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Maybe they got pissed because it was still kind of a bad take? The imperfect stimulus you can actually achieve is indeed sometimes better than the UBI that isn'

Maybe they got pissed because it was still kind of a bad take? The imperfect stimulus you can actually achieve is indeed sometimes better than the UBI that isn't coming anytime soon.

syshum 5y ago
It was not a bad take, the stimulus packages have directly attributed to the massive inflation we have now, despite the Biden Administrations attempt to blame everything on Putin..
- IX-103 5y ago
  That's unfortunately true, though the the reduced productivity from the pandemic was another major factor. The increase in money supply provided by the stimulus, particularly the portion that went to economic segments with significant remaining marginal utility for the goods and services included in inflation measures (e.g. poor people that haven't been getting enough essentials) likely is a large driver of the initial inflationary pressure. The additional economic inefficiencies from the job-swapping and slow hiring coming out of the pandemic were also major factors. I don't, however, think that one-time stimulus could maintain the current inflation, which is probably due more to the hiring difficulties and natural positive feedback loop that maintains inflationary economies. Of course, if we hadn't diverted so much of the economic gains from the past decades to the wealthy and instead allowed a proportional increase across the economic strata, I expect the inflationary effect of the economic stimulus would have been far less muted (since there would have been much less pent up demand).
robonerd 5y ago
Maybe people should try to be less pissed at bad takes. Everybody is wrong about something, and when you're dealing with a platform that exposes you to thousands of beliefs a day, you'll be constantly exposed to people who are wrong about something from your perspective. If you let somebody being wrong on the internet whip you up into a rage, I think that's a highway to unending Pain Town.

Maybe they got pissed because it was still kind of a bad take? The imperfect stimulus you can actually achieve is indeed sometimes better than the UBI that isn't coming anytime soon.

syshum 5y ago

It was not a bad take, the stimulus packages have directly attributed to the massive inflation we have now, despite the Biden Administrations attempt to blame everything on Putin..

IX-103 5y ago
That's unfortunately true, though the the reduced productivity from the pandemic was another major factor. The increase in money supply provided by the stimulus, particularly the portion that went to economic segments with significant remaining marginal utility for the goods and services included in inflation measures (e.g. poor people that haven't been getting enough essentials) likely is a large driver of the initial inflationary pressure. The additional economic inefficiencies from the job-swapping and slow hiring coming out of the pandemic were also major factors. I don't, however, think that one-time stimulus could maintain the current inflation, which is probably due more to the hiring difficulties and natural positive feedback loop that maintains inflationary economies. Of course, if we hadn't diverted so much of the economic gains from the past decades to the wealthy and instead allowed a proportional increase across the economic strata, I expect the inflationary effect of the economic stimulus would have been far less muted (since there would have been much less pent up demand).

robonerd 5y ago

Maybe people should try to be less pissed at bad takes. Everybody is wrong about something, and when you're dealing with a platform that exposes you to thousands of beliefs a day, you'll be constantly exposed to people who are wrong about something from your perspective. If you let somebody being wrong on the internet whip you up into a rage, I think that's a highway to unending Pain Town.