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Congress dumped boatloads of money into the economy over the past two years and failed to provide oversight. Everyone is pointing at the Fed for causing inflat
by mywittyname 5y ago
Congress dumped boatloads of money into the economy over the past two years and failed to provide oversight.
Everyone is pointing at the Fed for causing inflation and ignoring the fact that Congress gave business owners five-to-seven figure payouts in straight cash. You can find out how much businesses around you received from the PPP, and there's no shortage of small companies who received a few hundred grand in aid.
Imagine what you'd do with a $250k check from the government.
- jandrese 5y agoI think there is more than one reason for the current inflation. The supply crunch is one factor. The stimulus is another. In particular the Biden stimulus is considerably different than the Trump stimulus in that it gave the money to people who would spend it on goods and services instead of people who would just stuff it into their market accounts. This caused a demand spike right at a time when supply was unusually constrained. Unfortunately as the stimulus was known to be a short term thing this did not lead to people starting factories to make products to sell. By the time they got it running the stimulus would run out and they would be left holding the bag.