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Pick one or the other. We could have taken our medicine then or now. Turns out we are going to take it now. Yelling at the void isn't going to change that.
by anm89 4y ago
Pick one or the other. We could have taken our medicine then or now. Turns out we are going to take it now.
Yelling at the void isn't going to change that.
- arcticbull 4y agoYou're missing my point. It wasn't ever a case of 'medicine now or then' - we took the medicine before. It worked. Then some other stuff nobody could have foreseen (for real who had land war in Europe on their 2022 bingo card) caused a separate and in many ways unrelated crisis. The mistake is blending them together into one just because they happened back to back. Further, dealing with a massive deflationary spiral and everyone being out of work is fundamentally significantly harder than tackling supply-driven inflation. Inflation rates are already coming down significantly. The last monthly CPI print came in at 3.6% annualized, and month-over-month PPI came in at 0% for services and 1.3% for goods (driven by commodities of course). You are treating the $4T as a 'liability' without considering what it purchased. You're reading half a balance sheet. Spending can be inflationary or deflationary depending on what it's used for - and so many other factors. Japan has printed huge quantities of new money since 1990 and their CPI has been ~0% for the last 30 years. [1] [1] https://fred.stlouisfed.org/series/JPNCPIALLMINMEI https://fred.stlouisfed.org/series/JPNCPIALLMINMEI
- anm89 4y agoNo point was missed.