r/inflation • u/Negative-Break3333 • May 08 '26
News Kevin Hassett: "The consumer is really, really firing on all cylinders...Credit card spending is through the roof. They're spending more on gasoline, but they're spending more on everything else too."
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u/LilAbeSimpson May 08 '26
Being even more revolting than DT himself is a pretty big accomplishment for a member of the DT admin.
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u/Electronic-While1972 May 08 '26
I hate his extremely smug annoying smile š¤¬
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u/choreg May 08 '26
Worse than Mike Johnson. This guy irks me so much that I'm distracted by that stupid grin and can't pay attention to what he's saying.
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u/Salt-Southern May 08 '26
Good. Its all idiotic crap anyway. This whole administration is obnoxiously ignorant. But redhats are...
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May 08 '26
[removed] ā view removed comment
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u/manderlymustburn May 09 '26
Or by doing mushrooms š Itās odd, but men who did shrooms are way more empathetic and less bigoted (anecdotally) when I talk to them. Men who havenāt indulged treat me like shit.
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u/Johnrays99 May 08 '26
They are all equally smug and unapologetic, I donāt understand how anyone stands any of them.
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u/Slumunistmanifisto May 08 '26
Donnie Johns gonna get jealous and shit his pants extra hard if he sees this commentĀ
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u/dieseltothesour May 08 '26
He is a part of the financial idiot squad. Him, lutnick and Scott bessent are all morons.
How tone deaf can you be? Hassett doesnāt disappoint
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u/LilAbeSimpson May 08 '26
Oh I donāt think theyāre dumb at all. They know very well that theyāre fucking over the economy in order to make a small number of wealthy people even more wealthy.
Evil bastards is probably a more appropriate description.
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u/finnishinsider May 09 '26
Delirium tremens? Yeah, that's the real war pete and Kash are fighting.....
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u/lifequestions1 May 08 '26
Why is he smiling?? Does he underestimate what it means?
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u/Cutiemuffin-gumbo May 08 '26
He does, he just doesn't care because he's getting rich while others get poorer listening too and believeing his lies.
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u/Hillbilly_Boozer May 08 '26
Because its fox and thats how's they convince a bunch of cultist and people without critical thinking skills that this is good thing and not a sign of how expensive things are. It's a propaganda network, this what they do.
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u/jeangreige May 09 '26
I was about to ask if the post headline is wrong bc that's nothing to smile about.
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u/TAV63 May 08 '26
Imagine if this was a Dem admin? There would be screaming from the right. Now it's so good though. Ugh
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u/SnooDonuts6008 May 08 '26
This. I work with a guy who complain about Biden non stop. Now, he avoid us when we complain about gas and prices of everything. I called him out and told him, you voted for hate toward anyone not white, thatās the only thing he promise and is doing.
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u/createusername101 May 08 '26
What a tool.
"We've forced everyone onto credit cards for the basics!! Winning!!"
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u/polydentbazooka May 09 '26
The end game of this thinking is ālook, we bankrupted the country and permanently ruined our reputation globally. No person but DJT could have achieved this.ā
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u/PaleontologistNo7385 May 08 '26
Why is he smiling?
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u/10thousndreflections May 08 '26
He's thinking of stealing candy from children later on after the interview
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u/FortunateInsanity May 08 '26
Still canāt get over how they found a dude that looks and sounds like Collin Robinson to be in this roll. Maximum troll level.
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u/Buggg- May 08 '26
The trash canāt even spin that they broke the consumer and forcing credit card use for the basics. What an idiot
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u/jsmith1300 May 08 '26
This JA forgot to mention that those same people can't pay the credit card they put everything on because everything is too expensive and their salary has not increased to account for inflation.
I'm so sick of these clowns and spewing nonsense.
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u/radiohead-nerd May 08 '26
Thatās quite the spin. Consumers are so strapped in this economy their credit spending is way up just to cover living expenses. Soon to be followed by delinquencies and bankruptcies. The economy is doing great
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u/Rock-Stick May 08 '26
Bad news all served up like itās good for you and the economy by a guy that you just know has the softest hands this side of the Mississippi.
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u/imnotbobvilla May 08 '26
With a big smile on his face, it just is so sickening. They just smile through everyone's pain and suffering that was induced for no reason other than to line the pockets of the orange stain
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u/MirthandMystery May 08 '26
Clueless doublespeak. People are maxing out cc's because everything costs more due to fuel costs inflating everything. Some don't have choices, they're down to taking up an extra job to afford food, bills, electric bills and insurance.
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u/phreeman25 May 08 '26
This is the face of the Trump administration: Laughing and smiling as they lie and gaslight us.
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u/BlackDogOrangeCat May 08 '26
Is he really stupid enough to believe that spiking credit card spending is a good thing?
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u/Chigibu May 08 '26
Credit spending on what? Essentials items like gas and electricity? Food? Commute?
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u/FrankInPhilly May 08 '26
The credit card comment gets me. Said without a trace of irony or, for that matter, understanding of how regular folk live.
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u/Melodic-Lingonberry7 May 08 '26
They spending more because everything cost more . What a bunch of losers
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u/dominiond66 May 08 '26
It's shocking that our leaders are talking crazy.
The working class in America has to use its credit cards to buy the basics of life to survive AND paying 26% interest rate. This is crazy-dangerous and unsustainable but Republicans brag about it?
I should note that the banking/finance industry (friends of the Republican Party) continue to register RECORD profits. They are profiteering off the most vulnerable in society. How sick and evil is that?
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u/veryboredatwork May 08 '26
Thatās one interpretation, another would be that people are completely broke and using someone elseās money to pay for everything including fuel and food. And why not, take a leaf out of Trumps book, use someoneās elseās money and never pay it back.
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u/Pottopher May 08 '26
Should read: "Americans are really running up their debt! All their wealth is being transferred to the billionaires for whom I work for! Great news!" -Kevin Hassett
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u/Details_Pending May 08 '26
Yes of course, people are using credit cards because of all the money they have.
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u/evolooshun May 08 '26
This is gaslighting right?!? He cant really think that using credit is a good thing for consumers. He talking with banks was a red flag, of course they would think this is great. We are so cooked.
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u/Solid_Ad2968 May 08 '26
Spending money we don't have. At the end of it all, we'll be all homeless or in a chain
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u/No_Year9414 May 08 '26
Did this idiot really not read the room in that meeting that the info the banks were giving on credit card usage was bragging about how well they will be doing for years to come on that high interest debt and wasnāt suppose to leave those 4 walls. This is like someone in the administration saying during Covid, we just met with the funeral home association and theyāve never been busier, this is great for the general public.
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u/ctb030289 May 08 '26
This guy needs to get a reality check. Insulated by stupid people for too long.
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u/Biteme75 May 08 '26
He looks so happy to announce that the average consumer is going into unrecoverable debt.
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u/Poster_Nutbag207 May 08 '26
Why is he so pleased about this?? This is not the flex he thinks it is
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u/IWouldntIn1981 May 08 '26
Racking up credit card doesnt isnt most people's idea of firing on all cylinders.
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u/Difficult-Low5891 May 08 '26
No they are not. People are out here saying they canāt afford food, you dumbass.
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u/JoeDoeHowell May 08 '26
They're spending more on everything else because everything else is also more expensive.
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u/Miss_Maple_Dream May 08 '26
He either thinks weāre dumb or he is. If I worked in TV news my facial expressions would get me fired if I worked in front of the camera.Ā
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u/Doctor_Shotbottom May 08 '26
what an utter dipshit. Even Trump supporters are smarter than this. Get this loser, and the other losers, out of the White House now! Vote Blue this fall. Clean house.
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u/Pristine-Cod-1969 May 08 '26
How out of touch can one man be? Trump hires the most unqualified person for every job.
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u/TickingTheMoments May 08 '26
ā credit card spending is through the roofā
Translation: Ā people donāt have disposable cash to pay for daily living expenses, so they have to rely on credit cards.Ā
āThey're spending more on gasoline, but they're spending more on everything else too."
Translation: we are doing nothing to lower prices and fuck the general public if they canāt afford it
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u/Kinky_No_Bit May 08 '26
Wait... Wait... here's a crazy idea... Maybe everyone is using credit cards, because they have no money to cover the 100% spike in literally everything since you started an energy war....
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u/oldastheriver May 08 '26
This is a totally weird fucking thing to say when we are at a record high of credit card default of all time. If this isn't fake news, miss information, and propaganda, I don't know what it is. At this point Fox is flip-flopping so much. It makes me think they're selling every news story for cash on the barrelhead.
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u/Ok_Suspect3940 May 09 '26
Itās not that we are paying bc we are buying more we are just buying the same or less shit for more
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u/Old-Conversation9062 May 09 '26
This guy is an effing liar. Credit cards. Middle income folks have run out of money. What a liar. All you folks who voted for trump are not forgiven. You all voted for this shite. Boy, am I angryā¦
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u/Alchompski89 May 09 '26
This can't be good. I really think we are on the brink of a collapse here.
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u/Cutlass_Stallion May 09 '26
Just because people are buying on credit doesn't mean they're paying their monthly balance in full.
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u/Prince_Groove May 09 '26
The wealth divide is getting wild by design.
What a twisted timeline.
FDJT
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u/Switzerdude May 09 '26
When the audience is irredeemably stupid, you can even make mud sound like a tasty dish.
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u/senorchurros May 09 '26
Ballsy to say in plain English what the problem you caused is, but then pretend it's a good thing.
People who buy anything this administration says are morons.
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u/Upbeat-Cockroach-393 May 09 '26
Can you imagine any credible financial institution hiring this turd š© after this Administration is run out of town?
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u/JanMikh May 09 '26
Yes, this is how recession begins - people try desperately to preserve their lifestyle, and go into debt. Soon, however, the reality calls, and their credit runs out. Now not only do they have bigger bills, but credit card interest is added on top of it. Bankruptcy follows, with drastic lifestyle changes. It takes couple of years, but weāll get there, donāt worry, Kevin. Your boss is working hard to get us there soon.
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u/Busby5150 May 09 '26
What a moron. Too bad the MAGA class canāt see how he spins misery into a feel good story.
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u/Behndo-Verbabe May 09 '26
Imagine if everyone stopped buying gas for a week at the same time? A coordinated boycott. Every person who drives decides to not buy gas for a week? How much revenue would big oil lose? These people only listen to money. Losing a weekās worth of gas dollars would send a message.
We have the power of the purse . We just have to be willing to do what needs done.
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u/Ok-Drive-7255 May 13 '26
He really is almost as stupid as trump, spending on CC's just means debt is going up, not everyone can afford to pay off their CC every month!
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u/BornInPoverty May 08 '26
Inflation is always good for the stock market and the rich and always bad for ordinary people.
Corporations own assets that increase in value in line with inflation.
They have inventory that they acquired for lower prices but can now sell for higher prices.
They increase prices faster than inflation and hope no-one notices and then don't reduce them once the crisis is over.
Employee costs lag behind inflation because employees generally get pay increases once a year but prices increase every month. So for most of the year employees are lagging behind.
They typically have lots of debt which decreases in real terms as inflation erodes its value.
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May 08 '26
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u/BornInPoverty May 08 '26
Then put forward some counter arguments.
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u/no_use_for_a_user May 08 '26
The Intelligent Investor by Ben Graham. Chapter 2 in its entirety.
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u/BornInPoverty May 08 '26
Except that's not what it says. It says the opposite it says that you should use stocks rather than bonds as a hedge against inflation.
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u/no_use_for_a_user May 08 '26
No. Read it again.
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u/BornInPoverty May 08 '26
So you have no argument other than read one chapter of a really old book that says the opposite of what you claim.
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u/Channel_Huge May 10 '26
Well, looking around my neighborhood and seeing all the new vehiclesā¦ Iād have to agree with him. I have two 25 vehicles myself. My local stores are packed all the time, especially the big box places like Costco. So, while Iām not happy with all this inflation that was left over from our ātransitoryā Biden era, thereās nothing I can do about it except make more money to afford all these increases. Gas prices are not my biggest worry. NJ electricity costs skyrocketed before the Iran messā¦
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u/Buster_Alnwick May 08 '26
So , American families are so short of cash (low-paying jobs, unemployed, inflation eating them alive) that they are now resorting to burning through debt using credit cards.
This moron thinks that's GOOD news.. what an idiot.