downpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 1 year agogotdamnmedia.kbin.socialimagemessage-square198fedilinkarrow-up12.32Karrow-down153
arrow-up12.27Karrow-down1imagegotdamnmedia.kbin.socialdownpunxx@kbin.social to Lemmy Shitpost@lemmy.world · 1 year agomessage-square198fedilink
minus-squaremind@lemmy.worldlinkfedilinkarrow-up45arrow-down1·1 year ago During that time, the central banks printed a shitload of money creating a shitload of inflaction. The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population. Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business. Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.
The Fed increased the money supply to prop up stocks, essentially giving cash to stock owners. 90% of stocks are owned by 10% of the population.
Average PPP loan forgiven is almost $100K, and that free cash only went to those doing well enough to own a business.
Meanwhile inflation caused by this effectively lowers workers pay and the real purchasing power of the minimum wage.