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Inflation erased U.S. income gains last year

(www.wsj.com)
177 points JumpCrisscross | 1 comments | 09 Sep 25 19:44 UTC | HN request time: 0.233s | source
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argentinian ◴[09 Sep 25 22:18 UTC] No.45190101[source]▶
Do people in the U.S. have a good understanding of the causes of inflation?
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OgsyedIE ◴[09 Sep 25 22:26 UTC] No.45190196[source]▶
Not even most economists do, by analogy to how opaque the questions of lifting bodies and rayleigh scattering are to physicists.
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Eddy_Viscosity2 ◴[09 Sep 25 22:31 UTC] No.45190266[source]▶
Yeah no, economists and a lot of people understand the the causes of inflation. There are economists who are paid very well to not understand it though, and such positions are often high in the government and financial sector hierarchies.
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1. OgsyedIE ◴[09 Sep 25 22:47 UTC] No.45190472[source]▶
No really, transonic flow and turbulence are less complicated than what's really going on underneath the quantity theory of money. If it was easy there would be fewer economists.