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It doesn’t really matter. It’s more money chasing the exact same number of resources as existed before hand. The very definition of inflation. It’s just bread

It doesn’t really matter. It’s more money chasing the exact same number of resources as existed before hand. The very definition of inflation. It’s just bread and circuses.

XorNot 4y ago
Again, it's less then 1 month's rent. Really think about what you're suggesting here.
- jahewson 4y ago
  It wasn’t $600 though: $1,200 per adult in April 2020, $500 per child. $600 per adult in December 2020/January 2021, same per child $1,400 per adult in March 2021, same per child. A fully qualified two adult, two child household received $11,400. For a median income of 2x $31k, that’s 9% of the household’s per annum income. If you both had a job during covid, as most people did, it’s pure inflation.
  - XorNot 4y ago
    This is just garbage. The demand for stimulus was in reaction to the increase in most expenses due to supply chain shortages induced by COVID and lockdowns, and the continuing hike in prices has been due to the follow up war. The record profits - not revenue but profits - the big companies have posted over this time period prove it. Inflation is measured via a basket of goods measure, and corporations have freely taken all those basics and gone "welp must be circumstance" while posting those profits. Prices surged before any stimulus was handed out.
crooked-v 4y ago
So take away some money from the 0.01% to compensate. Since that select group of people holds 20% of the total wealth in the US, there's plenty of wiggle room.
- Negitivefrags 4y ago
  This idea just shows the confusion most people have between resources and money. No matter how much you take away from those 0.01% of people, it’s not going to do much to fight the inflation of the goods that people are worried about the inflation of. Let’s take food for example. Perhaps the 0.01% might consume 10x more food than regular people at most (factoring in waste). Even if the 0.01% were to be taxed to the point where they can eat nothing, it’s not going to create very much more supply of food for everyone else. Then there is fuel. The ultra rich probably do consume a lot more of it when you factor in things like jet flights and such. But even if it’s 100x more, it’s not really freeing up so much to actually affect the market for it. Now what taxing those guys might do is reduce the price of the goods that they do in fact consume more of. Things like housing where the rich will own a lot in order to generate revenue. And indeed these productive assets were inflated significantly due to the loose monetary policy regime that we have been living in for some time. But these are not the resources that most are concerned about with regard to cost of living at the moment. That’s food, fuel, etc.
  - wikfwikf 4y ago
    Your claim is that the high price of housing is not one of the pressures on working class people???
    - chii 4y ago
      unless those housing is all owned by those 0.1%, how does taking away the wealth of say Bezos reduce the rent of working class people?
matwood 4y ago
> It’s more money chasing the exact same number of resources as existed before hand Because of supply chain issues, it's more money chasing fewer resources. I think people focus too much on the money supply and not enough on supply chain shortages. IMO, the bump in stimulus money given would not have caused this level of inflation without also the decline in supply to go along with it.

It doesn’t really matter. It’s more money chasing the exact same number of resources as existed before hand. The very definition of inflation. It’s just bread and circuses.

XorNot 4y ago

Again, it's less then 1 month's rent. Really think about what you're suggesting here.

jahewson 4y ago
It wasn’t $600 though: $1,200 per adult in April 2020, $500 per child. $600 per adult in December 2020/January 2021, same per child $1,400 per adult in March 2021, same per child. A fully qualified two adult, two child household received $11,400. For a median income of 2x $31k, that’s 9% of the household’s per annum income. If you both had a job during covid, as most people did, it’s pure inflation.
- XorNot 4y ago
  This is just garbage. The demand for stimulus was in reaction to the increase in most expenses due to supply chain shortages induced by COVID and lockdowns, and the continuing hike in prices has been due to the follow up war. The record profits - not revenue but profits - the big companies have posted over this time period prove it. Inflation is measured via a basket of goods measure, and corporations have freely taken all those basics and gone "welp must be circumstance" while posting those profits. Prices surged before any stimulus was handed out.

crooked-v 4y ago

So take away some money from the 0.01% to compensate. Since that select group of people holds 20% of the total wealth in the US, there's plenty of wiggle room.

Negitivefrags 4y ago
This idea just shows the confusion most people have between resources and money. No matter how much you take away from those 0.01% of people, it’s not going to do much to fight the inflation of the goods that people are worried about the inflation of. Let’s take food for example. Perhaps the 0.01% might consume 10x more food than regular people at most (factoring in waste). Even if the 0.01% were to be taxed to the point where they can eat nothing, it’s not going to create very much more supply of food for everyone else. Then there is fuel. The ultra rich probably do consume a lot more of it when you factor in things like jet flights and such. But even if it’s 100x more, it’s not really freeing up so much to actually affect the market for it. Now what taxing those guys might do is reduce the price of the goods that they do in fact consume more of. Things like housing where the rich will own a lot in order to generate revenue. And indeed these productive assets were inflated significantly due to the loose monetary policy regime that we have been living in for some time. But these are not the resources that most are concerned about with regard to cost of living at the moment. That’s food, fuel, etc.
- wikfwikf 4y ago
  Your claim is that the high price of housing is not one of the pressures on working class people???
  - chii 4y ago
    unless those housing is all owned by those 0.1%, how does taking away the wealth of say Bezos reduce the rent of working class people?

matwood 4y ago

> It’s more money chasing the exact same number of resources as existed before hand Because of supply chain issues, it's more money chasing fewer resources. I think people focus too much on the money supply and not enough on supply chain shortages. IMO, the bump in stimulus money given would not have caused this level of inflation without also the decline in supply to go along with it.