NBC Reveals “Dirty Little Secret”: People Can Afford Inflation Well

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Are you or someone you know struggling financially to cope with the soaring cost of inflation? Well, according to NBC business correspondent Stephanie Ruhle on Sunday today, the “dirty little secret” is that the American public can afford inflation well and are just stomach ache. But you may have to sell your home or use your 401K to survive the winter.

Following a report admitting that inflation was 30 years high at 6.2 percent, there were fewer discounts on holiday shopping items, gas prices rose 60 percent, and heating costs domestic would see a raise of about $ 500, Ruhle is gone on those who were worried about making ends meet.

And the dirty little secret here, Willie [Geist]While no one likes to pay more, on average we have the money to do it“, he has declared. And Ruhle’s rant was preceded by his suggestion that he needed “put it in perspective. “

In your opinion, “Household savings hit a record high during the pandemic. We had nowhere to go out and spend. And as we said a moment ago, we expect retail sales during the holiday season to break records. “

But for the millions of Americans who have lost their jobs due to the lockdown, what income have they had to save? Indeed, during the pandemic, NBC did a disgusting habit to aggressively push for lockdowns and other measures to shut down small businesses and then publish reports showing the desperation and pain such policies have caused in the form of long lines at food pantry. Something this author dubbed “porn of despair”.

And those expected sales numbers for the holidays would be increased by inflationary costs.

For those who own their homes and the value of our homes has risen And while the stock market is not the economy, you have more than half of American households with some investment in the markets and the markets have hit record highs., “She followed.

But these aren’t the most liquid assets. So, Ruhle’s advice to people is to sell their homes or take out a loan to afford to eat? What about the people who rent? What about those who rented and relied on the moratorium on evictions?

And those household investments in the stock market are mostly retirement savings set aside for later. Is his advice here for viewers to leverage their 401K early and incur more taxes and penalties?

He also argued that some demographics were getting more money anyway:

So, that’s why you see things like that expanded children’s tax credit. You have families of over 60 million children who earn $ 430 a month on average. For fixed income people, older people with social security, fixed payments will be adjusted next year to a 5.9% increase or inflation.

But that children’s tax credit evaporates when it encounters the rising cost of food. Some staple food items saw price percentages rise to double digits, eggs rose 12%, and bacon rose 20%. And those increased social security payments weren’t helping NOW, they also didn’t cover the full cost of inflation.

This segment came out on the same day as ABC Good morning America unrolled a new poll they did with The Washington Post where they found that President Biden’s approval rate had dropped to 41 percent and 70 percent said his handling of the economy was atrocious.

This is the crux of his report: trying to get things to run for the administration to save them from themselves while trying to bring the public to light.

NBC’s deafness of tone against the plight of Americans struggling to make ends meet was made possible thanks to lucrative sponsorships from Progressive, Tylenol, And AARP. Their contact information is linked so you can tell them about the biased news they fund.

The transcript is below, click “expand” to read:

NBC Sunday today
November 14, 2021
8:21:01 am Eastern

WILLIE GEIST: And Stephanie is joining me now live. Steph, it’s good to see you. As you say, inflation above six percent, numbers we haven’t seen in more than 30 years. So, how high can these prices go up and when do you see them go down?

STEPHANIE RUHLE: Listen, Willie, nobody knows exactly when they’re going to fall apart, but you have to put things in perspective. This inflation is not isolated, and the government predicted it would be a challenging recovery, all COVID-related recovery.

So, that’s why you see things like that expanded children’s tax credit. You have families of over 60 million children who earn $ 430 a month on average. For fixed income people, older people with social security, fixed payments will be adjusted next year to a 5.9% increase or inflation.

And the dirty little secret here, Willie, even though no one likes to pay more, on average we have the money to do it. Household savings hit a record high during the pandemic. We had nowhere to go out and spend. And as we said a moment ago, we expect retail sales during the holiday season to break records. For those who own their homes and the value of our homes has risen. And while the stock market is not the economy, you have more than half of American households with some investment in the markets and the markets have hit record highs.

So, we need to put all of this into perspective. Around this time last year, when you and I were talking, Willie, no one had a vaccine. Now 200 million Americans do and we are seeing this demand boost and that is driving up prices.

SPIRIT: It’s a good look.

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