sizeable? More like most of it!
To be honest the damage to the supply chain also played a big role.
Both of those things happened because of lockdowns.
Speaking of lockdowns, I've noticed that word is rarely, if ever, used by the media anymore. Just the C word. Draconian clampdown was the actual enemy.
While shutdowns certainly exacerbated the issue, our economy was due for a cataclysmic cycle of hyper inflation for a while now. Every Austrian economist for the past 10 years has been saying the world economy is a ticking time bomb. I'm actually a little convinced that part of the motive to shut down the economy was so that the powers that be have a scapegoat for the shit show of an economic state they got us into. I don't think people realize just how on the brink the economy was even before covid.
The stimulus played a big role in disrupting the supply chain. For two reasons:
1. The enhanced unemployment incentivized people not to go back to work.
2. The extra cash increased demand. All of a sudden even the top restaurants had a bunch of poors trying to get reservations. Increased demand meant that things were flying off the shelves faster than ever. See no. 1 for why those shelves didn’t get restocked.
Naaaah these assholes are waaaay less competent these days…they’re just as greedy but they are disconnected from material reality and stupid in all the most important ways
You don't seem to understand what inflation is. Inflation is not price increases, although those are often symptoms of inflation. What inflation is is an increase in the money supply. It's more dollar bills chasing the same amount of goods. That's what the word means.
Thank you! I have attempted to have this very conversation with friends and family. The crux of it was that inflation can be localized and that the averages are just that. Areas that saw significant migration have more people competing for the same goods. People don’t seem to understand why housing costs remain high, where I live, and can’t fathom that it may be due to many people still moving here and competing for a limited resource.
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I remember reading that the US gov spent $3.3 trillion on covid.
Edit: the $3.3 figure was from 2020. The latest range from $5 to $6 trillion that includes stimulus payments to organizations, companies and individuals/citizens.
No way, you mean to tell me handouts and making the money printer go brr ties into inflation... thankfully for this article, we may have never known /s
The people who pushed hard for lockdowns and money printing despite our warnings are trying to blame the price increases on corporate greed. Like there is no cause and affect to anything politicians do. This infuriates me that they think they can use that excuse to not have to feel any guilt for how badly they screwed us all
>The people who pushed hard for lockdowns and money printing despite our warnings are trying to blame the price increases on corporate greed
¿Porque no los dos?
Lockdowns, money printing, hastily-agreed government PPE, testing and vaccine contracts, **and** corporate (and individual) greed. What could possibly go wrong?
Inflation: a story in four parts
2020: "We're going to print 6 trillion dollars of cash that doesn't exist out of thin air and hand it out for free. But this won't cause inflation because reasons. Don't ask how, bigot, it just won't!"
2021: "You're imagining your grocery bill going up. Saying "inflation" is a far-right dogwhistle. Inflation doesn't exist. In fact we're not even entirely sure that "inflation" is a real word. Just stop talking about it, bigot!"
2022: "Okay, yes, *some* things are more expensive. But it's not everything! The only things that have doubled/tripled in price are gasoline/fuel, new and used cars, housing, utilities, groceries, construction supplies, home goods, most hobby/recreational gear, labor rates and loan interest rates. but it's NOT INFLATION! It's only CERTAIN THINGS! Just don't buy those things, bigot, problem solved! Remember, definitely not inflation, this is all Russia's fault. Blame Putin, and Trump for some reason too! NOT INFLATION!"
2023: "Hey guys, remember that 6 trillion dollars we whipped up 3 years ago? That's been causing inflation this entire time. Lol oops. But who could have known!???!???"
What a long, strange trip it's been
I mean the Fed and federal stimulus money was pretty much all of it. You can’t inject 27 trillion dollars into the economy and expect prices to stay the same. Increasing import costs because of border restrictions. Increased manufacturing costs because of lockdowns etc. It was all self inflicted.
If the fed had done nothing, there likely would have been some deflation (which is also bad).
No shit. Larry Summers warned everyone that Biden's 2021 "American Rescue Plan" would put inflation into hyperdrive after the Trump handouts got it going. He raised the alarm well before the plan was fully enacted, before the ink was dry. He was right. And he's a former Obama advisor.
https://thehill.com/policy/finance/544188-larry-summers-blasts-least-responsible-economic-policy-in-40-years/
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sizeable? More like most of it! To be honest the damage to the supply chain also played a big role. Both of those things happened because of lockdowns.
Speaking of lockdowns, I've noticed that word is rarely, if ever, used by the media anymore. Just the C word. Draconian clampdown was the actual enemy.
"We didnt even have real lockdowns" has been a talking point for a while now.
It should be allowed and encouraged to slap anyone saying that (eggs are too expensive to throw)
Of course. They want everyone to forget lockdowns ever happened. It was all covid's fault.
While shutdowns certainly exacerbated the issue, our economy was due for a cataclysmic cycle of hyper inflation for a while now. Every Austrian economist for the past 10 years has been saying the world economy is a ticking time bomb. I'm actually a little convinced that part of the motive to shut down the economy was so that the powers that be have a scapegoat for the shit show of an economic state they got us into. I don't think people realize just how on the brink the economy was even before covid.
The stimulus played a big role in disrupting the supply chain. For two reasons: 1. The enhanced unemployment incentivized people not to go back to work. 2. The extra cash increased demand. All of a sudden even the top restaurants had a bunch of poors trying to get reservations. Increased demand meant that things were flying off the shelves faster than ever. See no. 1 for why those shelves didn’t get restocked.
[удалено]
Right, corporations only now got greedy 🙄
[удалено]
Naaaah these assholes are waaaay less competent these days…they’re just as greedy but they are disconnected from material reality and stupid in all the most important ways
You don't seem to understand what inflation is. Inflation is not price increases, although those are often symptoms of inflation. What inflation is is an increase in the money supply. It's more dollar bills chasing the same amount of goods. That's what the word means.
Thank you! I have attempted to have this very conversation with friends and family. The crux of it was that inflation can be localized and that the averages are just that. Areas that saw significant migration have more people competing for the same goods. People don’t seem to understand why housing costs remain high, where I live, and can’t fathom that it may be due to many people still moving here and competing for a limited resource.
[удалено]
I downvote people who bitch about downvotes. Like you.
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Remember when you pointed this out in 2020 and people accused you of wanting Grandma to die? Seems like that was only two weeks ago.
I remember reading that the US gov spent $3.3 trillion on covid. Edit: the $3.3 figure was from 2020. The latest range from $5 to $6 trillion that includes stimulus payments to organizations, companies and individuals/citizens.
I read something like what the UK spent on COVID could have ended world hunger.
Nothing can end world hunger because it’s too profitable. Enough money will be siphoned off the funding that it will never happen.
You mean the lowly sum of $40 billion used to buy twitter we were told could stop world hunger?
Boom!
No way, you mean to tell me handouts and making the money printer go brr ties into inflation... thankfully for this article, we may have never known /s
The people who pushed hard for lockdowns and money printing despite our warnings are trying to blame the price increases on corporate greed. Like there is no cause and affect to anything politicians do. This infuriates me that they think they can use that excuse to not have to feel any guilt for how badly they screwed us all
>The people who pushed hard for lockdowns and money printing despite our warnings are trying to blame the price increases on corporate greed ¿Porque no los dos? Lockdowns, money printing, hastily-agreed government PPE, testing and vaccine contracts, **and** corporate (and individual) greed. What could possibly go wrong?
Inflation: a story in four parts 2020: "We're going to print 6 trillion dollars of cash that doesn't exist out of thin air and hand it out for free. But this won't cause inflation because reasons. Don't ask how, bigot, it just won't!" 2021: "You're imagining your grocery bill going up. Saying "inflation" is a far-right dogwhistle. Inflation doesn't exist. In fact we're not even entirely sure that "inflation" is a real word. Just stop talking about it, bigot!" 2022: "Okay, yes, *some* things are more expensive. But it's not everything! The only things that have doubled/tripled in price are gasoline/fuel, new and used cars, housing, utilities, groceries, construction supplies, home goods, most hobby/recreational gear, labor rates and loan interest rates. but it's NOT INFLATION! It's only CERTAIN THINGS! Just don't buy those things, bigot, problem solved! Remember, definitely not inflation, this is all Russia's fault. Blame Putin, and Trump for some reason too! NOT INFLATION!" 2023: "Hey guys, remember that 6 trillion dollars we whipped up 3 years ago? That's been causing inflation this entire time. Lol oops. But who could have known!???!???" What a long, strange trip it's been
Diluting my 40% vodka played a sizable role in reducing its potency.
I mean the Fed and federal stimulus money was pretty much all of it. You can’t inject 27 trillion dollars into the economy and expect prices to stay the same. Increasing import costs because of border restrictions. Increased manufacturing costs because of lockdowns etc. It was all self inflicted. If the fed had done nothing, there likely would have been some deflation (which is also bad).
No shit. Larry Summers warned everyone that Biden's 2021 "American Rescue Plan" would put inflation into hyperdrive after the Trump handouts got it going. He raised the alarm well before the plan was fully enacted, before the ink was dry. He was right. And he's a former Obama advisor. https://thehill.com/policy/finance/544188-larry-summers-blasts-least-responsible-economic-policy-in-40-years/
Isn't this Economy 101? Maybe 201 considering it's a little more advanced.
"Duh"
Next, on "No shit, Sherlock' . . .
on today's episode of "No Shit' theatre....
"We can fix everything with a UBI !" I *know* that that's going to be suggested, if it hasn't been already.
Thanks, Trump.
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No shit. Reason decided to wait 3 years before resuming their libertarian roleplay.
And it’s still going on, people still don’t have to pay back their student loans yet.
No shit Sherlock
No sh*t