US inflation jumps to 31-year high amid global supply chain crisis • Hacker News Board

Re: US inflation jumps to 31-year high amid global supply chain crisis

#301

Post by tdfx » Fri, Nov 12, 2021, 4:51 PM UTC

alphabettsy wrote: post #273

tdfx wrote: post #232

Earlier quoted context omitted.

Can you elaborate on how you feel climate change has recently affected this issue? It seems more likely to me that the recent pandemic is the major issue. > This long-term famine is already happening in Central America and is driving more and more migrants north every year. This is certainly a problem but not nearly a major reason that migrants are coming north. They're coming north because they can make their monthl…

> evidenced by the fact that almost none of them are accepting offers of asylum in Mexico and choosing to continue to the US How is this evidence? If Mexico isn’t my home either and I already have to start my life over why wouldn’t I keep going to a place with even more opportunity?

I don't blame anyone for pursuing their self interest. I would do the same thing if I was them. But it's dishonest to say their primary motivation isn't economic. If they're fleeing something in their home country, they've successfully escaped it by getting to Mexico. Continuing to the US is an economic decision.

Re: US inflation jumps to 31-year high amid global supply chain crisis

#302

Post by ignasheahy » Sun, Nov 14, 2021, 11:01 PM UTC

littlestymaar wrote: post #296

ignasheahy wrote: post #282

Earlier quoted context omitted.

What I mean by "break" is runaway inflation or hyperinflation. That doesn't mean the whole system collapses. The rising debt or money supply is not a problem - the problem is its second derivative - how fast rising increases and how connected it is with underlying economy. And this points to a kinda dire future at the moment.

Hyperinflation (or even “a little bit to high” inflation) would literally destroy billions of financial assets (public and private debt), given the enormous political power of the finance industry, it's not going to happen. Also, there is exactly zero historical instance of hyperinflation caused by public debt labelled in a country's own currency. Zero. There's little rational reasons to believe public debt will caus…

All of the instances of inflation is linked to government debt, what are you talking about? Even kings were cutting weight of silver coins in middle ages.

Re: US inflation jumps to 31-year high amid global supply chain crisis

#303

Post by MeinBlutIstBlau » Tue, Nov 16, 2021, 1:49 AM UTC

edmundsauto wrote: post #207

WarOnPrivacy wrote: post #177

Earlier quoted context omitted.

Parent is exampling how IRL challenges look. It's fairly miserable to endlessly hear how a problem is 1x big when it's actually 4x big for most folks in your region.

OTOH, the personal experience of individuals will be amplified in their mind due to cognitive distortions. Our brains remember the prices that have gone up, put less emphasis on the prices that haven't. People reporting their experience will have significant distortion due to how our minds work.

It makes a difference cause you buy food more than you buy say...Cars or Processors.

Re: US inflation jumps to 31-year high amid global supply chain crisis

#304

Post by littlestymaar » Tue, Nov 16, 2021, 9:12 PM UTC

ignasheahy wrote: post #302

littlestymaar wrote: post #296

Earlier quoted context omitted.

Hyperinflation (or even “a little bit to high” inflation) would literally destroy billions of financial assets (public and private debt), given the enormous political power of the finance industry, it's not going to happen. Also, there is exactly zero historical instance of hyperinflation caused by public debt labelled in a country's own currency. Zero. There's little rational reasons to believe public debt will caus…

All of the instances of inflation is linked to government debt, what are you talking about? Even kings were cutting weight of silver coins in middle ages.

TIL there were hyperinflation episodes in Europe during the middle age (not). You have never read a book of economic history (or even just history) right?

For the record: most of inflation comes from rising costs in the supply chain (from supply issues, resources scarcity and/or wage raises). This is where we are now.

There exists instances of hyperinflation related to debt (Weimar republic's for instance) but this was due to debt labelled in a foreign currency (basically gold in this case).