Posted originally on the conservative tree house on May 22, 2022 | Sundance
We often talk about the disconnect between Wall Street (globalists) and Main Street (nationalists), and their influence in economic policy. Today, Jason Furman, a former Chair of the White House Council of Economic Advisors, appears on CBS News to discuss his Harvard-Kennedy School impression of the U.S. economy.
There’s a particular point in the interview [Transcript Here] that encapsulates the moonbat perspective of the globalists. Listen at 01:20 and you will hear this:
FURMAN: “Look, we’ve seen a remarkable thing. Consumers, if you survey them, are very pessimistic and negative about the economy. When they vote with their wallets, we saw- we got the consumer spending data for April and it was way up. Consumer spending on just about everything has been booming. Over the next 6 to 12 months, I’m not super worried about a recession. After that is where I start to get worried because that’s where the Fed’s policy will start having more of an effect.”
Put another way: Our policies have made prices skyrocket (inflation). Consumers are forced to spend more money to sustain themselves (food, housing, fuel, energy); ergo consumer spending is booming. Brilliant, our plan to increase consumer spending by raising their prices is working. That’s the way these people think. WATCH:
We force you to pay more, then turn around and claim economic victory because you are paying more…. “consumer spending is booming.”
By the way, he’s at the World Economic Forum where this perspective is actually cheered inside the echo-chamber.
Comrades, American consumers are overjoyed with gasoline because they are spending so much more money on it.
Gasoline sales are booming, so everyone must be happy.