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
I once took a class where for an entire semester, the professor just dissected the 2008-09 financial crisis. One conclusion I took was that even at the time, economists more or less understood the problems and understood the solutions. Where the big disagreement were was on which solution was the most realistic to implement. Like, most economists (who weren't Milton Friedman acolytes) may have thought the Swedish solution of straight up nationalizing the banks temporarily was a pretty great idea. But also not really a political possibility in the US. So there was unity on the understanding of the problems and even to some extent on the costs/benefits of different solutions, just a question of what could be done.
As far as I can tell, economists can't even agree that there are real, serious, structural problems right now. And if they agree there are problems, they can't agree on what those problems are. And if they can agree on what they problems are, they can't agree on what to do about it or even if something can be done. So I'm convinced something's gonna bite us the ass that will be obvious in hindsight but economists won't pick up on till it's too late.
I will say though, for decades interest rates have been one of if not THE big tool of economic policy, because rates have always been high enough to be lowered. If economic policy is GoldenEye then interest rates are like the RCP-90 or AR-15: super powerful, reliable, and always there. Now interest rates basically can't be lowered if they need to stimulate the economy, so just at the start of a downturn the Fed won't have their #1 weapon, which is really bad news for avoiding a big recession.
I was thinking about this when I made the post. The economists of the US are indoctrinated into a religion apeing that of an ideology.
Years and years of learning about this market, yet failing to even consider the labour side of the line. It's so odd. Completely irrational.
I was thinking about the interest rate as well. Would they go negative in an attempt to make line go up one last time?
Helicopter cash
For businesses of course, not for you
The trump tax cuts were more or less this
It feels like the money lords know that this country is now a "bad investment" so they're seeing how high they can get the line before leaving the citizens holding the bag.
No one is doing shit or even talking about it. It's a pump and dump lmao
I was actually listening to a highlight from Coast To Coast (lol, so not the most serious thing in the world) and they had this financial analyst talking about how the economy is literally bullshit ATM and the crypto speculation and everything else going on is going to lead to crash as bad if not worse than the 1920's crash https://open.spotify.com/episode/1FYBXDFIdDqwFJiD6XMcYr?si=q-aouKzmTEO5VbnLVAyt1A&utm_source=copy-link
Wow what a blast from the past. Are they still going and are they still mostly harmless cranks? It seems so pure and archaic in today’s world of weaponized reactionary conspiracism
I don't listen to the radio show but only these highlights, but it's pretty much all supernatural crank shit from what I can tell
Oh shit it's a best of coast to coast podcast, it's like my dream. Had no idea this existed hell ya
There is no plan. They fundamentally believe the thing just works and that if it ever stops just working the Rs will come bail out the libs in keeping it barely afloat.
They don't understand acceleration, the declining rate of profit, or that the systems they assume are immovable can fall over in a few weeks if they let them get fucked up enough.
you will eat by and by
work and pray, live on hay
you get pie in the sky when you die
im drunk and watching Battle of Lake Changjin and it fucking owns
oh wait the plan? for the US? :sit-back-and-enjoy:
the plan is make off with the sack before the flood walls break
Long Term: Military takeover with bipartisan support after Miami loses drinking water
Short Term: Another 2008 level recession on top of the after effects of the covid recession and majority of the population suffering from long covid
Same! There always seems to be an underlying current of “I’m trying to tell you how to prevent the guillotines from coming out” in his talks directed at more PMC types.
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.
I guess lol
It's well passed short-sighted and entering into purposefully crashing into a wall territory
No plan. The system is moving ever closer to 100% default mode and just reacting to developments in the pandemic - reacting poorly, obviously. Senate is gridlocked and Biden has committed to nagging people as the only real option for addressing.
What changes you'll see from agencies and other arms of the government will not be groundbreaking, just standard tweaks to ensure owners get what you have.
The concept of this is hard for me to keep in my head for some reason... because of old brain worms making me think economists, even capitalist ones, are rational actors in some fashion.
I have to remember this whole thing is akin to a religion, bought into by the capitalists originally and passed down to their sons and daughters.
If I look at them as, say, priests of the Catholic church it starts to make a bit more sense to me.
They're following a doctrine and refusing to, less face eternal damnation (not making assloads of cash), look at the situation in any other way.
I did two semesters, micro/macro, thus that's where the brain worms came from. Hilarious how little the word labour was even mentioned.
Good news is it caused me to get depressed and drop out
The plan with the economy (as with COVID, the climate and pretty much everything else) is to kick the can down the road, preferably long enough for it to become someone else's problem.
It has worked fine until now so it'll probably keep working. :shrug-outta-hecks:
You can kick it indefinitely. They'll just cut checks until the US enters a currency crisis or something, and that could be decades away. A nice little war in Central Asia or the South China Sea is also a high-risk, high-reward situation if we really gotta get out there and get it how we live it.
A recession with massive necessity price increases and a failing supply chain on top of the covid situation seems like something you cannot ignore, logically, but this whole thing is made up so maybe you're right.
It seems like we'll hit a boiling point though, socially speaking, as its hard for me to imagine it getting a whole lot worse before that, but maybe I lack imagination
Biden's priorities are currently telling social media companies to stop misinformation "in their shows" and trying to start a nuclear war with Russia. So yeah, the can is being kicked and will be until the leg stops working.
Their plan is to take money away from consumers. Seriously. They think the problem is people have too much money.
I mean, they are kinda correct. Production has no way to meet demand, which means, to them, that people have too much money to have that demand. Very typical austerity logic. The problem is, that if that IS the solution, then the American Dream is not only well and truly dead (which has been obvious to the downwardly mobile middle class), but it has been crucified and put on display for all to see.
American Dream is not only well and truly dead
well if you don't like it then well....leave?!....wait... uhhh...
goddamnit
Well, some people DO have too much money... just not the ones they're thinking of.
