Former Treasury Secretary Lawrence Summers said the US jobless rate would need to rise above 5% for a sustained period in order to curb inflation that’s running at the hottest pace in four decades.
The inflation is largely an artifact of unbridled money printing and wage stagnation. It looks like they want to lower prices by paying people even less. This will only inflame the contradictions further and eventually lead to civil unrest.
This is the part I understand unfortunately. How does it eventually lead to inflation though?
The inflation is largely an artifact of unbridled money printing and wage stagnation. It looks like they want to lower prices by paying people even less. This will only inflame the contradictions further and eventually lead to civil unrest.