Inflation reduction act?

Good evening,
I listened to a bulletin on the radio of how in the USA they have put in place legislation to help reduce inflation.
However I am puzzled as the act or bill is costing $740 billion dollars!

Surely the simplest way to reduce inflation of a currency is to reduce e the supply of the currency aka take dollars out of the economy not create more with government spending and more debt?

Or have I got this wrong and do I need to read up on it?

I was always taught supply vs demand is one of the infallible economic rules.

I understand (not necessarily agree) the concept of spending your way out of a stagnant economy by creating government demand which will boost the private sector.
But how does adding more dollars into circulation help with inflation?

Same in the UK, the vast debt the government has built up before Covid but especially during the Covid pandemic no doubt has been a cause of inflation, it may not be the only cause but it’s definitely had an effect.
And that debt is growing every day, the UK govt still spends more than it receives in taxes.

Also what’s wrong with a little bit of deflation?
I understand why rich people don’t like it, it makes the rest of us who don’t have huge savings and investments more wealthy as our wages are worth more.

Anyway , a bit of a ramble but that radio news bulletin has got me thinking!

I was just watching the BBC over here, and apparently there are several types of inflation. I wish I could drink!!! Thats is all I am going to say. But to be fair they made a good point.. That said.. I wish I could drink right now. LOL

We sort of have too much money supply, too little manufacturer supply side , making a perfect storm of inflation.

Make the money worth more by removing some of it out of circulation and you tackle one aspect of the problem.
It may be argued that this would also tackle the supply side as I have heard first hand from manufacturers they have never had it so good and no one is in a rush to going back to over supply and tight margins.
If you reduced the money supply you may see manufacturers all of a sudden increase their supply.

In terms of energy the government needs to give people more options.
I understand the net zero targets but allowing oil and gas drilling in the North Sea would increase supply while also raise revenue which can go into renewables.

Interesting times

This Boondoggle has nothing to do with reducing inflation and everything to do with corrupt politicians. The Democrats know they are going to be in the minority soon so they will ram down our throats as many pieces of rotten legislation as they can before that happens. The spineless globalist jellyfish in the GOP do the same thing when they are in power. Our corrupt federal government here has gotten so out of control it will take more than voting to fix it. The founding fathers must be rolling in their graves right now because we have a country where its cool to be stupid. America is more concerned with what pronouns to use and whats playing on Netflix than fixing the country. America had a good run but now its in decline and will continue to be. Just like Great Britain after WW2 no empires last forever.

I found this simple test ironic.
Before saying Democrats or Republicans which in today's terms usually refers to strong extremism. Take this test and put a screenshot of your results below. I was VERY surprised.
This test is for core values.

https://www.politicalcompass.org/test

AceBullion wrote:I found this simple test ironic.
Before saying Democrats or Republicans which in today's terms usually refers to strong extremism.  Take this test and put a screenshot of your results below. I was VERY surprised.  
This test is for core values.

https://www.politicalcompass.org/test

I did not say Dems or Reps I said Dems AND Reps. I dont need a test.

I was not suggesting you had to take the test  @Mike Xonox
I put it up because it was interesting. I personally keep my political views out of public. But I was really surprised at the results on the test. 

Again it was put up for fun, and of interest. No one has to take it. But it surprised a few people. Including me and also what my sons views are which are miles apart.

The test is well worth trying, the results are not what I expected !

I agree most politicians offer the same solutions to the same problems because they act on behalf of the establishment or rather those with real power or current power; this can be contrary to the interests of working people who don’t have that same power (we get to choose Conservative or Labour every 5 years, is there really much difference between establishment conservative leader whoever that is and mr establishment himself Kier Starmer).

You can see this played out in the narrative that wages must be the first thing to take a hit/suffer with inflation, it’s never anything painful for those with real wealth in assets not necessarily wages (I’m talking multi millionaires not the middle classes).

The problem all governments face and countries is there is a breaking point when the wealth gap gets to big, the pain becomes to large, etc.
this is not good for anyone short term, the fact that people are talking about refusing to pay energy bills in October is concerning as one piece of civil unrest leads to another.
This is a time for a prime minister to act in the interest of the people who rely on a wage , people who don’t have huge assets to draw upon, to stand up for them in a meaningful way instead of soundbites and small handouts.

Anyway I’m going off topic

Inflation must be conquered otherwise it does considerable damage to a country’s economy and wealth creation; I’m not sure adding more debt and spending helps.

As I am on my phone here are my results. Just because I felt that the test opened my eyes up a bit.

Well, you old softie, you @AceBullion

Mike Xonox wrote:

I will have to post my eldest sons results. I do not see a right or wrong, I find it very interesting on the outcome.. I do not want anyone to share what they wrote or put answers to if taking the test... That is a big can of worms we do not want to open. But it is interesting. 

Ironically your results are not on any extreme spectrum, I hope you found it interesting. As I said no one has to take this, there is no personal data or information given. But I find the results very very interesting. I will upload my sons soon. 

Thank you for having a go.

As promised, here is the view of a 15 year old. My son. And anyone taking the test or has taken it will probably see perhaps why he has moved so far on the spectrum. I am talking with him and having honest open conversations. I think life experience has yet to factor into his choices.

I gave it to the cats to do. They invade Yorkshire next week. Just as soon as they've woken up and finished washing.

I find it really interesting. 

thank you to everyone who tried that. This shows why no one will ever see eye to eye on politics. And why politics are soo different and a single spark can ignite a thread. 

That was the use behind the above. 

Admin wrote:
...
thank you to everyone who tried that. This shows why no one will ever see eye to eye on politics. And why politics are soo different and a single spark can ignite a thread. 
...

I'm not sure it shows anything at all apart from general tendency, which has always been (in a fairly free society under a leftist liberal education system) more liberal when young, more conservative when older. What algorithm was used?

kimchi wrote:

Admin wrote:
...
thank you to everyone who tried that. This shows why no one will ever see eye to eye on politics. And why politics are soo different and a single spark can ignite a thread. 
...

I'm not sure it shows anything at all apart from general tendency, which has always been (in a fairly free society under a leftist liberal education system) more liberal when young, more conservative when older. What algorithm was used?

Do the test. There are not many questions. But I know of a few people that I will not name who were really surprised.

Admin wrote:

Do the test. There are not many questions. But I know of a few people that I will not name who were really surprised.

OK so you don't know the algorithm. But who created it? What is their intended outcome for participants?

kimchi wrote:

Admin wrote:

Do the test. There are not many questions. But I know of a few people that I will not name who were really surprised.

OK so you don't know the algorithm. But who created it? What is their intended outcome for participants?

My understanding, this is why I didn't comment 

Is that it is to show the core values of each quadrant of the scales by measuring your replies. 

I don't know the answers your asking. BUT there is no personal information given to anyone. No email, no sign in, no create a account.. It was put up because it was a school thing and I decided to share it... that's all.

Admin wrote:

Is that it is to show the core values of each quadrant of the scales by measuring your replies. 

I don't know the answers your asking. BUT there is no personal information given to anyone. No email, no sign in, no create a account.. It was put up because it was a school thing and I decided to share it... that's all.

It doesn't matter that it's anonymous, it matters that it's giving you (us) feedback and a label we can't necessarily trust, and as you say some people have been very surprised at. No doubt some will consider, or even try to, 'adjust' their thinking in the future...

Hope you can see what I'm driving at!

I can see both sides to this argument, it could be intentionally geared towards a certain outcome but at the same time if no personal information especially contact information is provided the only ‘benefit’ to the info is to make a participant think/believe they fall under the group or label provided.

Ultimately I don’t think the old labels of left and right apply anymore, which is a good thing.

Wow, I am nearly right in the centre. I am obviously a well balanced person. Or insane. Probably the latter.

ArcaneCollector wrote:
Wow, I am nearly right in the centre. I am obviously a well balanced person. Or insane. Probably the latter.

I would say the latter if you took this test and set any store by it

@SanMarino has it right imo

SanMarino wrote:I can see both sides to this argument, it could be intentionally geared towards a certain outcome but at the same time if no personal information especially contact information is provided the only ‘benefit’ to the info is to make a participant think/believe they fall under the group or label provided.

Ultimately I don’t think the old labels of left and right apply anymore, which is a good thing.

I just seen your results, again close to mine but more in the authoritarian area. 

My son took this test and wrote down every answer he had, he then changed his answer to the polar opposite and the results were identical in the other direction. He played with his answer and it does move around. The questions are interesting, and I do not want to get into them. That is personal views and I know it would be open to debate. But we will all have our views and they wont change. 

As i said before it is a interesting test and I am not forcing anyone to take it. I hope those who did take it find it interesting....