patriots317 t1_jebm3i3 wrote
Reply to comment by diefreetimedie in The Fed Raised Rates But The Economy Is Cooling: Understanding The Current Macro Situation by HorrorCharacter5127
They have literally been telling us exactly that. They show projected Higher unemployment. Have you watched any of the meetings ?
diefreetimedie t1_jebxj7l wrote
I have, that wasn't the lie, the lie is that this is to contain "inflation" that came about due to government spending actually helping working people. And they'd have you believe inflation has nothing to do with the record profits being recorded in just about every major industry.
patriots317 t1_jeby0ze wrote
Inflation weakens the dollar. There will always be higher profits. That’s how it works. Costs of goods go up. Profits go up.
diefreetimedie t1_jebzfvi wrote
Sure, if it was just inflation then that's kind of accurate, when we see cost of goods going up as well as record profits, that shit is price gouging. Record profits I'm talking about are much higher than the 10% inflation accounts for.
patriots317 t1_jebzyeo wrote
Yeah and what were they for some companies during Covid? Some companies got killed. You need to do what you can to survive. They can only raise prices and make such a high profit or they will be undercut by a competitor or buyers will move on or we go into a real recession and profit margins reset because people can’t afford as much and companies will take what they can get.
diefreetimedie t1_jec1pdy wrote
What planet do you live on? I'm old enough to remember the bastards being bailed out during the 08 recession. Recession is big business for those 1%ers. Ask the ten folks from SVB who got 13bil when their bets didn't hold up to rate hikes. Those losers failed their way right on up.
patriots317 t1_jec1yr1 wrote
You’re the 1% when talking about world population.
diefreetimedie t1_jec379a wrote
First of all, doubt. And B: we're not talking about that, we're talking specifically about US Fed and fiscal policies.
So thanks but no thanks on the reductive straw man argument.
patriots317 t1_jec3vsi wrote
😂 only cares and matters when you use the numbers to your advantage and can point the finger. Got it.
diefreetimedie t1_jec4mx0 wrote
You don't know what the heck you're talking about. You said I'm top 1% of global population? This link above says you're full of it. I can find more if you want to take another shot?
patriots317 t1_jec739v wrote
That’s selected territories and countries ….. you don’t wanna count the actual poor do you?
diefreetimedie t1_jec8gc5 wrote
https://www.cnbc.com/2018/11/01/how-much-money-you-need-to-be-part-of-the-1-percent-worldwide.html
Still not there yet and this 2018, you're sadly proving my point while losing your own argument in the weeds.
[deleted] t1_jec8sjc wrote
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diefreetimedie t1_jecavuu wrote
Ok, while I'd love to send you more reading material I don't think we have all of the data necessary for me to completely irrefutably disprove your bullshit. Are we just name calling because we're upset or would you like to continue what I was talking about regarding the US Fed policy and the media's "inflation" narrative?
[deleted] t1_jecb5hi wrote
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diefreetimedie t1_jecbqi9 wrote
They didn't print money they moved a decimal on a computer and sent checks out. I know you have a hard time accepting that the dollar is a fiat currency but it's been that way for a while now, and the US government can pay for whatever it has the will and labor to do. Tell me, how do you feel about ten folks at SVB getting a mulligan on their $13 billion gamble?
[deleted] t1_jeccdy8 wrote
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diefreetimedie t1_jecd5ab wrote
[deleted] t1_jecdkj7 wrote
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diefreetimedie t1_jechpni wrote
Of course, I momentarily forgot the term "depositors"
Still pretty wild how the US back stopped them and so fast, I wonder how precedent will work going forward. Do think this "spending" will drive inflation more? By how many more basis points until jpow is happy with the unemployment numbers? This is a good opportunity for you to share your perspective but you only wanted to comment on what equates to a grammatical error.
[deleted] t1_jecit9u wrote
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diefreetimedie t1_jeck9kw wrote
None of it is "taxpayer money" it is all US dollars of which the government creates. You're going to say anything except that the real problem around inflation is price gouging. It's a long way to go to beat around that bush but I respect it, a little.
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