Inflation targeting, essentially a wealth confiscation target, has been sold to the public as a good thing and deflation as a bad thing. The poor are even whipped up into a frenzy to demand free stuff, which only results in more inflation and their never ending poverty. Good luck explaining this to a "liberal".
Blaming economic data on greed is stupid -- not because greed doesn't exist but because it always has. It makes as much sense as saying, "price inflation accelerated for the second month? Well that's because people have ten fingers!" (which come to think of it sounds like a real Biden quote).
Let’s give Biden the credit for corporate greed. Whatever his policies are caused these evil corporations to get greedy. All those executive orders cancelling Trump’s policies led to the environment allowing corporate greed. His DoJ’s lawfare set the stage for corporate greed. So, let’s give Biden full credit for the corporate greed he’s always spouting off about…
The Biden excuse of corporate greed causing higher prices would ring a little less bullshitty if S&P 500 profits in 2023 weren’t actually below where they were in 2021. They are way way below on an inflation adjusted basis.
The real problem is the inflation numbers have been so managed since the 70’s is they significantly understate actual inflation. “Owners Implied Rent” and “Chained” and “Core” gut the number by at least 50% just those three.
Then when you realize that the real inflation in the real economy is over 5 still and wage inflation - 180,000 to drive a UPS truck? - this thing is just started. Call it the return of the Wage/Price spiral.
I have zero doubt that corporate greed has played a role. And likely not a minor one. But, the situation is analogous to Obamacare. Large corporations had been itching to pass along more ‘healthcare’ costs to consumers for years prior to Obamacare. Obamacare gave them the perfect cover…hey it’s not our fault your costs are going up. Read the bill. I distinctly recall getting the letter from my former employer listing all the items they were now forced to cover (like maternity care for men) and blaming all those add on for the reason why premiums and copay’s were increasing. And once that happened, they have never looked back.
Thank you Traitor McCain.
Similarly, without the FED and the Administration conspiring to massively increase govt spending and throw free money at consumers, business could not have gotten away withthe level of price increases and shrink flation we have seen. And they also are not looking back.
Greed, whose root is pride, is Master of humans. While one may think they can control it, it shows up in our hearts daily. It is a formidable energy force that can only be fought with gratitude, a very difficult thing to achieve.
Most people are not satisfied nor content or thankful. These attributes leads to peace.
Greed (pride) will not be eradicated from our hearts during our lifetime on Earth, which is why we are always at war with one another.
Overly simplistic, yes. Admittedly, I have personal experience with this. Welcome to the club.
LOL. Removing Bidan would be fine. But that won’t solve the problem. Bidan is not the problem. He’s a dementia patient, juiced up on speed. He’s a symptom of the problem. He’s also a leacherous, treasonous, disgusting piece of rotting pond scum. But that’s a discussion for a different day.
Inflation targeting, essentially a wealth confiscation target, has been sold to the public as a good thing and deflation as a bad thing. The poor are even whipped up into a frenzy to demand free stuff, which only results in more inflation and their never ending poverty. Good luck explaining this to a "liberal".
Blaming economic data on greed is stupid -- not because greed doesn't exist but because it always has. It makes as much sense as saying, "price inflation accelerated for the second month? Well that's because people have ten fingers!" (which come to think of it sounds like a real Biden quote).
Let’s give Biden the credit for corporate greed. Whatever his policies are caused these evil corporations to get greedy. All those executive orders cancelling Trump’s policies led to the environment allowing corporate greed. His DoJ’s lawfare set the stage for corporate greed. So, let’s give Biden full credit for the corporate greed he’s always spouting off about…
Two options DC has are to inflate the debt down, easy, or legitimately cut not decrease spending, hard.
DC will always choose the easy path.
The Biden excuse of corporate greed causing higher prices would ring a little less bullshitty if S&P 500 profits in 2023 weren’t actually below where they were in 2021. They are way way below on an inflation adjusted basis.
The real problem is the inflation numbers have been so managed since the 70’s is they significantly understate actual inflation. “Owners Implied Rent” and “Chained” and “Core” gut the number by at least 50% just those three.
Then when you realize that the real inflation in the real economy is over 5 still and wage inflation - 180,000 to drive a UPS truck? - this thing is just started. Call it the return of the Wage/Price spiral.
Corporate Greed sounds like a pejorative metaphor for preserving job security for company employees and preservation of shareholder wealth.
… by printing enormous amounts of money and shifting to burden of repayment to our children, and their children…
I don't see the connection your reply has with my comment about corporate greed. Corporations obviously have nothing to do with printing money.
You don’t feel Biden spending $20T we don’t have under Bidenomics contributes to this “job security” and propping up markets?
I do but it isn't corporate greed, it is government irresponsibility, lack of accountability, and politics.
I have zero doubt that corporate greed has played a role. And likely not a minor one. But, the situation is analogous to Obamacare. Large corporations had been itching to pass along more ‘healthcare’ costs to consumers for years prior to Obamacare. Obamacare gave them the perfect cover…hey it’s not our fault your costs are going up. Read the bill. I distinctly recall getting the letter from my former employer listing all the items they were now forced to cover (like maternity care for men) and blaming all those add on for the reason why premiums and copay’s were increasing. And once that happened, they have never looked back.
Thank you Traitor McCain.
Similarly, without the FED and the Administration conspiring to massively increase govt spending and throw free money at consumers, business could not have gotten away withthe level of price increases and shrink flation we have seen. And they also are not looking back.
May they all rot in hell.
Greed, whose root is pride, is Master of humans. While one may think they can control it, it shows up in our hearts daily. It is a formidable energy force that can only be fought with gratitude, a very difficult thing to achieve.
Most people are not satisfied nor content or thankful. These attributes leads to peace.
Greed (pride) will not be eradicated from our hearts during our lifetime on Earth, which is why we are always at war with one another.
Overly simplistic, yes. Admittedly, I have personal experience with this. Welcome to the club.
Romans 7
It sounds like you think Bidenomics may be a problem, one that can be remedied by removing Biden from office…
LOL. Removing Bidan would be fine. But that won’t solve the problem. Bidan is not the problem. He’s a dementia patient, juiced up on speed. He’s a symptom of the problem. He’s also a leacherous, treasonous, disgusting piece of rotting pond scum. But that’s a discussion for a different day.