Thursday, November 11, 2021


It's been completely accepted in the DISCOURSE that a) Inflation is here and LARRY SUMMERS WAS PROVED FUCKING RIGHT and b) all the stuff in the reconciliation bill will make it worse.

This doesn't even hold up to Econ 101 level scrutiny, but hey, sure. In any case if spending more money on, say, child care, is inflationary, you can offset that easily by raising taxes. Things like, say, child care, are actually likely to easy pressures in the economy by increasing labor force participation in precisely the sectors that are experiencing a squeeze. Just examples, but the point is they've switched to INFLATION because deficit hysteria had run its course and they can always get corrupt journalists to run these "price of milk/price of gas" stories to make people believe it's a problem.

Economists don't like to talk about it, but everything has distributional issues. Most of them just hate the tools that might hurt rich people. 

Like many things, this serves the purpose of adding to the very long list of "corrupt dishonest assholes."

Millions on that list, though, so its utility it limited.