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176 sats \ 5 replies \ @kepford 25 Apr 2023 \ on: Britons ‘need to accept’ they’re poorer, says Bank of England economist bitcoin
You see, inflation is not the fault of the money printers... its the plebs fault for living. Buying food and paying for shelter. Suckers.
I'm debating whether to choose this article as my annual Guardian read. Let' s see.
"Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages"
Businesses pricing products and services competitively to offset global money printing and people considering what is fair compensation for their time is not okay anymore.
Hmm should I read more?
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Depends on your time preference.
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You are right. Was worth the read. Some gems in there.
"0.25 percentage points to 4.5%", "greedflation", "central-banking circles" ..
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Don't you just love the logic these fiat clowns use? Its greed! I mean, on the one hand I agree. But greed always exists. That doesn't explain inflation. The central banks create this situation. Business owners are always greedy. So are consumers. I don't want to pay any more than I have to for goods. That's just a different type of greed. But obviously these people that say these things know its not true. But it does sound good to the ignorant masses.
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I suppose it's true.
After spending a fairly equal proportion of my life in both 'capitalist' and 'communist' countries, I came to the conclusion that greed is just endemic to life. But like the by-gone days of barter (and when 'capatlist' and 'communist' countries both had price haggling in markets and with street vendors) there was real price discovery.
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