/biz/ - Business & Finance

[Anonymous No.18893459]

>If you give everyone $1200 then everyone will just raise their prices by $1200. It's inflation bro. Learn economics.

How come this hasn't happened yet? The "experts" promised us this is what would happen if the government gave everyone free money. Is there any proof that UBI or raising the minimum wage actually contributes to inflation? All the corporations know that Americans have an extra $1200 in their pockets so why haven't they all just randomly raised their prices just cause they can!!!

[Anonymous No.18893669]

[Anonymous No.18893698]

>>18893459
>why haven't they all just randomly raised their prices just cause they can!!!
They have...

[Anonymous No.18893755]

>>18893459
>The "experts" promised us this
If your experts are republicucks, then maybe you should stop watching a lot of Fox News or going on shit /pol/ threads. The only people against UBI are generally more right leaning people with their religious view chanting "DATS SOCIALISM!!"

UBI has worked in soft-cases, which we call welfare. It's a targeted form of UBI. It helps lower class people get out of poverty or though times. Generally giving people money goes back into the economy and can help economical growth while making lower/middle class people happy. Only people who are against UBI are major bootlicking cucks.

[Anonymous No.18893776]

>>18893459
>"experts
>implying the talking heads are any less clueless than your average american

[Anonymous No.18893784]

>>18893459
When you have a central bank using MMT principles to make the rich richer and a government with a metaphorical gun to the heads of other nations in the form of the most powerful military in the world, you can print as much money as you want.
Of course there are consequences in the form of inflation, but for these reasons a real hyperinflationary crisis would hit other countries before it reached the US. But we can theoretically redistribute wealth however we see fit within reason, which is why UBI is plausible but it's not politically viable. Establishment Republicans would rather die than implement such a program. But who knows what could happen

[Anonymous No.18893796]

>>18893755
those countries weren't filled with niggers were they? niggers are why we cant have nice things

[Anonymous No.18893805]

>>18893755
It doesn’t necessarily help them get out of poverty though. Instead it often enables multigenerational gibs me dats. Look at the way we treat the Indians in Canada (feather not dot): they get a free ride and rather than using the opportunity to better themselves they become chronic alcoholics. Human nature is what it is

[Anonymous No.18893810]

>>18893459
A temporary increase in a government transfer is NOT a permanent increase in consumer income. Companies know this, and because they build expectations about the future, they will not increase prices when there is a one-off change in consumer income. Plus, prices are sticky anyway.

Unironically learned this in college when I was 19. Stay in school.

[Anonymous No.18893824]

>>18893796
>It's nigs fault!
>it's spics fault!
>it's ____ fault!

Maybe it's the voting demographics fault that doesn't want nice things?

[Anonymous No.18893828]

>>18893459
>everyone will just raise their prices by $1200
My bus ticket still two bucks tho. OP BTFO

[Anonymous No.18893831]

MIGAtards hate socialism until it’s their side handing out the trillions in bailouts and cash to niggers. Then it’s incredibly based.

[Anonymous No.18893833]

>>18893459
some foods are more money now, hmmm

[Anonymous No.18893840]

Wow! You mean retards on /pol/ don't understand macroeconomics or the basics of MMT? Wow! You mean they're uneducated? Wow!

>>18893784
This anon gets it. USD is fucking deflationary right now. Virtually every currency is getting devalued compared to the dollar. Just fucking check the graph of eur/usd or gbp/usd.

The only people who REEE about inflation are conservatards who don't understand the dynamic between US and rest of the world, petrodollar, etc and still continue to shill their retarded trickle down bull shit.

[Anonymous No.18893849]

>>18893755
Finland had UBI test and already gave up this idea, leftard.

[Anonymous No.18893857]

>>18893459
My landlord raised rent by exactly $1200 USD.

[Anonymous No.18893879]

>>18893840
MMT is a sorry excuse for economics, but yes, there is huge deflationary pressure on virtually all currencies atm.

[Anonymous No.18893883]

There's high demand for the dollar from abroad which increases its value. Printing more lowers its value. Cumulatively the value doesn't change. Basically foreign countries are paying for your UBI.

[Anonymous No.18893892]

>>18893459
Literally no credible economists claim it would cause hyperinflation.

What the economists do pretty much unanimously agree on is that you WANT people to have money, and to spend it in the economy. It's generally well-accepted that when money does not circulate and get spent it is not a good thing.

[Anonymous No.18893926]

>>18893840
The relation between a sizeable chunk of the world, including major oil producers, and the us is getting a bit teneous.

[Anonymous No.18893927]

>>18893459
these effects are laggy. they don't happen immediately.
most social welfare doesn't actually cause these effects, though. for instance, minimum wage might only affect low income neighbourhoods, and even then prices wouldn't just rise by the minimum wage because minimum wage is not something that everyone in every family receives. additionally, it would likely not affect stuff like groceries much, only rent and such at best.
the thumb rule is that this effect becomes more significant when the welfare is more global.
everyone gets UBI, so it isn't that unlikely that these effects might actually occur with UBI, despite them not occuring with minimum wage.
i think people are right to be cautious with implementing it at a wide scale. in my opinion, if you're convinced that it won't cause issues, you have to introduce it at least gradually to make sure that the theoretical effects are not significant.

[Anonymous No.18894105]

>>18893805
Studies have shown welfare does decrease poverty. Just because you/re a fucking brainlet devolved in /pol/tier memes doesn't change that reality. I could source you wiki links and links to academic sources but obviously you don't care for those because you want to spread an agenda, leafcuck.

>Look at the way we treat the Indians in Canada (feather not dot): they get a free ride and rather than using the opportunity to better themselves they become chronic alcoholics
And this one case you think is an example of removal of welfare entirely?
Even if I think your narrative on this (it probably isn't), do you think this one case is dismissal of entire welfare/ubi types of programs? Can you even link the casual link of that to welfare programs? Because I think you're bullshit and it has effected mostly positively throughout most of first world countries. If it didn't you'd be seeing a lot of right-wing media outlets going around spouting "facts and figures" against welfare programs.

[Anonymous No.18894150]

>>18894105
I want the sources anon, I want to learn.

[Anonymous No.18894227]

>>18893755
trump supporters are literally the bourgeoisie marx wrote about.

[Anonymous No.18894237]

>>18893459
It’s a time of uncertainty where people are spending less and also forced to spend less.

[Anonymous No.18894324]

>>18893459
This thread is filled with consequentialists. It doesn't matter if UBI makes people's lives easier; the reality is that it's wrong to forcibly redistribute justly acquired wealth. You'd think this board of all boards would know this.

[Anonymous No.18894334]

>>18893927
This is a dogshit social scientist anon explanation.

The real answer of course is that inflation is a product of both the supply of money and it’s velocity. Think about it like a hose where the diameter can vary and also how fast the water flowing through the hose can vary. Prices in this sense could be thought of as how much water you can spray out of the hose in a given period of time.

So much fake knowledge being proliferated nowadays.

[Anonymous No.18894345]

>>18893459
Trumptards and conservatives are the biggest retards on the planet. Richard Spencer is right

[Anonymous No.18894367]

>>18894105
Welfare has only resulted in more welfare spending. That’s the only reliable causation. The biggest glaring issue about UBI is moreso that elections will just be based on increasing gibs. Welfare in early America used to be that opportunity was abundant.

[Anonymous No.18894409]

>>18894324

>It doesn't matter if something works. What matters is if it's morally right or wrong!

[Anonymous No.18894428]

>>18893459
They are retards.

[Anonymous No.18894514]

>>18893926
doesn't matter so long as petrodollar exists.

petrodollar will exist so long as US military exists.

gg

[Anonymous No.18894532]

>>18894334
wow great analogy anon do you have any more of these

[Anonymous No.18894544]

>>18894324
shut the fuck up, tard. taxes will exist forever.

[Anonymous No.18894576]

>>18894532
it's not just an analogy you retard it's the literal equation that defines inflation.

fucking christ

[Anonymous No.18894638]

>>18893796
>muh niggers
most people on welfare are white children

[Anonymous No.18894640]

>>18894409
>mom we should somehow care about some poor degenerates give themfree money or they die. mom look at the poverty graph

[Anonymous No.18894688]

>>18894576
anon accused me of being a social scientist, so i might as well go through with it!
luckily none of you are model theorists, so you can sleep well without realizing that your kind confuses theories and models on a daily basis.

[Anonymous No.18894703]

>>18894409
if a society can spend its way to "wealth" why doesn't it just do that?

checkmate newfags

[Anonymous No.18894716]

You poorfags realize most people didn't get the $1200 right? Its was only given to poor people. If you make average wage you didn't get it. And $1200 one time is really not a lot of money. Ok, its 1/2 a mortgage payment for one month. The average income was $127k in 2019. The $1200 would be less than 1% for the average person. Its only really meaningful if you're poor and need to make rent. Its like welfare or foodstamps its not actually a lot of money.

[Anonymous No.18894824]

>>18893459

Because it’s all a lie propagated by billionaires to retain their power. Same thing with minimum wage. The state’s that raise it are better off.

[Anonymous No.18894872]

>>18894514

Petrodollar is meme spouted by pseuds.

[Anonymous No.18894891]

>>18893459
Because it was a one time payment during a global pandemic you stupid faggot

[Janet Yellen No.18894911]

>>18893784
Someone that knows what they're talking about. Surprising.

[Anonymous No.18894960]

>>18894105
>Studies have shown welfare does decrease poverty.

...wouldn't that be because instead of making less money you're literally getting more from welfare? Like that's saying you can't be hungry if I'm giving you food

[Anonymous No.18894983]

>>18894716
>The average income was $127k in 2019.

[Anonymous No.18895057]

>>18893784
Are republicans opposed to UBI because of their autismal "obligation" to their dumb fuck >muhhh communism voting base? Because from things I've read on UBI it seems like something republicans would actually be in favor of. It increases liquidity and continues growth, 2 things that are very valuable for a capitalistic system to continue functioning. Maybe i'm just smooth brained though.

I really don't understand the purpose of the republican party. Are they just a party for oil boomers and hicks, who wanna feel morally right about maintaing some dumb fuck idea of a 1900 Christian utopia alive?

[Anonymous No.18895089]

>>18895057
Damn, they got you good with the brainwashing

[Anonymous No.18895100]

>>18893755
You clearly have never left your parents suburban paradise if you think this. 8/10 bait, subtle enough but still provocative.

[Anonymous No.18895115]

>>18893755
>welfare
>helps lower class people get out of poverty
explain niggers.

[Anonymous No.18895144]

>>18895057
it mostly serves itself.
you should give up on trying to find consistencies in followers of lead actors of the culture war. i think we're way beyond that point.

[Anonymous No.18895178]

>>18895057

Its funny that you think anyone in government knows what the fuck is going on. No one is steering this shit. Politicians just go along with w/e herd mentality there is. Right now with republicans is just muh immigrants, muh communism, and their policy is just hand outs to industry lobbyists because republicans "trust" them.

And lets face it, monetary policy is an absolute shit show. Jpow is a fucking retard who has no clue what he is doing. 18 months ago he was tightening. Now its the looses monetary policy in history and the fed pretty operates under at the trump treasury's political will.

Yeah, USD is the reserve currency. Its the tallest midget. Everything else sucks so the dollar is strong. For now. The moment the USD growth as as a reserve currency slows down, let alone peaks, and we have an net inflow of dollars into the US, the dollar is dead. And so is the country. Its just a matter of time. We are living in the twilight of a failing super power.

[Anonymous No.18895392]

>>18893784
>Establishment Republicans would rather die than implement such a program
That can be arranged

[Anonymous No.18895441]

>>18894324
>justly acquired wealth
Jew-run crony capitalism is not justly acquired wealth. Not wanting to drag every kike banker, kike stock broker and kike hollywood bigshot into the street, kill them, and redistribute their money is just being a fucking cuckold for the jews.

[Anonymous No.18895457]

>>18893459
As minimum wage goes up the price of goods will go up. Hurts the middle class. And still have to ask for straw and napkins....

[Anonymous No.18895484]

>>18893459
Inflation is a meme, government can state any price they want on goods because they own the globe by force through death or imprisonment. 2008 was planned, 2020 will be planned with a whole revamping of our currency system.

[Anonymous No.18895507]

>>18894324
>the reality is that it's wrong to forcibly redistribute justly acquired wealth.

[Anonymous No.18895534]

>>18893698
no, they haven't...

[Anonymous No.18895587]

>>18893459
Put a log on top of a pile of logs and the pile goes up

put a log in a flushing toilet and it goes down.

that $1200 went right down the toilet

[Anonymous No.18895889]

>>18894105
>Studies have shown that arbitrary policy is correlated with arbitrary parameter
The soft sciences were a mistake

[Anonymous No.18896025]

>>18894983
>Using logic against boomercucks
Lmao anon, you're too kind

[Anonymous No.18896232]

>>18895507

[Anonymous No.18896343]

>>18895507
>"Total value produced by your labor" somehow includes the contribution of the entrepreneur

[Anonymous No.18896345]

>>18894324
Jesus Christ what a faggot.

[Anonymous No.18896515]

>>18893828
But your burgers and French fries will cost $20 minimum soon.

[Anonymous No.18897885]

>>18894105
I love how you go absolutely hyperbolic based on my comment in which in no way did I suggest that all welfare should be abolished but merely presented an example of a case where unfettered ubi has wrecked a whole group for generations. I submit that you’re a fucking retard

[Anonymous No.18897926]

>>18893459
$1200 check empowered the working class the most. This stimulates the economy, driving prices up to counteract the inflation