Comment This is kind of a no shit Sherlock (Score 2, Insightful) 34
The entire point of raising interest rates is to reduce the creation of new jobs and with that comes the creation of new businesses. The idea is that we're all supposed to lose our jobs and be unable to find new jobs and be forced to take much lower paying jobs after blowing through all our savings and because of that we're going to spend so little money inflation just *has* to come down.
It's a pointless and cruel way to control inflation and it's not going to work because our current inflation is caused by monopolies price gouging. But for some damn fool reason every single American is absolutely convinced they're not going to be the one to lose their job or take a pay cut and so nobody really opposes it.
It's like the old saying, recession is one year neighbor loses their job and a depression is when you lose your job. We're a nation of psychopaths. Or at least every man for himself. Which is a terrible way to live
It's a pointless and cruel way to control inflation and it's not going to work because our current inflation is caused by monopolies price gouging. But for some damn fool reason every single American is absolutely convinced they're not going to be the one to lose their job or take a pay cut and so nobody really opposes it.
It's like the old saying, recession is one year neighbor loses their job and a depression is when you lose your job. We're a nation of psychopaths. Or at least every man for himself. Which is a terrible way to live