> > Isn't much of the financing nowadays done by non-banking firms? >
The point made by Michael and Jim about the opposed interests of lenders and borrowers remains. Each non-banking firm is a net lender or borrower. > > And isn't the boundary between 'lenders' and 'borrowers' rather less well > demarcated nowadays than in the 1980s pre the petrodollar huge influx of > 'hot money'? > How would petrodollars smudge the boundary? Inflation hurts the working class because prices go up without recourse, while raising our wages requires struggle, and it is not guaranteed to win. (Today's inflation has not been wage-push inflation. It is largely a result of supply chain bottlenecks, raw material issues in a world of sharpening contradictions between capitalist powers including China, and insurance premium rises from climate disasters.) In addition, retired workers who depend on Social Security do not get full indexing of the benefit. Some relevant notes on the attached chart of a post-election poll: People give first place to immigration. At least in part, many see it as an economic problem and deportation as an economic remedy. The second place went to income inequality, the only other issue that might have major systemic impact. Jobs and taxes are minor adjustments by comparison, no solution for a rotten economy. It seems that inflation was not on the list offered in the poll, or else it got a small response. Other soundings of mass sentiment do show concern and anger about it. After all, no matter how much inflation has declined recently, food, rent and other necessities are 20 percent more expensive than before inflation took off at the beginning of the pandemic. -=-=-=-=-=-=-=-=-=-=-=- Groups.io Links: You receive all messages sent to this group. View/Reply Online (#33551): https://groups.io/g/marxmail/message/33551 Mute This Topic: https://groups.io/mt/109543856/21656 -=-=- POSTING RULES & NOTES #1 YOU MUST clip all extraneous text when replying to a message. #2 This mail-list, like most, is publicly & permanently archived. #3 Subscribe and post under an alias if #2 is a concern. #4 Do not exceed five posts a day. -=-=- Group Owner: [email protected] Unsubscribe: https://groups.io/g/marxmail/leave/13617172/21656/1316126222/xyzzy [[email protected]] -=-=-=-=-=-=-=-=-=-=-=-
