Conservatives on Twitter ripped into The Washington Post on Wednesday after it published a listicle providing “7 ways a recession could be good for you financially.”
Disgruntled users slammed the piece as “propaganda” and expressed frustration that the outlet is only now admitting the country is in a recession, when it has been in one since the beginning of the fiscal quarter, at least according to traditional standards.
The piece, located in The Washington Post’s “Personal Finance” section, gave readers seven reasons they could be financially optimistic these days despite the recession and 40-year-high inflation. Columnist Michelle Singletary wrote, “as bad as things are — rising interest rates, high inflation, stock market tumbling — the economy hasn’t imploded as it did during the Great Depression.”
She added, “I have to say this because, as Roosevelt pointed out, fear itself can lead to actions that worsen your finances. While many people are hurting, there may be ways to cushion the downside.”
Singletary then provided her seven reasons. The first was, “Housing prices may finally come down to reasonable levels.” The second was “Savings rates are up.” The author noted, “At least one bright side of the Federal Reserve raising rates to fight inflation is banks are paying people more to hold their money.”- READ MORE