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1796 points koolba | 2 comments | | HN request time: 0.001s | source
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drawkward ◴[] No.42063854[source]
It's the economy, stupid:

-Inflation is not prices; it is the rate of change in prices. Low inflation doesn't imply low prices. -Aggregate statistics don't necessarily explain individual outcomes.

The Dems failed on this count massively, and have, for maybe the last 40 years, which is about the amount of time it took for my state to go from national bellwether (As goes Ohio, so goes the nation) to a reliably red state. This cost one of the most pro-union Senators (Sherrod Brown) his job.

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UncleOxidant ◴[] No.42066822[source]
> The Dems failed on this count massively

What was their failure here? The failure to explain to the economically illiterate that while inflation is now about where it was prior to covid that prices won't be going down (unless there's some sort of major recession leading to deflation)?

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ComplexSystems ◴[] No.42067493[source]
The failure is in this very common exchange

Average voter: I can't afford groceries at the store. Inflation sucks.

Response: Actually, here is the correct definition of "inflation." As you can see from the correct definition, inflation rates are now good! Hopefully this helps you understand why things will never get better.

What the average voter hears: I can't afford groceries. Your solution to this problem is to reframe the current situation as "good." I still can't afford groceries.

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whoknew1122 ◴[] No.42067645[source]
But what is the response that works?

Average: I can't afford groceries at the store. Inflation sucks.

Response: Well, inflation plays a part, but grocery stores are still recording record profits despite inflation.

Average: Are you suggesting grocery stores shouldn't make as much money as they can? Free market hater! Communist!

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pie_flavor ◴[] No.42067913[source]
There isn't, really. Inflation is irredeemable and you just have to be overwhelmingly better in other aspects, which she wasn't. The solution is to not have allowed it to happen in the first place.
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1. spankalee ◴[] No.42068068{3}[source]
> The solution is to not have allowed it to happen in the first place.

How, exactly?

The biggest causes of inflation were stimulus, supply-shock, and housing prices.

Stimulus started under Trump and was the correct response to COVID. Without it we would have had even worse economic suffering that we did. Inflation was the lesser-of-two-evils.

The supply shock was global, and there probably wasn't much to do about it, besides maybe some more supply-side stimulus.

Housing is just a shit-show, but people have been grinding to get more built to address the problems for years.

But stimulus was the thing that could have been changed the most, yet it kept us from having a much, much worse recession.

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2. mistermann ◴[] No.42068895[source]
Perhaps the operating system we use (and worship, and tell lies and untruths about, etc) is not bug free.