I’m borrowing this phrase because I just read the working paper from the Institute for New Economic Thinking entitled, “Trump vs. Biden: the MacroEconomics of the Second Coming”.
There’s a lot to unpack. Suffice to say that the disconnect between mainstream economists (and their mouthpieces) versus the sentiment of the general public when it comes to claims that we are in a ‘hot’ economy with lots of economic goodness, can be explained by a closer, deeper examination of what happened to the economic fortunes of different demographic groups post-pandemic.
