re: #61 No Malarkey!

The stock market took a pounding today.

This is because the Fed raised interest rates, when they should have known better not to, because the “inflation” right now is because of everything but monetary policy. COVID caused supply chain problems, Russian invasion of Ukraine, higher fuel prices, price-gouging by corporations who are blaming inflation because people are stupid, etc.

The Fed didn’t “print a bunch of money”, the government isn’t throwing money at people to not work, and inflation is happening everywhere but is the least bad here… and they all goddamn well know this. Raising interest rates isn’t how you deal with this problem and they are going to make shit worse.