The increase of prices in our daily lives is representative and symbolic of the greater total collapse soon to occur. The increase among 'the parts' is symbolic of the crash of the greater 'whole,' aka the entire American Empire. The great economic collapse is a function of metaphysical cyclical history, the eternal recurrence as Nietzsche wrote, where we are now seeing and feeling the breakdown of decades and decades worth of gross over spending and debt accumulation. No one or nothing can stop the inevitable financial collapse. The only questions is when?
I know this is an old post but I just have to chime in on your misunderstanding of macroeconomics. Yes, printing lots of money can cause inflation, but not necessarily. If all the new money goes right to all the billionaires who own all the politicians how would that increase prices? Even those mild one time checks they sent out aren't capable of generating sustained inflation. The mainstream / libertarian view is that inflation is because average people have been able to consistently negotiate higher wages to keep up with inflation. Does that sound realistic in this dystopian hellscape with pathetically low union membership?
The real reason is that covid shutdowns and Russia sanctions messed up supply chains causing shortages, which results in higher prices. Then once inflation started getting news coverage every single company realized that they could raise prices even more. We know they did this, they bragged about it on shareholder calls. Record profit margins. https://mattstoller.substack.com/p/corporate-profits-drive-60-of-inflation
So as usual the policy response is to increase the fed funds rate with the deliberate intention to throw people out of work.
You are correct on the government spending = 'printing money'
But that is always true, and taxation destroys money. There is no such thing as the national debt, the (consolidated) government can create bonds or cash at will. The only limits are the goods and workers that are available for the spending.
The increase of prices in our daily lives is representative and symbolic of the greater total collapse soon to occur. The increase among 'the parts' is symbolic of the crash of the greater 'whole,' aka the entire American Empire. The great economic collapse is a function of metaphysical cyclical history, the eternal recurrence as Nietzsche wrote, where we are now seeing and feeling the breakdown of decades and decades worth of gross over spending and debt accumulation. No one or nothing can stop the inevitable financial collapse. The only questions is when?
I know this is an old post but I just have to chime in on your misunderstanding of macroeconomics. Yes, printing lots of money can cause inflation, but not necessarily. If all the new money goes right to all the billionaires who own all the politicians how would that increase prices? Even those mild one time checks they sent out aren't capable of generating sustained inflation. The mainstream / libertarian view is that inflation is because average people have been able to consistently negotiate higher wages to keep up with inflation. Does that sound realistic in this dystopian hellscape with pathetically low union membership?
The real reason is that covid shutdowns and Russia sanctions messed up supply chains causing shortages, which results in higher prices. Then once inflation started getting news coverage every single company realized that they could raise prices even more. We know they did this, they bragged about it on shareholder calls. Record profit margins. https://mattstoller.substack.com/p/corporate-profits-drive-60-of-inflation
So as usual the policy response is to increase the fed funds rate with the deliberate intention to throw people out of work.
You are correct on the government spending = 'printing money'
But that is always true, and taxation destroys money. There is no such thing as the national debt, the (consolidated) government can create bonds or cash at will. The only limits are the goods and workers that are available for the spending.
They level of unemployment is a dependent variable that the government can set. If you want to know why they consistently choose to keep unemployment high you should read this. (I think you will actually like it. https://www.nakedcapitalism.com/2012/08/kalecki-on-the-political-obstacles-to-achieving-full-employment.html