Re:Fed’s Balance Sheet Exceeds $7T for First Time in History
by harryh on Friday May 22, 2020 @08:51PM
(#23278768)
Low interest rates helped produce one of the best labor markets in living memory before covid19 hit. This was a huge boon to lots and lots of people outside of the 1%.
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Re:Fed’s Balance Sheet Exceeds $7T for First Time in History
by mindslight on Friday May 22, 2020 @09:02PM
(#23278840)
That's another piece of the mistaken middle class buy in - labor is not an end unto itself. At the same time we have massive technological progress focused on the goal of reducing human effort, the Federal Reserve is optimizing to keep everyone working full time. The entirely predictable result is a load of meaningless bullshit jobs, especially concentrated in the sectors that receive the new money.