Smash mouth genie
Built like a linebacker
Interest rates go up which results in increased revenue (and money) for the bank, which doesn’t have value backing it. In essence it increases the amount of dollars in the economy, lowering the value of the existing dollars within the economy.
People don’t just stop borrowing money when interest rates go up, especially when the economy is so bad people can’t afford to live on their pay.
Keep in mind what interest represents to the bank.
I do have faith in weird pockets of people who have niche interests like role playing games and people who create cool things and write, but the masses disappoint me.
I’m not worried about this tech replacing people, I’m worried about the fact that people are actively losing neural elasticity from using LLMs to think for them.
It’s both. 100% both. What kind of question is that?
Autopsy of the DNC?
I’d hate to be the soulless fool who downvoted you
You’re making a lot of assumptions about how I think here dude. Also i never said that was the only thing that affects inflation.
There are a lot of factors that push and pull. I know there’s a lot of info out there that contradicts what I said but I also know there is a lot of incentive for us to believe that banks increasing rates naturally lowers supply of money in an economy, so of course you’ll find a ton of articles stating that as fact – needless to say I am skeptical.
I don’t know if it’s completely true, just like how the invisible hand of the capitalist economy is assumed to allocate resources effectively, but we know that in practice it does not, because people don’t just choose to stop purchasing things they need when they get expensive.
So my thoughts are this: how much of this theory is based on an assumption of human nature that’s more optimistic than in practice? Because a LOT of our economic theory operates this way.