pigs are maybe cow-dogs

::: spoiler Text What's happening: The idea that corporate greed, or "greedflation," is the cause of persistent inflation is making the rounds again, so it's worth reiterating the obvious: there is no such thing as "greedflation."

The facts: Inflation is caused by clear and well-understood economic factors that stem from supply and demand. Prices rise when we have too many dollars chasing too few goods and services. There is nothing more complicated to the story than that.

During the pandemic, we had a limited supply of goods and services coupled with an increase in demand. Prices rose as a result, but that effect was short-lived. It faded once the economy began reopening.

The Fed's role: The more long-lasting effect of inflation is the Federal Reserve's (the Fed) expansion of the money supply. This expansion of the money supply was well above any increase in the size of the economy, hence too many dollars facing too tew goods and services. The persistent inflation we are experiencing now is from that expansion. The slow reduction of inflation coincides with a declining money supply, which takes time to achieve.

This is not to criticize the Fed's COVID-era monetary policy. It had to do what was necessary to stop a financial crisis while the world dealt with a pandemic.

Unfortunately, the timing for unwinding those actions got away from the Fed for a variety of reasons, including how long the virus lingered and the size and timing of the fiscal response to COVID. :::

looks like I need to tighten the wheels

Digital atomic wall clock showing the time of 7:04 PM, an outside temperature of 158°F, and humidity of 99% outdoors.





edit:
A replacement sensor is just over $20, but I found this (see below) for $15, so both my wall clock and the new one can read off the same new, full functional sensor. So now it’s fixed.

It’s weird that the new one does outdoor and indoor temp, but not humidity. The old one does outdoor temp and humidity, but not indoor temp. And the new one isn’t an atomic clock. I had to set it manually.

I knew I wasn’t interested in A.I. for a while now, but I think I can finally put it into words.

A.I. is supposed to be useful for things I’m not skilled at or knowledgeable about. But since I’m not skilled at or knowledgeable about the thing I’m having A.I. do for me, I have no way of knowing how well A.I. accomplished it for me.

If I want to know that, I have to become skilled at or knowledgeable about the thing I need to do. At this point, why would I have A.I. do it since I know I can trust I’m doing it right?

I don’t have a problem delegating hiring people who are more skilled at or more knowledgeable about something than me because I can hold them accountable if they are faking.

With A.I., it’s on me if I’m duped. What’s the use in that?

I may need to say something that is (seemingly) nice about someone, but I’d prefer it be very subtly backhanded or nearly believable hyperbole.



Edit: I realized that I was imagining something like how the Colbert Report was done where it’s easy to believe I’m agreeing when really I’m spoofing.