I don’t remember the Fed saying anything like that a year & a half ago.
Powell has been saying this for a long time. He doesn’t seem to like that people are making more money.
Here’s just one of a plethora of examples you can find if you’d just Google it.
I think they mean that no one in the government ever said that no one wants to work, it was just tight fisted business owners with no brains.
When people say the Fed in this context (the tweet) they generally mean the Federal Reserve which is headed by Jerome Powell.
Yep. Rather than it being corporate greed driving everything (which has been reported on from many angles), it’s actually people making too much money that is the problem per Powell.
Exactly. This is the guy saying unemployment needs to be higher. Like wtf, you actually want more people out of work.
Higher wages is not what is driving inflation, it’s pure greed. Proven over and over again.
Why do I get the feeling he’s not talking about the rich here?
Because of course he’s not. To me it seems he’s definitely more concerned about the pockets of the ruling class. Just my opinion of course.
They meant the first part
Pretty ambiguous and they responded to my comment but not to say that was the case.
Well… they’re partially correct. If we cut “wages” at the top, then prices will go down because they’re no longer being pulled up.
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I’m not sure what your statement is intending. Are you saying people who work at the Fed aren’t beholden to corporate interests just because there aren’t shareholders?
The same fed that has the keys to the money printing machine, bank lending programs, and powers for short term low interest loans used to “stabilize market conditions”, not to even mention the revolving door of regulators moving to private positions after their time deeply embedded in our financial institutions?
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Your comment seemed like a non-sequitur, but mostly because the title didn’t seem to be literal to me and more of a statement on corruption. Normally, when people make what I believe to be non-sequiturs, it’s because there’s an additional point they’re trying to make that would make that non-sequitur click into place.
I appreciate the clarity.
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That is…scary. Yeah I’m all for calling our current system of governance a keptocracy or make comparisons about “buying a ticket to congress”, but if those statements are being taken literally then getting us to a place where those aren’t just little quips and more of a reality is going to be easier than I thought.
the title didn’t seem to be literal to me and more of a statement on corruption
That only makes it worse. “I only lied about bad thing X being Y because I want to attach bad connotations to Y”.
Wages do need to come down.
For a very small number of people who seem to have all of the wages.
Yeah the mean should go down but the median should go up. Those outliers at the top are a problem.
Perhaps we should eliminate the outliers so we can get a more accurate understanding of the normal distribution.
That was the most professional version of a call to guillotines that I’ve ever heard.
;) Gotta package it right
Gme people are somehow worse than Bitcoin people
This is a post about the FED silly :)
I mean… it’s isn’t those things. It’s literally a government agency. It can’t “make profit”, it literally is the banking system, not a bank itself.
It is literally not a government agency. It operates under a mandate from congress, but is not a government agency.
Specifically, the economy is a Ponzi Scheme!
Pyramid scheme.
Nice to see so much crossover interest from other instances on this one. Love the federation!
One of my favorite things on this earth is capitalists admitting that if wages ever rise such that workers can afford a decent life, the price of a decent life will just rise to exclude them in the same breath they use to talk about how capitalism lifts people out of poverty.
Artificial scarcity in a post-scarcity society is wonderful isn’t it :')…
