downpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 1 year agogotdamnmedia.kbin.socialimagemessage-square296fedilinkarrow-up12.49Karrow-down151
arrow-up12.44Karrow-down1imagegotdamnmedia.kbin.socialdownpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 1 year agomessage-square296fedilink
minus-squaremind@lemmy.worldlinkfedilinkarrow-up48arrow-down1·1 year ago During that time, the central banks printed a shitload of money creating a shitload of inflaction. The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population. Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business. Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.
minus-squareonionbaggage@lemmynsfw.comlinkfedilinkEnglisharrow-up4arrow-down1·1 year agoWorking as intended.
The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population.
Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business.
Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.
Working as intended.