Just so we're clear, inflation was never transitory.
Most central banks are ending quantitative ease (QE) now, and the US on track to end it by the middle of next year.
QE is a policy tool used to drive inflation higher. They meant their use of high inflation was transitory.
Most central banks are ending quantitative ease (QE) now, and the US on track to end it by the middle of next year.
QE is a policy tool used to drive inflation higher. They meant their use of high inflation was transitory.
2/ "Keynes argues that inflation is “a method of taxation” which the government uses to “secure the command over real resources..."
-- US Federal Reserve (Richmond)
Most people think this is paid by the rich, but it really isn't.
-- US Federal Reserve (Richmond)
Most people think this is paid by the rich, but it really isn't.
3/ The rich have ways of avoiding the impacts of inflation. Not hedges, but ways to actually capitalize on this growth. Asset value growth is a consequence of QE.
It's the working-class wage earners that see their buying power disappear.
It's the working-class wage earners that see their buying power disappear.
4/ To recap:
- they taxed households to pay for a little help and a lot of profits
- pretended they didn't know what happened
- made a shit ton of money
- are removing the taxation tool
- pretended it was all your fault for buying too much
- they taxed households to pay for a little help and a lot of profits
- pretended they didn't know what happened
- made a shit ton of money
- are removing the taxation tool
- pretended it was all your fault for buying too much
• • •
Missing some Tweet in this thread? You can try to
force a refresh
