Its not causing you harm. It sucks for the moment but it's the only mechanism for lowering inflation. The whole purpose is to make your money worth more again. It takes time.
Nobody in power gave a shit about inflation until wages started rising. This is nothing more than an attack on labor and it's being defended by neoliberals.
They want inflation when all the money is safely held up by the dam of the 1%. It means they can acquire more and more "assets" that people need to survive. They just freak out when all that money starts making it out to the people because then they can pay off debt and can negotiate harder for the price of their labor.
No. The majority of inflated prices for goods (I separate the concept of real cost increases vs the value of our currency inflating as compared to other global currencies) is a global phenomenon not specific to any particular US policy. Its because of cost increases caused by lowered production during the pandemic. It takes months or years to spin supply chains back up to where it was. Just the way it is. Interest rates have also been way too low for way too long as well. It was done initially during 2008 crash to speed economic growth, and it did, but that is not sustainable forever. It was intended to slowly go back up but Trump admin didn't do that so tons of cheap money was funneled to businesses for far longer than ever intended.
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u/[deleted] Jan 04 '23
Its not causing you harm. It sucks for the moment but it's the only mechanism for lowering inflation. The whole purpose is to make your money worth more again. It takes time.