Core inflation is 6.5% yoy which is very high. The other figures are month to month and are noisy and have a seasonal component.
I would say it is due to loose monetary and fiscal policies (duh).
Maybe we are in for a 70es rerun; and the 70es inflation spiral didn't really end until Paul Volker, Thatcher, and Reagan changed the economic policies.
Also stopping the inflation spiral helped bankrupt the Soviets who were a great benifitter of the rising commodity prices ... just a hint.
If you don't think this has any affect on inflation Ive got a bridge to sell you.
Can you explain what you mean by that? I think many of us would argue that we’re more efficient now in WfH situations.
My workplace is post-remote now. We're back to fulltime in the office. I'm super happy for all the random interaction, problem solving together and coffee breaks. The social interaction enables us to work better in the team.
The best policy was not the topic of the comment but it's probably to let those who want and like remote work to do it.
Ah yes, the pervasive disruptive social din of an office. Unstructured, random and disruptive interactions. How anyone achieves optimal focus and gets into the zone when in an office is beyond me.
So my -efficiency- is higher. Total work productivity, sure, taken a hit.
Team velocity? What do people who say this do all day? Are you in sales?
Most of these things really are harder to do remote. I could honestly see how you'd be more productive and have stats to prove it if the vast majority of your responsibilities were just code.
Think of your work output as a vector. It has a magnitude - how much work you can get done in say a quarter. It also has a direction - what is the project you're working on, and does that line up in an economically productive way?
The reason we have corporations and management is to get all those vectors to line up in a certain direction. They're like magnets, aligning the productivity vectors of each IC so they don't compete with each other and instead contribute to a common goal. Almost every IC is less productive in terms of magnitude when working in a big corporation, but because there are thousands of them, the overall product becomes very hard to compete with.
WFH effectively reduces the magnetic force on each employee. Their productivity magnitude increases - they get more individual work done per unit time. But their alignment suffers. It's harder to identify when two IC's work is not going to line up perfectly, and harder to catch problems and complications early, and harder to set a direction in the first place.
And that's where WFH is going to suffer. As long as people can basically continue on the same direction they were going pre-pandemic, it's an improvement. But as soon as a direction shift becomes needed, corporations that have gone all-WFH are going to quickly find that the reason they're a corporation has gone away. They won't be able to adapt and chart a new course, and their employees will all quit and join new startups that are already pointed in the right direction.
If you recall "ping-gate" entire underground lines were shutdown in the UK due to people working jobs that can't be done remotely.
My passport took forever to get renewed during the very first lockdown due to disruption to a fairly manual process that required handling of physical things (eg a passport)
Although they saved money on studio rental and travel, they ended up teaching far fewer students - despite starting out with an established group of regular students, and charging much less than an in-person class would cost.
Where are these statements coming from?
Here's a summary of revenue/share for the S&P 500 (from Standard & Poor's data): https://www.multpl.com/s-p-500-sales/table/by-year
This time around, who wants to be Carter? Somehow I suspect we will be short of volunteers. Neoliberal propaganda shot itself in the foot. Oops.
Just like Obama, really.
Biden actually did it, and paid the political price. There was never going to be any way to withdraw without horrific consequences. Which is why neither Obama or Trump actually did it.
Volker was brought in by Carter.
And Reagan got all the credit - supposedly he tricked the Russians into thinking the Star Wars program actually worked and that was why they went bankrupt.
Things have obviously changed - but the basics are still there: inflation comes from monetary and fiscal expansion - once the spiral picks up - commodities lead the way - and that’s the Russians.
I think everyone agrees they can't raise rates to 20% without causing catastrophic side effects.
I think everyone also agrees they don't need to raise rates that high.
Highly subjective.
search for "Volker" http://bilbo.economicoutlook.net/blog/?p=7591
It’s an amazing turnaround from the unisonic voice of “it’s transitory”, ‘printer go brrrrrrt’ is a conspiracy, don’t you worry…