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Easy ways to tackle inflation

  • 15-06-2022 12:03am
    Registered Users Posts: 1,611 ✭✭✭ Markus Antonius

    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...



  • Registered Users Posts: 11,080 ✭✭✭✭ TheValeyard

    Let's just eat the inflation.

    Nom nom nom nom

    Fcuk Putin. Glory to Ukraine!

  • Registered Users Posts: 1,611 ✭✭✭ Markus Antonius

    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?

  • Registered Users Posts: 9,302 ✭✭✭ Yurt2

    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).

  • Registered Users Posts: 1,611 ✭✭✭ Markus Antonius

    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.

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  • Registered Users Posts: 9,302 ✭✭✭ Yurt2

    You'd actually weep. 😂

  • Registered Users Posts: 1,611 ✭✭✭ Markus Antonius

    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...

  • Registered Users Posts: 9,302 ✭✭✭ Yurt2

    🤣 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.

  • Registered Users Posts: 14,075 ✭✭✭✭ y0ssar1an22

    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

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  • Registered Users Posts: 8,098 ✭✭✭ riclad

    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.

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

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

    deficit spend, and quickly!

  • Registered Users Posts: 13,971 ✭✭✭✭ Fr Tod Umptious

    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.

  • Registered Users Posts: 5,332 ✭✭✭ The J Stands for Jay

    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.

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

  • Registered Users Posts: 11,431 ✭✭✭✭ Ush1

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

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    ...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!

  • Registered Users Posts: 11,431 ✭✭✭✭ Ush1

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    ...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!

  • Registered Users Posts: 11,431 ✭✭✭✭ Ush1

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  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    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!

  • Registered Users Posts: 2,740 ✭✭✭ Sweet.Science

    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


  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

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

  • Registered Users Posts: 2,740 ✭✭✭ Sweet.Science

    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

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    ...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!

  • Registered Users Posts: 2,740 ✭✭✭ Sweet.Science

    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.

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    ..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!

  • Registered Users Posts: 2,740 ✭✭✭ Sweet.Science

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

  • Registered Users Posts: 27,000 ✭✭✭✭ Wanderer78

    ...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!

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  • Registered Users Posts: 2,740 ✭✭✭ Sweet.Science

    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