Matthew Yglesias

@mattyglesias ↗

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Last Checked Sept. 28, 2022

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Wed Jul 13 15:21:04 +0000 2022

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Matthew Yglesias @mattyglesias

In inflation-adjusted terms we are now clearly below the pre-pandemic trend as post-pandemic scarcity is now inflating away the stimulus driven surge in accumulated money. https://t.co/9agUFkIDNF — PolitiTweet.org

Posted July 13, 2022 Hibernated

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Matthew Yglesias @mattyglesias

Nominal disposable income surged enormously during the pandemic because it was mostly low-wage workers who lost their jobs, and over 100% of lost labor income was replaced by stimulus payments. Recently nominal income growth has cooled but the “area under the curve” is big. https://t.co/bUdEvWEhm5 — PolitiTweet.org

Posted July 13, 2022 Hibernated

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Matthew Yglesias @mattyglesias

One way to think about this is the pandemic-era increase in “real income” was illusory. We didn’t have a gigantic increase in the economy’s productivity capacity in the year 2020. The surge in balance sheets registered as non-inflationary because people weren’t spending. — PolitiTweet.org

Posted July 13, 2022 Hibernated