It is so important to look at and understand details and not look at the headline and say “okay got it”. You likely don’t.
As I read PNKs article about inflation, I think on the impact this has on people/families living paycheck to paycheck and how it is getting worse. I listen to Bloomberg news and they love to say inflation / economy is getting better. The working poor and middle class is saying “the cost of non-discretionary goods has gone up so much, I can’t understand why they say another 3%ish rise is good. I can’t afford to live now”. I can’t help but think it creates anger or tears when they hear it.
I know when I read some of the media commentary about inflation, my general reaction is along the lines of "on what planet do you spend most of your time?"
Nominal incomes: (gross income) are growing
Real incomes: (after inflation) are not growing.
It is so important to look at and understand details and not look at the headline and say “okay got it”. You likely don’t.
As I read PNKs article about inflation, I think on the impact this has on people/families living paycheck to paycheck and how it is getting worse. I listen to Bloomberg news and they love to say inflation / economy is getting better. The working poor and middle class is saying “the cost of non-discretionary goods has gone up so much, I can’t understand why they say another 3%ish rise is good. I can’t afford to live now”. I can’t help but think it creates anger or tears when they hear it.
I know when I read some of the media commentary about inflation, my general reaction is along the lines of "on what planet do you spend most of your time?"