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bryanlarsen • today at 3:59 PM • 4 replies • view on HN

The Fed can control inflation through demand destruction. Tank the economy and throw enough people out of work so people buy less and inflation goes down.

It's like chemotherapy: it works, but it destroys so much of the rest of your body in the meantime that sometimes you wonder if the pain is worth the gain.

Trump & Congress have access to much less painful means to lower inflation, but they've refused to act.


Replies

LdBaringSwallow • today at 5:17 PM

Trump & most of Congress have no idea how the world works as they chose willful ignorance and fail up thanks to post-WW2 demand for American goods as the rest of the world was a crater

50+ year olds have done little more than take STEM research generated in the pre-1950s late 1800s era of science and copy the knowledge to computers; no net new physical science has come out of the last 50 years; it's all just carrying on nuclear, relativity, electromagnetism research conducted in the pre-1950s era; leadership is a bunch of know nothing American philosophers.

The very definition of functional illiterates who cannot reason outside their childhood cultural tropes; American domination and subjugation of the globe

They noodle tiny decimals of percents such the financial network effects make them richer.

That’s work to them. Zero meaningful contribution. They're TV personalities who offer nothing more to humanity.

Despite the obvious big picture trend all this science and tech existed even if in just rudimentary form when they were in Sunday school; they truly believe they're a divine people lucking into existence and responsible for human progress; 100ish million truly insane lead gas fume huffing, post war/cold war paranoid people control American economy and politics

JumpCrisscross • today at 4:02 PM

> tank the economy and throw enough people out of work

Rates can be raised, and demand cooled, without raising unemployment.

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SoftTalker • today at 4:01 PM

What are some of the less painful means?

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jimbokun • today at 4:52 PM

> Trump & Congress have access to much less painful means to lower inflation, but they've refused to act.

Elaborate?

Do you mean raising taxes and cutting spending?

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