Re:In supermarkets across Europe, inflation is leading to a ...
by aimbivalent on Wednesday March 29, 2023 @04:48AM
(#35354348)
What does a central bank, literally the fifth plank of communism, have to do with capitalism?
I didn't say anything about a conspiracy or even forethought. It's simple incentives and power dynamics. Imagine Lagarde or Powell saying "oops, we shouldn't have printed a gazillion billion dollars, after all so please fire me and Paul Krugman and all the other state-aligned Neo-Keynesians and put Peter Schiff in charge to dismantle the ECB/FED and replace it with free market money". Absurd. Much easier to opportunistically try to pivot this into more state control on the back of inflamed public opinion.
I didn't say anything about a conspiracy or even forethought. It's simple incentives and power dynamics. Imagine Lagarde or Powell saying "oops, we shouldn't have printed a gazillion billion dollars, after all so please fire me and Paul Krugman and all the other state-aligned Neo-Keynesians and put Peter Schiff in charge to dismantle the ECB/FED and replace it with free market money". Absurd. Much easier to opportunistically try to pivot this into more state control on the back of inflamed public opinion.