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Joined 1 year ago
Cake day: August 2nd, 2023
  • mind@lemmy.worldtoLemmy Shitpost@lemmy.world•gotdamn
    471·
    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.