I cant belive my man thinks rasing intrest rates will do anything to combat wages going up due..... too...
- 1 million dead Americans due to rona( and counting)
- Rising class conscious due to how rona was handled
- 54 million boomer Americans are gonna be dead in less then a decade due to age
- Stagnate casino econmy predicated on cheap labor + imperialism × decaying gentocracy
Whats the plan Man? How you gonna fix this shit once it crashes, how many times is he gonna quatativly ease him self when inflation is rampant and not gonna respond to increassd intrest rates. Go Volcker suck on these these nuts
Go crazy tell me where you think the ecomy is going
maybe because higher interest rates and a shitfucked economy disproportionately hurts working class people since a shitfuck economy involves layoffs?
to say nothing of how higher interest rates result in the debt of the working class accelerating and compounding even faster
and inflation doesn't?
I don't really want to argue about which hurts the people more (it's 8% inflation btw) but if raising rates causes job loss (which I think we know it's a pretty tenuous correlation anyway) that doesn't mean it's not still a net benefit to people. Inflation also effects living indoors and feeding yourself. There's a point where raising rates crosses from net good to net harm and I'm pretty sure that point is not a 0.75% hike after a decade of 0%
neither is particularly great. inflation without wage increases is horrible, but it will also continue to ramp up to varying extents as america declines regardless of what the interest rates are.
lower interest rates = lower speed of compounding debt, which tends to affect all of us. increasing interest rates almost always leads to higher unemployment and in america, that means more death and social murder as people fall into economic collapse.
ok well the hike is a month old so I guess we'll see. It certainly isn't a 1:1 correlation. I'm saying there's at least enough slack that you can start to nudge up after a decade near zero wouldn't you agree?
Not to sound dismissive but a recession phase of higher unemployment isn't the end of the world or else the world has ended 30 times now. Meanwhile we haven't experienced an inflationary period since like Carter or whatever. Did you hear JP said like "we're finally understanding how little we understand about inflation"? JP could be a hexbear for all the underestimating he does on inflation 😘
that is pretty callous for the many people who become unemployed and can’t pay their bills. one of the things I dislike about economics nerds is the removal of the human factor
ultimately we’ll see either way. I hope the minimum amount of people are harmed regardless :shrug-outta-hecks:
well it's like 'don't ever raise interest rates because it might cause a recession'. When has there ever NOT been another recession? That's what this ride does.