Sarah Jeong, a member of the New York Times editorial board, tweeted on Wednesday that inflation was actually hurting rich people and not poor people as is regularly reported in the media.
"[A]ll the stuff you see about inflation in the news is driven by rich people flipping their s*** because their parasitic assets aren't doing as well as they'd like and they're scared that unemployment benefits + stimmy checks + 15 minimum wage + labor shortage is why," Jeong said, adding the acronym for "just my thoughts."Jeong went on in a short tirade to address her critics.
"[W]aaaaah the working class's income is keeping pace with or outstripping inflation but my capital gains aren't boo f***ing hooooo," she tweeted.
"[V]ery spooky scary to think of the moment the poors realize inflation favors debtors and that that's what the hubbub is about, and not milk prices," she added, apparently referring to a CNN report about inflation hurting families.
Many on social media lashed out at Jeong for undermining the effect of rising prices on the lower and middle class."This is idiotic. Asset prices have risen sharply. Inflation is squeezing at the middle of the income spectrum; wage growth is outpacing inflation at the bottom, and people at the top are enjoying asset price spikes," replied Josh Barro of the Business Insider.
"This is absolutely idiotic gobbledygook. Those most worried about inflation are those whose wages have been eaten up by inflation. The rich, who have their money in assets like stocks and real estate, are making bank," responded Ben Shapiro.
"I am once again begging non-econ pundits to talk to econ people before saying this stuff. Stocks are way up. Real estate is way up. Crypto is way up. Every financial asset is way up. REAL WAGES ARE DOWN," repliedNoah Smith.
"My grocery bill has gone up 25%, which is fine! I can afford it! But not everyone can. I don't give a s*** about myself. But it's a big deal if people can't afford to buy milk, bread, ground beef, applesauce and yogurt for their kids and have to make choices," responded writer Emily Zanotti.
David Burge responded simply, "Quite literally the stupidest f***ing tweet I have ever read."
Jeong was unlikely to see some of the responses because she said that she turned off notifications for the tweets. She was previously known both for demanding the censorship of journalist Andy Ngo and for her numerous racist tweets against white people.
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