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>There's inflation everywhere in the western world, so pointing at a specific Canadian policy for the inflation there is logically flawed. There is inflation e

>There's inflation everywhere in the western world, so pointing at a specific Canadian policy for the inflation there is logically flawed. There is inflation everywhere there was basic income. The USA: https://www.investopedia.com/government-stimulus-efforts-to-fight-the-covid-19-crisis-4799723 https://www.investopedia.com/government-stimulus-efforts-to-... Switzerland is constitutionally obligated to balance their budget. Where 77% of voters rejected basic income: https://www.bbc.com/news/world-europe-36454060 https://www.bbc.com/news/world-europe-36454060 They went into some painful deflation during covid and is only at 2.4% inflation and their interest rate is -0.75%. I wish I were able to speak one of the official languages of Switzerland. Just look at that beautiful 2.5% unemployment rate. If you want to say, 'oh they just have lots of people who are off welfare benefits and not participating in the labour market. 84% participation rate! 3rd best in the world. Switzerland is doing great. How about Australia? They traditionally do a great job; In 2009 they had no government debt. They seem to have their inflation under control around 3.5% with just 0.1% interest rate? https://tradingeconomics.com/australia/central-bank-balance-sheet https://tradingeconomics.com/australia/central-bank-balance-... Ouch, they did move over to the pool of printing money. They called it the 'Pandemic Leave Disaster Payment', just looked it up. No wonder their inflation is a bit high. Seems they didn't do as much as Canada or USA.

littlestymaar 5y ago
Cherry picking a few countries is a good way to confirm your bias, but not a good one to make a good argument with. Many places in Europe didn't have a “basic income” equivalent as part of their pandemic response (for instance, France's response has been exclusively targeted at companies, to avoid layoffs and bankruptcy), and it didn't prevent inflation ramping up here too.
- incomingpain 5y ago
  >Cherry picking a few countries is a good way to confirm your bias, but not a good one to make a good argument with. True, flipside I'm not writing a doctoral thesis over here. >Many places in Europe didn't have a “basic income” equivalent as part of their pandemic response (for instance, France's response has been exclusively targeted at companies, to avoid layoffs and bankruptcy), and it didn't prevent inflation ramping up here too. Lets take a look. France is one that I have been specifically following more about human rights and not economics. France was very interesting, amnesty international wrote up a good article on human right violations in france that have been increasingly problematic. I couldn't even tell you how many protests have been made illegal and crushed. That was before covid even hit. So France is at 4.5% inflation and rising and 0% interest rate. https://tradingeconomics.com/france/unemployment-rate https://tradingeconomics.com/france/unemployment-rate Wow very high unemployment rate. 26.5 corporate tax is dropping. 45% personal. 20% sales. So tax burden went from 98% to 91%. No wonder they are dropping a bit... you work for the government most of the year. https://tradingeconomics.com/france/government-debt-to-gdp https://tradingeconomics.com/france/government-debt-to-gdp Doesn't the EU demand this number be much lower? https://tradingeconomics.com/france/money-supply-m3 https://tradingeconomics.com/france/money-supply-m3 They didnt print money any significant money. But they did? https://tradingeconomics.com/france/central-bank-balance-sheet https://tradingeconomics.com/france/central-bank-balance-she... Where did a trillion euros go? https://www.nytimes.com/2020/04/01/business/france-coronavirus-unemployment.html https://www.nytimes.com/2020/04/01/business/france-coronavir... I cant find where that money went. I suspect France's inflation won't be bad and while it does appear not under control at the moment, it probably will level off soon. If I were a journalist in France I would be looking for that trillion euros.
  - littlestymaar 5y ago
    > France is one that I have been specifically following more about human rights and not economics. France was very interesting, amnesty international wrote up a good article on human right violations in France that have been increasingly problematic. Yep, and I'm a bit baffled that international media talks really little about it. Macron looks a lot more like Erdoğan than to Bidden or Trudeau, but for some reason international media don't talk about him in that terms. > I couldn't even tell you how many protests have been made illegal and crushed. I was part of the third Yellow-vest Saturday protest, and the police reactions was a bit surreal. It got even nastier afterwards, as the government really decided to crack the protest down by police brutality (and mass arrests: up to 2000 in one day, such a figure sounds like Putin's Russia) > So tax burden went from 98% to 91%. No wonder they are dropping a bit... you work for the government most of the year. You've just completely misread the figures… 45% is the total “tax burden”, but even calling it “tax” is not right since the majority of it (25 of those 45%) are in fact payments for pensions and health insurance. > https://tradingeconomics.com/france/money-supply-m3 https://tradingeconomics.com/france/money-supply-m3 > They didnt print money any significant money. > But they did? https://tradingeconomics.com/france/central-bank-balance-she https://tradingeconomics.com/france/central-bank-balance-she... > Where did a trillion euros go? > https://www.nytimes.com/2020/04/01/business/france-coronavir https://www.nytimes.com/2020/04/01/business/france-coronavir... > I cant find where that money went. I suspect France's inflation won't be bad and while it does appear not under control at the moment, it probably will level off soon. We know since the subprime crisis and the subsequent quantitative easing, that this doesn't cause inflation. Some people have been very vocal for years in the 2010 - 2015 era about how “while it does appear not under control at the moment, it probably will level off soon”. then they eventually became quiet because they where tired embarrassing themselves. Money doesn't work the way you think it does, and inflation is never a monetary phenomenon no matter what uncle Friedman repeated. Now we have a significant supply and demand issue at global scale and things like this drive price high, unless you're Switzerland and you've got FX rates going in your favor (almost 10% this year), which drive price down. Covid also have had an unexpected effect on inflation: price increases are usually not reflected faithfully by CPI because of this thing called “hedonic adjustment”, but if you disrupt the regular product release, then you've got nothing to “adjust” against and CPI starts reflecting real price and not adjusted ones.

littlestymaar 5y ago

Cherry picking a few countries is a good way to confirm your bias, but not a good one to make a good argument with. Many places in Europe didn't have a “basic income” equivalent as part of their pandemic response (for instance, France's response has been exclusively targeted at companies, to avoid layoffs and bankruptcy), and it didn't prevent inflation ramping up here too.

incomingpain 5y ago
>Cherry picking a few countries is a good way to confirm your bias, but not a good one to make a good argument with. True, flipside I'm not writing a doctoral thesis over here. >Many places in Europe didn't have a “basic income” equivalent as part of their pandemic response (for instance, France's response has been exclusively targeted at companies, to avoid layoffs and bankruptcy), and it didn't prevent inflation ramping up here too. Lets take a look. France is one that I have been specifically following more about human rights and not economics. France was very interesting, amnesty international wrote up a good article on human right violations in france that have been increasingly problematic. I couldn't even tell you how many protests have been made illegal and crushed. That was before covid even hit. So France is at 4.5% inflation and rising and 0% interest rate. https://tradingeconomics.com/france/unemployment-rate https://tradingeconomics.com/france/unemployment-rate Wow very high unemployment rate. 26.5 corporate tax is dropping. 45% personal. 20% sales. So tax burden went from 98% to 91%. No wonder they are dropping a bit... you work for the government most of the year. https://tradingeconomics.com/france/government-debt-to-gdp https://tradingeconomics.com/france/government-debt-to-gdp Doesn't the EU demand this number be much lower? https://tradingeconomics.com/france/money-supply-m3 https://tradingeconomics.com/france/money-supply-m3 They didnt print money any significant money. But they did? https://tradingeconomics.com/france/central-bank-balance-sheet https://tradingeconomics.com/france/central-bank-balance-she... Where did a trillion euros go? https://www.nytimes.com/2020/04/01/business/france-coronavirus-unemployment.html https://www.nytimes.com/2020/04/01/business/france-coronavir... I cant find where that money went. I suspect France's inflation won't be bad and while it does appear not under control at the moment, it probably will level off soon. If I were a journalist in France I would be looking for that trillion euros.
- littlestymaar 5y ago
  > France is one that I have been specifically following more about human rights and not economics. France was very interesting, amnesty international wrote up a good article on human right violations in France that have been increasingly problematic. Yep, and I'm a bit baffled that international media talks really little about it. Macron looks a lot more like Erdoğan than to Bidden or Trudeau, but for some reason international media don't talk about him in that terms. > I couldn't even tell you how many protests have been made illegal and crushed. I was part of the third Yellow-vest Saturday protest, and the police reactions was a bit surreal. It got even nastier afterwards, as the government really decided to crack the protest down by police brutality (and mass arrests: up to 2000 in one day, such a figure sounds like Putin's Russia) > So tax burden went from 98% to 91%. No wonder they are dropping a bit... you work for the government most of the year. You've just completely misread the figures… 45% is the total “tax burden”, but even calling it “tax” is not right since the majority of it (25 of those 45%) are in fact payments for pensions and health insurance. > https://tradingeconomics.com/france/money-supply-m3 https://tradingeconomics.com/france/money-supply-m3 > They didnt print money any significant money. > But they did? https://tradingeconomics.com/france/central-bank-balance-she https://tradingeconomics.com/france/central-bank-balance-she... > Where did a trillion euros go? > https://www.nytimes.com/2020/04/01/business/france-coronavir https://www.nytimes.com/2020/04/01/business/france-coronavir... > I cant find where that money went. I suspect France's inflation won't be bad and while it does appear not under control at the moment, it probably will level off soon. We know since the subprime crisis and the subsequent quantitative easing, that this doesn't cause inflation. Some people have been very vocal for years in the 2010 - 2015 era about how “while it does appear not under control at the moment, it probably will level off soon”. then they eventually became quiet because they where tired embarrassing themselves. Money doesn't work the way you think it does, and inflation is never a monetary phenomenon no matter what uncle Friedman repeated. Now we have a significant supply and demand issue at global scale and things like this drive price high, unless you're Switzerland and you've got FX rates going in your favor (almost 10% this year), which drive price down. Covid also have had an unexpected effect on inflation: price increases are usually not reflected faithfully by CPI because of this thing called “hedonic adjustment”, but if you disrupt the regular product release, then you've got nothing to “adjust” against and CPI starts reflecting real price and not adjusted ones.