General Politics Discussion (IX) [ARCHIVED] • Page 1129

That's definitely part of it, but Jason Furman had a few good tweet threads the last two days that got into why that's not as much of the problem as you might think. I can't find the first one I'm thinking of at the moment but this one gets into it a bit too (it also uses a supply curve graph which made me happy because I have to teach these in econ lol)

 

Barret talks about this here about 2 hours in, or 15 minutes ago as of now:

 

Found the other Furman thread....

He says at the end he's not updating his views on these topics because he thinks it's simple supply/demand and not changes in corporate greed, but.....It does make me think about #1 a little bit more. Maybe fiscal stimulus IS less effective than I tend to believe because of that. Like if we stimulate people via fiscal policy, maybe it's not as effective as it could be because firms just raise prices to increase profits instead of resulting in more of the product being bought? IDk.....I guess the sheer quantities of things being bought right now kind of goes against that

 

nah climate change is more like a giant meteor about to hit earth, or so i've been told

 

I read that some truckers are gonna try to do a convoy in LA prior to the Super Bowl.

Good luck with that, hope you like your semis burned down

 

But, voting year.

 

And how is this NOT corporate greed?

 

well that was his point—that if you’re blaming all or most of the inflation on opportunitlstic corporate greed, than the logic of that means you need to revisit some of your prior economic policy convictions like the ones he listed there

 

Or prohibit companies from raising prices during times of extreme economic hardship that call for economic stimulus to the vast majority of people.

Plus his point seemed to be that inflation was not caused by corporate greed when the first factor he listed for contributing to inflation was a prime example of corporate greed in action.

 

But that type of widespread price control is never going to happen in the US, so that means when you enact these policies/beliefs, it’s going to be a danger——IF you believe the current inflation is being widespread caused by said opportunistic corporate greed. He’s not saying those things are contributing to inflation NOW, he’s saying they WOULD if you believe they = more corporate greed, and more corporate greed = inflation. And his last tweet in the thread that I didn’t post said he doesn’t believe it’s any of those things and instead it’s just a classic case of imbalanced supply and demand.

i think then the argument becomes, okay, what has caused the imbalance? Right wingers/supply siders will blame the loose monetary policy and, more en vogue now, the fiscal policy of stimulus/robust social safety net/etc. Abd while that does make some sense from an economic theory standpoint, it’s imo just a right wing oversimplification of the problem trying to ignore the huge huge wildcard of the pandemic and everything it has done the last two years, first and foremost the huge pent up demand it created with people not spending money outside of the house/spending more time at their homes and realizing they wanted to update durable goods/etc. But also, if demand increases, yes prices will go up but also in a healthy economy, supply would also increase to try to find new equilibrium. But the supply chain is so fucked up by the pandemic and sick workers that it can’t quite keep up with the increased demand. At least that’s my take on it

 

make fun of me. I’m always cold

 

if scottie would unblock me he wouldve seen me post about this already :( cmon pal i think we'd get along a lot better now

 

@Jason Tate you messing with something with twitter embeds? They're all showing not found for me rn on all browsers

 

Didn't touch anything. Could be a Twitter issue.

Embeds working here? Overview

 

These don't load for me either, so that would indicate Twitter having problems themselves. Should fix itself automatically when they fix their shiz.

 

Twitter is having an issue beyond embeds it looks like, their site is all fucked up.