| Yogthos

Vietnam is sentencing corrupt bankers to death, by firing squad - this one sparks joy.

USA: Pay raises are getting smaller. That could be a good thing for workers. - this one does not spark joy.

Like 17 Jul 2022 at 13:51 | Open on mas.to

3 comments

@yogthos current inflation is not driven by demand, or the idea of too much money chasing too few goods. Most people are already far to poor. Instead it is driven by supply scarcity, whether disruption of supply chains, war, etc.

17 Jul 2022 at 13:54 | Open on fosstodon.org

Yogthos

@tychosoft I'm also amused how raising rates is always peddled like the only possible solution. Back in the 70s even Nixon admin did price controls.

17 Jul 2022 at 13:57 | Open on mas.to

DELETED

@yogthos indeed. There may actually even be valid inflation scenarios where raising rates makes sense. This is clearly NOT one of them. Price controls could be a valid policy, clearly it would not be economically destructive, unlike raising rates is.

17 Jul 2022 at 14:05 | Open on fosstodon.org

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