It's strange to me that you think raising interest rates in response to inflationary pressure is some kind of radical insane liberal policy. That's like page 1 of the Fed textbook and exactly how they've responded to every instance of inflationary pressure in the history of the United States.
Oh, yea, don't consider me an optimist over the economy or anything. That said it is nice to put $60 worth of gas into my truck and see the tank mostly filled up for another 330ish miles of travel.
Their response will lead to a recession that will be just as painful as inflation, if not more (major job losses, asset values/401ks collapsing). The way to curb inflation is to find ways to lower the cost of production and also to stop increasing the money supply (i.e. no more stimmy checks). Bitcoin fixes all of this.
I don't understand this recession fear? I have in multiple recessions in my lifetime and have never been impacted that much, it always comes and goes and never very long. What am I missing here are mass layoffs coming? How can gas going down be a bad thing?
How can there be major job losses when so many jobs need to be filled? Are you in danger of losing your job?
I guess July number should be better, I saw my gas price drop by more than 70 cents this month, down to around $4.5 from over $5.2.
Hands off the stimmy checks. Printing money causes problems. Giving people money (within reason) does not.
Yall clownin' on Commode for bringing BTC into this, but he's right. A lot of economic volatility is directly attributable to currency debasement and the push toward financialization. Sound money fixes this (as off topic as that may be).
Energy cost: Oil was $70 before the war. Hit peak of $115 (May-June) since the war. Has gone down since and is now $95. The fed doesn't need to go fast and hard with the price of oil tampering off. US inflation surges again in June, raising risks for economy | AP News The government’s consumer price index soared 9.1% over the past year, the biggest yearly increase since 1981, with nearly half of the increase due to higher energy costs.
Americans are not the only one on this planet. USD is the world reserve currency. Interest rates go up for everyone, not just home buyers, credit card users and business loans. We are seeing headwinds coming in multiple directions. Just because its not effecting you doesnt mean it isnt effecting others.
I don't know if BTC will fix any of this anytime soon, but I'm down for picking some up when all the free money dries up and retail is so shook that they're only looking at gold and apocalypse seeds. You don't have to bet the farm in those conditions when 5-10% that you can afford to throw away can do.
Recessions are part of the business cycle and always have been. If you think you are going to eliminate recessions, you are tilting at windmills. The point of the Fed's monitary policy is to smooth out the inevitable highs and lows.
Nonsense! We need constant growth! Full employment? Doesn't matter! PUMP PUMP PUMP! And then bail out Fortune 500 companies when a recession hits. You can pay for the bailout by cutting social services and raising taxes!
