You are doing economics 101 thinking, that’s right. Reality: Consumer spending dropped significantly even with consumer spending boosts. There’s a COIN SHORTAGE because consumers are saving what they can. Why would the pockets of the poor, have spent it? On what? You can’t get much for $10,000. There’s a glut in the market of cheap electronics like TVs and such. There’s plenty of room for increases prices of those goods, which won’t happen for a while because of years of overproduction., [why are TV sets so cheap for years now? Why are cars so cheap for years now?] People have bills to pay, particularly the poor. Utility companies having fewer collections and more normal customers who can actually pay on time would raise inflation how? If rental and mortgage payments are on time for a few months in areas where they are chronically late and people are turned out due to economic downturns normally, how does that cause inflation? If it’s spent on steaks every day for weeks, will we run out of cows? We did run out of toilet paper. I think there is an analysis of the impact that had on the economy.

You are doing economics 101 thinking, that’s right.
Reality: Consumer spending dropped significantly even with consumer spending boosts.
There’s a COIN SHORTAGE because consumers are saving what they can.
Why would the pockets of the poor, have spent it? On what?
You can’t get much for $10,000. There’s a glut in the market of cheap electronics like TVs and such. There’s plenty of room for increases prices of those goods, which won’t happen for a while because of years of overproduction., [why are TV sets so cheap for years now? Why are cars so cheap for years now?]
People have bills to pay, particularly the poor. Utility companies having fewer collections and more normal customers who can actually pay on time would raise inflation how?
If rental and mortgage payments are on time for a few months in areas where they are chronically late and people are turned out due to economic downturns normally, how does that cause inflation?
If it’s spent on steaks every day for weeks, will we run out of cows?
We did run out of toilet paper. I think there is an analysis of the impact that had on the economy.
  • —-
    The setting of interest rates is a human choice. “interest rates will go up” is a threat, not an automatic consequence.
    • Like
      I’m not espousing “Modern Monetary Theory” here either.
       
      But damn, man there’s a COIN SHORTAGE from people hoarding coins. This is abnormal time right now.
       
      Parroting the same stuff everybody learns at 18 years of age of basic economy theory – the same courses that “some rapper” took when HE went to school for architecture – same courses that you took and I took – with all of its privileged built-in elitist textbook assumptions of what “the poor would do if given a chance” during a time where people are hoarding toilet paper and coins, is blind.

     

His name is Ice Cube. Net worth $160 million. He’s 50 years old. He worked hard for his money in the 1980s, hustling various angles including university, did careful networking with influential people, did saving and investing, working hard.
 
He’s currently heavily investing in black business ventures to help increase their impact on the US economy and expects a continuing increase of the working poor towards the middle class in the black American community.
 
Rising waters raise all boats and financial successes in the black community in America helps the entire country and he is a classic American success story.
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His name is Ice Cube. Net worth $160 million. He’s 50 years old. He worked hard for his money in the 1980s, hustling various angles including university, did careful networking with influential people, did saving and investing, working hard.
 
He’s currently heavily investing in black business ventures to help increase their impact on the US economy and expects a continuing increase of the working poor towards the middle class in the black American community.
 
Rising waters raise all boats and financial successes in the black community in America helps the entire country and he is a classic American success story.
 
I don’t agree with all the things he says but that’s political hip-hop for ya and yeah, I always admired him. He’s my age and done extraordinarily well.
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I understand your way of thinking, although I find textbooks copy each other more often than introduce anything novel.
I bristled at “some rapper” because Ice Cube in particular is a good example of an American businessman that knows how to hustle.
The hustle is a very active process of entrepreneurship, what we might call “multiple streams of income”, networking, gig economy and while white american business sales and networking certainly have had a place in American entrepreneurship culture, minorities creating success with less support from the dominant culture are what I think of as good examples of “the American Dream”.
For entrepreneurs, money is a verb, action oriented. It has to flow, not go to offshore accounts to sit. So it’s a much different attitude towards money.

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