☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to US News@lemmygrad.ml • 4 months agoIs the Fed Behind the Curve? As Unemployment Rises, Worries Mount.external-linkmessage-square7 fedilinkarrow-up114file-textcross-posted to: newsusa@lemmy.ml
arrow-up114external-linkIs the Fed Behind the Curve? As Unemployment Rises, Worries Mount.☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to US News@lemmygrad.ml • 4 months agomessage-square7 Commentsfedilinkfile-textcross-posted to: newsusa@lemmy.ml
minus-squareknfrmity@lemmygrad.mlhexbear7·4 months agoI thought the ruling class wants higher unemployment, as a "worker discipline device." https://theintercept.com/2023/01/24/unemployment-inflation-janet-yellen/ linkfedilink
minus-square☆ Yσɠƚԋσʂ ☆@lemmygrad.mlhexagonhexbear6·4 months agoIt's one of the core contradictions. Keeping the rates high is a way to build out a reserve army of labour, but it's also destroying the consumer market which underpins the whole system. linkfedilink
I thought the ruling class wants higher unemployment, as a "worker discipline device."
https://theintercept.com/2023/01/24/unemployment-inflation-janet-yellen/
It's one of the core contradictions. Keeping the rates high is a way to build out a reserve army of labour, but it's also destroying the consumer market which underpins the whole system.