Microblog Memes

5670 readers

1695 users here now

A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.

Created as an evolution of White People Twitter and other tweet-capture subreddits.

Rules:

Please put at least one word relevant to the post in the post title.
Be nice.
No advertising, brand promotion or guerilla marketing.
Posters are encouraged to link to the toot or tweet etc in the description of posts.

Related communities:

founded 1 year ago

MODERATORS

[email protected]

1119

Price gouging (i.ibb.co)

submitted 4 months ago by [email protected] to c/[email protected]

102 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[+] [email protected] -22 points 4 months ago (2 children)

actually, the inflation that's happening is because the US government keeps printing money just to dump into the stock market every couple of months

At the beginning of the pandemic when the stock market did a 90 degree drop, the government passed that one bill that printed $2,000,000,000,000 per day and dumped it into the stock market to keep it afloat.

That's where the inflation is coming from. Not millennials and Gen-Z getting living wages.

[–] [email protected] 13 points 4 months ago

I'm sorry, but the whole "inflation is a monetary phenomenon caused by excess money in the economy" neoliberal trope has been scientifically debunked so many times, that it's inexcusable that people throw it around.

Look at any serious study of the 2022 inflation and they all point to the same: rise in energy prices, bottlenecks in the supply chain, and companies artificially increasing prices above the increase in their operational costs to increase profit.

If you're still not convinced, please explain me how the fed creating dollars led to inflation in the Eurozone, or why if it's a monetary phenomenon, prices didn't increase homogenously in European countries that share the same currency.

[–] [email protected] 6 points 4 months ago

To people who don't watch the stock market: this didn't happen. The "government" can't physically print that much money per day. And even if it could, stock exchanges don't accept cash.

The money supply increased about $3.5 trillion in 2020, as you can see in this chart. Nowhere near $2 trillion per day.

Also, the US Treasury and the Federal Reserve (separate organizations) don't buy stocks. They buy Treasury Bonds or sometimes mortgage backed bonds, although that last happened during the 2008-9 recession.

After reducing the federal funds target close to zero during the financial crisis, the FOMC turned to another type of policy to provide liquidity to the financial system and to encourage recovery: the purchase of large amounts of longer-term U.S. Treasury securities and mortgage-backed securities, also through open market operations.

https://www.stlouisfed.org/open-vault/2019/august/open-market-operations-monetary-policy-tools-explained