The inflation rate in the US has been above the Fed’s 2% target every year since 2022. That’s by no means a result of the stimulus checks, but it is a result of relatively cheap money and growing incomes without a sufficient corresponding increase in the supply of goods and services.
I’m not saying those caused inflation. The original idea was that just giving people money would make them worse off. So I pointed out a real world example where people were just given money and a lot of people used it responsibly. Yes some people bought meme stocks but that wasn’t the norm.
where have you been the last 3 years? It’s because assets have been outpacing inflation to the point where it’s destablizing society. the American GDP is being carried by AI speculation. Not productivity: hype.
Meanwhile, compensation has only been outpacing inflation if you’re an executive.
any gains in household income was completely cancelled out by the fact that everything got more expensive, and more people were impacted by layoffs. Homelessness also increased, and those without a home (or who move into their parents’ home) do not count for household income
You mean like when everyone got their stimulus checks during covid and a lot of people used it to pay down debt and bills?
The inflation rate in the US has been above the Fed’s 2% target every year since 2022. That’s by no means a result of the stimulus checks, but it is a result of relatively cheap money and growing incomes without a sufficient corresponding increase in the supply of goods and services.
I’m not saying those caused inflation. The original idea was that just giving people money would make them worse off. So I pointed out a real world example where people were just given money and a lot of people used it responsibly. Yes some people bought meme stocks but that wasn’t the norm.
where have you been the last 3 years? It’s because assets have been outpacing inflation to the point where it’s destablizing society. the American GDP is being carried by AI speculation. Not productivity: hype.
Meanwhile, compensation has only been outpacing inflation if you’re an executive.
Median household income has increased about 18% since 2021. Source.
Don’t know why you’re talking about income when I’m talking about assets.
https://www.census.gov/library/stories/2024/09/acs-rent-burden.html
any gains in household income was completely cancelled out by the fact that everything got more expensive, and more people were impacted by layoffs. Homelessness also increased, and those without a home (or who move into their parents’ home) do not count for household income