Is it just this? It's gonna stop working lol, it already is
What is the US response to supply chain and job market collapse?
Are they just so fucking up their own ass they aren't seeing the issue? I do not understand
https://www.cnbc.com/2022/01/12/cpi-december-2021-.html
That's a 7% inflation lol. Thats across the board too, I'm sure certain markets are higher.
Food and housing are rising at 07-08 levels, but they're just shrugging at it
Like that ain't gonna work without some kind of interference from the fed. What the fuck is the response
The federal reserve will raise interest rates, this will make inflation go down, but it will slow the down the growth of the economy, make sure more firms go bankrupt and it ensures more unemployment. The problem is that the profitability (outside of speculation) hasn't gone up since the Great Recession of 2008. We're facing a permanent dilemma between high inflation and moderate growth, or low inflation and the absence of growth (and thus higher unemployment).
The solution is obvious: tax large fortunes, and use that excessive wealth to finance a green transition, but the short-term interests of the capitalist class prevent that, so we're stuck here.
COVID plus the Boomer Retirement is addressing potential unemployment problems. We're looking at a steadily contracting labor force going into the next decade - possibly the next generation.
But the solution America is angling for isn't growth, its control. Putting labor in a cage it can't break out of, like a century ago when WW1 and WW2 ushered in a golden age for worker's unions. That means we're going to pass through a period of "degrowth" that is considered "good". We're going to put a handful of private interests in charge of trillions of dollars of disposable income, while forcing workers to register into some kind of dystopian piece-work system spanning the entire economy. And the only way you can get anything resembling a slice is to work for them.
Total market consolidation is on the horizon. The economic singularity, so to speak. A retrenchment of the aristocratic class and an abandonment of growth economics in favor of pure command of exigent capital.