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There's literally just too much money. Covid involved creating many trillions of dollars right when it was about time for a recession. What those dollars are
by colechristensen 2y ago
There's literally just too much money. Covid involved creating many trillions of dollars right when it was about time for a recession. What those dollars are doing now that they can't just be easily taken back is... well inflation and booming stock markets and nobody getting a raise.
- lifestyleguru 2y agoIndeed, none of these trillions land in my bank account. Massive part of this surplus also goes into military spending caused by recent wars.
- badpun 2y agoUS military spending is up by only 10-15% compared to pre-COVID levels.
- harambae 2y agoTotal military spending in 2019 was approximately $746 billion (including the DoD, nuclear weapons spending under the DoE, and other defense-related activities). The projected defense spending for 2024 is around $891 billion. So roughly 19.4% in total defense spending over that five-year period. Which is not chump change, considering how high it was before.
- colechristensen 2y agoThat 19.4% increase is very near to the inflation between 2019 and 2024.