Gracias

I’ve heard the theory that Powell today is fomenting dissension to protect the institution. My source is Dario Perkins. He jokingly calls it a “BOE-ing” of the Fed.

I find it plausible.

It turns out that a rapid and steep rise in the level of prices as seen post Covid is scarring and angers people. And it has not slowed enough to satisfy people. Notably now we have a problem in core goods. Tariffs and dollar weakening (perhaps from institutional deterioration) exacerbate things.

What’s your point?

Go to plays. Read books.

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(But they are not doodling.)

Executive pay is overblown and the wealth and income taxes paid by those at the top do not suffice.

This makes no sense.

You’re cherry-picking. In fact, the absolute material level of consumption has gone up.
Here’s one for you: the real income of the bottom 5% is in the top 95% of anyone born ever.
Absolute material standards are not the problem. Inequality and social insecurity are the problems.

Houses are larger now and households are smaller. I would cite housing costs in square meters per household member.

Several countries use targeted payments to offset the regressivity of consumption taxes. Canada is a prime example. It pairs a value-added tax on most goods and services with quarterly payments to low- and moderate-income households based on family income, marital status and the number of children.