“The person living paycheck to paycheck experiences [inflation] very differently. He doesn’t own enough stocks for another bull market to change his life. Instead, he notices that his rent costs more. His groceries cost more. Insurance costs more. Restaurants cost more. A starter home that was already expensive becomes completely unattainable.
“Back in the day, inflation would slow (but never reverse) and economists would announce that the problem was getting better. But the middle and lower class was still stuck with higher rent, groceries and home prices. Nowadays, inflation hasn’t even slowed. Prices are still skyrocketing higher. And the middle and lower class is getting torn to shreds by higher prices.
(. . .)
“As I’ve said innumerable times on this blog, a voter doesn’t need to understand the Federal Reserve’s balance sheet to recognize that something feels profoundly wrong when working full time no longer seems sufficient to achieve the basic milestones previous generations considered normal.
“And when that voter hears that the stock market has hit another record high, he doesn’t feel richer. He feels cheated…and pissed off…and envious.
“Then along comes Mamdani offering to freeze his rent, subsidize his childcare, make his bus free and use government to intervene in the cost of everyday life.”
● “The Fed Created Zohran Mamdani; We spent years inflating assets, crushing affordability and then acted shocked when voters demanded something radical,” QTR’s Fringe Finance (Substack), 10/3/26:
ARTICLE LINK: https://quoththeraven.substack.com/p/the-fed-created-zohran-mamdani?utm_campaign=post&utm_medium=web
#inflation #monetarypolicy #DemocraticSocialists #NewYork #RealEstate
