Latest

Suggestion Americans spend paychecks faster to cope with inflation sets social media off

December 13, 2021 | | Print Article

Get the latest BPR news delivered free to your inbox daily. SIGN UP HERE

The Bloomberg news agency is offering some advice to America as inflation soars: spend more and borrow more. Social media isn’t buying it, though.

In what appears to perhaps be another attempt by the Biden-supporting corporate media to downplay the arduous inflationary environment which is sapping the income of ordinary Americans, Bloomberg suggests that U.S. consumers should follow the lead of their Argentinian counterparts in a country where the annual inflation rate reportedly hits 50 percent.

One of the recommended inflation-era survival tactics from the Bloomberg reporters based on the Argentine model is to spend your paycheck immediately because “money that sits in the bank is losing value.”

“As a result, many Argentines spend their paychecks as soon as they receive them, carting away weeks worth of groceries in a single shopping trip, even if some of it — excess meat, chicken, fish — will sit in the freezer for months,” claimed an article published by the news outlet co-founded by billionaire ex-New York City Mayor and failed 2020 Democrat presidential candidate Michael Bloomberg.

“The practical application of this technique in the U.S., where inflation isn’t quite high enough to warrant such a mad pay-day dash, is to expedite plans to buy big-ticket items.”

Borrowing lots of money is also a good thing, especially for those big purchases, the article, which is headlined “For Americans Shocked by Inflation, Argentines Have Some Advice,” explains.

“If you can get a loan at a rate below inflation — something that’s possible for many Americans today — go for it. Inflation will make it easier to repay the loan in coming months and years.”

According to the U.S. Labor Department, inflation under the big-spending Biden administration has hit a nearly 40-year high, which is demonstrated by significant price increases at the pump, at the supermarket, and throughout the economy generally.

A recent Gallup poll suggests that nearly half of Americans said inflationary prices created some form of financial hardship for their households, while 10% described it as a severe hardship.

“The consumer price index rose 6.8% in November from a year ago, according to a new Labor Department report released Friday, marking the fastest increase since June 1982, when inflation hit 7.1%…The Labor Department said the increases for food and energy were the fastest 12-month gains in at least 13 years,” Fox Business reported.

Responses to the Bloomberg essay are rolling in, and they express skepticism, to say the least.

DONATE TO BIZPAC REVIEW

Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!

$10
$15
$25
$50
Other
$
Success! Thank you for donating. Please share BPR content to help combat the lies.
Robert Jonathan
Latest posts by Robert Jonathan (see all)

Comment

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.

PLEASE JOIN OUR NEW COMMENT SYSTEM! We love hearing from our readers and invite you to join us for feedback and great conversation. If you've commented with us before, we'll need you to re-input your email address for this. The public will not see it and we do not share it.

Latest Articles