Majority of Americans Back New Stimulus Checks to Combat Inflation | Hacker News Reader

Majority of Americans Back New Stimulus Checks to Combat Inflation

newsweek.com

16 pointssomenameforme12 comments

I'm no economist, but isn't this pumping of free money was one of the main reasons we have so much inflation to begin with? America's a great country and all, but I don't think the people really know what they're talking about here. Let's leave the diagnosing to the doctors, and the economy to the economists.

"Something magic happened in July 2020." https://twitter.com/maxjanderson/status/1546472693234470912

Not only do they not understand what's going on (how could they?) -- but they've been financially strip-mined so thoroughly, for so long, for so great an amount of wealth, that it beggars the imagination.

The "free money" that's been tossed to the masses is literally chump change, a rounding error. The Tsunami of the wealth transfer to the elites defies imagination.

Take your eyes off these trinkets; they're distracting you from the gang-rape going on in the background.

That and a once in a lifetime pandemic that shifted demand back and forth across huge parts of the economy.

and the tons of oil wells that got closed and alot of the investment community has a longer term outlook and doesn't really like what it see when it comes to fossil fuels.

that doesn't really solve the problem of cartels or foreign govs manipulating markets and jacking up prices. oil prices. or commodities(china).

doesn't really solve food shortages from war and the environment.

doesn't solve the money or your life inflation. medical. rent/housing

doesn't solve the too small to care inflation. I'm looking at you pepsi and your 22% increase in profits.

I forgot the not in my backyard local regulations with multi family homes not getting built and running out of room for Single family homes

And war on immigration that is causing general labor prices to skyrocket.

I fail to see how this does anything to combat inflation. At best it may buy some votes and maybe help some families short term. I do not see how anything one country does can combat world-wide inflation. There are too many Geo-political incidents popping off that are contributing to food shortages and rising energy costs. Do things get worse before they get better? Out of my own curiosity, does anyone buy into the "fourth turning" theories?

no American is going to say no to free money.

however, this feeds inflation, precisely the opposite of combatting it. Hyper-inflationary spiral is the theoretical risk

It's not free, there's the rub.

It’s free for the people who need it the most. People that pay little or no taxes because they are poor.

This could also be the headline of a Onion article.

Ya. That's totally gonna work.

I appreciate most of this article is an explanation of why that's a bad idea.

Reply on news.ycombinator.com