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> On Mar 29, 2020, at 3:20 PM, John Reimann via Marxism 
> <marxism@lists.csbs.utah.edu> wrote:
> 
> https://oaklandsocialist.com/2020/03/29/coronavirus-bailout-inflation-and-karl-marx/
>  
> <https://oaklandsocialist.com/2020/03/29/coronavirus-bailout-inflation-and-karl-marx/>

I would have thought that what determines whether rising wages will fuel 
inflation is whether production can keep up with demand for consumer goods, and 
I think that’s obviously in serious question at the moment. Roughly 15% of US 
food and about 35% of overall consumer goods are imported, so US supply of 
“everyday stuff” is still heavily dependent on domestic production. For US 
capitalism, I believe the question of the moment is how to meet that demand 
(even if at a lower level due to everyone scaling back their spending) at a 
time when public health imperatives prevent domestic production from returning 
to anything like pre-COVID levels any time soon.

Of course, another question of the moment is how to prevent a cascading debt 
crisis from taking down the financial system if government supports to the 
millions of people suddenly without an income aren’t sufficient to keep most 
people above water for the next year or two.
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