News for hackers. Stuff that matters.

A comment on The Fed now owns nearly 1/3 of all U.S. mortgages. Parent comment

Re:The Fed now owns nearly 1/3 of all U.S. mortgages by JMTQp8lwXL on Wednesday September 09, 2020 @01:50AM (#24417647)
Inflation for luxury goods or the types of things the 10% buys (which has some overlap with everyone else: they too, need food, housing, etc). But most households don't need more than 1 washing machine. So you gift any amount to the top 10%, but washing machine prices aren't going anywhere.
[ Parent | on HN ]
Re:The Fed now owns nearly 1/3 of all U.S. mortgages by alisonkisk on Wednesday September 09, 2020 @02:54AM (#24418051)
Healthcare, education, housing prices go somewhere though.
[ Parent | on HN ]
Re:The Fed now owns nearly 1/3 of all U.S. mortgages by Red_Leaves_Flyy on Wednesday September 09, 2020 @06:40AM (#24419572)
Just about every thing limited by domestic labor has been inflating for decades.
[ Parent | on HN ]
Re:The Fed now owns nearly 1/3 of all U.S. mortgages by jcfrei on Wednesday September 09, 2020 @09:22AM (#24420715)
Globalization is certainly a very important factor but technology also has to be mentioned. In lots of industries it has massively reduced the bargaining power of the working people. Mostly because increasing output is much less dependent on labour than in the past.
[ Parent | on HN ]
Re:The Fed now owns nearly 1/3 of all U.S. mortgages by Red_Leaves_Flyy on Wednesday September 09, 2020 @10:29AM (#24421379)
Technology does not reduce labourers bargaining power. Legislating away workers protections, union busting, and allowing unchecked capitalism to depress wages while skimming the profits off the top and socializing the externalities reduces bargaining power.
[ Parent | on HN ]