Wolff Responds: Inflation, Prices, Interest Rates...A Policy Crisis

In this Wolff Responds, Prof. Wolff speaks about the failures by the Biden administration to find a way out of the current economic crisis. As inflation steadily increases and wages stagnate, our government’s only proposed solution-increased interest rates-does more harm than good. We’re stuck at a dead end with nowhere to go…except to a system better than capitalism, one that supports the masses.
Wolff Responds is a ‪@democracyatwrk‬ production. We provide these videos free of ads. Please consider supporting our work. Visit our website democracyatwork.info/donate or join our growing Patreon community and support Global Capitalism Live Economic Update with Richard D. Wolff at / gcleu .
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[@waitingforparts57]

Keep at it professor Wolfe. Thank you

[@Tom-Travels]

I had to choose between paying my new, higher rent, or making my car payment. I paid the rent. My car is being repossessed. I did buy some reduced priced meat that is expiring today. My world looks dark... very... dark...

[@karenjanusch7978]

I feel your pain. I lost my home and now have a roomie1rst time in 27 years. Luckily I live on a bus line. I NEED an electric bike! I am 60 yrs 9ld ffs

[@swayzy762]

@Nathair We would be labeled domestic terrorists and the ones with money and power would destroy our efforts. There's no stopping what's coming and I'm sorry for what you and yours will be experiencing soon because it's only the start. Pray for mine as well...

[@dragontile]

Hate to say it but a car is a luxury, most people on earth can’t afford one

[@swayzy762]

@@dragontile and they live in villages and small countries where mopeds or bicycles suffice. You need a car if you live in north America or you gonna struggle hard.

[@dragontile]

@@swayzy762 it's a want simply because there are alternatives, you can purchase electric skateboards that go 20mph for like $400

[@anhedonic-voting]

Thank you 🌎 ✊️ 🌹 🗽

[@willcooper7651]

So long as corporations and the super rich continue to fund election campaigns, nothing will be done to promote basic system change. But campaign finance reform is stymied because the players--the politicians and wealthy, powerful special interests-have no inclination toward revamping the status quo. It will take a broad people's movement to bring out any substantive change.

[@guapodesperado2822]

Sadly though, the oligarchs have played their "divide and conquer" strategy almost flawlessly. All I see around me are tribal left and tribal right, viciously attacking each other and willing to go along with establishment authoritarian overreach when it harms their "enemy", then shocked and surprised when those same powers come back to bite their side. I think we have little hope of a just and free future unless both the left and the right put down their hate and fears of each other, listen openly to each others grievences and concerns and come to see who their greater threat is, then come to the compromises necessary to tackle the true villains of our civilization. I am just calling it like I see it, but sadly I don't really think enough people are aware and actualized enough for that to happen. I fear the divisions will only deepen and before long we will all be in an Orwellian dystopic nightmare.

[@willcooper7651]

@@guapodesperado2822 Spot on, Guapo.Identity politics is a racket run by the corporate mass media and aided abetted by the oligarchy. Keep the masses divided along demographic and cultural lines and believing that the root of their ills is anything but capitalism. That's what the professor has been saying since forever.

[@guapodesperado2822]

@Nathair I hope you are right. There still may be a chance for folks to wake up in large enough numbers, but darkness is falling and the hour is late.

[@mangopedicure3621]

@Nathair Wokeness is several things but Wokeness culminates with action. Real Wokeness is about the future and getting a gpa on how to project a better future for whoever is here maybe aliens if they keep making guns.

[@FollowmedowntheNumberWhole]

@@guapodesperado2822 glad I’m not the only one seeing this

[@LONEWOLF..314-S-T-L]

GREAT TALKING POINTS PROFESSOR WOLFF AS USUAL SIR 💯💪🏾👍🏾❤️🌄

[@petermanuel5043]

Laying it out so clearly and simply as usual. Thanks.

[@gavanhillebold3131]

Corporate stock buybacks was 870 Billion Dollars (2021)to prop up the stock prices. Free 0% money. That must end

[@NoCensorship]

I had to halt all unnecessary spending on all unnecessary services and goods for this year and into the foreseeable future. I’m selling my current possessions, emptying my savings to pay off all the debt I currently have. I’m on financial lockdown! Thank you Biden / Fed. 😡

[@joeows6537]

During Occupy Wall Street, we advocated for people to join a members owned credit union and quit the banks

[@IzitAllGoUnder]

I completely terminated all involvement with banks at that time. I have 2 credit unions I deal with and monthly pay off all purchases to eliminate paying any interest. If everyone did this, this country, Wall St. and all it's billionaire oligarchs would be terminally bankrupted !

[@kevinschmidt2210]

If you hold onto dollars, you will lose value at the rate of inflation every year. Besides banks, the government can also shut down CUs, but not cryptocurrencies. Of course, you have to hold crypto, NFTs and tokens in your crypto wallets, and not in the crypto exchanges, which can also be shut down by the government.

[@jl8942]

Then the FBI swooped in and trampled the people's rights while being shielded by a narrative they manufactured with the collusion of the mainstream media.

[@ChicagoTurtle1]

Good idea! But that’s just a bandaid the problem is deeper and more systemic.

[@joeows6537]

@@ChicagoTurtle1 it certainly is it's just the start but it's something that everybody can do. I also vote with my wallet, Until you hit them in the pocketbook they will not understand

[@scottrichardson6226]

why did my grocery monthly bill double in the past year? I'm not a math major but isn't that 100% and not 7%???

[@skiz8848]

Some things went way higher than our 7% inflation rate. Our inflation is calculated using the price changes of common goods and services.

[@cosmicmusicreynolds3266]

the calculation is fixed ,interest rate oare higher

[@dennisthomas4766]

If the people in this country wouldn't buy anything and all stay home for 1 week you would see how fast prices and inflation would drop and if they get greedy again the people need to do it for 2 weeks and watch what happens!!!!!!!!!!!!

[@bloodybonescomic]

Inflation is caused by concious decisions to raise prices. The result of which damages the many but enriches the few.

[@alexperkins8433]

like everything else. usa needs to get $ out of politics/zero chance the massive gap btwn top 1 percent and those working 2-3 jobs to make a living wage. so depressing.

[@alexanderboulton2123]

THIS is the kind of Professor Wolff that I like to see!!

[@Gigika313]

What is to be done

[@sabergolbaf1364]

Till masses get more education that questions will not be asked.

[@skiz8848]

the French might have some ideas

[@DocDanTheGuitarMan]

This is probably the most honest discussion of inflation I have yet heard.

[@DaUziel]

The US hasn't been a "first world" economy since the 00s, at the latest

[@SCHMALLZZZ]

Definition of 1st World: USA, NATO and its allies. Definition of 2nd World: USSR, China and it's Allies. 3rd World: everyone else

[@Gumardee_coins_and_banknotes]

@@SCHMALLZZZ It is based on Income lol. Also the USSR like South Vietnam, no longer exists.

[@dennynisevic7848]

Thank you Sir, hugs from Serbian fan.

[@Rick-or2kq]

7.5% hmm, well so much said for the 5.9% increase in your SSI check first of the year.

[@dddpvt]

Oh no, Oh no, their in control,. They have our money and we have been sold!!!!

[@idmhead0160]

Regarding losing furniture jobs. Those left America a long time ago. I bought furniture in the 90s that was American made. I wish I bought more because it's all made in China now. If you want something quality, you need to buy Amish built furniture. Because they don't go by our rules.

[@debrafuller5693]

Destabilizing our economy for gigantic currency interruption! If you don't have gold,or other bargaining tools! Then prepare for starvation,homelessness,and severe health issues! 🙏GOD'S HELP Thank You to those educating us! So we kinda understand what's going on!

[@skapunkoialternativeliving6522]

It's times like this thank God our lives alternatively and minimalistically.. as far as credit card debt I am debt-free and I don't use credit card.. I guess I'm under the smart lucky ones hell yeah

[@matthewwhitton5720]

The professors narrative is a litany of dreadful and dire circumstances for working people. But, as ever, it’s all done so succinctly. With a clarity almost literally unheard amongst the gibberish the ‘ hooray - Henrys ‘ that seem to appear on Fox, etc., in their hundreds !

[@tmendoza6]

I may not agree with you on many arguments but i know your voice is necessary in these economic times We the people need to demand a little more for ourselves

[@jean-pierredevent970]

Since it's happening everywhere (almost) the world leaders could agree to freeze the prices everywhere simultaneously. Chinese import will still be cheaper but we could ask them to play along for a while. I think they would. They have their own internal market and Russia, they can survive. Those who get only rich, from this crisis must be exposed in the media. Everyone will suffer from this together too, like we did it with Covid.

[@peterjol]

Life: need more money....fight for more money ... win more money.....inflation ......need more money......fight for more money......win more money.....inflation.........over and over and over and over...well we are always winning aren't we?

[@giorgioscruz961]

Exelent analisis !!

[@JohnSmith-hs9ez]

I dont know if you read the comments, but I'm wondering, what is the solution? How do we get out of this predicament?

[@alexperkins8433]

move to new zealand sweden finland or australia

[@davidevans6618]

I'm just wondering, I've never seen laws regarding the "ruling class", and neither have they. Isn't that strange...

[@donkeykong516]

If we think US GDP is low, it’s gonna be lower

[@davidevans6618]

How expensive to humanity does money have to get, before we've had enough ? Energy Coin Time Bank. Barter and trade may have " incorporated" money as a means of "simplification", but all money does is " multiplication", having to continue to grow, or implode. Time Bank and you're the Bank of You.

[@031TP]

What is the system change you would purpose Mr. economist ?? we already know, we are doomed whether they raise the interest rate or keep it at zero. Most of the lenders who hold those government debts (US Bonds and Treasuries) are 401K and pension funds..! Please Please make a video and tell us what would you do if you were in charge??

[@cosmicmusicreynolds3266]

its going to be a tough decade its true. i hope workers can move to stop the capitaliist taking away more from them

[@dominiquesanon5165]

What is the MMT lens to this situation?

[@melparrishjr]

They change the meanings of the words and phrases we use to articulate these things. We the public seldom ever take notice of them but that's what they do. They don't do it all at once with the stroke of a pen so to speak but they do over time, a little here and a little there so that none of us may ever be any the wiser. You see, one by one all the words we commonly use to describe and even define uncommon things are gradually becomming extinct in the human language. Yes, the human language! Because when we have the words to discuss such things those words never get lost in translation. They are universal like the word 'Freedom' ...Imagine a world without a word for it. No word in any part of human disourse for "Freedom" or any aproximation thereof. That discussion would never be tabled. Now, imagine all the words we use to open such a dialog... all gone! We'd have to re-invent the wheel just to have a meaningful conversation with anyone. They can't change the laws but they can change the meanings of the words we use to write them. That's what they do. Otherwise, how is it that the definitions of words in dictionaries ever change: how do they suddenly become "archaic" and obsolete? It is an editorial decision based on what is in popular use at any given time... in other words, it has literally nothing to do with what is gramerically correct but it's based entirely on the editor's own opinion. That's where it starts... the world's achilles heel ...the bureaucratic backdoor! What others have failed to do politically academics do quietly and subtly without notice. Soon, there will be no words to describe the important things because when there are no words there are no discussions; it's the way they like it.

[@robini.1338]

Hello Professor Wolff, I am wondering what happens to a bond when interest rates go up? Thank you! Robin🙂

[@spaceantelope1]

Good question! I think I the value of the bond increases. Higher interest rates I’m not sure are such a bad thing, in spite of what Professor says. The American Middle Class was partly built on increasing home equity, which was a result of higher interest rates.

[@RichardDWolff]

Dear Robin, Prof. Wolff answers specific questions from Patrons of our Economic Update Patreon community each week. Even donations at the $3/month level give you access to this perk, so if you’d like your questions answered, feel free to join and submit via Patreon. Here’s the link: www.patreon.com/economicupdate Small donations are the lifeblood of our organization and keep our shows going. Thank you for your support and engagement!

[@spaceantelope1]

@@RichardDWolff Dear Robin, Prof Wolff can’t answer your question directly because… of capitalism. Lol, nice hustle ya got there Teach…

[@patbranigan6501]

Professor Wolff how can we find out the inflation in certain areas of the economy. Overall it is 7.5% but it seems to me over the last 2 years I spend about 20% to 30% more at the grocery store and I don't think I am buying more than before. Food is an essential but as I understand it it is not given an equal standing in the calculation of CPI and might even be undercounted. Is that so? Can we find the real rate for food?

[@alloomis1635]

inflation is not really a problem, just print more money. unemployment is not a problem, just hire more soldiers. markets stagnant? sell at gunpoint. see, soldiers a good investment, and you can pay them with the new money. that's national economic management, perfected in the usa.

[@davidevans6618]

You start talking about solutions, you won't have to worry about financial donations to support that message, I can assure you support. The government might say you're working for the Russians though and seize your donations. They don't like it when we get together on issues huh ?

[@Backwoodsjess]

Mr. Wollf, I’m in Canada and what you say also applies to what is happening here in Canada. Do you have any thoughts on what may happen to people’s pensions? Not the old age pension paid out by the government but pensions people have paid into and being held by private companies like Omers? Are they safe or is this something that we should be worried about?

[@mattchew6426]

I support a substantial tax increase on exponential growth in profit margins. That would make a difference in price gouging...

[@joyced5953]

Raising taxes does not cure the inflation problem. The reason our prices have raised up is due to the policies that the Biden administration has put into effect.

[@mattchew6426]

@@joyced5953 According to profit reports to shareholders, several.CEOs took the initiative to raise prices by as much as 30% overthe last two quarters. It's not just inflation that we're dealing with, it's greed. Blaming partisan theatrics is for inflation is like blaming an individual symptom for causing an illness. It might make you feel better cathartically, but it doesn't make you a doctor....

[@karenjanusch7978]

Well, fuck a duck. I worked (work) in a grocery store throughout this whole effing thing. My life hasn't changed except for losing my trailer and everything else I had. Income remains the same.

[@plumbbobconstructionpants5599]

Lost my apartment on Dec 31. Living in my car now. I have a computer technology degree and a journeyman plumbing license. It's ridiculous.

[@karenjanusch7978]

@@plumbbobconstructionpants5599 that sux! Your degrees and licenses can't be taken away from you, at least. There's a lot of demand for info sec techs. Hope you get back on your feet quickly.

[@walden6272]

@@plumbbobconstructionpants5599 You didn't save any money for rainy days?

[@plumbbobconstructionpants5599]

@@walden6272 didn't say that troll. Try harder.

[@walden6272]

@@plumbbobconstructionpants5599 Wasn't trolling. With your background, figure you were doing well and had some money saved up.

[@dalat1]

There is one other way out "WAR"

[@walden6272]

That was what old empires did but with many nations having nukes, that is not an option. That is just the same as committing suicide.

[@idmhead0160]

Maybe just maybe, people shouldn't be buying everything on credit. It's why home prices are massively overpriced. Interest rates should go up IMHO. They should have never been reduced to as low as they are.

[@nathanplumb3782]

I’m subscribed to this channel and it is never in my feed for some reason. I have to actively search for it, unlike the video game channels I’m subscribed to. I wonder why that is.

[@rolyars]

It most certainly is possible to raise interest to the level of inflation. It's like going cold turkey from an addiction, it will hurt the economy a lot but afterwards you have saved your currency and you can sort of start over.

[@p.a.andrews7772]

the need to go up on Social Security is overwhelming at the same time they're telling old people they should get a job!

[@PoliticalEconomy101]

Robert Reich is running a Wealth and Poverty Class on his channel. Great for beginners.

[@GhostOnTheHalfShell]

The US dollar is fairly strong too, further raising the price of US exports. It seems like this is a positive feedback loop. More interest/inflation makes imports more desirable, as well as hurting exports by making the dollar stronger.

[@krohuynh7660]

Wish this man was running for president! We wouldn’t have to say let’s go Brandon let’s go.

[@richdiana3663]

Life is a dead end.

[@TheWindGinProject]

Wolff; Consider the poor who have racked up more credit debt than possible to EVER payoff. Why not promote to those to file bankruptcy immediately?

[@terryirvine2472]

i have watched many of your videos. have you ever read The Great Reset by Klaus Schwab and what do you think of his new economy

[@aleksiignatov8687]

I didnt hear any sugfestion how to solve it. What is the better way here. Most of the people go into debt are buying something that is not needed. Raising interest rates is a good option to stop people to buy not needed stuff.

[@spaceantelope1]

But higher interest rates are good for home owners right? Wasn’t the equity built in home ownership as a result of a higher interest rate one of the cornerstones of The American Middleclass??

[@fabienneisore7831]

Not when the amount you need to borrow for purchase is atronomical in comparison to its actual value, and salaries to not keep up to inflation.

[@annetcell-ly4571]

What do you suggest? How does the ordinary person get through this?

[@MisterJang0]

Professor Wolff, in a previous video, didn’t you say that “inflation” was just a word used by companies to justify price gouging? In this video, you’re treating inflation in the U.S. like it’s actually what’s going on. I’m confused.

[@dmike3507]

"Inflation" itself IS price gouging, at least a large portion of it. Companies are lying. They like to pretend that "inflation" is some foreign entity that they have no control over, but this is bullshit. Companies and companies alone decide what their prices are, except in instances in which the government has price controls (but we don't have much of that in the US). Of course there are other things that cause inflation as well, like rising costs or the supply chain issues we've been seeing recently, and those are contributing factors as well (but unlike price gouging much of that is temporary).

[@my3bikaht88]

@@dmike3507 Every business wants to make as much as possible. It is balanced by market forces due to competition (as long as there is one).

[@Beastudios]

@@my3bikaht88 Except it isn’t balanced out since established vendors can just collude and altogether decide to price gouge to benefit themselves and flood the market with cheap items to price out upcoming competitors. This has been the case with the diamond industry for years.

[@rafaellisboa8493]

the state isn't funded by taxes

[@csotrumpet4]

This was a year ago. Now the economy is doing very well. Will you amend your opinion?

[@tugger]

not to nitpick but what you are describing is an impasse or a fork in the road, not a 'dead end'

[@spanky7277]

The power of the dollar declines , but the rich still are getting richer . , But what about the workers ?

[@reverenceforall]

The reality is that any which way you look at it, Americans are screwed. Wouldn't be surprised though if one or two members of the vampire class decided to go for a joy ride into space.

[@davidevans6618]

$800,000.00 $25 hr. No tax or expenses 32,000 hrs work 1,333 full day 24 hrs. 3.9 years 8 hrs. Shifts, "5" days a week turns 3.9 years to...? You can do the math. Energy Coin Time Bank could have you in a home in four days of your work, paid in full. Do that math too.

[@robertchen9820]

Policies of the US government should be run by an AI program. There is no need for a Chairman of the Fed Reserve whose job is so kindergartenly simply, e i. e., increase or lower interest rates. Actuallty, on second thought, my EXCEL spreadsheet can do that, no need for an AI program.

[@davidevans6618]

Tell RT news, read my comments.

[@genfari9522]

get ready for prices to go up a lot more with this Russia stuff.

[@joandelur4407]

people on US likes Capitalism? here it is, enjoy...o learn to change, of course, toward Socialism, easy to learn from China, even them are ready to help on base a win+win politics and commerce.

[@jerrellhoggard6599]

Raise taxes on the rich they pay little or no taxes

[@user-zc1xn3re3j]

广义的剩余价值 抛开劳动价值论不说，我仍然可以通过法人制度实证存在广义的剩余价值。 我的观点很简单，法人制度导致了人类剥削的必然结果，剩余价值是人类博弈的必然结果。 所以，我的立论基础是基于博弈论的法人制度。 你不能否定博弈论，你就无法推翻我的观点。 你不能否认法人制度，你就不能否定人类之间的不平等，你就不能否定存在剩余价值。因为法人制度必然导致了资本家可以决定脑力劳动者和体力劳动者的劳动力价格，关键是资本家自己决定自己的劳动力价格。这是一个客观存在的事实。这是可以实证的。这可不是什么理论虚构的逻辑推理。 作为一个劳动者，资本家拒绝出卖自己的劳动力，从而拒绝承认自己存在雇主。只要资本家不出卖自己的劳动力，资本家就永远不可能变成雇员，就永远也不可能被自己的雇主作为法人剥削。 资本家深深的理解他人即地狱。 马克思是狭义的剩余价值，而我是广义的剩余价值。 什么是广义的剩余价值？ 神仙是不是宇宙的法人？ 哲学家和思想家，甚至于政治家，圣贤们是不是人类现实世界里的法人？ 神仙和哲学家、思想家、政治家们都不出卖自己的劳动力。但是，他们都是人类的主宰。他们都是人类世界的法人。所以，即使他们本人从来也没有积极主动的剥削人类。但是，极个别的人却可以通过假他们的名义剥削人类。 基于博弈论，人类处于囚徒困境之中。所有人不得不进行博弈。于是，人类互相博弈，于是，人类互相伤害并且互相剥削。 哲学家、思想家、政治家既剥削普罗大众，普罗大众也剥削哲学家、思想家、政治家。这是所谓的广义的囚徒困境。 圣贤们是不是劳动者？ 圣贤们有没有出卖自己的劳动力？ 如果圣贤们出卖了劳动力，谁拥有他们的劳动力？给了多少钱让他们为自己效劳？ 很显然，普罗大众没有给圣贤们任何佣金。注意:是佣金，而不是什么金钱。 不需要抬杠，事实胜于雄辩！普罗大众无论如何也不可能是雇佣圣贤的资本家（老板、雇主）！很显然，普罗大众剥削了圣贤。 同样，圣贤们通过法人制度，圣贤们也拥有人类世界至高无上的权力，他们不知不觉已经伤害了普罗大众的利益。 注意:剩余价值是双向的。不仅仅只是圣贤们剥削普罗大众。普罗大众也剥削圣贤。只不过，普罗大众是聪明反被聪明误。

[@Davod2139]

Marxist Chutzpah + The problem with Marxism and Leninism is Hegel. Hegel talks about historical consciousness. I think it was Lao Tse who said: 'People speak flowery words and start nonsense.' We must understand that an 18th and 19th century conceptualisation of what constituted consciousness of any kind is utterly laughable. They were talking out of their arses. Class consciousness, when cast in Hegelian terms is utter tripe. Das Kapital was an attempt to retrofit the idea of so-called class consciousness with a respectable philosophy; the evolution of class relations and class conflict as a motor for change. We grasp onto Marxist ideas because we want to believe. But Marxism is and always was, well meant ratiocinating tosh. THE PEOPLE'S EMPEROR HAS NO CLOTHES There is no direct link between collective relations to production and human consciousness that bypasses individual human psychology, or that overwhelms all other loyalties and experiences in order to determine human behaviour. That is merely a grand surmise. To say that class consciousness is the motor of history is huge chutzpa on the part of Marx. And to take Marx seriously means you must ignore all that we now know about the whole of human psychology and the effect of all the rest of life experiences on a human being. For example: their race, gender, sexuality, religious beliefs, nationality, the football team they like, the affinities they have with other people, their experiences abroad, the influence of their friends, the influence of the books they have read and the movies they have watched, their personalities, their traumas, their education. ..and it goes on and on and on. Human consciousness, geddit? Meanwhile, the majority of us don't share the exact same relations to production anyway, we aren't organised into grand concerts of workers, ready to be militarised at the drop of Trotsky's hat. Pizza delivery boys are the dispatch riders of the proletarian revolutionary army. This is 2022. The age of robots and loneliness, of WFH and zero hour contracts and if and when we unionise it will only be to ensure better pay and conditions - that's been the experience - not to overthrow the capitalist state and establish a dictatorship of the proletariat. At best/worst we just riot and loot shops. If people change society, it won't be because they are battalions of angry workers setting up Soviets, it will be because EDUCATED people and self-educated people dislike the status quo and band together inter-sectionally to change society for the good and not for the benefit of some new hegemonic white male dominated working class. HUMANE SOCIALISM NOT MARXISM We can be socialists without being Marxists. In fact, to be a humane socialist you cannot be a Marxist. To a Marxist we are nearly all for the chop - just ask Pol Pot, Mao and Stalin. arsnotoria.com/2022/01/01/editorial-what-is-humane-socialism/

[@davidevans6618]

I got a clue, you got a marble ? 😂, Jk, maybe.

[@walden6272]

This is just karma, professor. It's finally biting us back.

[@davidevans6618]

Sorry I might be a bit of a pest here, but I don't here you giving a solution to the misery that will come as a result of not having a solution. Keep that in mind, I'm just a guy, with concern, no different than you.

[@vincentjmasci654]

It's a dead end of Trump

[@asifalibaluch4968]

Professor.Why don't you study Islamic economic system.so lets study Holy Quran to find your answers from divinity

[@hershgoel7733]

This guy's got no grasp of economics. He just keeps on rambling about financial transactions...

[@hershgoel7733]

What is "capitalism" that he blames for the current mess?

[@sheilamacdougal4874]

Not terribly enlightening. One would like to see charts, for instance, demonstrating how unemployment varies with high interest rates and with rising interest rates. Right now unemployment is very low, as it has been for most of the decade aside from pandemic-related turbulence. Everywhere I go I see signs advertising hiring. A well-established pharmacy in my area has even cut its opening hours due to insufficient number of staff. Many regions are afflicted with underemployment. As supply chains return to normalcy, pent up demand should further stimulate further, driving wage inflation to catch up with price inflation. This presentation was more lefty-activist than serious, and the comments section is as usual abysmal.

[@john-lenin]

A grifter on the Left

[@chrisbremner8992]

The world changed and the fools in Washington didn't notice or rather refused to notice , a collapse in living standards on the way.

[@eoronolkerdssoniarkol3464]

r05myz VYN.FYI