This is...not correct.
The simplest way to understand why the debt keeps rising without causing inflation is because of inequality: it's all ending up in rich people's portfolios that they never spend. Therefore neither that outstanding debt nor the interest paid on it poses 1/3
The simplest way to understand why the debt keeps rising without causing inflation is because of inequality: it's all ending up in rich people's portfolios that they never spend. Therefore neither that outstanding debt nor the interest paid on it poses 1/3
https://twitter.com/ProfJAParker/status/1374389632381587463
a very large inflation risk - what, are all the rich people suddenly going to spend down their entire fortunes, for no reason? Not likely.
If there is any inflationary pressure to be found, it's in the new paradigm of giving money to poor people (ie. people who actually will /2
If there is any inflationary pressure to be found, it's in the new paradigm of giving money to poor people (ie. people who actually will /2
spend it) + the revival of the labor movement. This is not going to produce hyperinflation - not anywhere close. Nothing about our political system creates forces that push these trends to those extremes. It's really quite the opposite, they're fighting for every last crumb. /end
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