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redditmodsRrussians t1_j332nfu wrote

Reply to comment by Velkyn01 in US jobless claim applications fall to lowest in 14 weeks by AudibleNod

Its almost like im taking crazy pills where people complain they are gettin too much ass and they have to gain 200 pounds with a heart arrhythmia to stave off all the ass that they are getting. The Fed is so clearly terrified of labor having any power that they are willing to tank the whole system just to avoid it.

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pifhluk t1_j33zbxp wrote

It's more about the fact that there are 1.7 jobs for every person. Seems great right? Except that contributes to wage growth which increases inflation. The problem being the inflation is higher than the wage growth. Thus the need to weaken the labor market.

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livewiththevice t1_j348uds wrote

Wouldn't the market just place wages at a more appropriate level if the fed didn't manipulate them?

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No-Reach-9173 t1_j34zk9r wrote

An appropriate level for who?

The FED has to do something about inflation but our system of government was designed around spreading out power and people working together in that system to achieve what needs to be done. That has been broken for a very long time now.

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livewiththevice t1_j34ztlj wrote

For everyone involved. If they can't find people to do the work then they aren't paying people enough to do it.

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LanN00B t1_j35bob4 wrote

That would cause a mini wage/price spiral inside of the inflation Bubble. Would make a bigger boom for sure.

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livewiththevice t1_j36lubm wrote

So lets pay 90% of people a bullshit wage is the solution? I think we can do better

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halt_spell t1_j35jxit wrote

Wrong.

Nobody wants to admit that inflation has been out of control for decades but held back behind a dam where only the 1% could swim. Now the dam is cracking and what they're really afraid of is people paying off their debt. Because most of America's "wealth" isn't natural resources or innovation. It's a bet that they can exploit people's labor for the next 100 years. That bet hinges on people having massive debt like student, home and car loans.

Inflation already happened. They're trying to drain the dam back up the mountain.

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