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this post was submitted on 26 Feb 2024
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Inflation is fine as long as wages rise with it.
The issue is our economy is entirely built around low interest rates and low inflation. It's been that way for a generation. This benefit asset-holders like home owners and the wealthy. Hence why they are doing everything possible to avoid wage-growth. They don't care about inflation, what they are terrified of is wage growth and higher interest rates.
If wages rise together with inflation you get hyper inflation.
No, that's nonsense. Wages going up are not going to cause 1,000% inflation per year.
I hate to agree with the other guy, but we just saw massive inflation during pandemic because corps refuse to eat ANY loss in profit. It's all fucking greed.
A big part of that was greed, but not due to rising wages as the poster suggests. Real wages (which means inflation adjusted) did rise sharply in the immediate time after the pandemic recession, but stabilized by 2022.
There were legitimate bottleneck issues that caused some prices to rise. Companies then saw that they had a once in a century opportunity to raise them even more and blame bottlenecks. Despite what a lot of people think, companies can't raise prices arbitrarily in most circumstances. They'll just lose customers. This particular situation, though, meant that everyone could do it at once and customers would just have to bear it.
But it will and there's plenty of precedent, like Weimar Republic.
That's not how that works. That's not at all how that works.
Right... Well, enlighten us all! Maybe you'll get a prize or something for disproving economists!
Waving your hands around and saying "Wiemar Germany inflation" is the economic equivalent of "Rome fell because feminisim/immigration/too many homosexuals/not enough homosexuals/Christianity/didn't use Heron's steam engine/lack of Starbucks". It's brought out by people with an agenda and a willingness to twist any historical fact to make things fit that agenda.
No, that was because of high volumes of money printing to pay debts.
Yeah, debts to workers.
Are you just making up "facts" as the contradictions flow? Or did someone else make up these "facts" and you just parrot them?
Debts to other countries. Apparently, you don't know the first thing about how that happened.