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> greatest economic achievements in history. Who's achievement? This was a supply chain shock caused by COVID and war in Ukraine, then piggybacked by corporate
by ClumsyPilot 3y ago
> greatest economic achievements in history.
Who's achievement? This was a supply chain shock caused by COVID and war in Ukraine, then piggybacked by corporate collusion / greedflation.
Taising of interest rates achieved nothing, possibly made it worse by decreasing money supply avaliable to address supply chain bottlenecks. There is a good nimber of economists that support this viewpoint:
https://www.cnbc.com/2022/09/02/joseph-stiglitz-thinks-further-fed-rate-hikes-could-make-inflation-worse.html https://www.cnbc.com/2022/09/02/joseph-stiglitz-thinks-furth...
We are entering an era where economic dogma is anti-physical - when there is a shortage of energy our governments hike interest rates instead of adressing root of the problem, like building power plants or improving efficiency.
- jaidhyani 3y agoCompare the trajectory of the US to other industrialized countries. The best charts I could find on this are from an admittedly-biased think tank, but the sources it's pulling from are well-regarded and neutral: https://www.americanprogress.org/article/7-reasons-the-u-s-economy-is-among-the-strongest-in-the-g7/ https://www.americanprogress.org/article/7-reasons-the-u-s-e... The US also recently passed a massive investment in building out renewable energy.
- bryanlarsen 3y agoThe IRA is facilitating a massive build out of power plants and battery factories.