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The 2022-23 Economic Crisis Megathread

Started by Tamas, May 25, 2022, 05:15:04 AM

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celedhring

I just got a raise above inflation, should I feel guilty for ruining the economy?  :(

Tamas

Quote from: celedhring on August 05, 2022, 03:24:50 AMI just got a raise above inflation, should I feel guilty for ruining the economy?  :(

Yes. It's definitely not the fault of central bank policies of the last decade.

Admiral Yi

Quote from: Tamas on August 05, 2022, 03:26:47 AMYes. It's definitely not the fault of central bank policies of the last decade.

That's not the question he asked.

Tamas


Josquius

So... Interest rates up, inflation high etc...

But bank accounts still seem to offer virtually zero interest? :unsure:


Quote from: Crazy_Ivan80 on August 05, 2022, 02:39:14 AM]

Nope. Only people on the outside would say that, but they're generally ignorant on the country.
My advice: go to Holland or the Nordics. They have a state that is actually performance, when compared to Belgium.

From what you said it sounded good.
That would be my preference but :frog:
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Sheilbh

Interest rates are up but base rate is still only 1.75% which is historically very low? :hmm:
Let's bomb Russia!

Tamas

I have recently switched my savings account to Chase where I am earning a MASSIVE 1.5% interest.

Tamas

Did the rules on what constitutes a job changed recently in the US? The stock market ain't going to like this:

QuoteJuly nonfarm payrolls 528K, Exp. 250K

Berkut

Quote from: celedhring on August 05, 2022, 03:24:50 AMI just got a raise above inflation, should I feel guilty for ruining the economy?  :(
Of course not.

I am sure I will give raises above inflation to my best people. 

But that will be because they are talented and I want to keep them. They get good raises regardless of what inflation is at.

The question is whether it makes sense to give people raises solely on the basis of the rise in inflation.

Should the "base" raise for everyone be based on the floor of the CPI in some fashion?

1. Is that good public policy from the standpoint of managing inflation?
2. Is that even feasible from the standpoint of running a viable company?
"If you think this has a happy ending, then you haven't been paying attention."

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crazy canuck

Is it good public policy to have declining real incomes? Probably not.

Habbaku

Is there a country in the world whose public policy is to have declining real incomes?
The medievals were only too right in taking nolo episcopari as the best reason a man could give to others for making him a bishop. Give me a king whose chief interest in life is stamps, railways, or race-horses; and who has the power to sack his Vizier (or whatever you care to call him) if he does not like the cut of his trousers.

Government is an abstract noun meaning the art and process of governing and it should be an offence to write it with a capital G or so as to refer to people.

-J. R. R. Tolkien

Berkut

Quote from: crazy canuck on August 05, 2022, 10:12:48 AMIs it good public policy to have declining real incomes? Probably not.
Glad it is so simple.
"If you think this has a happy ending, then you haven't been paying attention."

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crazy canuck

Quote from: Habbaku on August 05, 2022, 10:14:20 AMIs there a country in the world whose public policy is to have declining real incomes?

I don't think so, at least I hope not. I was just answering one of Berkut's questions.

crazy canuck

Quote from: Berkut on August 05, 2022, 10:19:05 AM
Quote from: crazy canuck on August 05, 2022, 10:12:48 AMIs it good public policy to have declining real incomes? Probably not.
Glad it is so simple.

Well, you did ask a pretty simple question.

Berkut

Quote from: crazy canuck on August 05, 2022, 10:28:38 AM
Quote from: Berkut on August 05, 2022, 10:19:05 AM
Quote from: crazy canuck on August 05, 2022, 10:12:48 AMIs it good public policy to have declining real incomes? Probably not.
Glad it is so simple.

Well, you did ask a pretty simple question.
ACtually, it wasn't that simple at all. You reduced it to something simple so you could provide a pat answer that doesn't advance the discussion or mean anything.

" 1. Is that good public policy from the standpoint of managing inflation?"

That is not a simple question at all, and noting that declining real incomes is generically undesired doesn't answer it even a little bit. In fact, it is a stupid response that ignores the actual complexity of the problem in favor of a strictly political agenda that is paper thin.
"If you think this has a happy ending, then you haven't been paying attention."

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