Stop calling corporate greed inflation…
Even adjusted for “inflation” they’re making record profits for the most part.
They just realized that since a handful of giant corporations control all the major brands, if everyone raises prices no one has other options.
It’s fucking price fixing. And neither political party wants to do anything because they get a lot of donations from corporations to pretend there’s any other reason for this besides greed.
When the gov and giant corps are in bed together, it almost makes for a fascist state. Just need to solidify the power into one, maybe two parties for good PR and…oh wait…
Well, yeah…
There has to be at least two so they can argue about stuff that doesn’t effect the people so wealthy to be insulated from them…
Meanwhile no matter who wins an election, the rich win 100% of the time.
Bonus point if your two official parties are also “private groups” who can do literally anything they want. They could even legally nominate the exact same person to the general even if that person didn’t run in either primary.
They’re private parties, they can do whatever the fuck they want and they’re also the only ones who can change the system they dominate.
You do that, and revolution is more of an inevitablity on a long enough timeline.
The worst thing over the middle of the pandemic was when news reporters started using the i word.
It’ kind of crazy how quickly the tone of interviews from industry reps and leaders shifted. From: “We’re sorry but we’ll all get through this. There are supply chain shortages due to not being able to transport or produce these essential goods and it leads to a chain reaction”
to
“YUP inflation. Sorry nothing we can do about it you know how that economy do.”
Why would that require a poll? Just look at the numbers, it’s not a matter of opinion.
I’m sure it’s true, but do we poll over everything now? I feel like there are better, more scientific sources to use than a CBS poll.
I just saw a poll about Bluetooth headphones being unhealthy for you earlier so I just feel like this in general and am using this as a place to put my thoughts tbh.
I just feel like we are putting to much faith into opinions of the “masses”, and believing what we read online.
A lot of things can be actually proven in other ways.
Polls are important especially in economics because people’s opinions matter. Everyone thinking the economy is bad will cause a recession even if there isn’t an economic reason for one otherwise.
True.
But this is also another volunteer, likely anonymous, YouGov internet poll that people are taking as fact again. Lemmy is flooded with them and they have no value
Here’s another YouGov poll post from a few days ago if you want to read discussion why they are/these posts are clickbait trash
Hasn’t been in decades. Thanks, Reagan. May you rot in hell.
I don’t understand the endgame of price gouging. It eventually will just completely destroy the economy.
I hate consumerism and capitalism, but like in functional capitalism the goal is to get people circulating cash as much as possible. The endgame of a massive pool of money on the part of the ruling class effectively will mean that currency is worthless over time.
Even under a shitty economic system that rewards greed, this doesn’t work for long. Only prioritizing the aims of literal psychopaths is a really fucking bad idea.
Even under a shitty economic system that rewards greed, this doesn’t work for long
That’s kind of the point, though: they literally don’t care about anything except short term profits, be they billionaires or corporations.
Get enough money fast enough and you’re rewarded maximally. Anyone thinking longer than the next quarter, fiscal year at the very most, will be overtaken by those that don’t.
The way the system is set up, once you have more than a set amount of money, you’re rich for the rest of your life. You won’t be allowed to fail even if you’re so bad at business that you lose a billion dollars in a decade where anyone else of your means profited like never before.
The government will bail you out in exchange for children going hungry in schools and commuter bridges crumbling.
There’s all incentives in the world to make a shitload of money fast and none to earn in a sustainable way.
You’re assuming our economy is made of “rational actors” as some Big Brains would tell you our theories are based off of.
The only rationale is “This make me money now. I do this. Company fail later? Me no care me have gold parachute. New company hire me for more and me do money thing again. Me successful important CEO man.”
The endgame of a massive pool of money on the part of the ruling class effectively will mean that currency is worthless over time.
How do you figure that? The only thing that would make that currency worthless is the people circulating the currency losing faith in it, i.e. revolution. Is that where your comment is going?
Not specifically. History has repeated a few times here, but “inflation”, either in a normal pace or artificially created, literally means money is worth less over time. 1920s Germany is a specific and extreme example of this that out in a disastrous way, and also coincides with a similar climate of political extremism. An overview of that period of time in Germany
The hyperinflation that occurred during the end of the Weimar Republic was because the government was “printing money” artificially devaluing the currency at extreme rates.
That isn’t even close to whats happening in the United States these days. The USA hasn’t “printed money” like that since the middle of 2020 with the end of QE4 (Quantitative Easing, 4th round). Further, in 2023 the USA is currently doing the opposite of “printing money” to control inflation, which is known as Quantitative Tightening..
I know that interest rates seem high right now, but that is just in comparison to the historically low interest rates of the last 20 years. Back in the mid 70s the prime interest rate was about 21%! Even in for most of the 80s it was above10%. Today its a relatively low 8.5%.
So to recap for the situation in the USA:
- the current interest rate is still historically low relatively
- USA government is not printing money which would artificially increase inflation
- USA government is doing the opposite of printing money which naturally decreases increase inflation
We are a long LONG way from the triple digit hyperinflation Weimar Republic or in Zimbabwe that lead to the 1 Trillion dollar bill
