Comment on US Federal Reserve raises interest rates for the first time since 2023

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pmtriste@lemmy.world ⁨2⁩ ⁨days⁩ ago

I don’t want to cut spending, I want to reduce the monetary supply. It is extremely well documented and effective. And no they won’t cut spending, they’ll just go into more debt. Seriously, stop and think about it, the reason for inflation isn’t spending, it is monetary supply. That’s why when a government like Zimbabwe prints money like water, they have terrible inflation. We’re doing the same thing, and we CAN fix it by taxation. Taxation without imagining some stupid fantasy of “budget” that the Right (and “Left”) has been lying to us about. Taxation without government spending reduces inflation by lowering monetary supply, thus strengthening the buying power of the remaining currency. The government keeps huge discretionary budget spending which (along with obscenely low bank lending requirements) is what is driving up inflation. We need to cut stop wasting money on graft and war, and spend it only on the peopkebwho actually need it and in infrastructure investment.

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