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All of this interest-rate hiking hasn't done squat to stop inflation. Why? Because the money supply isn't causing inflation. Oligopoly and monopoly are causing
by ShadowBanThis01 3y ago
All of this interest-rate hiking hasn't done squat to stop inflation. Why? Because the money supply isn't causing inflation. Oligopoly and monopoly are causing inflation, but those in power are too gutless or ignorant to call it out... and the news media long ago stopped doing any actual investigation or asking intelligent questions (with a couple of exceptions).
We all know the Republicans won't call it out, because they're corporate toadies. But the Biden administration hasn't either, except for a few limp complaints.
So now we have high interest rates AND high prices. Great work, "representatives."
- gloryjulio 3y agoDems are also corporate toadies. We can say it out.
- ShadowBanThis01 3y agoTo some extent, but it's a far lesser extent.
- gloryjulio 3y agoTo a lesser extent I agree. But I don't think it's far behind.
- seanmcdirmid 3y agoThey are. Especially these days as Republicans lean more heavily into culture wars and less into the economy (eg see DeSantis recent attacks on Disney and Anheuser-Busch), Democrats are becoming the pro business party.
- ShadowBanThis01 3y agoOh really? Based on what behavior? Remember that it's the Republicans who piss and moan about "illegals stealing our jobs," but refuse to require employers to use E-Verify. Why? Because the corporations they serve rely on cheap illegal labor. It's Republicans who oppose the government setting up the means for us to pay our taxes free online. Why? Because they're toadies to H&R Block and Intuit. They also opposed Net Neutrality. Why? Because they're toadies to telcos. Do you need more examples?
- gloryjulio 3y agoI don't think the plebs should taking side hard. Remember it's the dem who sabotage the repair law Louis Rossman fought so hard far. They are both bad, dems are less so. The plebs only have themselves to rely on
- ShadowBanThis01 3y agoI'm not familiar with that incident. I'd be interested to read about it if you have a link.
- gloryjulio 3y agohttps://www.youtube.com/watch?v=7xGBB-717AI https://www.youtube.com/watch?v=7xGBB-717AI It's on his channel
- ShadowBanThis01 3y agoThanks!
- whats_a_quasar 3y ago> hasn't done squat to stop inflation U.S. inflation is down to 3 percent in June from a high of 9% last year. You could argue that interest rate hikes didn't cause that change, but interest rates are the Occam's razor explanation. https://www.usinflationcalculator.com/inflation/current-inflation-rates/ https://www.usinflationcalculator.com/inflation/current-infl...
- ShadowBanThis01 3y agoThey've been jacking interest rates for quite a while to no avail. So now that prices are sky-high, the oligopolies have slowed their assault. "Reduced inflation" does nothing to roll back the disgusting price-gouging that has gone on for years now. So the gouging is decelerating. Whoop-dee-doo.