Let’s be fair the gas prices rising are due to this campaign and since fuel is an input cost it’s rasing prices across the board. You can make the argument that rising prices would be better than being nuked but to hand wave the effects away is just not true and will not bring young people back into the fold.
Unfortunately any responsible person at the fed can’t vote for rate cuts as we are seeing the deficit keep rising and tax revenues decreasing. On the other hand job growth is sluggish and people aren’t borrowing. It’s a lose lose position for the Fed. Either they keep or up rates and deal with inflation or unemployment rises, and people have less money to be taxed. then the government has a crisis of declining tax revenues, which necessitate more deficit spending, which causes more inflation.
Absolutely incredible.
In an unprecedented move, South Korea's stock market just collapsed -44% in 40 days, erasing -$2 trillion in market cap.
Now, South Korea's finance ministry has announced plans to "stabilize" the market.
What is happening? Let us explain.
(a thread)
This happens when your have a money system that isn’t limited by a supply of a commodity. Just infinite money printing and inflation. The people won’t notice the pain until later and you don’t have to be a leader and tell the American people why you can’t give them a program or why you have to raise their taxes.
This unfortunately doesn’t solve the issue the dollars that Americans save become more and more worthless by the day as we increase the money supply.
Donald Trump is right about this:
Eliminate the debt limit—its only real function is to threaten an economic crisis.
I'm ready to work with both Democratic and Republican Senators to immediately scrap the debt ceiling and protect the economy.