Re:US banks have $620B of unrealized losses on their books
by alexb_ on Friday March 31, 2023 @01:42PM
(#35390455)
I hope not. Interest rates need to rise. Yes, you're gonna make some people lose a lot of money. But the economy cannot continue with inflation this high and we certainly do not want to go back into pre-2022 craziness where money is thrown around at complete nonsense because it's so cheap.
[ Parent
| on HN ]
Re:US banks have $620B of unrealized losses on their books
by welshwelsh on Friday March 31, 2023 @02:09PM
(#35390912)
I'm a big fan of the high-inflation economy, we should go back to that.
It seems to me that "inflation" is just another word for "worker power." It means there is low unemployment and lots of opportunities to hop to a higher paying job. It means you can work remotely and tell your boss to get stuffed if they want to RTO. Prices go up but if you play your cards right, you can increase your income by significantly more.
Re:US banks have $620B of unrealized losses on their books
by TinyRick on Friday March 31, 2023 @02:22PM
(#35391135)
It also means prices are higher. A significant portion of the population lives on fixed incomes or don't have the means to switch to a higher paying job, and were getting destroyed in the high inflationary environment.
Re:US banks have $620B of unrealized losses on their books
by purpleblue on Friday March 31, 2023 @02:21PM
(#35391117)
This is not true at all. The people most affected by high inflation are the lower-income people, who don't have flexibility. It's not always easy to just "find a new job". And salaries rarely are commensurate with inflation. Food inflation in the UK hit 18%, since when did low-income salaries go up that much? Spoiler alert: it doesn't and just leaves lower-income people in a deep hole.