Birdwatch Archive

Birdwatch Note Rating

2024-09-14 02:29:15 UTC - NOT_HELPFUL

Rated by Participant: 6E518F0C547D78197FDA0A863CD8B44D1C6B651ED3330C9212C92EA92127910B
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Original Note:

$2T "in real wealth" is referring to wealth after inflation. Berkeley economists estimate that the average middle class individual lost $34k since March 22', the start of interest rate hikes. Most of this loss is "paper wealth" that is not felt on a day-to-day basis. https://www.bloomberg.com/graphics/2023-bidenomics-middle-class-economic-anxiety-2024-election/

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