation-probably-wont-be-resolved-until-this-time-next-year\/\">said<\/a> inflation will remain high until at least next November.<\/p>\n<p><em>The GOP\u2019s inflation disinformation?&nbsp;<\/em>The figures showing decades-high inflation come from the Department of Labor, currently headed by Biden appointee Martin Walsh.&nbsp; Atlanta Fed president Raphael Bostic recently declared that <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/10\/12\/atlanta-feds-bostic-says-inflation-is-not-transitory\/\">it is clear inflation is not transitory<\/a>.<\/p>\n<div class=\"wp-caption alignnone\" readability=\"7\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/fredgraph-4.png\" width=\"630\" height=\"468\" \/><\/p>\n<p class=\"wp-caption-text\">One time price increases?<\/p>\n<\/div>\n<p>We\u2019ve been <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/07\/27\/richmond-fed-manufacturing-survey-july\/\">warning<\/a> for <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/09\/15\/no-sign-of-transitory-business-expectations-for-inflation-climb-to-fresh-high\/\">months<\/a> that the Biden administration and Fed officials <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/08\/11\/carney-transitory-inflation-is-fading-sticky-inflation-is-growing\/\">had it wrong<\/a> when they said inflation would be transitory. Now even Joe Biden has realized that downplaying inflation is a loser and is now <a href=\"https:\/\/www.breitbart.com\/politics\/2021\/11\/11\/joe-biden-finally-admits-inflation-is-worrisome-three-months-after-dismissing-it-as-temporary\/\">admitting<\/a> \u201cit\u2019s a real problem.\u201d<\/p>\n<p>The irony of this <a href=\"https:\/\/www.breitbart.com\/the-media\/2021\/11\/09\/nolte-msnbc-gaslights-with-claim-inflation-is-a-good-thing\/\">campaign<\/a> coming from self-styled \u201cprogressives\u201d is that inflation\u2019s toll gets harder the further down you go on the income scale. As I <a href=\"https:\/\/www.breitbart.com\/economy\/2021\/04\/09\/carney-welcome-to-bidens-america-where-the-poor-pay-more\/\">explained<\/a> back in April:<\/p>\n<blockquote readability=\"10\">\n<p>Inflation weighs particularly hard on those at the lower end of the income scale. A much larger share of income goes into current consumption, so higher prices squeeze budgets more. Meager savings are much more likely to be in low-interest paying bank accounts than in equities or inflation hedged investments, so they are vulnerable to to the deterioration of the buying power of the U.S. dollar\u2026<\/p>\n<\/blockquote>\n<div class=\"google-auto-placed ap_container\" readability=\"23.73417721519\">\n<blockquote readability=\"12.168443496802\">\n<p>&nbsp;The lower third of household incomes spend more on transportation than the upper two thirds, according to long-running data from&nbsp;<a class=\"x5l\" href=\"https:\/\/www.pewtrusts.org\/~\/media\/assets\/2016\/03\/household_expenditures_and_income.pdf\" target=\"_blank\" rel=\"noopener external\">Pew Charitable Trusts.<\/a>&nbsp; In 2019, transportation costs\u2014of which the price of gasoline is a major component\u2014accounted for 17 percent of all household expenditures, according to&nbsp;<a class=\"x5l\" href=\"https:\/\/www.statista.com\/statistics\/247420\/percentage-of-annual-us-consumer-spending-by-income-quintiles\/\" target=\"_blank\" rel=\"noopener external\">Statista<\/a>, the second biggest category after housing.Food is third in line after transportation and housing, accounting for 13 percent of household spending.<\/p>\n<\/blockquote>\n<p>The wealthiest Americans\u2014including<a href=\"https:\/\/www.breitbart.com\/\"> the folks who back<\/a> these leftwing groups\u2014have most of their wealth in stocks and real estate, asset classes that tend to do very well in inflationary periods. You probably have noticed that home prices and stock prices are hitting record highs.<\/p>\n<p>What I wrote in April is even clearer today:<\/p>\n<blockquote readability=\"18.337690631808\">\n<p>Inflation, particularly food and gasoline price hikes, acts as&nbsp;<a class=\"x5l\" href=\"https:\/\/www.cato-unbound.org\/2013\/12\/02\/jerry-l-jordan\/inflation-regressive-tax#:~:text=Inflation%20is%20a%20tax%20that,wealth%20from%20creditors%20to%20debtors.\" target=\"_blank\" rel=\"noopener external\">a regressive tax<\/a>, hurting low-income households more than higher-income households. In fact, higher income households are likely net beneficiaries of inflation.<\/p>\n<p>Biden, who won office on a promise to combat inequality and only hike taxes on very wealthy Americans, has presided over a stealth inflation-tax hike over lower-income households.<\/p>\n<p>Welcome to Biden\u2019s America, where the poor pay more.<\/p>\n<\/blockquote>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>A far-left advocacy group wants to convince you to joyously embrace the decades-high inflation currently gripping the U.S. economy. \u201cIs inflation running rampant? No,\u201d says Rakeen Mabud, identified chief economist &#8230;<\/p>\n","protected":false},"author":11,"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-999249","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\/999249","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\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=999249"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/999249\/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=999249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=999249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=999249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}