☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to US News@lemmygrad.mlEnglish · 4 months agoIs the Fed Behind the Curve? As Unemployment Rises, Worries Mount.www.nytimes.comexternal-linkmessage-square7fedilinkarrow-up115arrow-down10file-textcross-posted to: [email protected][email protected]
arrow-up115arrow-down1external-linkIs the Fed Behind the Curve? As Unemployment Rises, Worries Mount.www.nytimes.com☆ Yσɠƚԋσʂ ☆@lemmygrad.ml to US News@lemmygrad.mlEnglish · 4 months agomessage-square7fedilinkfile-textcross-posted to: [email protected][email protected]
minus-squareknfrmity@lemmygrad.mllinkfedilinkEnglisharrow-up7·4 months agoI thought the ruling class wants higher unemployment, as a “worker discipline device.” https://theintercept.com/2023/01/24/unemployment-inflation-janet-yellen/
minus-square☆ Yσɠƚԋσʂ ☆@lemmygrad.mlOPlinkfedilinkarrow-up6·4 months agoIt’s one of the core contradictions. Keeping the rates high is a way to build out a reserve army of labour, but it’s also destroying the consumer market which underpins the whole system.
I thought the ruling class wants higher unemployment, as a “worker discipline device.”
https://theintercept.com/2023/01/24/unemployment-inflation-janet-yellen/
It’s one of the core contradictions. Keeping the rates high is a way to build out a reserve army of labour, but it’s also destroying the consumer market which underpins the whole system.