downpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 11 months agogotdamnpinmedia.kbin.socialimagemessage-square216fedilinkarrow-up12.01Karrow-down134
arrow-up11.97Karrow-down1imagegotdamnpinmedia.kbin.socialdownpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 11 months agomessage-square216fedilink
minus-squaremind@lemmy.worldlinkfedilinkarrow-up48arrow-down1·11 months ago During that time, the central banks printed a shitload of money creating a shitload of inflaction. The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population. Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business. Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.
minus-squareonionbaggage@lemmynsfw.comlinkfedilinkEnglisharrow-up4arrow-down1·11 months agoWorking as intended.
The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population.
Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business.
Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.
Working as intended.