this post was submitted on 17 Jul 2023
41 points (95.6% liked)
Asklemmy
43940 readers
534 users here now
A loosely moderated place to ask open-ended questions
Search asklemmy ๐
If your post meets the following criteria, it's welcome here!
- Open-ended question
- Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
- Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
- Not ad nauseam inducing: please make sure it is a question that would be new to most members
- An actual topic of discussion
Looking for support?
Looking for a community?
- Lemmyverse: community search
- sub.rehab: maps old subreddits to fediverse options, marks official as such
- [email protected]: a community for finding communities
~Icon~ ~by~ ~@Double_[email protected]~
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Andrew Bailey, governer of the bank of England, actually has this super power and why inflation is running away in the UK. Turns out spawning lots of money has ramifications elsewhere. Can I argue the Bitcoin creator had this super power too? No, fair enough
A bit, yes, definitely, but that's been going on since 2008, and inflation is running away now because the energy generators got heavily on the iTs wArTimE bandwagon and saw that they were getting away with it. Other companies got in on the same act and corporate profits have never been so high, ever.
Quantitative Easing is why the stock market didn't crash early and often and the gap between rich and poor got much, much wider.
So the Bank of England in my view enabled crisis inflation a bit, but it was the energy generators that really pushed the economy into maximum fleece the little guy mode. Raising interest rates won't fix it because disposable income isn't the problem. It's rampant profiteering that's the problem.