This memo is from Janet Yellen to Alan Greenspan when he was Chairman of the Federal Reserve. She was a member of the Federal Reserve Board of Governors, then later became chair of the Federal Reserve herself. Now she is Joe Biden's partner in crime serving as the US Secretary of the Treasury. Why is it that they look like train robbers?
In 2021 Reuters reported that "US Treasury’s Yellen tamps down inflation fears over Biden spending plan." Yeah how did that spending plan work out for them? Turns out those fears about overspending creating more inflation were completely justified.
Well this memo says that "Alternatively stated, increased job insecurity makes it possible for firms to lower the wage premia they pay without suffering productivity-reducing worker backlash; with lower wage premia, firms hire more labor and produce more output."
Basically she's saying high unemployment is a good think because it keeps workers wages low. I kid you not. The Intercept just wrote about it. Here we have leftist freaks claiming high unemployment is a good thing because it keeps workers wages low and we can squeeze more work out of them and make more profit. These are the same freaks that say Workers of the World Unite while we f*ck you over for believing us.
This ties in with Chrystia Freeland's demand that workers and the middle class take a pay cut. It reveals the agenda and it reveals the lie.
Communists are supposed to support workers and the middle class but they don't. That's just another lie. Trade Unions in Communism don't have the right to strike. Communists claim to support LGBT but they don't. There are no LGBT rights in Communism because in Communism no one has any rights. High unemployment is not a good thing it's a bad thing.
When people are working, they're not collecting welfare and they're paying taxes. That means you have more tax revenue. That's a good thing. When you raise taxes and raise unemployment, that's bad for the economy. You have less tax revenue then you did before you raised taxes.