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That means a family of four could see their monthly benefit cut by about $328 a month. The worst-hit could be elderly Americans who receive the minimum monthly benefit, Vollinger said. They could see their SNAP payments tumble from $281 to as little as $23 per month.
This could actually kill Biden’s 2024 run. People don’t vote for president based off policy, they vote based on the economy. If people see food and oil prices rise while benefits expire and Biden funnels endless money into Ukraine, they will reject him in 2024.
I don’t know how this will end to be honest.
:marx: “I do.”
That is a good assessment. The bandaid solutions of Keynseian economics don’t even work anymore because America doesn’t produce any goods. Obama and Bernanke’s quantitative easing essentially kicked this economic crisis into overdrive. Free money was the only thing keeping things afloat. Interests rate had to go up eventually and now we see how all economic solutions are just kicking the can down the road.
tfw I get to laugh at everybody else now also being broke losers but I get to dab on them, having the advantage due to years of experience being one :party-sicko:
The neo classical model is so obviously stupid and insane its genuinely baffling to me that it is the lingua franca in academia. Like it doesnt even try to hide any of its contradictions, its just very obviously shit
IMO if you separate the obvious social/cultural issues of the 20th century(racism, conservatism etc) and just look at the core structure, our capitalist world is not really any different than Marx’s era 200 years ago. Some of those issues only changed due to technological development e.g worldwide slavery was a contradiction to industrialization.
The point is your realization is sadly old news, even back then he already saw academia as dishonest and serving no purpose other than as capitalist apologetics. I think there is a quote somewhere but I don’t remember.
Personaly when I started reading a lot more about marxist economics a few years ago(thanks M.Roberts blog) I had the same realization.
It is all emperors new clothes. All apologetics. May as well be arguing with Catholic fundamentalists. Then the sad realization nothing, literaly nothing changed over the whole 20th century. Idiots actual taking Austrian shit seriously, Keynes nonsense etc… Meanwhile crisis after crisis without explanation or answers, just promises, forecasts and those too obviously wrong most if not all the time.
I really thank M.Roberts for making this point so often in his blog, the most distinct “feature” that gives away that economics is not a science is how they don’t ever try to explain anything and when they do and fail, they refuse to re-evaluate and change their theories. You end up always asking the same questions and they always give the same wrong answers… its almost as if the whole point was to propagate ideology rather than to investigate and explain anything about our world.
This could actually kill Biden’s 2024 run.
Bro, who gives a shit. Bush, Clinton, Bush, Obama, Trump, Biden - they make it seem like a big deal but not a single thing ever actually changes.
Every single one of these motherfuckers continues their predecessor’s policies, works towards the exact same goals, has identical priorities, etc right on down the line.
Same shit, different PR team.
I’ve probably repeated this on the site many times: but basically, the Fed wants to curb inflation, but according to the neoclassical model, inflation can only come from people having too much money, so they raised interest rates trying to bring about a recession. Insane, yes, that’s what they teach in universities.
ok so if i understand this reasoning, the reason why they want to raise the interest is so that there are less money in circulation hence bringing down inflation. This makes me think, the economy depends of the circulation flows of cash (selling and buying). Isn’t raising interest basically bars the flow of cash and makes the industry cash and the consumers not buy anything?
Don’t try to understand it, even though mainstream economics believes this shit there is actualy no real statistical proof that monetary policy(interest rates) actualy affect inflation in anyway.
In the decade prior to this central banks were struggling to raise inflation to their “target” of 2%. Now they are struggling to keep it down. The reality is they are all clueless idiots and economics is a bunch court clowns trying to rationalize how and why the king is a literal inbred idiot.
But yes, if you get down to it their “reasoning” is a very convenient rhetoric that the economy(read:working class) got too much money therefore interest rates reduces credit which slows down money growth when compared to real production.
Note how they ignore inflation caused by money lending to capitalists and corporations, funny how for certain people there is never a talk of “too much money” or “too hot”.
Sorry Im hard of hearing. Did you say he lost back in 2024 because he wasnt transphobic enough? :biden-the-thing:
Ahh please don’t tell me Biden is joining the “I’m the most transpohbic” race.
