This whole story to me is a sobering and depressing tale of just how effective propaganda is, even with a relatively well-educated and informed audience here on

This whole story to me is a sobering and depressing tale of just how effective propaganda is, even with a relatively well-educated and informed audience here on HN. Why do I say that? Because for months I've been saying this but typically such comments get downvoted into oblivion. So many people even here are seemingly unwilling to pause for a few seconds and consider the evidence or simply to question the narrative that we need to raise interest rates or that it's our only tool for fighting inflation or that somehow wages are responsible for inflation. For the record, none of those things are true but yet so many people are conditioned to suck the boot of the capital-owning class, perhaps from the mistaken belief that those people are the capital-owning class or will be someday. You are not Elon Musk. You will never be Elon Musk. Elon Musk doesn't care about you. He would melt you down for parts if it meant an uptick in profits. In the 70s, with the oil price shock we had Nixon, a Republican, quite effectively tackle inflation with wage-price freezes. We've had some countries tackle greedflation with a windfall profits tax. Personally, I'd be happy enough with a mechanism that as long as inflation is above 4%, the corporate tax rate is 80% and all share buybacks and dividends are suspended. The capital-owning class (who own both parties in the US political system) have effectively decimated any form of labor solidarity so people vote against their own interests. Who doesn't vote against their interests? The capital-owning class.