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this will affect 7 million children btw (lemmy.world)
submitted 2 years ago by to c/parenting@lemmy.world
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[–] -5 points 2 years ago (1 child)

The USD is the world reserve currency. Inflation in the US affects all currencies because most debt is denominated in USD. You guys are seriously undereducated on the matter it's pathetic.

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  • [–] 3 points 2 years ago (1 child)

    So you're saying that the sole cause of inflation worldwide is the COVID stimulus checks? Or even that this is the primary driver?

    That's so insane that I need to make sure that's the point you're actually making.

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  • [+] -7 points 2 years ago (1 child)

    How else can you show your fake knowledge without a straw man? I'm not surprised. Let's follow up with that stupid comment you made.

    You do understand that within 1 year of COVID the money supply was multiplied by 3, if not more, right?

    https://fred.stlouisfed.org/series/M1SL

    Yes... we printed like 60% of the money supply, flooded the system with cash, created a tremendous bull market in stocks and all risk-on assets, and we expect it not to affect inflation. That's what you're trying to say. That's sane, right?

    You wish... not only we printed all that money, but we also handed cash to people to spend it in the economy, which created a spike in demand. But no... that has nothing to do with inflation. That's INSANE!

    Spare me your ignorance. Go read a book.

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  • [–] 5 points 2 years ago* (1 child)

    Lol this has nothing to do with money supply and everything to do with supply chains bro.

    This isn't some hidden knowledge you have. This has been studied and written about.

    Per studies, the stimulus did affect inflation, and was the cause of roughly a third of the inflation:

    https://research.stlouisfed.org/publications/review/2022/12/22/demand-supply-imbalance-during-the-covid-19-pandemic-the-role-of-fiscal-policy

    Also stop implying I'm a communist, thanks.

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  • [+] -6 points 2 years ago (2 children)

    Wait, am I hearing that stimmy DID affect inflation? lol! I'm happy you're conceding at least.

    Whether it's third or half, doesn't really matter. You can calibrate your factors depending on your model to get many different results and the truth will never be known, because all models and wrong and some models are useful. The point here is: I'm right, and stimmy checks caused inflation like you just admitted. Period. Stop arguing over nothing! And stop making straw mans to facilitate attacks on my point like you did two comments ago. Grow up!

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  • [–] 3 points 2 years ago* (last edited 2 years ago) (1 child)

    I'm not conceding shit lol. You made up like half the shit you claim, and you don't understand any of the underlying issues at play.

    You came in here acting like a dick, and people treated you like what you are - and underinformed person who is aggressive about a position they cannot defend.

    I didn't make up any straw men. If you're upset with how people respond to you, consider not insulting everyone right from the jump

    As I said above

    So you’re saying that the sole cause of inflation worldwide is the COVID stimulus checks? Or even that this is the primary driver?

    This is an insane claim.

    And I was asking for clarity about this

    All this inflation we’re seeing now is due to 3 stimmy checks from 2020

    Which is provably false

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  • [+] -6 points 2 years ago (1 child)

    I’m not conceding shit lol

    Yeah, right. Your ego is eating you alive it's becoming funny.

    You made up like half the shit you claim

    Yet you got a paper proving my point, and the best you got is that I'm "exaggerating". Good on you. I'm still right.

    If you've come here and said "it's not 100%, it's 50%", I would never have argued with you. But because you know I'm right, you had to use a straw man. See? This is how you detect disingenuous people who aren't here to learn or be honest, but are here to assert their dumb, impractical political agendas. No matter how you turn it, stimulus fucked the US economy. Period.

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  • [–] 2 points 2 years ago* (1 child)

    If you’ve come here and said “it’s not 100%, it’s 50%”, I would never have argued with you.

    I didn't come here and say shit. I called you out on an incorrect and inflammatory statement.

    Also you'd be wrong in your 50% scenario too because it's more like 30.

    No matter how you turn it, stimulus fucked the US economy.

    Genuinely would love to see your proof that the potential damage of doing nothing is worse than two years of inflation.

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  • [–] -4 points 2 years ago (1 child)

    Genuinely would love to see your proof that the potential damage of doing nothing is worse than two years of inflation.

    Easy. Hire me as your president, then I'll do that job.

    What a joke! Now because I'm right, it's my job (apparently) to argue with you for another few hours about a potential plan that no one gives a shit about for an imaginary scenario. It took me hours to make you admit a truth you already know. Imagine how long it'll take to make you learn something new you never heard of. Yeah... no thanks. Have a good day. Mission accomplished.

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