Joy Reid, the MSNBC anchor, came together with her colleague Stephanie Ruhle to argue that the actual issue in the economy isn’t inflation, not in real terms.
“The readout” host was having a discussion on Wednesday about the increasing concerns about elevating inflation that is impacting the economy. Although, just after that, Reid pointed out the worries over inflation as a Republican subject matter.
Reid explained “So Republicans want you to believe the economy isn’t doing well, that it’s terrible. Unemployment is at the lowest point since the pandemic began.
Prices are higher, which is never good, but Americans are spending a record amount of money that was pent up during the pandemic, which economics 101 will tell you drives prices up, aka inflation.”
Reid Also Shifted Blame to Americans
It was noticed further that she also moved forward in shifting a couple of blame to Americans for being too dejected just for the reason that “things cost a little more.”
Joy Reid goes FULL Stephanie Ruhle: “So, Republicans want you to believe the economy isn’t doing well, that’s terrible. But, in reality, unemployment is at its lowest point since the pandemic began. Prices are higher…but Americans are spending a record amount of money” pic.twitter.com/fdT8zHm9Qt
— Curtis Houck (@CurtisHouck) November 18, 2021
She said “That conflict between how much we want to spend and what we can get into our hands quickly is contributing to help pessimistic many Americans feel about the economy,” after that, she argued that “The economy isn’t bad. People are mad because everything is late and things cost a little more.”
Reid, in a conversation with Sen. Elizabeth Warren, D-Mass., admitted that in comparison to the number of inflation reports, the economy is doing good enough.
Warren said, “There are a lot of strong signs in this economy, particularly coming out of the pandemic, a lot of good economic indicators.”
Consumer Confidence Is at Its Lowest in the Last Ten Years-Reid
Republicans have been blamed by Reid for “seizing” onto inflation as a problem to the swamp on President Biden which she linked to his slight approval rating.
Reid said “Consumer confidence is at its lowest level in a decade according to a University of Michigan survey and that lack of confidence has translated into a drop in Biden’s approval rating in part because Republicans are seizing on inflation and blaming Joe Biden for it personally.
Which is a fun twist after Republicans and Trump maxed out the national credit card on tax cuts for the super-rich and a partial wall that Mexico was supposed to pay for.”
In the show, while continuing, Reid later took into consideration the announcement that White House made on Wednesday mentioning an investigation of oil companies for reportedly increasing the gas prices for its gain.
Reid said, “There are some calls to investigate these oil companies because also, they don’t really like Build Back Better either because it deals with their issues but how is it when people stay home for a year suddenly the price of gas went up?”
Warren Agreed on the Point That Oil Companies Ripping Off the Prices
Agreeing on that point Warren accused oil companies of “price gouging” whilst the issue has been used by Republicans politically.
Warren said “This isn’t about inflation. This is about price gouging for these guys. So, I get it.
When we see prices go up, we’re all concerned and the Republicans want to come in and just try to hammer on one theme about this economy but we got to pay attention to the fact that folks like the oil companies say I think it’s just another opportunity to make profits and we need to call them out on that.”
Earlier, fellow MSNBC anchor Stephanie Ruhle tried to assert issues related to inflation “in perspective” by stating that along with prices, savings by families also have increased.
She said “The dirty little secret here, Willie, while nobody likes to pay more, on average, we have the money to do so,” adding “Household savings hit a record high over the pandemic, we didn’t have anywhere to go out and spend.”