Americans should be reassured by high prices, apparently. Does Trump's team really think we're that stupid | Arwa Mahdawi

According to chief economic adviser Kevin Hassett, living in the world’s richest superpower and witnessing food, electricity and housing become luxury items is a good thing

God, I love paying high prices at the supermarket, don’t you? I walk outside with a bag of basics that cost approximately 500% more than they did a few years ago and it makes me feel so optimistic about life. What a wonderful thing to live in the US – the world’s richest superpower – and witness food, electricity and housing become luxury items.

Donald Trump’s chief economic adviser, Kevin Hassett, knows what I mean. On Sunday Hassett went on Fox News to inform the US public that high prices are good, actually. Trust him – he’s an economist. Yes, it’s true that last month the University of Michigan’s consumer sentiment index dropped to its lowest point since the survey began in 1952 and Americans are feeling grim about the economy. But as Hassett explained, “The Michigan survey no longer has anything to do with the economy … it’s just a place where Democrats get to register how angry they are at President Trump.”