3 ms·
Most people talk about the printing money aspect, and while that's definitely true, it needs to be bought into the context of the covid19 policies that exacerba
by sebow 4y ago
Most people talk about the printing money aspect, and while that's definitely true, it needs to be bought into the context of the covid19 policies that exacerbated the downfall of the economy. Printing money is one thing, but doing that to "cover costs" while also de facto slowing down to the point of stopping the economy is on another level. Add to this the fact that the white collar jobs that "seamlessly" moved to remote positions for people to work from home were kind of a bubble that kept of inflating with no corrections (especially crypto pyramids with no added value in the economy), you end up with this. From there to this day it was basically a matter of inflation spiraling out of control, because the reality is that a lot of green policies, monetary decisions, >new< regulations in the west make it really hard to do anything that's not part of the mentioned bubble.(Which hasn't fully bursted in my opinion, hoping i'm wrong)
And yes, let's also mention the stimulus checks that had more of a bad psychological impact on the working middle class. The total number wasn't that big though, compared to other gov. expenses. Let's not forget, US & Western european countries still have the "luxury" that their economies is more largely composed of industries that functioned during the lockdowns(IT, Entertainment,etc). With the exception of eastern asia, the rest of the world [where most of manufacturing & shipment takes place] did not.