Re:White House deletes tweet after Twitter adds 'context' note
by ravel-bar-foo on Friday November 04, 2022 @06:34PM
(#33474904)
The US is the world reserve currency, so in uncertain times investors in foreign countries buy dollars. This is the only reason why the US is not currently seeing inflation rates of 20 or 30% per year.
The rest of the world is not uniformly seeing inflation. I heard this morning that Canada is at 3.5%. Korea is at 6%, and this is driven by import prices, since the USD is at high demand.
Domestically to the US, it's more complicated. Boomers are retiring causing a labor crunch, but businesses are attaining record profits which just about match the magnitude of price increases.
The rest of the world is not uniformly seeing inflation. I heard this morning that Canada is at 3.5%. Korea is at 6%, and this is driven by import prices, since the USD is at high demand.
Domestically to the US, it's more complicated. Boomers are retiring causing a labor crunch, but businesses are attaining record profits which just about match the magnitude of price increases.