MSNBC anchor Joy Reid recently joined Stephanie Ruhle to argue that inflation is not an economic issue and to speak out against the rising inflation fears that are affecting the economy. Reid made the point that inflation concerns are a GOP topic.
Reid emphasized that the GOP wants you to believe that the economy isn’t doing well and it’s horrible. She said unemployment rates are at their lowest level since the pandemic, even though prices are higher than ever. Americans are spending record amounts of money that were saved during the pandemic, which also drives up inflation or price rises.
Reid shifted the blame on Americans for being pessimistic because things are a bit more expensive.
She said that the conflict between what we want to spend and how quickly we can get it into our hands is contributing to the feelings Americans have about the economy.
She said that the economy wasn’t bad, but that people are crazy because everything is late and it costs a lot more. Reid met with Sen. Elizabeth Warren who confirmed that the economy is performing well, contrary to many reports. Warren stated that there are many indicators for coming out of the pandemic. Reid blamed the GOP on seizing inflation to attack President Biden, which she linked to his low approval ratings.
According to a University of Michigan survey, consumer confidence is at its lowest point in a decade. This has led to a decline in President Biden’s rating. The GOP is blaming Joe Biden and seizing inflation. Reid went on to state that the Trump administration and GOP have maxed out their national credit card on tax cuts and the border wall, which is a fun twist. Reid later referred to the White House’s announcement that it would investigate oil companies who supposedly inflate gas prices for profit.
There are calls to investigate these oil firms because they don’t like Biden’s agenda because it addresses their problems. Warren agreed and accused oil companies of “price-gouging”, while GOP use it politically.
Warren agreed that this is not about inflation, but about price gouging. She said we all worry when prices rise and the GOP wants to try to address one theme. She said that people need to be aware of il companies taking the chance to make profits too. Stephanie Ruhle, an MSNBC anchor, attempted to put inflation into perspective by saying that prices have increased and savings have increased.
She said that while nobody likes paying more, on average we have the money to make it so. She said that household savings reached a record high during the pandemic when we didn’t have any money to spend.