4 ms·

the covid-era money printing is one of the biggest causes of today's inflation (but granted there are a few more). This is like high-school level econ here.

by riffic 2y ago

bitxbitxbitcoin 2y ago
Whenever I see “high-school level Econ” being cited, I wonder if Econ is even taught in most American high schools, it certainly wasn’t in mine.
- not2b 2y ago
  The phrase should be read as "oversimplified Econ". If it were just about the money supply, increasing interest rates, which reduces money supply by suppressing loans, as well as the end to the money handouts during the shutdown, would have been enough to take care of it. But there's also market concentration which has allowed big players to raise prices a lot more than their costs have been raised, increasing their profits.
- riffic 2y ago
  from the following link (Council for Economic Education), there are 28 states requiring students to take a course in economics to graduate. https://www.councilforeconed.org/policy-advocacy/survey-of-the-states/ https://www.councilforeconed.org/policy-advocacy/survey-of-t... https://www.forbes.com/sites/lizfrazierpeck/2024/04/01/2024-cee-survey-of-the-states-show-progress-for-financial-education/ https://www.forbes.com/sites/lizfrazierpeck/2024/04/01/2024-...
snarf21 2y ago
Agreed, it was a choice between a depression or inflation so we printed. It is also driven by industry consolidation leading to price gouging as there is no longer effective market competition.
- jfyi 2y ago
  Agreed, though there was a perfect target sitting right in the middle. Not that I am blaming anyone, I think it was handled pretty well. It seems to me that people fail to realize it's only an easily balanced equation when looking at it historically and a shit show looking forward.
- mrguyorama 2y ago
  A significant amount of the covid stimulus going to grift and fraud was always the inevitable outcome for that administration. They explicitly removed any auditing provisions from the bill before it passed.
angst_ridden 2y ago
That, and record corporate profiteering.

the covid-era money printing is one of the biggest causes of today's inflation (but granted there are a few more). This is like high-school level econ here.

by riffic 2y ago

the covid-era money printing is one of the biggest causes of today's inflation (but granted there are a few more). This is like high-school level econ here.

bitxbitxbitcoin 2y ago

Whenever I see “high-school level Econ” being cited, I wonder if Econ is even taught in most American high schools, it certainly wasn’t in mine.

not2b 2y ago
The phrase should be read as "oversimplified Econ". If it were just about the money supply, increasing interest rates, which reduces money supply by suppressing loans, as well as the end to the money handouts during the shutdown, would have been enough to take care of it. But there's also market concentration which has allowed big players to raise prices a lot more than their costs have been raised, increasing their profits.
riffic 2y ago
from the following link (Council for Economic Education), there are 28 states requiring students to take a course in economics to graduate. https://www.councilforeconed.org/policy-advocacy/survey-of-the-states/ https://www.councilforeconed.org/policy-advocacy/survey-of-t... https://www.forbes.com/sites/lizfrazierpeck/2024/04/01/2024-cee-survey-of-the-states-show-progress-for-financial-education/ https://www.forbes.com/sites/lizfrazierpeck/2024/04/01/2024-...

snarf21 2y ago

Agreed, it was a choice between a depression or inflation so we printed. It is also driven by industry consolidation leading to price gouging as there is no longer effective market competition.

jfyi 2y ago
Agreed, though there was a perfect target sitting right in the middle. Not that I am blaming anyone, I think it was handled pretty well. It seems to me that people fail to realize it's only an easily balanced equation when looking at it historically and a shit show looking forward.
mrguyorama 2y ago
A significant amount of the covid stimulus going to grift and fraud was always the inevitable outcome for that administration. They explicitly removed any auditing provisions from the bill before it passed.

angst_ridden 2y ago

That, and record corporate profiteering.