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Joined 9 months ago
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Cake day: October 11th, 2023

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  • Sure, but “effectiveness” is usually not a binary and is often difficult to measure. Small, but persistent changes should still add up. Eventually.

    So long as people recognize that these things are in fact quite toothless, I’m not sure they are entirely detrimental. There’s no reason this couldn’t be used as a starting point for more effective action, now that signatories are in greater contact with the campaign.








  • the number of Americans who own 401(K) investments, which benefit from better stock index performance, has increased significantly in recent years

    This is the same as saying lots of Americans have bank accounts. The accounts could be empty.

    the US cooled inflation down to that level far faster than other Western economies (e.g. the UK and Eurozone)

    The US did not experience the same economic effects as the UK. The UK performed Brexit which raised the cost of goods by definition, and had their price of fuel skyrocket due to the effects of the Russia-Ukraine war. The US is not dependent on Russian oil.

    wage growth has actually outpaced inflation in recent years

    EDIT: Wages with respect to productivity have been stagnant since 1970, but today’s average worker produces far more value for their employer. Employers are not sharing their increased profits with their workers, who are making roughly the same as workers from 1970. So yes, workers got a very slight real increase in pay, but are still vastly underpaid.

    The inflation rate measures the price change of a basket of household goods

    No, it doesn’t. That’s the consumer price index.

    employers are more willing to be generous with pay raises when the economy is good. In short, people credit increases in wages to their own hard work but blame inflation on the Government.

    No, increased wages are not because bosses decided to be nice. Corporate profits reached records during the pandemic, paying more reduces profits. Unions and displays of labor activism in the US have expanded significantly in the past few years. People are demanding higher wages from their employers. The entire purpose of the Federal Reserve is to combat inflation. Action by the government is the only way to control inflation.

    Economists are not stupid.

    That’s debatable, but some are certainly self-serving.

    Tell me how high interest rates benefits those who have to borrow money for school, medical expenses, a car, or a first home.