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by hnfong
1253 days ago
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Worse, they're actually sort of using unemployment rate as a benchmark on when the economy has cooled down and when to stop raising the rates. eg. https://www.forbes.com/sites/dereksaul/2022/10/12/does-the-f... It's politically incorrect to say the Fed is trying to make x% people lose their jobs but that's basically what they're scheming for the past year or so... |
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Our system relies on the fear of the bottom. Capital is in charge, they require the threat of destitution in order to continue to get away with their continued extraction. When wages go up, more power is vested in the worker which isn't okay by the folks at the top.