Usually I am sympathetic towards people losing their jobs. However, that goes out the window when their government is hostile and I am watching family struggle due to the trade war.

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[–] Juice@midwest.social 26 points 6 days ago (1 children)

Shedding jobs is literally what our administration has set out to do. Its what the Fed has been aiming for. They recently voted to hold interest rates, with some members voting to raise them. Idk who these "analysts" are, but they're fucking morons. Even if interest rates were cut, it would take like 6 months to a year to see wages and employment bounce back.

I'm def not saying it is good to be losing jobs, but it is intentional.

[–] sobchak@programming.dev 2 points 5 days ago (1 children)

I don't know if lowering rates would help anything at this time. I think it'd mostly just go into the AI bubble who's goal is to reduce jobs.

[–] Juice@midwest.social 1 points 4 days ago

Well, right. The goal is to increase unemployment to lower wages. There are multiple things going on to keep that pressure on, and lowering interest rates .25 or .5% or whatever would be meaningless. Shifting them back to zero might goose borrowing and ease the labor market but also like nobody wants to do that right now. It's fine and natural to act like even market forces are totally neutral, but if you have half a notion you realize that attitudes toward hiring and firing are shaped just as much in the private country club as they are in the market.

I like the example of interest rates because its bound up with inflation and employment in a way that is very recent and easily demonstrable. There's tons of examples of business and finance sickos calling to raise interest rates to drive down wages, while simultaneously raising prices that are directly transferred in the largest part into profits and bonuses, while calling it "inflation." People lived through it, we know it, we understand it, its provable that increasing unemployment to drive down wages to increase profitability is an intentional activity by the political and economic classes.

But I agree, it isn't just interest rates.