> I hate "artificially low" why artificial? What makes something artificial and what makes it real?
When people have cheap access to money, they spend it. When they spend it in such a manner that it outpaces the ability of the supply side to, well, supply, the result is inflation. And that's what we saw in '21 and '22. You had someone handing out PPP loans like candy and forgiving them outright, you had stimmy checks (that weren't backed by anything real, but that's another story), you had people sitting around looking for stuff to pass lockdown with, etc.
So at that point, by definition, we're lower than the "natural" interest rate. This showed that a lot of businesses in the tech industry couldn't survive without dirt-cheap money to give them ever-increasing amounts of runway. You can't just hyper scale like Uber when borrowers expect the rate of return dictated by the now-higher "natural" interest rate.
> No data backing this up.
Besides decades of economic, social, environmental, and political events and trends, you're right. Wanna have a bottle of water from Flint, MI? I can pull one out of the cellar. 2015, a fine year.
> OC talking about media calling them 'flyover country' as if it matters / is somehow out of bounds conduct at all.
1) that's not indicative of the stuff you were charging
2) yeah, it is out-of-bounds conduct. It's an a-hole move to belittle poorer regions in your country, whether explicitly or in more tacit ways. If you do it long enough, you get where we are now. Anyone happy about that?
> And that's what we saw in '21 and '22. You had someone handing out PPP loans like candy and forgiving them outright, you had stimmy checks (that weren't backed by anything real, but that's another story), you had people sitting around looking for stuff to pass lockdown with, etc.
Yes, this is my whole point. The American Rescue Act and subsequent policies that were very much propping up salient jobs (certainly not wfh tech jobs that are, definitionally, resistant to lockdowns) fueled inflation that led to the end of zero interest rate period which led to large layoffs in tech.
> Wanna have a bottle of water from Flint, MI?
Flint falsifies your point, it is a democratic bastion. If you'd expect that to radicalize people, it should be deep deep read.
> yeah, it is out-of-bounds conduct
Out of bounds is a social norm over time. Donald Trump, their far and away champion, gives such egregious conduct I can't read this with a straight face.
But we can go further back. Was 'just say no' not egregious enough for you? AIDS shaming? The vicious anger against gay people? I can take any snapshot of the past - conservatives will always be the cry bully at any of the years in time you want to pick.
> Yes, this is my whole point. The American Rescue Act and subsequent policies that were very much propping up salient jobs (certainly not wfh tech jobs that are, definitionally, resistant to lockdowns) fueled inflation that led to the end of zero interest rate period which led to large layoffs in tech.
Those are of little consequence compared to FRS interest rate policy. Also, those people need a place to work. Sorry.
> Flint falsifies your point, it is a democratic bastion. If you'd expect that to radicalize people, it should be deep deep read.
Democratic or Republican doesn't matter. When you have no more money because of major regional economic changes, you can't do the basic functions of government. There's also demographic differences.
> Out of bounds is a social norm over time. Donald Trump, their far and away champion, gives such egregious conduct I can't read this with a straight face.
That's what rage does.
> But we can go further back. Was 'just say no' not egregious enough for you? AIDS shaming? The vicious anger against gay people? I can take any snapshot of the past - conservatives will always be the cry bully at any of the years in time you want to pick.
You're confusing "conservative" with people in the part of the country that we're talking about.
When people have cheap access to money, they spend it. When they spend it in such a manner that it outpaces the ability of the supply side to, well, supply, the result is inflation. And that's what we saw in '21 and '22. You had someone handing out PPP loans like candy and forgiving them outright, you had stimmy checks (that weren't backed by anything real, but that's another story), you had people sitting around looking for stuff to pass lockdown with, etc.
So at that point, by definition, we're lower than the "natural" interest rate. This showed that a lot of businesses in the tech industry couldn't survive without dirt-cheap money to give them ever-increasing amounts of runway. You can't just hyper scale like Uber when borrowers expect the rate of return dictated by the now-higher "natural" interest rate.
> No data backing this up.
Besides decades of economic, social, environmental, and political events and trends, you're right. Wanna have a bottle of water from Flint, MI? I can pull one out of the cellar. 2015, a fine year.
> OC talking about media calling them 'flyover country' as if it matters / is somehow out of bounds conduct at all.
1) that's not indicative of the stuff you were charging 2) yeah, it is out-of-bounds conduct. It's an a-hole move to belittle poorer regions in your country, whether explicitly or in more tacit ways. If you do it long enough, you get where we are now. Anyone happy about that?