cross-posted from: https://thelemmy.club/post/12591808
- Jared Bernstein, Joe Biden's Chief Economist, faced difficulties explaining money's workings in a documentary or Finding The Money,' despite his role.
- He stumbled through concepts, highlighting the confusion around government money printing and borrowing
- Bernstein, who is head of the US Council of Economic Advisers, is not formally trained in economics and appeared bewildered in the clip
Economics is easy:
When rich people want money the money printer goes brrr
When poor people need money the money printer is broken and you need to get used to worse standards of living so we can fix it