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arthur_affect's profile
Arthur Chu
Arthur Chu
Arthur Chu
Verified account
@arthur_affect

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Arthur ChuVerified account

@arthur_affect

Mad genius, comedian, actor, and freelance voiceover artist broadcasting from the distant shores of Lake Erie (he/him)

Broadview Heights, Ohio
arthur-chu.com
Joined August 2009

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    1. amanasleep‏ @ticketdust 18 Apr 2020
      Replying to @mssilverstein @arthur_affect and

      Mostly there are very few proper explanations of how and why hyperinflation occurs and even bleeding edge heterodox macroeconomists struggle to define ordinary inflation. So it’s a stand in for secular apocalyptic fantasies of sudden societal collapse.

      1 reply 0 retweets 2 likes
    2. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
      Replying to @ticketdust @arthur_affect and

      Yeah - what we do know is that it only occurs in extremely rare, awful situations, rather than an instance of an ordinary or even extreme recession combined with a government printing money.

      1 reply 0 retweets 3 likes
    3. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
      Replying to @mssilverstein @ticketdust and

      You might be concerned about policies that lead to high inflation - 10%/year or something - but hyperinflation that ain't.

      2 replies 0 retweets 3 likes
    4. This Tweet is unavailable.
    5. amanasleep‏ @ticketdust 18 Apr 2020
      Replying to @ArkerHassan @mssilverstein and

      This is exactly the kind of misconception that is so difficult to deal with. Inflation only occurs at the price setting step. So long as resources are available the prices don’t get bid up. New money that sits unspent in accounts or bids up financial asset prices don’t inflate.

      1 reply 1 retweet 7 likes
    6. Arthur Chu‏Verified account @arthur_affect 18 Apr 2020
      Replying to @ticketdust @ArkerHassan and

      We can *see* this because we've been doing quantitative easing for *years* and WE HAVEN'T HAD INFLATION Interest rates are actually dipping into the negative and yet where's all the money flying through the economy and into people's wallets

      1 reply 2 retweets 13 likes
    7. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
      Replying to @arthur_affect @ticketdust and

      Yeah - inflation is actually too LOW. It makes borrowing and lending harder because people are more willing to hold cash and more anxious about going into debt.

      1 reply 0 retweets 7 likes
    8. amanasleep‏ @ticketdust 18 Apr 2020
      Replying to @mssilverstein @arthur_affect and

      Mostly macro inflation is a stupid concept anyway, as the current crisis shows. What’s important is how many ventilators, masks, gowns, doctors, nurses, delivery drivers, entertainers, research labs, food, lives. We can quibble on the prices after we assess the supply capacity.

      1 reply 0 retweets 3 likes
    9. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
      Replying to @ticketdust @arthur_affect and

      Yeah - I think the stickiness in various parts of the economy, particularly wages, makes it relevant, but as an abstraction, it's not a big deal.

      1 reply 0 retweets 3 likes
    10. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
      Replying to @mssilverstein @ticketdust and

      The worst of inflation that Americans actually remember and care about - the 1970s - was not caused by any monetary policy at all, but a rapid rise in oil prices which caused production costs of everything to go up - without raising wages.

      1 reply 1 retweet 10 likes
      Arthur Chu‏Verified account @arthur_affect 18 Apr 2020
      Replying to @mssilverstein @ticketdust and

      Right, and the right wing got away with a nasty trick by labeling this "inflation" and saying the government was to blame for rising prices by "printing money" when an oil supply is the textbook example of things objectively being more expensive

      8:22 AM - 18 Apr 2020
      • 1 Retweet
      • 6 Likes
      • Hoydenne zzz Cyn Horrible Checkers Lad Appreciator First Ray of Spring Baal Ska Tov Arthur Chu
      2 replies 1 retweet 6 likes
        1. New conversation
        2. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
          Replying to @arthur_affect @ticketdust and

          There are a lot of complex, conflicting economic factors in a pandemic that swamp monetary policy on this, too. Mass layoffs mean there's less consumer spending, and a lot of inventories are backing up, which would be deflationary.

          1 reply 0 retweets 2 likes
        3. Baal Ska Tov‏ @mssilverstein 18 Apr 2020
          Replying to @mssilverstein @arthur_affect and

          But at points where supply chains break down, you'd see shortages, driving prices up. Short-term, though, there's a lot of pressure against price-gouging.

          1 reply 0 retweets 2 likes
        4. Show replies
        1. amanasleep‏ @ticketdust 18 Apr 2020
          Replying to @arthur_affect @mssilverstein and

          The trick was causing a massive recession by raising interest rates, then claiming the recovery was because of the intervention when the oil crisis had passed. Justified all the anti-labor policies of the next three decades.

          0 replies 0 retweets 1 like
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