“INFLATION PANIC!” is corporate pushback against rising worker power
The inflation freakout is all about class conflict. In fact, it may be the fundamental class conflict: that between creditors and debtors, a fight that’s been going on since the foundation of the United States.
That’s because inflation is often good for most of us, but it’s terrible for the kinds of people who own corporate news outlets….
The current inflation is a good thing. It is the market’s response to long pent-up wage increases. Conservatives should be thrilled to see the free market in action. Corporations should be careful about flogging the inflation panic, because the Fed will respond by raising interest rates.
Notice the “inflation panic” stories started ramping up as soon as the corporate payouts in BIF were passed, but before the social spending in BBB is voted on. The message is payouts to corporations are fine, but social spending causes inflation.
Excellent point.