3 ms·

Here's another way NOT to fight inflation: https://katv.com/news/nation-world/14-states-approve-stimulus-checks-as-inflation-continues-to-rise-california-georgi

Here's another way NOT to fight inflation: https://katv.com/news/nation-world/14-states-approve-stimulus-checks-as-inflation-continues-to-rise-california-georgia-brian-kemp-colorado-delaware-hawaii-idaho-illinois-indiana-covid-biden-university-of-miami-pandemic-gas-prices-tax-rebate https://katv.com/news/nation-world/14-states-approve-stimulu... To help citizens deal with inflation, 14 states are giving them free money. Giving people free money is what caused inflation.

Ygg2 4y ago
Aren't other non-US states also in inflation?
- mpyne 4y ago
  Yes, but didn't many of them also engage in some level of stimulus spending due to the impact of COVID on the ability to work? And even without, if it is true that Americans are trying to point all the world's supply chains to feed their increasing demand for stuff, that's still going to affect prices in the rest of the world, by leaving people in the rest of the world competing for a lower supply of stuff (since more of it is being ducted to the U.S.). Unless suppliers are able to increase production to fill the overall higher demand, that is, but that just gets us back into supply chain issues caused by higher demand as a possible cause for inflation.
autoexec 4y ago
> To help citizens deal with inflation, 14 states are giving them free money. Giving people free money is what caused inflation. Yeah no. Not even a little. I know there's a narrative that Americans are just sitting on huge piles of cash and have too much money and it's tanking the economy, but it's pure bullshit. Pandemic stimulus money probably did play some role, but that would be the corporate welfare, not the money that went into the hands of regular Americans who lost their jobs and couldn't work forcing them to live off of saving, or go into debt just to survive, or the 20 million Americans who just months ago were at risk of ending up on the streets. (https://www.cbsnews.com/news/eviction-19-million-americans-risk-moratorium-coronavirus/ https://www.cbsnews.com/news/eviction-19-million-americans-r...). The idea that these people "just have too much money" is beyond absurd. The pandemic (which still rages) was a huge financial blow to a lot of people who are even now absolutely in need of aid. The pittance that most Americans got from Trump wasn't enough to cover their rent during the time they were unable to work. The checks that came from Biden were not enough for them to claw out of the financial hole covid dug either. Out of desperation and a deep longing for normalcy after years of suffering and going without some of the little things that make life worthwhile there is now a lot of demand that the supply chain can't support, and a lot of companies profiteering and price gouging. That can't entirely be blamed for inflation either, but it has more to do with the problems we see today than a couple 1k checks going to poor people did, and arguing that people who are genuinely struggling shouldn't get the help they need today in order to try and save the bank accounts of obscenely rich people "struggling" in this economy is sick.
- petilon 4y ago
  Some help was justified, but the stimulus benefits were just too high. Companies struggled to hire because workers could earn more money on unemployment [1]. And that was when the pandemic was in full swing. Giving people free money today is not justifiable. If you give free money to help citizens counter inflation, that only cements the inflation. It is basic supply-and-demand principle. When people have more money, demand goes up, while supply remains constant (due to supply chain issues and so on). This causes prices to rise. To counter inflation that money should instead be spent on resolving the supply chain issues: When stores have too much stuff, they will slash prices [2]. [1] https://www.businessinsider.com/stimulus-unemployment-benefits-fuel-hiring-struggles-companies-say-2021-4 https://www.businessinsider.com/stimulus-unemployment-benefi... [2] https://www.wsj.com/articles/stores-have-too-much-stuff-heres-where-theyre-slashing-prices-11655170243 https://www.wsj.com/articles/stores-have-too-much-stuff-here...
  - autoexec 4y ago
    > It is basic supply-and-demand principle. When people have more money, demand goes up, while supply remains constant Again, "demand" here means paying off credit card debit they needed to rack up to keep food on their tables and paying their rent to keep a literal roof over their heads. People who need the stimulus money aren't the problem. Companies are blaming stimulus money for their hiring problems along with everything else they can think of besides their own abusive behavior and terrible pay/benefits. Why wouldn't they? Covid made it crystal clear to people that companies don't care about them, or their safety. Can we blame people for not rushing back to them to be underpaid and treated like garbage? > A federal program that paid $600 a week in unemployment benefits for part of 2020 meant that two-thirds of people collecting benefits made more than they had when they were employed If you make so little money working that $600 is more than you'd earn after working 40 hours (including benefits like health insurance) you should stay home. That's not a problem with too much help for people, it's a problem with terrible terrible wages. When workers refuse to get a job for less than they need to survive that's supply and demand working too. We're just starting to see wages go up because of it. The wake up call of Covid has also helped pushed calls for unions.
throwoutway 4y ago
You gotta love it when the second paragraph, quoting the supposed “expert” starts with “I think” and guesses the states have an unexpected surplus without actually checking any numbers

Ygg2 4y ago

Aren't other non-US states also in inflation?

mpyne 4y ago
Yes, but didn't many of them also engage in some level of stimulus spending due to the impact of COVID on the ability to work? And even without, if it is true that Americans are trying to point all the world's supply chains to feed their increasing demand for stuff, that's still going to affect prices in the rest of the world, by leaving people in the rest of the world competing for a lower supply of stuff (since more of it is being ducted to the U.S.). Unless suppliers are able to increase production to fill the overall higher demand, that is, but that just gets us back into supply chain issues caused by higher demand as a possible cause for inflation.

autoexec 4y ago

> To help citizens deal with inflation, 14 states are giving them free money. Giving people free money is what caused inflation. Yeah no. Not even a little. I know there's a narrative that Americans are just sitting on huge piles of cash and have too much money and it's tanking the economy, but it's pure bullshit. Pandemic stimulus money probably did play some role, but that would be the corporate welfare, not the money that went into the hands of regular Americans who lost their jobs and couldn't work forcing them to live off of saving, or go into debt just to survive, or the 20 million Americans who just months ago were at risk of ending up on the streets. (https://www.cbsnews.com/news/eviction-19-million-americans-risk-moratorium-coronavirus/ https://www.cbsnews.com/news/eviction-19-million-americans-r...). The idea that these people "just have too much money" is beyond absurd. The pandemic (which still rages) was a huge financial blow to a lot of people who are even now absolutely in need of aid. The pittance that most Americans got from Trump wasn't enough to cover their rent during the time they were unable to work. The checks that came from Biden were not enough for them to claw out of the financial hole covid dug either. Out of desperation and a deep longing for normalcy after years of suffering and going without some of the little things that make life worthwhile there is now a lot of demand that the supply chain can't support, and a lot of companies profiteering and price gouging. That can't entirely be blamed for inflation either, but it has more to do with the problems we see today than a couple 1k checks going to poor people did, and arguing that people who are genuinely struggling shouldn't get the help they need today in order to try and save the bank accounts of obscenely rich people "struggling" in this economy is sick.

petilon 4y ago
Some help was justified, but the stimulus benefits were just too high. Companies struggled to hire because workers could earn more money on unemployment [1]. And that was when the pandemic was in full swing. Giving people free money today is not justifiable. If you give free money to help citizens counter inflation, that only cements the inflation. It is basic supply-and-demand principle. When people have more money, demand goes up, while supply remains constant (due to supply chain issues and so on). This causes prices to rise. To counter inflation that money should instead be spent on resolving the supply chain issues: When stores have too much stuff, they will slash prices [2]. [1] https://www.businessinsider.com/stimulus-unemployment-benefits-fuel-hiring-struggles-companies-say-2021-4 https://www.businessinsider.com/stimulus-unemployment-benefi... [2] https://www.wsj.com/articles/stores-have-too-much-stuff-heres-where-theyre-slashing-prices-11655170243 https://www.wsj.com/articles/stores-have-too-much-stuff-here...
- autoexec 4y ago
  > It is basic supply-and-demand principle. When people have more money, demand goes up, while supply remains constant Again, "demand" here means paying off credit card debit they needed to rack up to keep food on their tables and paying their rent to keep a literal roof over their heads. People who need the stimulus money aren't the problem. Companies are blaming stimulus money for their hiring problems along with everything else they can think of besides their own abusive behavior and terrible pay/benefits. Why wouldn't they? Covid made it crystal clear to people that companies don't care about them, or their safety. Can we blame people for not rushing back to them to be underpaid and treated like garbage? > A federal program that paid $600 a week in unemployment benefits for part of 2020 meant that two-thirds of people collecting benefits made more than they had when they were employed If you make so little money working that $600 is more than you'd earn after working 40 hours (including benefits like health insurance) you should stay home. That's not a problem with too much help for people, it's a problem with terrible terrible wages. When workers refuse to get a job for less than they need to survive that's supply and demand working too. We're just starting to see wages go up because of it. The wake up call of Covid has also helped pushed calls for unions.

throwoutway 4y ago

You gotta love it when the second paragraph, quoting the supposed “expert” starts with “I think” and guesses the states have an unexpected surplus without actually checking any numbers