2 ms·

They might have contributed, a bit (all they did was replace income from salaries with equivalent income in unemployment money, and cover some enterprise's expe

by sofixa 4y ago

They might have contributed, a bit (all they did was replace income from salaries with equivalent income in unemployment money, and cover some enterprise's expenses; the only monetary difference was coming from those who used to spend a lot of money going out to bars and stuff, who couldn't anymore), but let's not kid ourselves. The main reason for the booming inflation is Russia's invasion of Ukraine and resulting boom in prices of many raw materials, including very important ones like foodstuffs and energy, which are factored in the prices of pretty much everything. I don't understand the people who are hell bent on ignoring that and pinning all the blame on monetary policy. If you really want to blame someone, blame Putin.

pclmulqdq 4y ago
Several prominent economists at Harvard looked at inflation in countries that did and didn't send out stimulus checks. The numbers ranged from 4% to 8%, with stimulus checks strongly correlating with higher inflation. The math disagrees: there was going to be high inflation due to the pandemic and the Ukraine war, but stimulus policies accounted for the majority of the damage.
- sofixa 4y ago
  Do send out the study. The fact that you're talking about stimulus checks means either you or them are talking about the US, which couldn't be farther in how it handled the pandemic from the EU, which is the topic of the discussion. There are no checks here, we aren't stuck in the past. And all was handled at another layer by preventing layoffs by covering payroll and other expenses for companies instead of allowing layoffs and then sending checks through the mail like it's the 1950s. And yes, the delayed spending and the some extra money will result in inflation, of course. But the impact from the prices of all sorts of crucial raw materials is probably much higher.

by sofixa 4y ago

pclmulqdq 4y ago

Several prominent economists at Harvard looked at inflation in countries that did and didn't send out stimulus checks. The numbers ranged from 4% to 8%, with stimulus checks strongly correlating with higher inflation. The math disagrees: there was going to be high inflation due to the pandemic and the Ukraine war, but stimulus policies accounted for the majority of the damage.

sofixa 4y ago
Do send out the study. The fact that you're talking about stimulus checks means either you or them are talking about the US, which couldn't be farther in how it handled the pandemic from the EU, which is the topic of the discussion. There are no checks here, we aren't stuck in the past. And all was handled at another layer by preventing layoffs by covering payroll and other expenses for companies instead of allowing layoffs and then sending checks through the mail like it's the 1950s. And yes, the delayed spending and the some extra money will result in inflation, of course. But the impact from the prices of all sorts of crucial raw materials is probably much higher.