Inflation 7%

[bave]

The real reason for inflation comes from the increasing concentration of the US economy into the hands of a few giant corporations with the power to raise prices without fear of competition.

I think that is rather simplistic. The issue is one of supply and demand, not alternatives. A great example? Housing and used cars. There isn't some massive network of used car dealerships conspiring to drive up prices, nor do individual homeowners conspire in dark rooms.

 

[danielpalos]

I think that is rather simplistic. The issue is one of supply and demand, not alternatives. A great example? Housing and used cars. There isn't some massive network of used car dealerships conspiring to drive up prices, nor do individual homeowners conspire in dark rooms.

Unequal protection of the at-will employment laws for unemployment compensation results in economic inefficiencies regarding demand and supply.

 

[jonny5]

The real reason for inflation comes from the increasing concentration of the US economy into the hands of a few giant corporations with the power to raise prices without fear of competition.

No, its more money chasing fewer supplies. Govt is printing trillions, then handing it out in direct payment or low interest loans, while at the same time pandemic and policy is reducing labor and product, and increasing demand for goods. Textbook inflation.

 

[Lloyd Christmas]

dumb right wingers, of course, lets blame someone who has no control over inflation, and then worship the greedy scumbags making record profits, CEOs getting huge raises and bonues, while blaming their greed on "inflation".

Also, any supply issues worldwide are far outside of US influence. Also, who are the idiots who keep getting workers sick with covid becuase they are moronic, selfish scumbags that not only won't get vaccinated or wear a mask, they are preventing measures to encourage people to do so

But hey, that doesn't stop right wing Taliban from lying about it

 

[Lloyd Christmas]

LMAO.

Tell that to a single mother waitress and see if she gives a shit about your easing.

Like you give a shit about the poor. You don't, just like every selfish right winger who worships the greedy, fights universal healthcare, fightrs min wage increase. All you people do is spew moronic shit

Opinions???

Imagine someone trying to make the case about inflation eating up lower income earners only to totally refuse to post data regarding lower income wage growth.

Perhaps you can pick up this abandoned narrative?

Yeah, and arguing that why should those low skilled workers make a livable wage, or if they got paid more it would hurt eh business, or would icnrease prices. These people don't give a shit about the poor, liberals actually do and put our money where our mouths are and support policies to help them while the right suck off the greedy billionaires

 

[rahl]

No, its more money chasing fewer supplies. Govt is printing trillions, then handing it out in direct payment or low interest loans, while at the same time pandemic and policy is reducing labor and product, and increasing demand for goods. Textbook inflation.

It boggles the mind that this moronic talking point keeps getting repeated. Who is printing money? Where is it being printed?

 

[Lloyd Christmas]

I think that is rather simplistic. The issue is one of supply and demand, not alternatives. A great example? Housing and used cars. There isn't some massive network of used car dealerships conspiring to drive up prices, nor do individual homeowners conspire in dark rooms.

Except its bullshit. If the cost were supplies were raised and the prices went up, wouldn't profits remain level? profits are through the roof, so blaming inflation for that is typical lies the rich tell to dupe people into defending their greed.

And the country is owned by a handful of giant corporations. The entire food chain is like 3o or 4 giant companies, These companies also own the media. they run the country basically, and the right worships them

 

[bave]

Except its bullshit. If the cost were supplies were raised and the prices went up, wouldn't profits remain level? profits are through the roof, so blaming inflation for that is typical lies the rich tell to dupe people into defending their greed.

And the country is owned by a handful of giant corporations. The entire food chain is like 3o or 4 giant companies, These companies also own the media. they run the country basically, and the right worships them

No. You aren't understanding. It isn't the supply/demand of producer materials/costs but rather consumer.

It doesn't matter what the cost of a final retail good is, what matters is what you can sell it for and that is determined by supply and demand. Use cars as an example. The cost to manufacture a car hasn't risen, but there is a shortage. Do car manufacturers keep their prices the same knowing there is a shortage? No. They raise their prices as much as they can while still selling their maximum volume. It is profit maximization. More importantly, this is how you address shortages in the end market.

If the prices remained the same, they would simply sell out and be out of stock of more goods. So you manage scarcity with price, this is basic econ.

 

[Mulefoot]

Except its bullshit. If the cost were supplies were raised and the prices went up, wouldn't profits remain level? profits are through the roof, so blaming inflation for that is typical lies the rich tell to dupe people into defending their greed.

And the country is owned by a handful of giant corporations. The entire food chain is like 3o or 4 giant companies, These companies also own the media. they run the country basically, and the right worships them

I'm technologically challenged so I can't do this. But, but if someone could go to the Fred site, run corporate profits chart and overlay it with a monetary base chart, you'd have your answer on earnings. Company earnings are thru the roof because the Fed has been buying bonds from banks, issuing insane amounts of base money into circulation. Common folk have more jingle in their pocket than ever, and so now we're sitting here with too much of a good thing. My evidence is the Fed's desire to raise rates several times over the next 12 months.

As an aside, all this base money released into a system ultimately finds its way into investor/saver/wealthy hands because, well, behavior. Really hard for me to blame wealthy people for taking profits.

 

[Kushinator]

No, its more money chasing fewer supplies.

Can you cite the fewer supplies claim? I doubt it.

 

[danielpalos]

By solving simple poverty we can create more demand and provide more economic incentive for the private sector to achieve new market based equilibriums and efficiencies.

 

[Mulefoot]

By solving simple poverty we can create more demand and provide more economic incentive for the private sector to achieve new market based equilibriums and efficiencies.

You solve poverty by shifting wealth to the impoverished so they can demand more from the wealthy?

 

[georgephillip]

No, its more money chasing fewer supplies. Govt is printing trillions, then handing it out in direct payment or low interest loans, while at the same time pandemic and policy is reducing labor and product, and increasing demand for goods. Textbook inflation.

Why are corporate profits at an all time high during times of restricted supply, and who is in a better position to limit supply, corporations or consumers?

https://robertreich.substack.com/p/...sQ4&utm_source=substack&utm_medium=email#play

"As Chevron Corp.’s top executive Mike Wirth said in September, 'we could afford to invest more' in production but “the equity market is not sending a signal that says they think we ought to be doing that.'

"Translated: Wall Street says the way to maximize profits is to limit supply and push up prices instead, and we do whatever the Street wants."

 

[georgephillip]

And the country is owned by a handful of giant corporations. The entire food chain is like 3o or 4 giant companies, These companies also own the media. they run the country basically, and the right worships them

Robert Reich has supplied some recent examples confirming your claim:

https://robertreich.substack.com/p/...sQ4&utm_source=substack&utm_medium=email#play

"Last April, Procter & Gamble raised prices on consumer staples like diapers and toilet paper, citing increased costs in raw materials and transportation.

"But P&G has been making huge profits.

"After some of its price increases went into effect, it reported an almost 25 percent profit margin.

"Looking to buy your diapers elsewhere? Well, good luck.

"The market is dominated by P&G and Kimberly-Clark, which—not coincidentally—raised its prices at the same time.

"Another example: Last spring, PepsiCo raised its prices, blaming higher costs for ingredients, freight, and labor.

"It then recorded $3 billion in operating profits through September.

"How did it get away with this without losing customers?

"Simple.

"Pepsi has only one major competitor, Coca Cola, which promptly raised its own prices. Coca-Cola recorded $10 billion in revenues in the third quarter of 2021, up 16 percent from the previous year."

 

[georgephillip]

You solve poverty by shifting wealth to the impoverished so they can demand more from the wealthy?

FDR partially solved the poverty caused by the Great Depression by taxing the rich in order to pay for a massive federal jobs program. The wealthy acquire their fortunes because markets, money, and corporations are all creations of the state. Their opulence doesn't come from an "invisible hand" assessing their marginal utility, but rather the politically constructed laws and institutions that govern economic activity in a given society. Those laws and institutions currently privilege profit over human need, and they can be changed if a majority of voters decide to do so.

 

[danielpalos]

You solve poverty by shifting wealth to the impoverished so they can demand more from the wealthy?

Yes, thank you.

From 1978 to 2018, CEO compensation grew by 1,007.5% (940.3% under the options-realized measure), far outstripping S&P stock market growth (706.7%) and the wage growth of very high earners (339.2%). In contrast, wages for the typical worker grew by just 11.9%.

The point is that by solving for simple poverty the People can be more market friendly instead of more socially unfriendly.

 

[jonny5]

Why are corporate profits at an all time high during times of restricted supply, and who is in a better position to limit supply, corporations or consumers?

That answers itself. Demand is up, supply is down, that equals high prices. Supply is limited due to pandemic and govt policy enabling people not to have to work. Employment is still below pre pandemic levels, labor force participation is low, we have a global supply chain which is even more locked down than the US, the govt is letting in millions of immigrants who increase demand. And just look around all at the labor shortage.

 

[bave]

FDR partially solved the poverty caused by the Great Depression by taxing the rich in order to pay for a massive federal jobs program. The wealthy acquire their fortunes because markets, money, and corporations are all creations of the state. Their opulence doesn't come from an "invisible hand" assessing their marginal utility, but rather the politically constructed laws and institutions that govern economic activity in a given society. Those laws and institutions currently privilege profit over human need, and they can be changed if a majority of voters decide to do so.

The US tax code has done nothing but get more progressive since FDR. You think we need a jobs program? We have more jobs available than people seeking them.

As to your argument that all these evil corporations are raising prices at the same time, doesn't that just support the idea that it is a tight market with high relative demand and pricing power has shifted? I also find it odd that you are quoting gross revenue rather than net margin for KO, but we both know why that is.

Quoting Reich is usually a great way to get an eye roll from the start. You might as well quote Pikketty or Saez while you are at it.

 

[Checkerboard Strangler]

A significant amount of labor force constraint is due to the high cost of child care. If it costs $600 / week per child for daycare, and you only net $800 / week, i can see how many dual-income households would change their behavior. It's one of the reasons why we shouldn't close schools at this stage, as such an action impedes the labor market recovery.

We shouldn't close schools but we HAD to at the time, but NOW, if we MUST keep them open, everyone in the building MUST be vaccinated, students, employees and visitors.
You want schools open? I do too, and that's what needs to be done.

 

[bave]

We shouldn't close schools but we HAD to at the time, but NOW, if we MUST keep them open, everyone in the building MUST be vaccinated, students, employees and visitors.
You want schools open? I do too, and that's what needs to be done.

Yea, the data doesn't support any of this.

Look at the states with the least restrictions, particularly in schools, and their COVID outcomes. They are very similar to the states that locked down hard, except economically which had a very different outcome.

 

[Mulefoot]

Yes, thank you.

And the wealthy get wealthier. Just wanted to clarify.

 

[Lloyd Christmas]

No. You aren't understanding. It isn't the supply/demand of producer materials/costs but rather consumer.

It doesn't matter what the cost of a final retail good is, what matters is what you can sell it for and that is determined by supply and demand. Use cars as an example. The cost to manufacture a car hasn't risen, but there is a shortage. Do car manufacturers keep their prices the same knowing there is a shortage? No. They raise their prices as much as they can while still selling their maximum volume. It is profit maximization. More importantly, this is how you address shortages in the end market.

If the prices remained the same, they would simply sell out and be out of stock of more goods. So you manage scarcity with price, this is basic econ.

So why do idiots blame Biden, liberals, everybody else, when its really just greedy corporations fleecing us yet again? Record profits. Millions dumped into poverty by pandemic, while the top are making incredible gains? And people defend them? They are luck the American public, particular republcian voters, are so dumb and easily swayed to blame everything on illegals, people of color and liberals, because if they weren't, the rich's heads would be on pikes for their complete robbery of the country. All the whining about debt, that goes right into the hands of the wealthy.

Thats' why capitalism that we have in this country is shit. It's price gouging, during a pandemic. It is illegal to do so during a natural disaster, yeah, people will pay for it if desperate, but it is still shitty and unacceptable.

Just like the price gouging we are seeing now. ANd even more disgusting, from corporations that make multi billion dollar profits a year

 

[Mulefoot]

So why do idiots blame Biden, liberals, everybody else, when its really just greedy corporations fleecing us yet again? Record profits. Millions dumped into poverty by pandemic, while the top are making incredible gains? And people defend them? They are luck the American public, particular republcian voters, are so dumb and easily swayed to blame everything on illegals, people of color and liberals, because if they weren't, the rich's heads would be on pikes for their complete robbery of the country. All the whining about debt, that goes right into the hands of the wealthy.

Thats' why capitalism that we have in this country is shit. It's price gouging, during a pandemic. It is illegal to do so during a natural disaster, yeah, people will pay for it if desperate, but it is still shitty and unacceptable.

Just like the price gouging we are seeing now. ANd even more disgusting, from corporations that make multi billion dollar profits a year

Corporations exist to make a profit. If you don't like it, don't support them.

 

[Lloyd Christmas]

The US tax code has done nothing but get more progressive since FDR. You think we need a jobs program? We have more jobs available than people seeking them.

As to your argument that all these evil corporations are raising prices at the same time, doesn't that just support the idea that it is a tight market with high relative demand and pricing power has shifted? I also find it odd that you are quoting gross revenue rather than net margin for KO, but we both know why that is.

Quoting Reich is usually a great way to get an eye roll from the start. You might as well quote Pikketty or Saez while you are at it.

Oh yeah, tons of jobs at poverty wages, we thrives at that in this shitty country. And by the way, these greedy scumbag corporations taking all the profits could easily afford to pay their workers nonp overty wages, and still be comfortable for CEO and shareholders. And manufacture in the US and pay those wage salaries. But all they care about is profit at all costs.

 

[HikerGuy83]

A significant amount of labor force constraint is due to the high cost of child care. If it costs $600 / week per child for daycare, and you only net $800 / week, i can see how many dual-income households would change their behavior. It's one of the reasons why we shouldn't close schools at this stage, as such an action impedes the labor market recovery.

Finally, an admission that schools are nothing but subsidized day care.