Zakaria: Dems Are Fading Because ‘Inflation Is Much More Corrosive’ than We Realize — Economic Pessimism Hitting ’08 Financial Crisis Levels

On Friday’s broadcast of HBO’s “Real Time,” CNN host and Washington Post columnist Fareed Zakaria stated that “inflation is much more corrosive” than people realize and that’s why Democrats have lost ground in polls and economic pessimism “is about as strong as it was in the depths of the ’08 financial crisis.”

While discussing why Democrats have lost ground in the polls with white women, Zakaria said, “I think the biggest issue is the economy and inflation. So, if you look at — if you ask people what they think of the economy right now, the pessimism is about as strong as it was in the depths of the ’08 financial crisis. And inflation is particular — we’ve lived for so long in a period of low inflation, we don’t realize how spooky inflation is to most people. Unemployment affects the people who are unemployed and their families, 10-15%. Inflation affects everyone, and it robs middle-class people of their savings. It makes people, every time they go to the gas station, every time you go to the grocery store, you’re reminded of it. There’s a reason why inflation is what causes political revolutions. … So, I mean, inflation is much more corrosive than I think people realize. So, I think that’s probably the biggest explanation.”

He later added that losing credibility on culture hurts your credibility on the economy, “And if you look at Biden, he’s done so much for people in terms of spending money, programs, but what does Ron DeSantis say? Cancel culture, Critical Race Theory, transgender, and people go for it, unfortunately.”

Follow Ian Hanchett on Twitter @IanHanchett