:amerikkka: :death
- Interest rates go way down
- House prices go way up until a mortgage payment is the same as it was with higher interest rates
- Banks lend tremendous money and take houses as collateral
- Interest rates go way up
- Mortgage payments have to be much higher unless house prices go down
- Wages go down?
- Nobody can buy houses?
- Banks foreclose en masse?
- Banks have houses on their books that they can’t sell at anywhere near the price they lent money for?
- Everything is insolvent?
- Oh yeah it’s bailout time 🤪
13 points
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When’s the last time anyone in the working class received a real terms wage increase?
They blame inflation on rising wages when literally nobody has had a wage increase above inflation since 2008. The inflation is not caused wage increases it’s caused by profit taking. Reduce their profits and raise worker wages. Don’t allow them to run this narrative that the worker’s wages are to blame and that the workers should take the brunt of the solution, wages absolutely are not responsible.
not only that, it is also responsible for creating (or exacerbating) economic crises in countries like Sri Lanka, Pakistan etc
18 points
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Deleted by creator
1 point
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33 points
Austerity is violence.
