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So the rest work harder, which means less dollars for more work, which makes prices go down (or rather: not rise quite as quickly). Banks can't fix things, they
by candiodari 4y ago
So the rest work harder, which means less dollars for more work, which makes prices go down (or rather: not rise quite as quickly). Banks can't fix things, they can just cause more pain on poor people, so they fix things.
That inflation is mostly caused by oil prices, and no amount of extra work by people will make oil prices drop ... This is why we've had recessions before, this is why it's happening now ... is something the central banks or government cannot influence, and therefore this "cannot" be the cause (granted, this is true but doesn't provide a solution, so from a utilitarian perspective one might agree with this).
The FED is making things worse, but hasn't yet been sufficiently scared into turning things around. The stock market is only ~20% down, and they usually turn things around at about a 35% drop. So we're already past the halfway point, and FANGs (except FB/META) are holding out quite well, so they seem to be safe harbors.