STT Week end 24th Feb 2023, page-17

What feeds the inflation spiral is when business raises prices in expectation they will need to raise prices ... so they do so preemptively and people working for a fixed income start demanding pay increases for the same reason.

There is something deeply suspect about our so-called economic model which calls for higher unemployment as the remedy for inflation. It amounts to inflicting suffering on a subset of people. No different in spirit to going out in the paddock to find a few goats to sacrifice to the gods.

When we had full employment we did not have inflation (for years and years on end)... so how come full employment is now the problem?

When the Fed instituted QE it was the financially vulnerable who paid the price.... now when they see their policy has created havoc once again it is the financially vulnerable who are made to pay the price.

Creating financial conditions to throw people out of their livelihoods as the way to address a financial imbalance looks to me to qualify as a "cruel and unusual punishment".