An opinion piece in Bloomberg has drawn the ire of the internet. The essay in question tries to provide suggestions for how to deal with the country’s current issues with inflation.
However, the advice provided left a lot to be desired and for most people, felt like a kick while they were down.
And one piece of advice seemed absolutely cruel.
Inflation stings most if you earn less than $300K. Here's how to deal: \n\n Take the bus\n Don\u2019t buy in bulk\n Try lentils instead of meat\n Nobody said this would be funhttps://trib.al/Di8F7uF— Bloomberg Opinion (@Bloomberg Opinion) 1647724731
The tweet above, gives a quick summary of the advice, but leaves out one of the worst parts of it.
The article, written by Teresa Ghilarducci—Schwartz Professor of Economics at the New School for Social Research—said inflation hurts people making less than $289,000 a lot more than those over that annual income. But the inflation of gas and food is bound to hurt even lower income Americans more.
Ghilarducci went on to provide some advice.
It started simply enough by suggesting you budget for your expenses. But it gets bad really quickly.
The next bit of advice is to consider public transportation.
While this would be a great idea normally, the United States has systematically defunded public transportation in many cities. Many municipalities are built around the need to drive a car.
Next the recommendations got condescending, suggesting you look into non-meat options like lentils, since they’re likely to not have jumped as much in price as meat.
Lasty, the advice got macabre, saying you should consider letting major pet medical needs lapse and let your pets die if they become ill or are injured. The example used was pet chemotherapy, which can cost as much as $10,000.
The whole thing had people asking “WTF?”
"Less than $300K" really jumps out to me.https://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— Enigma, Wolf Mind Mage (@Enigma, Wolf Mind Mage) 1647797237
WTF is this?https://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— Expecto Chingonum \ud83c\uddf2\ud83c\uddfd (@Expecto Chingonum \ud83c\uddf2\ud83c\uddfd) 1647877869
I didn't have "Let them eat lentils" from Bloomberg on my 2022 bingo card but okay— Sheryl Ring, antipoverty lawyer (@Sheryl Ring, antipoverty lawyer) 1647747599
Okay but you told people to sell their cars and eat bugs to deal with inflation Teresahttps://twitter.com/tghilarducci/status/1505620033170337793\u00a0\u2026— Bobby Dazzle (@Bobby Dazzle) 1647959828
Bloomberg wants you to sell your car and let your pet(s) die in order to make up for inflation all while corporations have been raking in record profits for the last 2 years.https://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— BurgSkeletal \u2764\ud83d\udc9c\ud83d\udc99 \ud83c\uddfa\ud83c\udde6 \ud83c\uddf9\ud83c\uddfc (@BurgSkeletal \u2764\ud83d\udc9c\ud83d\udc99 \ud83c\uddfa\ud83c\udde6 \ud83c\uddf9\ud83c\uddfc) 1647988633
Commenters online were quick to roast the article.
Who could be surprised the magazine named after its billionaire founder wouldn’t understand the plight of the middle and working class?
But despite the author’s protests people just didn’t get the article, many understood the issue better than Ghilarducci. While she insisted the Federal Reserve’s actions wouldn’t solve inflation, it was pointed out neither would any of the advice in her article.
Letting your pets die, and eating plants instead of meat can possibly save a few bucks, but doesn't bring us any closer to reducing inflation. On top of all that, the article put the onus of inflation on the average and low-income population, with “tips” that do next to nothing to dull the sting of inflated prices.
And while it is contributing to current price hikes, this didn't just happen because of the current conflict in Ukraine. Inflation had been an issue long before that, despite corporations boasting about their record profits.
Ghilarducci’s advice is worthless.
98% of Americans earn less than $300K.\n\nIf we need something to eat, I have an idea.https://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— The Call is Coming from Inside the Nash (@The Call is Coming from Inside the Nash) 1647828038
Inflation stings most if you earn less than $300K. Here's how to deal:\n don't be poor\n f#ck off\n Die\n subscribe to Bloomberghttps://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— \u262dVladmey Dangerfield\u262d (@\u262dVladmey Dangerfield\u262d) 1647894881
Bloomberg\u2019s advice to combat inflationpic.twitter.com/4KLKyCcv4p— Dr. Parik Patel, BA, CFA, ACCA Esq. (drpatel.eth) (@Dr. Parik Patel, BA, CFA, ACCA Esq. (drpatel.eth)) 1647784495
A few more tips:\n\n Trips to the dentist can be costly. Consider a bottle of vodka and a pair of pliers. \n\n People rarely question whether you\u2019re homeless at the soup kitchen \n\n Now is the time to try that side business. There\u2019s always a demand for certain serviceshttps://twitter.com/bopinion/status/1505292742993321993\u00a0\u2026— Bryan \ud83c\uddfa\ud83c\uddf8for\ud83c\uddfa\ud83c\udde6 (@Bryan \ud83c\uddfa\ud83c\uddf8for\ud83c\uddfa\ud83c\udde6) 1647750026
These outlets will literally recommend anything other than redistributing wealthpic.twitter.com/7KODxdHt6F— Read Becoming Abolitionists by Derecka Purnell (@Read Becoming Abolitionists by Derecka Purnell) 1647797838
Bloomberg\u2019s big take on getting through inflation. \n\nTake a bus and eat lentils instead of meat. \nC\u2019mon peasants, nobody said this would be fun. \n\nSo basically, get .— Thia is with \u2026 \ud83d\ude0f\u270c\ufe0f\ud83d\udc8b\ud83d\udd25 (@Thia is with \u2026 \ud83d\ude0f\u270c\ufe0f\ud83d\udc8b\ud83d\udd25) 1647788273
Bloomberg article talking about letting ur pets die to conquer inflation. First of all, i value all of your lives less than kitty\u2019s so watch your back— (BIG) BROTHER (@(BIG) BROTHER) 1648003333
A common refrain from those on the right this is the fault of progressive policies and inflation wasn’t an issue under former Republican President Donald Trump.
This claim is easily debunked.
Trump’s trade war with China caused numerous sections of the food industry to raise prices dramatically, including beef, beer, cheese and soybeans. And during the onset of the pandemic, everyone was buying out toilet paper and bottled water, causing a massive inflation in resells.
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