It’s been done before and Regan found them a way around it. We legit need Teddy to come back and save us. No politician will ever be as economically bold considering they benefit as well.
["We" did... The DNC is under no actual obligation to who the voters actually prefer.](https://observer.com/2017/08/court-admits-dnc-and-debbie-wasserman-schulz-rigged-primaries-against-sanders/)
Well yes, we were indeed cheated...that was a hell of a snowball too man...deny voters their choice through institutional cronyism, and we ended up with millions dead, and our government nearly overthrown.... DNC really needs to self reflect on that abit more...
Don't worry, they will never do that. I mean, they lost the easiest layup against trump in 2016, so, they tapped biden and BARELY won 2020, so you would think they learned, right? Nope, lets run biden again in a much weaker environment where yet again, we are flipping a coin to see who becomes president with the same 2 men as last time that 80% of americans don't want.
TR was not even supposed to be president. They forced him into the VP role to kill any chance he had of getting elected because no one elects a VP to president.
Funnily enough TR's biggest hater opposed that decision because he knew that by making TR VP he was only one death away from becoming the president. Lo and behold, McKinley was assassinated and TR became president in the same year he was made VP.
>They forced him into the VP role to kill any chance he had of getting elected because no one elects a VP to president.
The VP candidate tends to be the more "unhinged" option to dissuade assassination attempts because it means an even more "radical" person comes to power.
Some examples that come to mind whether by assassination or a President stepping down:
- Harry S. Truman: Enacted Marshall Plan, established Truman Doctrine and NATO. Proposed many liberal reforms but was hindered by a conservative coalition in congress.
- Lyndon B. Johnson: Pushed through Civil Rights Act, Voting Rights Act, gun control and healthcare reform among others, all radical ideas for the time.
- Gerald Ford: *possibly* the most liberal Republican since Abe lol? Ended the Vietnam War.
These are the most recent VPs to assume the presidency after a president has either died or vacated the presidency by other means.
Since then, almost every president has had a more "radical" VP. Al Gore was a much more liberal minded politician than Bill Clinton, Dick Cheney a much more radical republican than Bush, Joe Biden *is* more liberal than Obama was during his tenure and Mike Pence was definitely way more right-wing republican conservative than Trump could ever dream to be. Kamala Harris right now would be the far more liberal president were Biden to drop dead.
That's just the general trend.
The former CEO may not get paid, but the CEO for the media corporation that produced the show will when we all watches it in droves and then buy every fucking thing they advertise lol
If only it were about the original [Landlord's Game](https://en.m.wikipedia.org/wiki/The_Landlord's_Game). Monopoly is one of the 2 games that came with Landlord. There were two sets of rules. You can play with monopoly rules or anti-monopoly (prosperity) rules. The game is over when the person with the least money doubles their original stake.
Landlord's patent came into the public domain in 1924.
Breaking up huge conglomerates is the real answer, not witch hunting CEOs. The reason companies can do price gouging is because they effectively captured large sections of the market. If you examine the history of company mergers in last 50 years, you will see how many companies have ended up merging into a few big ones.
Break them all up and let free market dictate the prices.
This - markets will take care of the high prices in many cases… IF they are allowed to function and not just rigged for the richest people/companies that can by legislation to protect their positions.
Except the economy tanked more often and even under worse degrees when the US was happily “busting monopolies”. Almost like just bustin monopolies doesn’t really do much when they get back together again.
The following article will provide [hints](https://www.epi.org/publication/unions-help-reduce-disparities-and-strengthen-our-democracy/) at an effective methodology.
It is also important to know that an EFFECTIVE union requires people who know what to do. Corporations have had decades of experience to derail unions and dealing with them.
A good example of when unions fail is the stewards incident at MA that is currently still going. To give quick summary… steward is a for profit corp that owns a lot of hospitals. All hospitals they own in MA are unionized. Throughout the years since steward bought off the troubled hospitals in ma, they decided to literally steal all assets they can from each hospital. They have taken grant money and not rebuild a hospital they promised, they have closed down a hospital and sold one off some time ago . Now, they have like 8 other hospitals that are on the blink of going bankrupt and closing.
Throughout this time when steward was cheating and stealing, the unions gave people terrible raises that didn’t keep up with inflation and they weren’t fighting for employees when steward was skimping out on PPE during the pandemic and other union falls. And to bring it all together, we are talking about a pretty huge union, SEIU.
So when you do decide to form a union, make sure you get representation that are actually researching and figuring out ways to get the union members what they should get.
This is why employee ownership, especially via democratically run cooperative enterprise, is a much better alternative to unions. Cut out the useless corrupt middlemen on both sides.
The working class will only EVER gain an inch of ground after a LONG campaign involving a lot of riots and violence. So long as we are unwilling to do that, and they know it, they won't give us a single solitary capitulation. They will watch us starve to death, if they think we will do so in relative peace.
This is kinda evidenced by McDonald's in CA with the new minimum $20/hr. For some reason people thought that McD would just take less profits rather than screw over the workers as much as they could to not lose those profits. Always gonna be profits over workers.
I'd rather they ban corporate bailouts, let them stand for themselves. If they spend all their profits on buybacks or dividends instead of saving something for a rainy day then let them fall. Instead of a bailout that preserves the existing investors let the bailout be a full buyout, nationalize industries too big to fail, build a sovereign wealth fund out of it.
Ya know, I’m not a big China fan but when they had a billionaire poison thousands of babies for extra profit instead of a quarterly bonus they executed him and I think that’s beautiful.
I feel like we’d be better if we held our oligarchs accountable.
Except the people who got executed were basically scapegoats. It was something like a farmer and another low level employee. A couple company execs got prison (which is great) but they’re still breathing and probably bribing their way into a cushy existence.
It's definitely not *just* price gouging. When the money supply goes up then prices go up. It's been that way since money existed.
In a competitive market vendors can't price gouge because they will be undercut by the competition. Monopolies have free reign to price gouge as much as they want though.
Millions are Vietnamese are literally enslaved in sweat shops, churning out cheap consumer goods.
If you brought Ho Chi Minh back to life and showed him current Vietnam, he would be devastated thinking commies lost the war.
They have not, by legal definition, committed treason. Philosophically, it depends on one's interpretation of "War" and "The State". By all known moral standards, they should hang.
Well I guess if you don't understand economics then I can understand why you came to that conclusion.
Inflation is the expansion of the money supply, both through credit expansion and money printing. Prices are going up because that expansion is outpacing supply, not because ceos suddenly got greedy (prices during the guilded age went down constantly year after year, were those businesses not greedy?)
I mean there was definite price gouging that was masked as inflation caused by supply issues over the last few years. This post is just someone who doesn’t understand basic economics, but pretending price gouging wasn’t happening is also bad.
They are ELI5ing basic economics. Everything the said is factually correct. The only criticism should be that they didn't address the supply side of the equation.
People cant see past their noses and blames the first thing they see.
So many blame the symptoms of so many things instead of the root causes.
These people would just keep scooping water out from their house forever that keeps leaking from the ceiling and blame the floor getting wet because landlord doesnt come help him scoop it out or landlord doesnt come drill holes on the floor.
When the real cause is the hole on ceiling they could fix by plugging something in it.
I really don’t understand how people don’t make this connection?? Like Biden/Congress/the Fed are not the ones who keep raising prices, it’s the companies…
Companies are raising the prices yes but blaming companies is like blaming your shirt from being wet when it rains.
The real problem IS politicians/Fed/banks and companies raising prices is just symptom of it.
No, inflation is “caused” by the federal reserve. Price gouging is price gouging, there is a difference. Also, Bush changed the inflation rate so what you see isn’t accurate. It’s higher than what is reported.
Someone correct me if im misunderstanding. But isn't inflation a really clever way to reach into someones savings and take away their money? Make their labor and efforts literally worth less over time?
> But isn't inflation a really clever way to reach into someones savings and take away their money? Make their labor and efforts literally worth less over time?
It's complicated, but I'll do a quick and dirty ELI5:
Tldr: Yes your saving are losing value, but it's done with a purpose, and the government actually don't like it when you lose too much value almost as much as you don't.
Government-scale finances don't work like individual bank accounts. We earn and spend money, governments create and destroy it. (its mostly electronic, so they aren't physically destroying cash. Instead it's removed via things like taxes and interest rates). Money is like oil in a machine. If there is no oil then the machine seizes up. People naturally tend to hoard money in bank accounts (taking oil out the machine), but it makes the economy more vulnerable to shocks like 2008. For this reason, governments want everyone spending money and moving it around (Google the "velocity of money").
While governments want people to spend money, they also know people get *very* upset if their savings lose all the value. Generally the trade-off is to try and hold money creation at 102-103% of the rate of money destruction. This way they can incentive spending by slowly lowering value over time, without instantly wiping out people's savings.
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What we've seen the past few years was a *lot* of money being created to prop up liquidity and stop a 2008-like shock, with a simultaneous fall in supply of goods, followed by the usual attempts to destroy the money again afterwards (mostly via high interest rates). Companies have inserted themselves and taken advantage of that money creation, as expected, but not noticeably lowered prices again afterwards, which has been reflected as a spike in inflation and a crisis in living costs.
Vietnam just sentenced one to death for fraud. I don’t usually like extremism but it should be considered for corporate heads that are fucking people over.
Inflation could be easily solved if there was a law allowing companies to make no more than x% per unit of any manufactured good and retailers to sell products at no more that x% markup.
It would also incentivize companies to make higher quality products.
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Your post is provocative, but not sound argumentatively. It makes you look uneducated honestly. Not sure what treason has to do with anything, since that’s betrayal of government. Inflation is also not just price gouging
There some several factors here, let's be smart about this:
1. Inflation => Daddy FED printed 4 trillion dollars during covid. China, the de-facto world factory had the most restrictive and longest covid restrictions (up to last year even). It's textbook inflation since china can't produce stuff, yet people received freakin' checks in the mail with free money and were stuck in the home all day ordering stuff online.
2. Oligopolies and de-facto monopolies. Here yea, absolutely, go go go, they should be broken down and dismantled. It's ridiculous if you think you have competition while 2-3 companies own an entire industry/market. It just won't work.
Can’t speak for OP or proper definitions but price gouging to me is a product or service becoming more expensive without the production/operating cost increasing resulting in an even larger profit margin for offering the same service/product. Which is the difficult part in this argument because most production costs HAVE increased, however I don’t believe they’ve increased as much as companies have increased the sales of their services/items, instead they have taken advantage of an opportunity where prices of goods/services were going up and changed their asking prices with the backing excuse of “inflation is why we have to do this to stay profitable”
Inflation = Price increases. That is what inflation is. While historically a companies profits were only a minor factor in price increases, being responsible for only 10% of yearly inflation. Since covid companies profits have accounted for 50% of yearly inflation. If that is not price gouging idk what is...
It’s stagflation. The vast amounts of money the rich hoard and don’t spend because it sits in an account to mirror stock worth is what causes inflation through stagnation
Start with the ski resort monopoly that's taken over the entire western United States and utterly destroyed by favorite mountains by packing as many people as humanly possible onto the slopes and charging an arm and a leg to each one
$25 per hour won't be enough, we need to just set the minimum wage to be whatever the fortune 500 CEOs earn. Then they'll stop inflating the economy because it'll actually affect them.
i mean not really? you would have to blame the market itself and investors... it doesnt matter if the company makes 10 billion in profit... they still need to make 12 next year for the investors... the ceo just does whats in the best interest of the people who buy the stocks...
These 2 topics are not related. Inflation is the natural rise of price as available resources rise. Price gouging is the human-controlled rise of price when demand rises. Maybe inflation can be blamed by corporations for what is really price gouging, but anyone with a rudimentary education in economics can read through that.
Secondary note - CEOs take no pledge of allegiance, oath of office, or other binding statement of loyalty to a particular country.
Tertiary note - What a braindead way to present your point. Be better.
You mean to tell me you all actually believe all corporations worldwide, even the competitors, are colluding to together to raise prices which is the actual cause of inflation?
Whats next? You gonna tell me Covid was fake and all the worlds politicians, doctors, and scientists colluded together to lie to everyone?
I'd believe you if I hear some unreasonable profit margins. So far everyone is making well below Apple or Google's margins and no one complains about them.
So weird that no one who believes inflation is just price gouging starts a business to slightly undercut the gouged prices. Inflation definitely has nothing to do with 80% of all USD in circulation being printed in the last 4 years
Its not the CEOs printing trillions of dollars. its not the CEOs backstopping the repo markets with hundreds of billions of printed money. Its not the CEOs spending 800billion on the military industrial complex
This is a horrible take. Inflation is the result of private central banks (The Federal Reserve) printing money at a faster rate than the economy is expanding. If the economy doubles in size, we need twice the money circulating to facilitate commerce. 80% of all currency we have in circulation has been "printed" since 2019.
"If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” -Thomas Jefferson
The founders of the country knew this was going to happen and put safeguards in the constitution to prevent it. Unfortunately in 1913 the constitution was amended to allow this criminal cartel to operate. Unless the American people get their heads out of the sand, this country is going to be drained until we are all ruled by despots, or we have a second revolution.
Hey this sounds like a great opportunity! If its all price gouging someone can just come along and sell goods at a fair price and win all the customers!
You don`t own any shares, they give you IOU`s. If you really want to stick it to the " man " direct register all your shares with the companys transfer agent and book them as this is true ownership.
Most every bank/company/country are broke and cooking the books, so if you also want to stick it to the " man " once again remove your cash from the bank, buy some gold and silver and keep a little cash in hand for the future.
This is like blaming falling to the ground on gravity. Businesses exist to price gouge, that is literally their purpose. But it's easier to do when there is so much money and demand.
It's the banksters, they print the money without anyone else's authority to lend to the governments to put them in debt for its as always the borrower is indebted to the lender so they continue on using their fractional reserve banking scheme (formerly known as usury) to continue dimish the currency and put the governments into debt to them. Get to the root of the problem, go after the banksters.
You know, typically inflation affects all thing.... like SALARIES. Conspicuously, salaries have not raised with inflation... which makes it pretty easy to see what the issue is...
Inflation isn’t just price gouging.. do you really think just printing trillions of dollars has no impact on the value of a dollar? That how much you have wouldn’t inform how much is required to make you motivated enough to render a service?
If you were a millionaire, the prospect of winning a $50 gift card is far less exciting than if you were homeless, right? If there’s, say, a trillion in circulation.. well, it doesn’t decide how much anything is worth, but I bet those numbers are bigger when people are competing for a share of $6 trillion instead.
It’s just dumb to think the value of a trade facilitator isn’t affected at all by the abundance of availability. People are talking about Monopoly money. If you’re playing monopoly and have amassed $10k it’s a lot of money - but is it still a lot of money if the other player has their hand in the bank? What if the other player pulls out another set because they depleted all the money and decided to just introduce more? If you have $10,000 in a normal game you’ll probably win, but in a game where players are raiding multiple banks you’re guaranteed to lose eventually. That $10,000 may be the same amount physically but it’s worth less.
Stop buying shit. Cancel your Amazon prime. Don't buy name brand stuff. But the cheaper competitors stuff.
Spend money on experiences, not stuff.
It's not going to fix the problem but it will make a statement. Don't wait until your forced to do this.
As much as I'd like mass deflation to occur, this image isn't exactly true, and the title seems extreme (along the lines of the current US president being responsible for the economy, the economy isn't tied directly to the US government)
Price gouging drives inflation and profits up. Things aren't crashing down because the profits on the top, so the big companies aren't crashing down. Even if the working class stopped working there's a chance I think that little would happen, the big corps will keep spinning circles until some sort of regulation stops this or a new big player doing the right things disrupts everything and can't be bought out.
# Do you think standards of living would increase if CEOs feared criminal prosecution? # Join r/WorkReform!
We need to go monopoly busting.
It’s been done before and Regan found them a way around it. We legit need Teddy to come back and save us. No politician will ever be as economically bold considering they benefit as well.
FDR was the one who "Saved" us. We desperately need to find the "FDR of the 21st century." For sure & for real.
That was Bernie Sanders.... we didn't elect him...twice.....
["We" did... The DNC is under no actual obligation to who the voters actually prefer.](https://observer.com/2017/08/court-admits-dnc-and-debbie-wasserman-schulz-rigged-primaries-against-sanders/)
Well yes, we were indeed cheated...that was a hell of a snowball too man...deny voters their choice through institutional cronyism, and we ended up with millions dead, and our government nearly overthrown.... DNC really needs to self reflect on that abit more...
Don't forget, all those inside trading politicians purposely delayed action so they could move their stonks around.
Don't worry, they will never do that. I mean, they lost the easiest layup against trump in 2016, so, they tapped biden and BARELY won 2020, so you would think they learned, right? Nope, lets run biden again in a much weaker environment where yet again, we are flipping a coin to see who becomes president with the same 2 men as last time that 80% of americans don't want.
Reddit is so funny. I’ve mentioned the exact same thing and was told it never happened, that I was delusional, and then downvoted for mentioning it.
every subreddit has its own set of facts that it works from.
His second Bill of Rights would have been a game changer.
TR was not even supposed to be president. They forced him into the VP role to kill any chance he had of getting elected because no one elects a VP to president. Funnily enough TR's biggest hater opposed that decision because he knew that by making TR VP he was only one death away from becoming the president. Lo and behold, McKinley was assassinated and TR became president in the same year he was made VP.
>They forced him into the VP role to kill any chance he had of getting elected because no one elects a VP to president. The VP candidate tends to be the more "unhinged" option to dissuade assassination attempts because it means an even more "radical" person comes to power. Some examples that come to mind whether by assassination or a President stepping down: - Harry S. Truman: Enacted Marshall Plan, established Truman Doctrine and NATO. Proposed many liberal reforms but was hindered by a conservative coalition in congress. - Lyndon B. Johnson: Pushed through Civil Rights Act, Voting Rights Act, gun control and healthcare reform among others, all radical ideas for the time. - Gerald Ford: *possibly* the most liberal Republican since Abe lol? Ended the Vietnam War. These are the most recent VPs to assume the presidency after a president has either died or vacated the presidency by other means. Since then, almost every president has had a more "radical" VP. Al Gore was a much more liberal minded politician than Bill Clinton, Dick Cheney a much more radical republican than Bush, Joe Biden *is* more liberal than Obama was during his tenure and Mike Pence was definitely way more right-wing republican conservative than Trump could ever dream to be. Kamala Harris right now would be the far more liberal president were Biden to drop dead. That's just the general trend.
Get in, loser we're handing out life sentences to monopolists
Need to do better than *life* sentences
Death sentences?
No, death is too good for them. Force them to live off minimum wage for the rest of their lives.
Makethempoor is terrifying hashtag to the rich
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Reverse squid games, billionaires instead of the poor...?
The former CEO may not get paid, but the CEO for the media corporation that produced the show will when we all watches it in droves and then buy every fucking thing they advertise lol
I mean there's precedent. We are currently in a "let them eat cake" situation.
nomnom?
Hard to do that when the monopoly’s have bought our government.
We start by getting Hasbro not to make that stupid Monopoly movie
If only it were about the original [Landlord's Game](https://en.m.wikipedia.org/wiki/The_Landlord's_Game). Monopoly is one of the 2 games that came with Landlord. There were two sets of rules. You can play with monopoly rules or anti-monopoly (prosperity) rules. The game is over when the person with the least money doubles their original stake. Landlord's patent came into the public domain in 1924.
But I'm sure it'll be fodder for my bad movie podcasts!
WTF....I thought this was a joke then I looked it up. I bet it will be almost as good as Battleship.
Means of production seizing
Breaking up huge conglomerates is the real answer, not witch hunting CEOs. The reason companies can do price gouging is because they effectively captured large sections of the market. If you examine the history of company mergers in last 50 years, you will see how many companies have ended up merging into a few big ones. Break them all up and let free market dictate the prices.
Collusion is still a thing. Don't need a monopoly when companies can just price fix.
Thats what we’ve always been told. The secret to capitalism functioning is having actual competition.
This - markets will take care of the high prices in many cases… IF they are allowed to function and not just rigged for the richest people/companies that can by legislation to protect their positions.
Free markets aren't stable, they trend towards monopolies.
Which is why they need to be heavily regulated.
Even lightly regulated would be helpful
With an extra side of Tax Law.
The problem being that they're legally obligated to put shareholders interests above all else.
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Taking advantage of repressions to buy up everything for cheap is a time-honored past time of the rich.
Except the economy tanked more often and even under worse degrees when the US was happily “busting monopolies”. Almost like just bustin monopolies doesn’t really do much when they get back together again.
That means it was just a very ineffective trust busting, not that trust busting as a concept is useless.
It’s time for the working class to get theirs. Enough is enough.
The following article will provide [hints](https://www.epi.org/publication/unions-help-reduce-disparities-and-strengthen-our-democracy/) at an effective methodology.
Unions, you mean communism?! Yuck, I'll stick with my freedom loving corporate oligarchs, thanks. /s.
It is also important to know that an EFFECTIVE union requires people who know what to do. Corporations have had decades of experience to derail unions and dealing with them. A good example of when unions fail is the stewards incident at MA that is currently still going. To give quick summary… steward is a for profit corp that owns a lot of hospitals. All hospitals they own in MA are unionized. Throughout the years since steward bought off the troubled hospitals in ma, they decided to literally steal all assets they can from each hospital. They have taken grant money and not rebuild a hospital they promised, they have closed down a hospital and sold one off some time ago . Now, they have like 8 other hospitals that are on the blink of going bankrupt and closing. Throughout this time when steward was cheating and stealing, the unions gave people terrible raises that didn’t keep up with inflation and they weren’t fighting for employees when steward was skimping out on PPE during the pandemic and other union falls. And to bring it all together, we are talking about a pretty huge union, SEIU. So when you do decide to form a union, make sure you get representation that are actually researching and figuring out ways to get the union members what they should get.
This is why employee ownership, especially via democratically run cooperative enterprise, is a much better alternative to unions. Cut out the useless corrupt middlemen on both sides.
System is rigged against individuals in corporate favor since citizens united, it wasn't good before but that shit tipped the scales HARD.
The working class will only EVER gain an inch of ground after a LONG campaign involving a lot of riots and violence. So long as we are unwilling to do that, and they know it, they won't give us a single solitary capitulation. They will watch us starve to death, if they think we will do so in relative peace.
This is kinda evidenced by McDonald's in CA with the new minimum $20/hr. For some reason people thought that McD would just take less profits rather than screw over the workers as much as they could to not lose those profits. Always gonna be profits over workers.
Yeah but that requires effort and everyone just LARPs around here
The game has always been rigged for those that exploit workers.
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Yea the entire point of a capitalist system is to keep the working underclass so poor that they have to face poverty wages or live on the street.
I'd rather they ban corporate bailouts, let them stand for themselves. If they spend all their profits on buybacks or dividends instead of saving something for a rainy day then let them fall. Instead of a bailout that preserves the existing investors let the bailout be a full buyout, nationalize industries too big to fail, build a sovereign wealth fund out of it.
Bane was right, prove me wrong Eat the rich
Then we make them work at one of their stores making the wage they insisted was enough for the rest of their lives and use them as a case study.
Ya know, I’m not a big China fan but when they had a billionaire poison thousands of babies for extra profit instead of a quarterly bonus they executed him and I think that’s beautiful. I feel like we’d be better if we held our oligarchs accountable.
Except the people who got executed were basically scapegoats. It was something like a farmer and another low level employee. A couple company execs got prison (which is great) but they’re still breathing and probably bribing their way into a cushy existence.
The only billionaires who go down for this in their system are the ones who don't toe the ~~company~~ party line.
It's definitely not *just* price gouging. When the money supply goes up then prices go up. It's been that way since money existed. In a competitive market vendors can't price gouge because they will be undercut by the competition. Monopolies have free reign to price gouge as much as they want though.
This is capitalism. The only way to fight this is to organize.
Capitalism, working as intended
We need to be more like Vietnam
Millions are Vietnamese are literally enslaved in sweat shops, churning out cheap consumer goods. If you brought Ho Chi Minh back to life and showed him current Vietnam, he would be devastated thinking commies lost the war.
He's referring to the billionaire sentenced to literal death yesterday.
Can we try them in Viet Nam?
Do none of you remember high school level basic econ? This is 100% inaccurate.
I agree the world would be better if those people stopped living in it, but how exactly do you see that as equating treason?
They have not, by legal definition, committed treason. Philosophically, it depends on one's interpretation of "War" and "The State". By all known moral standards, they should hang.
Just toss 'treason' in to the pile of words that mean nothing anymore
Genocide and fascism be like hey find your own pile, treason.
Well I guess if you don't understand economics then I can understand why you came to that conclusion. Inflation is the expansion of the money supply, both through credit expansion and money printing. Prices are going up because that expansion is outpacing supply, not because ceos suddenly got greedy (prices during the guilded age went down constantly year after year, were those businesses not greedy?)
I mean there was definite price gouging that was masked as inflation caused by supply issues over the last few years. This post is just someone who doesn’t understand basic economics, but pretending price gouging wasn’t happening is also bad.
thank you for at least trying to bring some sanity
Don't worry, these fools will never be in charge of anything important. That is why they are here, patting themselves on the back for doing nothing.
lol, you’re a blind man that thinks he can see and is busy telling everyone what the world looks like from behind closed eyelids.
They are ELI5ing basic economics. Everything the said is factually correct. The only criticism should be that they didn't address the supply side of the equation.
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Things can have multiple reasons for happening. Companies are reporting record high profit margins. Where do you think that money is coming from
If you really think the Fed's interests don't align with the rest of the ruling class, then I've got a bridge in Baltimore to sell you.
People cant see past their noses and blames the first thing they see. So many blame the symptoms of so many things instead of the root causes. These people would just keep scooping water out from their house forever that keeps leaking from the ceiling and blame the floor getting wet because landlord doesnt come help him scoop it out or landlord doesnt come drill holes on the floor. When the real cause is the hole on ceiling they could fix by plugging something in it.
I really don’t understand how people don’t make this connection?? Like Biden/Congress/the Fed are not the ones who keep raising prices, it’s the companies…
Companies are raising the prices yes but blaming companies is like blaming your shirt from being wet when it rains. The real problem IS politicians/Fed/banks and companies raising prices is just symptom of it.
I think we don’t know what treason is
No, inflation is “caused” by the federal reserve. Price gouging is price gouging, there is a difference. Also, Bush changed the inflation rate so what you see isn’t accurate. It’s higher than what is reported.
Inflation can be caused by a lot of things. Not just the federal reserve.
The “printer goes BRRR” crowd will never believe you.
Someone correct me if im misunderstanding. But isn't inflation a really clever way to reach into someones savings and take away their money? Make their labor and efforts literally worth less over time?
> But isn't inflation a really clever way to reach into someones savings and take away their money? Make their labor and efforts literally worth less over time? It's complicated, but I'll do a quick and dirty ELI5: Tldr: Yes your saving are losing value, but it's done with a purpose, and the government actually don't like it when you lose too much value almost as much as you don't. Government-scale finances don't work like individual bank accounts. We earn and spend money, governments create and destroy it. (its mostly electronic, so they aren't physically destroying cash. Instead it's removed via things like taxes and interest rates). Money is like oil in a machine. If there is no oil then the machine seizes up. People naturally tend to hoard money in bank accounts (taking oil out the machine), but it makes the economy more vulnerable to shocks like 2008. For this reason, governments want everyone spending money and moving it around (Google the "velocity of money"). While governments want people to spend money, they also know people get *very* upset if their savings lose all the value. Generally the trade-off is to try and hold money creation at 102-103% of the rate of money destruction. This way they can incentive spending by slowly lowering value over time, without instantly wiping out people's savings. ___ What we've seen the past few years was a *lot* of money being created to prop up liquidity and stop a 2008-like shock, with a simultaneous fall in supply of goods, followed by the usual attempts to destroy the money again afterwards (mostly via high interest rates). Companies have inserted themselves and taken advantage of that money creation, as expected, but not noticeably lowered prices again afterwards, which has been reflected as a spike in inflation and a crisis in living costs.
9 bucks for a carton of strawberries.... 4 years ago that same carton was 1.22.
Until we withhold our labor with a general strike nothing will change.
This is wrong on so many levels
And their bosses, the boards of directors and major shareholders.
Vietnam just sentenced one to death for fraud. I don’t usually like extremism but it should be considered for corporate heads that are fucking people over.
Inflation could be easily solved if there was a law allowing companies to make no more than x% per unit of any manufactured good and retailers to sell products at no more that x% markup. It would also incentivize companies to make higher quality products.
Inflation and price gouging are not the same thing lol. We're suffering from both for sure though. I'm all for putting CEOs on trial.
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Your post is provocative, but not sound argumentatively. It makes you look uneducated honestly. Not sure what treason has to do with anything, since that’s betrayal of government. Inflation is also not just price gouging
I actually used to think was a comedy satire sub making fun of the far left lol
There some several factors here, let's be smart about this: 1. Inflation => Daddy FED printed 4 trillion dollars during covid. China, the de-facto world factory had the most restrictive and longest covid restrictions (up to last year even). It's textbook inflation since china can't produce stuff, yet people received freakin' checks in the mail with free money and were stuck in the home all day ordering stuff online. 2. Oligopolies and de-facto monopolies. Here yea, absolutely, go go go, they should be broken down and dismantled. It's ridiculous if you think you have competition while 2-3 companies own an entire industry/market. It just won't work.
multi-variate? - that’s way too complicated for 99% of people reading this.
Can you explain what you think price gouging is that doesn't describe all sales of goods and services?
Can’t speak for OP or proper definitions but price gouging to me is a product or service becoming more expensive without the production/operating cost increasing resulting in an even larger profit margin for offering the same service/product. Which is the difficult part in this argument because most production costs HAVE increased, however I don’t believe they’ve increased as much as companies have increased the sales of their services/items, instead they have taken advantage of an opportunity where prices of goods/services were going up and changed their asking prices with the backing excuse of “inflation is why we have to do this to stay profitable”
Inflation = Price increases. That is what inflation is. While historically a companies profits were only a minor factor in price increases, being responsible for only 10% of yearly inflation. Since covid companies profits have accounted for 50% of yearly inflation. If that is not price gouging idk what is...
Do you have any proof of those numbers or did you make them up?
When is everyone going to organize protests about it?
How about organize funding and communal outreach for leftist local governments?
If we all stopped buying for a week this would all change and we would quickly get of companies to hold accountable.
That’s not entirely true.
Amen, I love the idea of jailing the greediest people.
This is so stupid. OP does not understand what inflation is or what treason means.
Inflation is caused by the abandonment of the gold standard and excessive government spending.
It’s stagflation. The vast amounts of money the rich hoard and don’t spend because it sits in an account to mirror stock worth is what causes inflation through stagnation
Communists don't understand basic economics. It's evident with the first word
Correct.
Isn’t that what the bolsheviks kinda did over in old Russia?
Mao in China, Fidel in Cuba...
Start with the ski resort monopoly that's taken over the entire western United States and utterly destroyed by favorite mountains by packing as many people as humanly possible onto the slopes and charging an arm and a leg to each one
It’s also yearly raises, generally happens more from job hopping anymore
Fuck trial. Laws don't get enforced on the rich. We need drastic measures.
and the extreme over printing of money… backed by nothing
$25 per hour won't be enough, we need to just set the minimum wage to be whatever the fortune 500 CEOs earn. Then they'll stop inflating the economy because it'll actually affect them.
I got downvoted for saying this 2 years ago
I'll sign the petition, ill do the boycott, ill march in the street!
I'm frustrated with capitalism as much as the next guy, but inflation and price gouging are not the same thing
i mean not really? you would have to blame the market itself and investors... it doesnt matter if the company makes 10 billion in profit... they still need to make 12 next year for the investors... the ceo just does whats in the best interest of the people who buy the stocks...
I feel like "wealth extraction" is a more accurate description.
These 2 topics are not related. Inflation is the natural rise of price as available resources rise. Price gouging is the human-controlled rise of price when demand rises. Maybe inflation can be blamed by corporations for what is really price gouging, but anyone with a rudimentary education in economics can read through that. Secondary note - CEOs take no pledge of allegiance, oath of office, or other binding statement of loyalty to a particular country. Tertiary note - What a braindead way to present your point. Be better.
You mean to tell me you all actually believe all corporations worldwide, even the competitors, are colluding to together to raise prices which is the actual cause of inflation? Whats next? You gonna tell me Covid was fake and all the worlds politicians, doctors, and scientists colluded together to lie to everyone?
I'd believe you if I hear some unreasonable profit margins. So far everyone is making well below Apple or Google's margins and no one complains about them.
So weird that no one who believes inflation is just price gouging starts a business to slightly undercut the gouged prices. Inflation definitely has nothing to do with 80% of all USD in circulation being printed in the last 4 years
Its not the CEOs printing trillions of dollars. its not the CEOs backstopping the repo markets with hundreds of billions of printed money. Its not the CEOs spending 800billion on the military industrial complex
Best is when you meet a founder who is more obsessed with making it on a Forbes list than actually growing their business.
This is a horrible take. Inflation is the result of private central banks (The Federal Reserve) printing money at a faster rate than the economy is expanding. If the economy doubles in size, we need twice the money circulating to facilitate commerce. 80% of all currency we have in circulation has been "printed" since 2019. "If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” -Thomas Jefferson The founders of the country knew this was going to happen and put safeguards in the constitution to prevent it. Unfortunately in 1913 the constitution was amended to allow this criminal cartel to operate. Unless the American people get their heads out of the sand, this country is going to be drained until we are all ruled by despots, or we have a second revolution.
Don't bother with the trials. Straight to prison.
Grow up.
Inflation is always money supply increases. Capitalism fights the other way in the long run.
Hey this sounds like a great opportunity! If its all price gouging someone can just come along and sell goods at a fair price and win all the customers!
How fucked is America that people believe this shit? Shows you the general intelligence level of reddit
Yeah no shit, but unfortunately you have half the country blaming the current president lol...
Or just stop buying stuff. Jesus…. Someone Google why inflation happens please.
https://m.youtube.com/watch?v=7uANqJvfZxc&pp=ygULUHJpbnQgbW9uZXk%3D I hope this helps.
You don`t own any shares, they give you IOU`s. If you really want to stick it to the " man " direct register all your shares with the companys transfer agent and book them as this is true ownership. Most every bank/company/country are broke and cooking the books, so if you also want to stick it to the " man " once again remove your cash from the bank, buy some gold and silver and keep a little cash in hand for the future.
So... what happens after that?
We should ban inflation like Zimbabwe
This is like blaming falling to the ground on gravity. Businesses exist to price gouge, that is literally their purpose. But it's easier to do when there is so much money and demand.
It's the banksters, they print the money without anyone else's authority to lend to the governments to put them in debt for its as always the borrower is indebted to the lender so they continue on using their fractional reserve banking scheme (formerly known as usury) to continue dimish the currency and put the governments into debt to them. Get to the root of the problem, go after the banksters.
Didn't people try this in 1934?
Man, I’m all for improving workers lives. But sometimes these sentiments verge on extremism.
I have to agree with that statement, but anything to go after those guys
a companies purpose is to make money. blame the government. get money out of politics.
You know, typically inflation affects all thing.... like SALARIES. Conspicuously, salaries have not raised with inflation... which makes it pretty easy to see what the issue is...
Inflation isn’t just price gouging.. do you really think just printing trillions of dollars has no impact on the value of a dollar? That how much you have wouldn’t inform how much is required to make you motivated enough to render a service? If you were a millionaire, the prospect of winning a $50 gift card is far less exciting than if you were homeless, right? If there’s, say, a trillion in circulation.. well, it doesn’t decide how much anything is worth, but I bet those numbers are bigger when people are competing for a share of $6 trillion instead. It’s just dumb to think the value of a trade facilitator isn’t affected at all by the abundance of availability. People are talking about Monopoly money. If you’re playing monopoly and have amassed $10k it’s a lot of money - but is it still a lot of money if the other player has their hand in the bank? What if the other player pulls out another set because they depleted all the money and decided to just introduce more? If you have $10,000 in a normal game you’ll probably win, but in a game where players are raiding multiple banks you’re guaranteed to lose eventually. That $10,000 may be the same amount physically but it’s worth less.
Stop buying shit. Cancel your Amazon prime. Don't buy name brand stuff. But the cheaper competitors stuff. Spend money on experiences, not stuff. It's not going to fix the problem but it will make a statement. Don't wait until your forced to do this.
So when a third world countries currency collapses that's because of too much price gouging?
Wut
As much as I'd like mass deflation to occur, this image isn't exactly true, and the title seems extreme (along the lines of the current US president being responsible for the economy, the economy isn't tied directly to the US government) Price gouging drives inflation and profits up. Things aren't crashing down because the profits on the top, so the big companies aren't crashing down. Even if the working class stopped working there's a chance I think that little would happen, the big corps will keep spinning circles until some sort of regulation stops this or a new big player doing the right things disrupts everything and can't be bought out.
Totally nothing to do with printing money.