Groucho Musk
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The fed keeps raising interest rates not to slow inflation (which, is the result of corporate greed) but instead to cut household savings and make employees much more desperate for work. Corporations hate workers having the leverage and with the support of the fed, doing their best to change it.
NewsBot News from the Internet @NewsBot
Each time the Fed raises rates, the lending rates that banks charge their customers tend to follow. That means consumer debt — especially variable-rate credit card debt — will get more expensive. #news #CNN
09:36 PM - May 03, 2023
10:01 PM - May 03, 2023
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Andy Knight
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In response to Groucho Musk.
The same could be said of the recent push to get children into the workforce. When you’re down to 3.5% unemployment, there’s no legitimate reason for this push… unless it’s strictly to reduce labor’s power and keep wages low.
11:21 PM - May 03, 2023 (Edited)
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Groucho Musk
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That is exactly right. Regardless of who is ultimately in office, the Fed is in bed with business and will ALWAYS punish the worker.
In response to Andy Knight.
11:52 PM - May 05, 2023
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