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Post by ltfred on Nov 22, 2011 23:51:10 GMT -5
Inflation is basically wages. You can't have (or it's very, very difficult to have) high inflation without rapid wage increases. You really think that this is an accurate statement? I'm afraid you're going to have to prove that one to me. It's just ridiculous. Inflation has nothing to do with wages, it is simply an increase in consumer prices. Well, that's what happened in the '70s. Wages rapidly increased, leading to companies increasing prices to keep up. Then workers demanded wage increases in line with inflation, causing worse inflation. It's called the wage/price spiral. There are three types of non-monetary-policy high inflation (though that is most common). There's also cost-push, where a single export utility good suddenly raises in value. Buisness suddenly sees an across-the-board rise in costs, leading them to raise prices to pass that onto the consumer. Then workers get raised wages in line with inflation. There's also demand-pull inflation, where an economy is growing too fast to maintain a stable inflation rate. In the long run, wages are the only inflation that really matters. Nearly everything else is transitory. krugman.blogs.nytimes.com/2011/05/23/supercore-wonkish/ |
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Post by Paradox on Nov 23, 2011 12:56:17 GMT -5
Obama is responsible for the doulbe-dip recession he just caused. He didn't have to force congress to accept unnecessary and destructive spending cuts in a spending-starved economy. The results are his fault- not Big Bad Republicans, nor Nasty Evil Congress. Obama is at fault. Now now Fred, there's plenty of blame to go around. More than enough for everyone involved in this massive clusterfuck. I would just like to know at what point American politics stopped making even the slightest bit of sense, personally. |
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Post by ironbite on Nov 23, 2011 13:04:57 GMT -5
2000 when Bush got chosen.
Ironbite-he was never elected.
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Post by Vene on Nov 23, 2011 14:00:02 GMT -5
2000 when Bush got chosen. Ironbite-he was never elected. I'd put it back further, at least to 1980 and the Reagan years. |
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Post by ironbite on Nov 23, 2011 16:18:13 GMT -5
We had a brief time when Clinton was in office when things weren't batshit.
Ironbite-they were crazy but not batshit insane like they are now.
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Post by N. De Plume on Nov 23, 2011 17:51:07 GMT -5
We had a brief time when Clinton was in office when things weren't batshit. Ironbite-they were crazy but not batshit insane like they are now. Nah, the Repubs still managed to stink the place up with all their conspiracy accusations and gratuitous impeachment proceedings. I think politics stops making sense when it becomes more about the power than actually about managing society. There’s always a push-and-pull between the two, of course. And unfortunately, we are currently in the smack middle of a power-game era. |
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