beetlejuice's ghoulish wifeSomething that I finally learned in 2022 is that we absolutely know how to end poverty in the United States of America, and we could easily do so in a surprisingly short period of time, for less money than we are currently spending now to ameliorate the effects of poverty. We explicitly do not end poverty because capitalism depends on the existence of a large immiserated group of workers
The thing that finally made it clear to me was this, from the president of the Federal Reserve Bank of Kansas City, talking about why they were continuing to hike interest rates despite inflation slowing down: because too many families have SAVINGS. The things that you were always told you were supposed to have, that in fact if you didn't have you were FAILING as an ADULT. The problem was always with you.
Except that it turns out that normal every day people actually having savings is such an existential threat to the economy that the fed will raise interest rates up to the point of actually triggering a recession just to make sure you're living hand to mouth your entire life
Randy Burgertime@mark welcome to the party.
Brandon "Dreg Mangler" Kirkman@mark I hope I never stop getting angry at this system. We have a large group of marginalized workers to both make the machine run while pitting them against other marginalized groups so that they don't rise up against the oppressors using this system. On top of it all, they do this shit so that the marginalized workers can't really do anything else other than work and complain about the rat race
Peat Bog@mark
Can we install a limiter on the economy knob-turning machine, that prevents the knob fiddlers from fucking with families making less than, say, $100,000?
If we need to move piles of money from point A to point B to keep the economy going, surely we can find some point A fat stacks that aren't under Joe School Teacher's bed.
filipa mv@mark federal reserve coming out and saying too many people have jobs and their wages are rising too quickly!!! Powell literally waging class warfare lest i come get redistributed too much
KatjaRammer@mark so it’s about bleeding those who still have a bit of liquid money dry in order to feed the shareholders, widening the gap ever more.
Classic capitalism move.
Classic capitalism move.
Coffee Pinewood
Bunnyjadwiga@mark when they said the quiet part out loud about needing to squelch wage increases to stifle purchasing & demand in order to force inflation down (even though it's completely clear that we've been a *supply* crisis, not a demand crisis), I broke.
Especially since I know that increasing the cost of credit increases business costs for small businesses.
Letting the Fed exclusively try to manage inflation and unemployment, rather than using taxation and regulation as well, is ruining us.
Especially since I know that increasing the cost of credit increases business costs for small businesses.
Letting the Fed exclusively try to manage inflation and unemployment, rather than using taxation and regulation as well, is ruining us.