this post was submitted on 17 May 2024

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Awkward moment Biden's economic adviser Jared Bernstein admits he can't explain how money works (www.dailymail.co.uk)

submitted 6 months ago by Amoxtli@thelemmy.club to c/politics@hexbear.net

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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

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[–] RyanGosling@hexbear.net 8 points 6 months ago

Even if you don’t, the capitalists insist they know more than you because they took economics 101 in high school. They should be able to explain their system whether you understand it or not.