‘Disgusting’ and ‘entitled’: MPs slam Gurner’s call for job losses
‘Disgusting’ and ‘entitled’: MPs slam Gurner’s call for job losses
Politicians from both sides, and US left-wing icon Alexandria Ocasio-Cortez, have slammed billionaire Tim Gurner’s comments about unemployment needing to rise.
Politicians from both sides, and US left-wing icon Alexandria Ocasio-Cortez, have slammed billionaire Tim Gurner’s comments about unemployment needing to rise.
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But at the same time they're encouraging the loss of jobs to bring down inflation. Everyone likes to talk about interest rate rises cooling inflation but they never mention that the cooling effect is largely a function of lost employment.
That's not specifically how it works. Rate hikes discourage M&A, Capex in general, and new business launches. Jobs aren't necessarily lost.
For instance, with all our rate hikes in the US, we're still adding jobs on net every month, but inflation is falling.