Answer: People who have borrowed money, because they get to pay back the loan with dollars that are worth less than they used to be.
And who ARE these beneficiaries?
Answer: A lot of middle class homeowners (and be careful not to pronounce that “ho meow ners”). And some big businesses who have borrowed to invest.
And who is harmed?
Answer: those whose income does not grow as fast as inflation decreases its value: Retirees and their families who may have to help them. And folks whose wages don’t grow. And lenders (banks).
So, it helps the middle class and harms bankers. Is it any wonder that a right wing cartoonist thinks it’s a bad thing?
Paul Krugman says “If they’re sincerely worried about inflation, I’d urge them to have their staffs do the math. Anxiety about the inflationary impact of public investment just doesn’t make sense if you work through the numbers.”
Faux news and other RW media are using fear of inflation to try and divide the left or at the very least get the main stream media to talk about it to sow some doubt in the minds of the public just to slow the congress down on the infrastructure. Inflation will cool quickly when we see signs the supply is moving in the right direction.
To keep this monster from rampaging among us and ruining our lives, it is essential that millions of Americans be kept powerless and poor, and be thoroughly terrorized by the prospect of yet further immiseration, so that the rest of us (people who matter) can benefit from their dirt-cheap labor. The wretchedness of the precariat is a small price to pay for our paradise of low prices—or at least it seems small to those not paying it.
Is inflation a problem when it surpasses 20%? Most Americans thought so in 1980s. Maybe you were too young to remember. Or not trying to buy a house or car back then. Rampant inflation above 6% does cause concern. Especially if trillions more “free” money is given out before there is product supply to balance against demand.
Inflation is a scare story without much actual substance. We have a lot of money circulating and the products it would ordinarilly purchase are in metal boxes floating around harbors and ports waiting to be unloaded onto a limited number of trucks and RR cars.
its clearly idiotic proposed spending like that outlined in this article that should give pause to everyone supporting the “bi-partisan infrastructure” (traditional pork) deal . . .kill it
Daeder over 2 years ago
I never pictured Zeus in a mechanic’s jumpsuit. And when did he shave his beard?
Concretionist over 2 years ago
Who benefits from inflation?
Answer: People who have borrowed money, because they get to pay back the loan with dollars that are worth less than they used to be.
And who ARE these beneficiaries?
Answer: A lot of middle class homeowners (and be careful not to pronounce that “ho meow ners”). And some big businesses who have borrowed to invest.
And who is harmed?
Answer: those whose income does not grow as fast as inflation decreases its value: Retirees and their families who may have to help them. And folks whose wages don’t grow. And lenders (banks).
So, it helps the middle class and harms bankers. Is it any wonder that a right wing cartoonist thinks it’s a bad thing?
PS: It’s also bad because the Dems are in power.
Terdarian over 2 years ago
Paul Krugman says “If they’re sincerely worried about inflation, I’d urge them to have their staffs do the math. Anxiety about the inflationary impact of public investment just doesn’t make sense if you work through the numbers.”
Faux news and other RW media are using fear of inflation to try and divide the left or at the very least get the main stream media to talk about it to sow some doubt in the minds of the public just to slow the congress down on the infrastructure. Inflation will cool quickly when we see signs the supply is moving in the right direction.
FrankErnesto over 2 years ago
Inflation is caused by rich people not paying taxes, and cartoonists with nothing to say.
Rhetor over 2 years ago
To keep this monster from rampaging among us and ruining our lives, it is essential that millions of Americans be kept powerless and poor, and be thoroughly terrorized by the prospect of yet further immiseration, so that the rest of us (people who matter) can benefit from their dirt-cheap labor. The wretchedness of the precariat is a small price to pay for our paradise of low prices—or at least it seems small to those not paying it.
Darsan54 Premium Member over 2 years ago
Another made-up FOX monster.
Retrac Premium Member over 2 years ago
Is inflation a problem when it surpasses 20%? Most Americans thought so in 1980s. Maybe you were too young to remember. Or not trying to buy a house or car back then. Rampant inflation above 6% does cause concern. Especially if trillions more “free” money is given out before there is product supply to balance against demand.
HT-Missouri Premium Member over 2 years ago
Inflation is a scare story without much actual substance. We have a lot of money circulating and the products it would ordinarilly purchase are in metal boxes floating around harbors and ports waiting to be unloaded onto a limited number of trucks and RR cars.
cbgoldeneagle2 over 2 years ago
You sir are a joke
codak over 2 years ago
its clearly idiotic proposed spending like that outlined in this article that should give pause to everyone supporting the “bi-partisan infrastructure” (traditional pork) deal . . .kill it
https://www.fieldofschemes.com/2021/10/14/18067/schumer-says-federal-money-can-be-used-for-whole-new-highway-system-for-bills-stadium/
359mxn over 2 years ago
Any inflatio we experience will be the result of Trump’s exacerbating the pandemic with inaction, grifting and lying.