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I'm a bit out of my depth here (I always am when it comes to macroeconomics or monetary theory). Let's say that the equity holders of the various shipping comp

I'm a bit out of my depth here (I always am when it comes to macroeconomics or monetary theory). Let's say that the equity holders of the various shipping companies keep the $40k savings all for themselves, and use those profits to buy more stock. Isn't that still going to drive inflation? The price of shares will continue to rise solely due to more money chasing them. And every buyer of stock is giving money to a seller of stock on the other side, who will then do what with that money? If it's capitalizing a new company, then the money will be spent into the economy. If it's buying existing shares, then the seller will now have cash to spend. Either way, the money is still an active participant in the money supply. Meanwhile the government is creating new money each year to offset the salary losses of the displaced truckers. What used to be a 40K transfer from employer to employee is now a $40k diversion to other uses at the employer's end, and $40k of brand new money on the employee's end.

wz1000 6y ago
From the article > The 30% who are working under federal jobs programs will have working lives completely decoupled from the workings of the market. The movements of markets – particularly financial markets – will be irrelevant to everyone except for a group of weird, chart-watching, twitchy nerds who fulfill the boring job of capital allocation to an increasingly irrelevant section of the economy. And earlier > That money is mostly chasing the same goods that were available before the crisis (rent, groceries, and debt service) so it’s not crowding out other buyers and causing inflation (inflation occurs when more money chases the same goods, so buyers get into bidding wars that drive up prices – when the same quantity of money is chasing the same quantity of goods, there’s no inflation).

wz1000 6y ago

From the article > The 30% who are working under federal jobs programs will have working lives completely decoupled from the workings of the market. The movements of markets – particularly financial markets – will be irrelevant to everyone except for a group of weird, chart-watching, twitchy nerds who fulfill the boring job of capital allocation to an increasingly irrelevant section of the economy. And earlier > That money is mostly chasing the same goods that were available before the crisis (rent, groceries, and debt service) so it’s not crowding out other buyers and causing inflation (inflation occurs when more money chases the same goods, so buyers get into bidding wars that drive up prices – when the same quantity of money is chasing the same quantity of goods, there’s no inflation).