Easy ways to tackle inflation

Markus Antonius · 14-06-2022 11:03pm #1

You know the whole system is rigged when governments don't do very simple things to ease huge problems such as inflation

Solution 1: Instead of giving people €200+ a week - give them €100 a week (or less) and 100 worth of what they call foodstamps in the US or some kind of specialised voucher that can be used for essentials - food, rent etc. (no alcohol, no drugs, no two week holiday to Lanzarote)

Solution 2: Stop importing endless numbers of non-working economic migrants (who often pose as refugees) - not only are they sponging the system, they are making it impossible for us to care for actual refugees (and no this is not racist)

Solution 3: Stop politicians dipping their hands into the exchequer to pay off the electorate in order to keep their seats (2.7 billion in Mica redress (but really to save Charlie McConalogue and Joe McHugh's seats along with more in Mayo, Clare and Limerick to come). Also stop settling without admission of liability for undisclosed sums - hundreds of settlements a year of often 7 figure sums!

But I guess this would upset our EU overlords...

kirk. · 14-06-2022 11:09pm

There's so many flaws in that rant

Your numbers will have zero impact on inflation

TheValeyard · 14-06-2022 11:22pm

Let's just eat the inflation.

Nom nom nom nom

Markus Antonius · 14-06-2022 11:23pm

https://www.boards.ie/discussion/comment/119204446#Comment_119204446

It stops the government from flooding the country with cash, in the same way increasing rates aims to remove cash from an economy. The latter causes hardship for legitimate workers and businesses whereas the former does not.

Why wouldn't it work?

Yurt2 · 14-06-2022 11:33pm

https://www.boards.ie/discussion/comment/119204473#Comment_119204473

Your "food voucher" on presentation to a merchant must be redeemable by the merchant for actual currency unless you want Mr. Tesco telling everyone f*ck off. So you haven't taken a single cent of "cash" out of the economy. And I'm not sure why you would want to do so in the first place unless you're trying to generate a recession. Administration of such a scheme would also eat up government resources for no particular reason, so you're shooting yourself in the d*ck on that front if what you're trying to do is save money somewhere.

As an aside, this suggestion sounds more like it's about hand-wringing about unemployed people spending their welfare "wrong" than it's about inflation. Because it would have zero effect on inflation (as well as creating secondary markets of people horse trading Paschal's Convertible Peso for other goods and services).

Markus Antonius · 14-06-2022 11:47pm

https://www.boards.ie/discussion/comment/119204496#Comment_119204496

Wrong. The merchant only gets the cash for the amount of the voucher that is spent in the store.

-If I give someone 200 in welfare and they spend 50 in tesco - they are still left with 150 therefore 200 is in circulation.

-If I give 100 and a 100 foodstamp (still the same amount) - they spend 50 in tesco - but now there is only 150 in circulation

Paschal's Convertilble Peso is non tradeable - it's locked to your social services card.

Yurt2 · 15-06-2022 12:03am

https://www.boards.ie/discussion/comment/119204517#Comment_119204517

🤣 What do you think Tesco or the corner shop are going to do with your fake currency? Are they handing out goods for free or do they have the right to redeem from the government it for... *drum roll*...actual money, which the government must issue to them.

You haven't thought this through

Do you think money only exists and circulates within the economy literally in hard cash?

Yurt2 · 15-06-2022 12:06am

You'd actually weep. 😂

Markus Antonius · 15-06-2022 12:08am

https://www.boards.ie/discussion/comment/119204536#Comment_119204536

The merchant is reimbursed for the amount of the foodstamp that is spent in the store. I could not make this any clearer.

Are you afraid there will be a black market in bananas or something? What could happen that would be worse than literally handing people 200 in cash?? This isn't a novel idea - they do it in some US states right now...

Yurt2 · 15-06-2022 12:13am

https://www.boards.ie/discussion/comment/119204544#Comment_119204544

🤣 And how has that tackled inflation given that the money still is circulating in the economy?

You've just created a pork barrell administrative process for the government, corner stores and merchants for zero reason. Euros get converted into Paschal Pesos, and converted back into euro again...because...inflation? Congratulations, you have succesfully not tackled inflation.

Go to bed Markus.

y0ssar1an22 · 15-06-2022 12:41am

i dont think this will tackle inflation, but stop making public office a career choice. to my mind, you do that to affect a change.

how to tackle inflation? has anyone yet said why there is inflation?

gotta know the problem before it can be addressed

riclad · 15-06-2022 2:33am

We are a small country, inflation depends on oil, energy costs, supply of goods. Cost of moving containers , this government can do little to reduce inflation , except encourage solar, green energy, reduce imports of oil gas. We depend on imported goods mostly. Its hard to make anything without using energy or oil gas. So of course most goods are increasing in price. The old solution just raising interest rates does not work in a world of 100 dollar oil prices. Expensive gas prices The UK economy is going into recession due to brexit

Any EU citizen has a right to come here to work our economy trade depends on being part of the EU no one is being imported here.

Wanderer78 · 15-06-2022 5:49am

https://www.boards.ie/discussion/2058250267/easy-ways-to-tackle-inflation

shur we might as well implement a far right government, that would definitely solve our problems!

deficit spend, and quickly!

Fr Tod Umptious · 15-06-2022 7:03am

https://www.boards.ie/discussion/comment/119204571#Comment_119204571

stop making public office a career choice

Do you really think public office is a career choice?

Do you really think that many people stuck in traffic or bored with their jobs decide that they would prefer one where they have to reapply for their job every 5 years or less and have to be on call 24*7 365 days a year?

And if you don't follow up on those calls, or meet those people or get stuff done, or be seen to get stuff done, then that job reapplication in 5 years time or less will fail.

The J Stands for Jay · 15-06-2022 7:29am

So, as it stands Davey O'Dole gets €200 in cash. He spends 50 on Tesco on food and essentials. He was 150 left, which he spends in the pub. Something, something, inflation.

Scenario 2. He gets 200 dole dollars. Spends 50 on essentials in Tesco, and the rest on Tesco booze. There is absolutely no difference to inflation, but more of the profits from the transactions go to Tesco's UK headquarters instead of going onto the local economy via the pub.

Wanderer78 · 15-06-2022 7:31am

https://www.boards.ie/discussion/comment/119204859#Comment_119204859

...yes, the wealth 'trickles down'!

Ush1 · 15-06-2022 7:35am

Raise interest rates and print less money. It's a tried and tested inflation buster.

Wanderer78 · 15-06-2022 8:53am

https://www.boards.ie/discussion/comment/119204881#Comment_119204881

...once again, only that the money supply hasnt caused this inflation, inflation is generally caused by an accumulation of economic issues, currently is largely due to supply and energy shocks, reducing the money supply will exasperate this!

Ush1 · 15-06-2022 9:01am

https://www.boards.ie/discussion/comment/119205221#Comment_119205221

Tell that to Venezuela, Argentina or Turkey.

Wanderer78 · 15-06-2022 9:08am

https://www.boards.ie/discussion/comment/119205262#Comment_119205262

...oh ffs, this horse sh1t as always, yes, such states have indeed experienced such issues, but partly due to deficit spending, we on the other hand are a part of a monetary union, of which is one of the largest economic unions on the planet. the likelihood of experiencing hyper inflation due to deficit spending is virtually non existing, as the want and need for euros globally is strong, but this must be agreed at eu level, and fast, any loan wolf approaches to deficit spending would more than likely end in disaster for those individual states that do so, major eu institutions such as the ecb and the eib could resolve this quickly, by creating bonds for particular needs only!

Ush1 · 15-06-2022 9:10am

https://www.boards.ie/discussion/comment/119205292#Comment_119205292

The ECB are doing exactly as I suggested.

Wanderer78 · 15-06-2022 9:18am

https://www.boards.ie/discussion/comment/119205303#Comment_119205303

im aware of this, but its not happening quickly or simply enough, we have got to get money directly into peoples hands, businesses are simply gonna go bust if we dont, and we really dont need that right now, covid supports shouldnt have been removed, it was clearly obvious what was unfolding before there withdrawal!

Sweet.Science · 15-06-2022 9:31am

It will be interesting to see how we achieve the following with the impending massive recession

Increase public spending

Tax cuts for our squeezed middle

increase in pension and job seekers benefit

Increase repayments before interest rates keep increasing

etc

Wanderer78 · 15-06-2022 9:33am

https://www.boards.ie/discussion/comment/119205412#Comment_119205412

...yes, if we dont accept a rapid rise in public spending, all this will fail, eu, get your heads out of your holes please!

Sweet.Science · 15-06-2022 9:38am

https://www.boards.ie/discussion/comment/119205429#Comment_119205429

What do you suggest we spend it on ? Do you not think its a huge risk with the uncertainty re the rates. We could be in for a lifetime of pain instead of 5-10yrs

Wanderer78 · 15-06-2022 9:45am

https://www.boards.ie/discussion/comment/119205450#Comment_119205450

...the risks of not doing it are far greater, yes there are risks involved but id rather accept these risks, than have an enormous amount of businesses go bust, if that happens, we re truly fcuked! yes we truly could be in for it over the next few years, but starve the economy of money, and you can be damn sure we will be!

one of the main causes of inflation is our exposure to global fossil fuel markets, solution, get the fcuk away from them as much as we possible can, and as fast as possible, off shore wind is our solution! so crack on with it already! we clearly need to build properties, and fast, solution, build the fcuking properties already! our health system is clearly fcuked, start investing in it, and quickly! endless amounts of work to be done, jobs to be created, yet we want to try starve our economy of money! wtf!

Sweet.Science · 15-06-2022 9:54am

https://www.boards.ie/discussion/comment/119205481#Comment_119205481

Who will build them ? Our building companies are already booked up as things are for a number of years when it comes to large scale projects.

Wanderer78 · 15-06-2022 9:58am

https://www.boards.ie/discussion/comment/119205525#Comment_119205525

..oh i dont know, maybe invest in the creation of new companies, maybe, wild idea i know, but..... maybe encourage foreign companies in.... maybe properly invest in encouraging young folks into the trades...i know i know, wild ideas!

not rocket science folks, its been done, all over the planet, for eons!

Sweet.Science · 15-06-2022 10:16am

https://www.boards.ie/discussion/comment/119205546#Comment_119205546

Create new companies. What workforce. Foreign tradesmen have left in spades due to the cost of living and the cost of rent. Whoops.

Wanderer78 · 15-06-2022 10:27am

https://www.boards.ie/discussion/comment/119205623#Comment_119205623

...oh i dont know, maybe we could pull on those that are currently coming to the end of their educational experience, leaving certs and college graduates etc etc, maybe, i know i know, wild ideas! maybe we could use elements of deficit spending to financially facilitate all of this, maybe, maybe!

Sweet.Science · 15-06-2022 10:32am

https://www.boards.ie/discussion/comment/119205665#Comment_119205665

You can't make people interested in a trade. A bricklayer is in no way appealing and rightly so. Hugely difficult job in bad conditions for half the year. I dont blame our kids.

Even if we somehow got more companies and workers. More fighting over scare raw materials. Property inflation

Wanderer78 · 15-06-2022 10:35am

https://www.boards.ie/discussion/comment/119205692#Comment_119205692

...but yet we still desperately need properties to be built, how are we gonna resolve this one? im not blaming younger generations at all, us adults are just being fcuking idiots, we re nicely screwing over these kids with this idiocy!

rob316 · 15-06-2022 11:10am

A first year doing business studies in school would come up with better economic advice. What would any of that do to temper inflation?

Wanderer78 · 15-06-2022 11:13am

https://www.boards.ie/discussion/comment/119205879#Comment_119205879

...so reducing the money supply, will resolve our current issues by.......

be very wary of what economics is thought in academia, is primarily neoclassical, which ultimately brought us classics such as the 08 crash!

rob316 · 15-06-2022 11:42am

https://www.boards.ie/discussion/comment/119205898#Comment_119205898

All the solutions are reducing government expenditure, I have no idea how that helps inflation. How does that help the price of fuel, food, housing, anything?