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The Washington Post is no longer concerned with giving readers interesting and useful information. Instead, the entire newspaper is devoted to fearmongering, sp
by uejfiweun 5y ago
The Washington Post is no longer concerned with giving readers interesting and useful information. Instead, the entire newspaper is devoted to fearmongering, spin, and propaganda. A quick Google search for "Argentina Inflation Cause" yields the following result: "the price increase in Argentina was fueled by rapid expansion of the money supply". The WaPo very explicitly wants to rapidly expand the money supply in order to redistribute wealth and achieve "equity" or whatever the buzzword is today. I'd guess that this is likely the reason why they don't touch on this in the article - they want to distract you from what's currently happening, and instead are conditioning you to accept the outcome.
- gruez 5y ago>The WaPo very explicitly wants to rapidly expand the money supply in order to redistribute wealth and achieve "equity" or whatever the buzzword is today. Considering that they're owned by jeff bezos, why would bezos want this?
- deleted 5y ago[deleted]
- tomp 5y agoBecause he has real wealth (Amazon stock) that isn't affected by inflation (stocks rise as money loses value).
- thebean11 5y agoSo who is wealth being redistributed from?
- uejfiweun 5y agoIt's always the middle class that gets screwed, dude. Happened with the income tax, happening now with inflation, and will happen again once well-intentioned but naïve people pass a wealth tax.
- jaywalk 5y agoThe middle class.
- option_greek 5y agoIts not a distribution. Its a dilution. The rich gets richer as they have most of their savings and capital in form that is not taxable and also set to rise with markets and real estate. The poor and middle class have much smaller percentage of income working for them and not usually have access to high growth opportunities.
- itsumoiru 5y agoWhoever has the most USD cash. (In proportion to their total wealth) most certainly not the "rich".
- tomp 5y agoPeople with cash savings. Employees with salary. Owners of fixed income securities (government & corporate bonds, mortgages). Even owners of capital that sell stock (inflation causes imaginary "capital gains" and the corresponding taxes).
- MrPatan 5y agoYou
- thebean11 5y agoUnless I happen to have a mortgage, or other dollar denominated debt..
- otikik 5y agoIt's not the middleclass. It's _everyone that isn't rich enough_.
- tigershark 5y agoYeah, right. The economy will be crumbling, hardly anyone will have enough money to put food on the table but somehow they will manage to buy useless stuff on Amazon. Please, stop spreading bullshit, I know that you don’t believe it but you are actively harming people with your disinformation.
- caeril 5y ago> why would bezos want this? Easy answer: The Cantillon Effect [ https://en.wikipedia.org/wiki/Richard_Cantillon#Monetary_theory https://en.wikipedia.org/wiki/Richard_Cantillon#Monetary_the... ] Whenever Central Banks print money, they don't load up helicopters and distribute the funds evenly among the populace. They work through close relationships with Primary Dealers. The money enters the system through asset purchases. But when banks' assets are replaced on their books with cash, they have to do something with that cash. What do they usually do? Buy other assets. Like corporate debt. Like stocks. Money is fungible, and unless there are specific regulations preventing it, the first place freshly printed money goes is to the banks. The second place it goes is whatever those banks buy. Think index funds. Think AMZN. Even in open-market operations, the money still finds its way to AMZN. Example: The Fed pins the 2y-7y maturities down by buying in OMO. SOMEONE is selling. Usually, it's some sort of institutional fund with variable capital controls. With the TSY prices too high for their desk, they look for somewhere else to park their cash, like AMZN, or the SPY. The first at the trough always wins. The second at the trough wins really big as well. Hacker News readers with their FAANG incomes, RSUs, and 401ks, are pretty big beneficiaries, too. The guy that raises your pastured free-range eggs, though? By the time he's buying coop materials and fencing, most of the purchasing power has already been sucked dry from Bezos and you.
- beiller 5y agoSeems like it could be the bread and butter for Amazon's new fintech startup - BNPL loans which is perfect for hyperinflation based economies! Coming soon to a country near you!
- everybodyknows 5y ago> fearmongering, spin, and propaganda You're missing the biggest one, the first commandment of 21st century journalism: Thou shalt not criticize the culture of another people, howsomever much all evidence of a trouble's causes may point in that direction.
- kgin 5y agoThat's a lot of big claims about a very specific agenda. What are you basing this on?