Try the political quiz

15 Replies

 @Gr33nPartySamRepublican from Massachusetts commented…3 days3D

"Car loans are too expensive, but..."

"Mortgages are out of reach for first time home buyers, but..."

"Inflation impacts lower income people more severely because more of their income is spent on food and energy, but..."

"Credit card rates are making it harder for people to manage their debt, but..."

What comes after the "but" is always some version of telling people they're confused, petulant, or misinformed. I'd ask you to pay more attention to the first half of those sentences. These aren't just interesting side plots in the economy. For most Americans, these issues are the ENTIRE ECONOMY.

 @Bert2026Democratfrom PR agreed…3 days3D

I would add the cost of education. The cost of a college education has far out paced any other inflation metric by a wide margin.

 @BrainyC1v1cDutyDemocrat from Virginia commented…3 days3D

It really depends on where you are in your life trajectory. For me it works because I already own a home purchased at low interest rates, our cars are paid off, and I am enjoying higher interest rates on my bank accounts and better returns from bonds. Were I 28 still and looking to buy my first house, this would be terrible.

 @CodHalDemocrat from Indiana disagreed…3 days3D

what was the interest rate when you bought your first home?

Mine was 7% - sure it wasn’t easy but c’mon!

 @GreenPartyChoughDemocratfrom California commented…3 days3D

Corporate price gouging is a huge factor.

"In the past, corporate profit growth accounted for maybe a third of inflation. But a report from the Kansas City Fed found that nearly 60% of inflation in 2021 was because of corporate profits."

I have been reading a lot lately about grocery companies and other distributers of essential products realizing much, much higher profits lately. I would like Krugman to address this directly.

 @SugaryExecutiveSocialistfrom Virgin Islands agreed…3 days3D

There are numerous studies that have been done that show that corporate profiteering (price gouging) for a percentage of inflation before the pandemic was at about 11%.

That number has jumped to 51% for ALL inflation. (and rising)

 @P0l1t1calTruffleMountainfrom New York commented…3 days3D

Interest rate near 0%, like we had for so long, is unhealthy for the economy. It's promotes speculation and debt crises. So it's probably time to reduce rates slightly, but only slightly, we should never want to go back to ultra low interest rates. A healthy interest rate promotes productive business activities that generate wealth. And that's part of the reason the economy is doing so well.

 @RoadrunnerBertieDemocrat from North Carolina commented…3 days3D

Our current economy is the healthiest economy we have ever had. Strong growth, extremely low and sustained unemployment, low inflation (less than 3%). The main goal of economic policy should be low unemployment. Let's give credit where credit is due.

 @W3lfareAvaVeteranfrom New York commented…3 days3D

Interest rates are right were they should be. The near zero rates of the past decade have allowed the financial market engineer enormous leveraged plays at no cost which create little actual value.

If interest rates at 7% on a car loan make automobiles hard to buy that is a good thing.

Everything on the lots is oversized, over optioned and over priced.

That same applies to housing.

Everything being build around here is oversized with three car garages. When those sit on the market maybe the industry will start building capes and ranches again.

 @ISIDEWITHasked…3 days3D

How important is it for you that the economy is stable, even if it means making personal financial sacrifices?

 @ISIDEWITHasked…3 days3D

Would you prefer the Federal Reserve to lower interest rates to potentially boost spending and jobs, even if it could risk higher inflation?

 @ISIDEWITHasked…3 days3D

How would you react if the cost of things you buy regularly continued to rise, but your income stayed the same?

 @ISIDEWITHasked…3 days3D

Do you think it's fair for the economy to prioritize fighting inflation even if it means some people might lose their jobs?

 @ISIDEWITHasked…3 days3D

How would you feel if higher interest rates significantly increased your family's loan or mortgage costs?


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