Inflationary pressures on the U.S. economy are getting so bad that even The Washington Post acknowledged that media arguments banging the transitory drum are falling flat.
The Post economics correspondent Heather Long wrote a damning news piece headlined, “Uncomfortable inflation is here, and it’s changing the economy.” Long wrote: “American families and businesses are altering their habits as they increasingly believe high prices are here to stay.”
Long reported that “[n]ews this week that U.S. inflation is running at a 13-year high of 5.4 percent confirmed what many Americans already know as they juggle their budgets: Food, energy and shelter costs are all rising rapidly, adding to the strain Americans were already dealing with from the higher costs of hard-to-find goods such as cars, dishwashers and washing machines.”
Housewares and beauty-product company Helen of Troy CEO Julien Mininberg dropped the cold hard truth to Long: “‘We’re assuming that the inflation is not going to be transitory, and we’re positioning ourselves accordingly.’”
So much for New York Times economist Paul Krugman’s absurd dismissal that skyrocketing inflation and hiring problems were “transitory” and “temporary.” In September, the economist exclaimed in an op-ed, “Wonking Out: I’m Still on Team Transitory.” Yahoo News published a spin piece in July headlined, “July data reveals 'significant cooling in transitory inflation.’” In May, Bloomberg News also tried to downplay the threat of inflation: “Fed Officials Have Six Reasons to Bet Inflation Spike Will Pass.”
In fact, Long specifically went after policymakers who are still gaslighting the inflation issue in an Oct. 15 tweet: “Policymakers keep saying inflation will be temporary, but rising rents challenge that view and pressure Washington to react.” In her news item, Long noted that workers are demanding pay increases “because they can see their wages aren’t buying as much with so many everyday necessities costing more, including rent.”
Such behavior risks the wage-price spiral phenomenon, which “often leads to sustained high inflation that forces the Fed to step in to stop it,” Long said. Americans are starting to feel the heat of inflation on their day-to-day living, according to Long’s analysis:
Rising rents are fueling inflation. Rents surged at the highest level in September since 2001.— Heather Long (@byHeatherLong) October 15, 2021
Policymakers keep saying inflation will be temporary, but rising rents challenge that view and pressure Washington to reacthttps://t.co/TkCYSDgEpJ via @jeannasmialek
Numerous polls and consumer sentiment surveys “show inflation has become a top concern for many Americans. And people are predicting inflation will stay high.” But the reality of spiking inflation hasn’t stopped liberal media outlets from trying to go from dismissing the threat of inflation to spinning the terrible economic situation in a manner that benefits President Joe Biden.
Recently, Bloomberg Opinion columnist Karl Smith published a nonsensical article headlined, “America Needs Higher, Longer-Lasting Inflation.” His sub-headline was just as ridiculous: “The benefits of moderately rising prices and wages outweigh the costs.”
Conservatives are under attack. Contact ABC News (818-460-7477), CBS News (212-975-3247) and NBC News (212- 664-6192) and demand they report the truth on dangerous inflation to viewers.