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4min chapter
How Fiscal Hawks Are Using Inflation as an Excuse to Tamp Down Worker Power
The Intercept Briefing
Is Ten % on Employment Really a Good Thing?
I was just looking at some of the earnings calls from the big banks, and i believe it was bank of america they were talking about. They had undertaken a stress test, am, assuming a ten % unemployment rate. So anywhere within that range they seem to be very seriously considering. It's widely understood that there are two main drivers for it. One is the supply chain problems that we're experiencing in southeast asia and china. The other one is the sanctions that we have placed on russian oil. I hope that the public can be appropriately sceptical when they try to pass off this idea that somehow wages are driving the inflation.
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