Yeah, I think you’re pretty spot on with “siege” as a metaphor. I dunno whether capital is being besieged or doing the besieging (a little of both honestly). No wonder that shits a classic fash title lol
Capital is doing the sieging imo. Inflation is a war of attrition to get people to be desperate again and willing to work for what the owners consider a "fair" wage.
Inflation helps asset prices and hurts cash savings, and workers tend to have a higher amount of cash relative to assets, whereas for the wealthy it's the opposite (they don't use bank accounts, they borrow cheap money to buy stocks and real estate).
Yeah, I think you’re pretty spot on with “siege” as a metaphor. I dunno whether capital is being besieged or doing the besieging (a little of both honestly). No wonder that shits a classic fash title lol
Capital is doing the sieging imo. Inflation is a war of attrition to get people to be desperate again and willing to work for what the owners consider a "fair" wage.
Inflation helps asset prices and hurts cash savings, and workers tend to have a higher amount of cash relative to assets, whereas for the wealthy it's the opposite (they don't use bank accounts, they borrow cheap money to buy stocks and real estate).