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I dabble in news sources from both sides of the aisle and I've not heard the opinion that inflation is a result of poor people, only that its the result of a pe

I dabble in news sources from both sides of the aisle and I've not heard the opinion that inflation is a result of poor people, only that its the result of a perfect storm of the pandemic and an unjust war halfway across the world, which mostly makes sense... who is blaming the poor?

__john 4y ago
Everyone knows inflation is because of the stimmies. edit: /s
- ZoomerCretin 4y ago
  Often what everyone knows to be true and what is actually true are distinct.
- stusmall 4y ago
  I guess "everyone" is wrong. The huge influx of money is part of it but the current inflation doesn't have just one cause. There is a huge spike in energy costs partially from the war in Ukraine, partially from a decrease in production by the prices cratering in 2020 and partially from an increase in demand. There are huge supply chain problems everywhere. Massive labor shortages. I'm sure I'm missing some others. This isn't a simple problem with a simple cause.
- themitigating 4y ago
  That doesn't mean it's right and most people haven't researched this they are just told it by the media
lifeplusplus 4y ago
People mean poor people when targeting stimulus checks
Mountain_Skies 4y ago
It appears that one side is fantasizing about what they'd like the other side to say so they can attack on that. Of course, we're talking about a country of over 330 million so it is possible to find someone somewhere that holds any given opinion even if it's not widely shared.
- vkou 4y ago
  It's not a fantasy to observe that the right-wing of the American political spectrum spent most of 2020 and 2021 screaming about individual handouts and unemployment benefits, while only raising a token protest about PPP loans, and the firehose of money that the Fed started dumping into the capital markets, starting in March 2020. In reality, all of those steps were necessary to prevent economic disaster, but now that disaster has been averted, and wages started rising, everyone's clutching their pearls about inflation.
- jjoonathan 4y ago
  The "stimmies caused inflation" narrative doesn't just exist, it's widespread on the right. If you aren't hearing it, you probably have a small window. Reading Ground, for example. In any case, the team sports side of this is much less interesting than the part that transcends team sports: both sides devote more media attention to the smaller money printers. Not by a small margin, either. That's an interesting choice. Does submarine go blub? Or does making the big money printer boring and complicated completely cloak it from view? Either way, it's an impressive multi-trillion dollar sleight of hand.
fleetwoodsnack 4y ago
There are a number of fiscal and monetary mechanisms available to central governments and central banks respectively, which are used to spur economic activity and to relieve economic hardship: by directing government spending or by creating monetary liquidity. The assertion is not so much that poor people cause inflation; rather, that inflationary fiscal and monetary policies are often only recognized as such when they happen to benefit middle-to-lower income people. Example: PPP Covid programs which pay business owners billions is necessary and proper given the circumstances, but direct payments to taxpayers is not because it will cause inflation. In truth, they both provide relief, and they both contribute to inflation.
themitigating 4y ago
They blame government spending

__john 4y ago

Everyone knows inflation is because of the stimmies. edit: /s

ZoomerCretin 4y ago
Often what everyone knows to be true and what is actually true are distinct.
stusmall 4y ago
I guess "everyone" is wrong. The huge influx of money is part of it but the current inflation doesn't have just one cause. There is a huge spike in energy costs partially from the war in Ukraine, partially from a decrease in production by the prices cratering in 2020 and partially from an increase in demand. There are huge supply chain problems everywhere. Massive labor shortages. I'm sure I'm missing some others. This isn't a simple problem with a simple cause.
themitigating 4y ago
That doesn't mean it's right and most people haven't researched this they are just told it by the media

lifeplusplus 4y ago

People mean poor people when targeting stimulus checks

Mountain_Skies 4y ago

It appears that one side is fantasizing about what they'd like the other side to say so they can attack on that. Of course, we're talking about a country of over 330 million so it is possible to find someone somewhere that holds any given opinion even if it's not widely shared.

vkou 4y ago
It's not a fantasy to observe that the right-wing of the American political spectrum spent most of 2020 and 2021 screaming about individual handouts and unemployment benefits, while only raising a token protest about PPP loans, and the firehose of money that the Fed started dumping into the capital markets, starting in March 2020. In reality, all of those steps were necessary to prevent economic disaster, but now that disaster has been averted, and wages started rising, everyone's clutching their pearls about inflation.
jjoonathan 4y ago
The "stimmies caused inflation" narrative doesn't just exist, it's widespread on the right. If you aren't hearing it, you probably have a small window. Reading Ground, for example. In any case, the team sports side of this is much less interesting than the part that transcends team sports: both sides devote more media attention to the smaller money printers. Not by a small margin, either. That's an interesting choice. Does submarine go blub? Or does making the big money printer boring and complicated completely cloak it from view? Either way, it's an impressive multi-trillion dollar sleight of hand.

fleetwoodsnack 4y ago

There are a number of fiscal and monetary mechanisms available to central governments and central banks respectively, which are used to spur economic activity and to relieve economic hardship: by directing government spending or by creating monetary liquidity. The assertion is not so much that poor people cause inflation; rather, that inflationary fiscal and monetary policies are often only recognized as such when they happen to benefit middle-to-lower income people. Example: PPP Covid programs which pay business owners billions is necessary and proper given the circumstances, but direct payments to taxpayers is not because it will cause inflation. In truth, they both provide relief, and they both contribute to inflation.

themitigating 4y ago

They blame government spending