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SoTiredIYuan t1_j6jnhwl wrote

Reply to comment by Heres_your_sign in How Big Tech is using mass layoffs to bring workers to heel by diacewrb

The whole objective here is to create a recession. That is how this administration is going to tackle inflation. It's about the only card left to play. You need desperate workers with little cash to drive wages down and thus costs and thus cost of goods.

It would not surprise me if the powers that be in government have gotten in cahoots with the powers that be in industry and said, "Hey, now would be a good time to start trimming some fat from your payrolls."

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icebeat t1_j6kwnxv wrote

It is not the government but the feds and yes the literally said that they want to increase the unemployment rate to fight inflation

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SoTiredIYuan t1_j6l67vs wrote

Which is really goddamn shitty.

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DrabDonut t1_j6lq0u2 wrote

Some level of unemployment is the only way capitalism works.

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tickleMyBigPoop t1_j6lq5t5 wrote

Well it’s either that or cut government spending by massive amounts.

Inb4 raise taxes…look at tax revenues as a percentage of gdp over the last 80 years

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I_ONLY_PLAY_4C_LOAM t1_j6m31qb wrote

This is pure conspiracy theory bullshit. Yes, the fed's mandate is to control inflation. They do that by raising rates. Rates were probably unhealthily low if anything. That might cause a recession, but that's not the goal.

Layoffs are happening because dumb fucks on wall street and the VCs in the valley are predicting a recession that may or may not actually happen. They therefore want to see blood in the water to know these companies are serious about treating their feelings seriously, despite companies like Google being ridiculously profitable. These companies should just start paying dividends and put an end to this infinite growth, short term quarterly thinking bullshit that has them laying off thousands of workers despite historically good numbers.

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cj022688 t1_j6m8hb8 wrote

The expected “infinite growth” model has always given me a good chuckle. I worked for a few people who I considered to be pretty damn intelligent. This was almost a creed for them. So fuckin stupid

I don’t think greed is going anywhere anytime soon unfortunately

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SoTiredIYuan t1_j6mxscy wrote

The fed's mandate is to control inflation. If they don't get it sorted by election time, it's going to bite them in the ass. They are going to use every trick in the book to try and sort it out.

Raising rates is one that they have direct control over. And the Federal Reserve says that raising rates may lead to unemployment.

>The president of the Federal Reserve Bank of Boston said earlier Monday
that the Federal Reserve will have to keep increasing the interest rate
to get inflation down but that would also mean a rise in unemployment.
And as the Federal Reserve does plan to continue the interest rate
hikes, experts project that the national unemployment rate will rise
from 3.7 percent currently, to a median of 4.4 percent next year.

Directly or indirectly, the government is going to remove money supply from the economy by taking away jobs and making people accept low pay again out of desperation.

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Skreat t1_j6m3a2c wrote

With the current stats in the market there’s never been a recession though.

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TUGrad t1_j6kg7gy wrote

Agree, it's not as if this hasn't likely happened before.

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banananailgun t1_j6k2erb wrote

>It would not surprise me if the powers that be in government have gotten in cahoots with the powers that be in industry

This is just now occurring to you?

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