why do libs act like I gotta memorize their whole fucking wiki just to have a seat at the table
does quantitative tightening help fight inflation? maybe! will reserve requirements and savings bonds help? I don't know! does pissing on a fire help put it out? maybe?!
do you know? no you don't! you're just repeating shit you heard from more credentialed libs! who are usually doing the exact same! and if you follow this chain of deference all the way to the top you'll probably land on some sort of bank executive! so cringe! no thanks!!
sometimes making things simpler also makes them more correct. minecraft your tyrants. that is all thank you for listening
Monetary policy is actually an incredibly powerful tool of class oppression. I think it’s worth learning a bit about. Like for instance the explicit goal of raising interest rates is to raise unemployment and thus keep wages down. Essentially engineering recession to reduce the power of labor relative to capital. They say it’s to combat inflation, and that is true in a sense, but only because it destroys demand by impoverishing people, thus eliminating any theoretical benefit a worker would derive from inflation going down in the first place. Central banks being ostensibly independent and apolitical, while having explicitly pro capital anti labor mandates is also a good lesson in how liberal ideology hides the ball. You’re right that it’s all bullshit of course. But I think it’s useful to know how they use that shit to screw us over.
Literally every mainstream economist believes what Marx said about the unemployed being a reserve army of labour, even though they don't admit it and think it's a good thing
Precisely. The wild part is that if you listen to Jerome Powell talk, he basically DOES admit this, going on about the actual GOAL of getting unemployment up to a level acceptable for capital. It is widely reported in the financial press but tends to be mysteriously unreported and unquestioned in the more liberal mainstream press outlets.
today i learned something. thank you.