Today's edition comes from this NYTimes article.
Mosler pointed out in the tweet that households are net savers on average, meaning that collectively, we earn more interest on our investments than we pay on our borrowings.
The article is about the effect of interest rates on an economy, and Mosler's unique opinion on the topic. The above quote is the core of Mosler's belief, that since households are net savers on average, we can conclude that higher interest rates are GOOD things for the average Joe.
True?: we don't have a citation to verify, but yes, let's assume it is true.
Intention? to convince the reader that most households save more than they borrow. The article's opinion is that the Fed should raise interest rates so most households benefit from more interest income.
False?: the statement is used to argue that most Americans benefit from higher interest rates. His statement about the average is false in that context. The ultra-wealthy push the average to look artificially high, when in reality, we want the median household.
You can see here that the top 1% and 10% blow all other percentiles out of the water. If you were to compute the median, his statement is likely not nearly as persuasive.