Edward Snowden Blasts 'Mortgage-Free' Economists, Intellectuals After Inflation Comes In Hotter Than Expected: 'We Tire Of Their Smuggery'

Edward Snowden recently expressed his criticism towards economists and intellectuals for their perspective on the current economic situation, amidst rising inflation rates.

What Happened: On Tuesday, the former defense contractor took to X, formerly Twitter, to voice his disapproval of economists who, from their comfortable positions, fail to acknowledge the struggles of ordinary citizens amidst rising inflation. He criticized their tendency to downplay economic hardships based on a single metric that briefly improves.

Snowden, in a reference to the economists and intellectuals, said in the same thread “We tire of their smuggery.”

This post comes in the wake of a report that revealed a higher-than-expected inflation rate of 3.2% in February 2024, as disclosed by the Bureau of Labor Statistics. This rise in inflation contradicts the expectations of an imminent commencement of interest rate cuts by the Federal Reserve.

See Also: US Faces Surprise Recession Risk As Unemployment Rate Jumps Unexpectedly, Top Economist David Rosenberg Warns

Why It Matters: Snowden’s criticism seems to be directed at economists like Nobel laureate Paul Krugman, who previously underplayed the numbers and suggested that pricing pressure could be a thing of the past. This perspective was shared despite the December consumer price inflation slightly overshooting expectations.

It was reported earlier that while Americans’ assessment of the economy and their personal financial situation has improved, this hasn’t translated into a boost in approval ratings for President Joe Biden.

Previously, Snowden had commented on record inflation numbers, jokingly suggesting that “we’re all going to be billionaires,” while a gallon of milk would cost $2.6 trillion due to steep price increases.

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