the powers that be are doing an excellent job of confusing people as to WHY we’re seeing the biggest inflation in 40 years.
now obviously this is hugely complex issue with many contributing factors, but it’s also important to try to isolate what’s arguably the “biggest” reasons the economic landscape has so suddenly changed.
Link to the run away inflation we’ve been seeing since June 2020
what i’m worried about is the “forgotten story” of the 500 billion tax dollars we gave to wealthy corporations during the first round of the CARES Act… this is when the inflation really started taking off.. it’s the second largest bubble listed here..
so they took 500 Billion of OUR tax dollars.. allocated it to wealthy corporations.. and IMMEDIATELY sold that along with 200 Billion in mortgage backed securities to The Fed for 850 Billion in loans (received by these same corporations)..
now this summary of spending isn’t my favorite resource.. i bookmarked it at the time as it seemed concise and there wasn’t a lot of other resources covering these details tbh..
so i’d love to take advantage of this community’s collective knowledge to find further resources on this and make sure i have the correct understanding.
it’s hard to get anyone to agree on anything in america.. but this certainly must have been a great deal for the billionaires because they clearly all agreed this was collectively in their best interest.. why not just take the 500 billion? why turn it into loans?
now obviously that money could have paid for a universal healthcare system during this once in 100 years pandemic for example..
but instead, the recipients of these loans used that cash to rob peter to pay paul..
they paid off their debts and laundered their dirty money.. and were ‘able’ to falsely report their businesses were doing better than ever.. falsely inflating the economy.. this is how the economy ‘looked so good’ during the last year of trump..
then matters were made worse when biden coincidently forgave 400 billion in covid PPP loans 6 months ago..
can’t forgive the student debt you promised during the election when you’re prioritizing letting the billionaires do whatever they want..
i feel like anyone who was paying attention at the time knew this was likely the single biggest threat to inflation in decades..
now here we are and these same perpetrators just want us to ‘don’t look up’..
so was this what tipped the scale for inflation? is there a larger single factor?
i’m not an economist by trade.. just a pissed off working class poor person.. but i’d love to open this up to the community and find out if i’m missing anything here..