29 Jul 22
I was watching the PBS Newshour a couple of days ago and they were talking about why there is so much inflation. They mentioned a few things but omitted the money supply and how congress authorized the FRS to create over 1 trillion dollars out of nothing, which caused inflation.
The corporate news media doesn't want people to know government and the FRS created this inflation. Then they increased interest rates to fight the inflation they created. So not only do you have to pay more for almost everything, but now you have to pay more to borrow as well. All to fight what they created in the first place.
It is a scam. 90% of that money went to the very wealthy. The FRS created the inflation. Then they raise interest rates to fight what they created in the first place. It isn't really a secret, nor is it hard to prove. But there is an effort to keep the uniformed majority of people uniformed and mislead them.
Are you a sucker for economic propaganda or do you see the scam for what it is?
@metal-brain saidInflation isn’t down to one thing.
I was watching the PBS Newshour a couple of days ago and they were talking about why there is so much inflation. They mentioned a few things but omitted the money supply and how congress authorized the FRS to create over 1 trillion dollars out of nothing, which caused inflation.
The corporate news media doesn't want people to know government and the FRS created this in ...[text shortened]... and mislead them.
Are you a sucker for economic propaganda or do you see the scam for what it is?
There are demand issues, supply issues, the printing of extra money, wage increases, etc.
Any source telling you it’s down to one thing is wrong.
29 Jul 22
@shavixmir saidI don't disagree with that. Price fixing is a factor too, but they didn't mention that either. What is the main cause though? It was the increase in the money supply.
Inflation isn’t down to one thing.
There are demand issues, supply issues, the printing of extra money, wage increases, etc.
Any source telling you it’s down to one thing is wrong.
You are defending listing everything but the main cause. That means you are defending propaganda by omission. Shame on you!
01 Aug 22
President Biden continues to absolve himself of responsibility for the fact that his gargantuan $1.9 trillion pandemic-relief package likely contributed to the current record-breaking inflation.
https://www.nationalreview.com/news/biden-denies-massive-spending-fueled-record-inflation-the-idea-is-bizarre/
$1.9 trillion created out of nothing isn't the main cause of inflation?
Come on shav. You know better.
Their propaganda isn't even very good, but shav has low standards when it comes to believing lies.
@metal-brain saida) The pandemic stimulus checks started in April of 2020 when Trump was president.
President Biden continues to absolve himself of responsibility for the fact that his gargantuan $1.9 trillion pandemic-relief package likely contributed to the current record-breaking inflation.
b) Trump's tax cuts that mostly benefited the rich cost $2.3 trillion:
https://www.politico.com/story/2018/02/28/tax-cuts-trump-gop-analysis-430781
@metal-brain saidThat’s the point. There isn’t a main cause.
I don't disagree with that. Price fixing is a factor too, but they didn't mention that either. What is the main cause though? It was the increase in the money supply.
You are defending listing everything but the main cause. That means you are defending propaganda by omission. Shame on you!
It’s a serious of factors happening at the same time.
@vivify saidThe pandemic stimulus checks that started in April of 2020 when Trump was president did not cost 1.9 trillion dollars.
a) The pandemic stimulus checks started in April of 2020 when Trump was president.
b) Trump's tax cuts that mostly benefited the rich cost $2.3 trillion:
https://www.politico.com/story/2018/02/28/tax-cuts-trump-gop-analysis-430781
Were Trump's tax cuts that mostly benefited the rich create $2.3 trillion out of nothing by the FRS? If not, it did not cause inflation.
There is a way to reverse inflation that the corporate news media is not telling you about. Directly tax people $1.9 trillion (in addition to other money creation out of nothing by the FRS) and destroy the money so it is permanently out of circulation.
The reason there is inflation is because government did not want to directly tax people $1.9 trillion. They chose to indirectly tax people with inflation instead. Government chose inflation to pay for the weapons sent to Ukraine as well. That will take 4 to 8 months after the money was spent by the military industrial complex to give us more inflation. That was only 50 billion or so though, so when debating about it in congress some argued that it would not cause that much inflation.
I guess that is a lot less than $1.9 trillion, but think about it. That is over 50 billion in inflation we have not even seen yet. It is on the way. Nice to know, huh?
01 Aug 22
@shavixmir saidThere is a main cause, $1.9 trillion created out of nothing.
That’s the point. There isn’t a main cause.
It’s a serious of factors happening at the same time.
If you don't think that was the main cause of inflation in the USA create $1.9 trillion out of nothing and give it to me. There should be no problem.
01 Aug 22
@shavixmir saidIt is money over supply plain and simple. The symptoms are rising wages and prices (ahh but I repeat myself)
That’s the point. There isn’t a main cause.
It’s a serious of factors happening at the same time.
A closed economy on an island, There are 5000 units of value and $5000 to use as a tool of exchange the politician comes along and waves his wand another $5000 into the economy without producing anything of value, now there's $10000 to measure 5000 units of value. Everything costs twice as much, it takes some time but that is the equilibrium that will be reached.
If goobermint only allowed a dollar to be printed every time a unit of value were produced there'd be no inflation. Pretty sweet deal for the goobermint right, they don't produce anything but a piece of paper or now some bytes of information. But they can't help themselves and this is true of the dims and republicans in the US, Labour and National in NZ etc etc they all get greedy trying to buy votes with the majic money.
Bam,. money over supply inflation
Put the brakes on productive effort with lock downs (fewer units of value being produced)
Bam, money over supply inflation
Spend billions on self promotion some of that through public education (no units of value produced)
Bam, money over supply inflation
@metal-brain saidDo you see how your post contradicts itself if 90% of the money went to rich people then it’s not inflationary unless your concerned about the price of yacht’s going up or having to pay more to sit next to bezos on his next egotistical space flight.
I was watching the PBS Newshour a couple of days ago and they were talking about why there is so much inflation. They mentioned a few things but omitted the money supply and how congress authorized the FRS to create over 1 trillion dollars out of nothing, which caused inflation.
The corporate news media doesn't want people to know government and the FRS created this in ...[text shortened]... and mislead them.
Are you a sucker for economic propaganda or do you see the scam for what it is?
01 Aug 22
@metal-brain saidCorporate news media? The news hour doesn't air commercials and PBS is non profit.
I was watching the PBS Newshour a couple of days ago and they were talking about why there is so much inflation. They mentioned a few things but omitted the money supply and how congress authorized the FRS to create over 1 trillion dollars out of nothing, which caused inflation.
The corporate news media doesn't want people to know government and the FRS created this in ...[text shortened]... and mislead them.
Are you a sucker for economic propaganda or do you see the scam for what it is?
01 Aug 22
@wildgrass saidOkay, you got me on a technicality.
Corporate news media? The news hour doesn't air commercials and PBS is non profit.
It is still propaganda though and it is funded by corporations and foundations quite a bit so I would argue that there is little difference.
It used to be the corporate news media and mostly owned by billionaire John Carl Malone, MacNeil and Lehrer who retained editorial control.
01 Aug 22
@kevcvs57 saidThat is really dumb even for you.
Do you see how your post contradicts itself if 90% of the money went to rich people then it’s not inflationary unless your concerned about the price of yacht’s going up or having to pay more to sit next to bezos on his next egotistical space flight.
Not only does economics not work that way the rich people that got that money are the least affected by inflation. They own mostly stock shares, tangible assets and other inflation hedges.
Poorer people are disproportionately burdened by inflation.
Inflation is rapacious form of class warfare. Plutocracy at it's worst.
@metal-brain saidThat's a stupid thing to say. Of course it didn't reach $1 trillion by it's first month. That cost came after being used for a year and a half.
The pandemic stimulus checks that started in April of 2020 when Trump was president did not cost 1.9 trillion dollars.
The point remains that stimulus, which you claim caused inflation, was started by Trump.
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@metal-brain saidI am pleasantly surprised that you watch PBS NEWS, MB/
I was watching the PBS Newshour a couple of days ago and they were talking about why there is so much inflation. They mentioned a few things but omitted the money supply and how congress authorized the FRS to create over 1 trillion dollars out of nothing, which caused inflation.
The corporate news media doesn't want people to know government and the FRS created this in ...[text shortened]... and mislead them.
Are you a sucker for economic propaganda or do you see the scam for what it is?
Shav is correct on this one.
Printing money is a very small part of inflation.
If you get 5 top economists in a room, you're likely
as not to get 5 different opinions. Greenspan was a so-called
economic genius until the 2008 bust.
............I was surprised recently, to learn ,that,
'The Federal Reserve,' is a privately owned
quasi-governmental agency.
https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks.