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Doesn't it actually help with inflationary spending? The Fed making a play at depressing wages and increasing unemployment is what's keeping inflation in check.
by ChrisHyung 3y ago
Doesn't it actually help with inflationary spending? The Fed making a play at depressing wages and increasing unemployment is what's keeping inflation in check.
God knows the rich won't ever pay their fair share.
- lynx23 3y agoFairness is an illusion in thsi universe, as is God.
- makeitdouble 3y agoThat reminds me of this hilarious interview of a British economist: https://www.bbc.co.uk/news/business-65308769 https://www.bbc.co.uk/news/business-65308769 > Somehow in the UK, someone needs to accept that they're worse off and stop trying to maintain their real spending power [...] You're both totally right that giving people enough money to live might increase the inflation. But that's not an option people are (rightly so) going to be happy with. "Just be miserable" is not a plan.
- musha68k 3y agoInflation seems to mainly be driven by corporate profits (>50%) in the first place: https://news.ycombinator.com/item?id=35795299 https://news.ycombinator.com/item?id=35795299 The current situation is completely absurd. In addition there also is no skin in the game here, over-hiring or other blunders on core leadership competencies don't matter at all as long as "shareholder value" isn't negatively affected in the short term.
- ChrisHyung 3y agoI'm not for crushing the American people to curb inflation either, but that's the play J Pow is making. From an economics perspective, it does help the construction worker if higher wage earners spend less money. I've been one of the people hurt most by this, and I'm not happy about it either. Software Developers doing mental gymnastics to align themselves with the investor elite instead of their fellow working class Americans is some shit.