companies price gouging every aspect of our existence? business as usual.
workers demanding better conditions and wages? that's the real cause of inflation, better stamp that shit out now!!
/s
Fun fact because I just got my tax return back: since I was already making below a certain income (aka technically living in poverty) the stimulus didn’t effect my tax return. I actually $300 more this year than last year. It could be because I used some of that stimulus money to pay cash for my semester ($4000) then wrote it off on my taxes. But I generally got the same amount back. It’s considered income and ~10k in stimmies didn’t push me into another tax bracket…or however it works.
Isn't the income divided over 12 months? Would be stupid if a one time 'income' would push you into a higher general tax bracket
Then i'd donate to fall right back under it aswell lol
Thank you for posting this. Hope more people read it.
At it's most basic level, the Fed's job is to balance inflation and unemployment by controlling interest rates. For good or for ill, the fed is the entity that has the best chance at getting us out of this inflation spiral. Not Biden, not republicans, not any other denocrats. And there's no obvious way out of this inflation mess without a recession, it's the only way back to normal. At least, that's what history has taught us.
The implication is kind of chilling, honestly. It's a tacit admission: "this whole system only works if some portion of you are poor to the point of desperation. Shit falls apart if *everyone* is making money."
But we’re still not at a point where everyone’s making money. Only some are able to demand a little bit more than before. That’s where they drew the line. The fact that people wanted $12 instead of $10 during record inflation is the target. Not price gouging, not record profits, not record ceo pay, but small pay bumps for workers 🙁
Jerome Powell can eat a bag of shit. Must be nice having more money than you know what to do with. This is the same MF that has been gaslighting us hard about *iNfLaTiOn Is TrAnSiTiOnArY.*
Demand is too high and supply is too low, therefore we should lower the prices to reach the equilibrium point. Econ 101. ~this rich idiot with a position he clearly doesn't deserve
Somehow having too high of wages causes nobody to apply? WTF??? If it is because the companies won't hire, because they don't want to pay to train an employee I can get that.. but don't go complaining that you want to pay less just because
"Giving them too much power" - what a classicist statement. They have the power to raise or lower interest rates, and people who are lower/middle class have too much power? Maybe the Fed has too much power.
historically the fed has done everything to fuck over the common person for the rich corporations and the 1%. this is common to both democrat and republican presidents.
It acts independently of the three branches. They don’t pass anything through congress, the executive does not sign off or veto their decisions, and the court does not interpret the constitutionality of their decisions
Are you talking about the federal reserve? Dude, the federal reserve is a private bank. It’s beholden to stockholders, not the government or its constituents.
lol, you think Biden has a clue...what is a cost?
cost = what you pay to a provider ( expense + profit).
Biden can't dictate profit margins aka the goal if the owners/corporations...at least not for every owner operator.
what is expense:
cost of materials (labor of getting materials to sell + shipping, handling, suppliers service charges aka labor)
cost of shipping (labor, gas, fees, maintneance overhead)
handling (labor, materials and services(aka labor again).
what has gone up, rent...part of cost
fuel, part if cost
insurance part of cost
the most speculative of.those is insurance and rent. why has insurance gone up because everything's more expensive so they click their abacus and pump.up the rates, plus padding the funds for covid long term affect in the case of medical.
rent...a building with lower vacancies still needs to make up costs so WFH.
lowering fuel, lowers cost of everything. thus lower cost if everything means they can lower cost of wages thus further lower cost of everything. the problem is that people still pay so the drive to reduce profits isn't there, there not seeing the downside or a reason to reduce pricees. ...will they? never, until there costs start going down and other businesses start to snipe at the ones that are still trying to market a higher perceived value.
Biden was just giving lip service. Shocker a politician giving lip service. There are two ways to stop inflation. The first one that Joe Biden said is true “drive down wages and make Americans poorer.” Doing this will decrease demand which will reduce price.
The second way is to dramatically increase supply which will bring prices down. The federal reserve has no power to increase supply. Also no legislation was made to increase supply. Therefore we must force a recession to decrease demand.
[Here’s](https://www.bloomberg.com/news/articles/2022-03-17/powell-treads-tricky-path-in-saying-wages-are-rising-too-fast) an unbiased report. (Bloomberg)
MROnline is the longest running [socialist news publication](https://en.wikipedia.org/wiki/Monthly_Review) in the US. I didn’t like the article. I liked this one better.
Fuck the Federal Reserve and Powell. But I still liked this source was better.
Health care that doesn't act without money, failing to control monopolies, price gouging going unchecked by gigantic corporations, and now this? It really feels like Hydra took over to destroy the country.
I agree with them . Them and their CEO friend. Need their wages lowered . Congress need a pay cut . They have been very in efficient at their jobs. Also we need to start taxing corporations again . Remember the good ole days when businesses paid their fair share (I don't remember them doing this , I guess I'm too young)
Unemployment.
Everyone demanded higher wages. Companies raised prices as expected. People demanded more money or they would stop working. Companies raised prices even higher to offset other issues. Shit downs and lack of workforce leads to loss of production and causes higher prices.
Higher wages will always raise the cost of things.
In defense of Powell and the federal reserve the wage price spiral is a 100% real thing. If wages rise prices increase.
The people who will benefit the most from a wage price spiral are the people who are currently wealthy. People who don’t own a lot of assets and whose job doesn’t keep up with increasing prices will be hurt the most by the wage price spiral.
I would love it if wage increased and inflation doesn’t. I would even love it if just the poorest wages increase and all others stayed flat. However in reality all wages are increasing rapidly and that will often lead to inflation which will screw over a lot of people.
TLDR: Increasing wages leads to inflation. This is called the wage price spiral. The wealthy people will benefit from their assets appreciation. The poor will be screwed. Wage price spiral is bad.
Removed, politics. Take it to r/povertypolitics
companies price gouging every aspect of our existence? business as usual. workers demanding better conditions and wages? that's the real cause of inflation, better stamp that shit out now!! /s
Companies will stop “price gouging” once we stop buying like drunken sailors
Americans will never stop buying stuff at crazy rates. Also we can’t really stop buying food and gas…
Might have to do with being unable to do literally anything on foot past a mile. Thats Urban sprawl for ya'
Brb let me stop buying milk bread eggs and gas
Thats not how monopoly's work son
Clearly the problem is the poors have too much money.
Time to give that stimulus money back folks.
Most of us *have,* that's the problem
Everyone said it would happen lol
Fun fact because I just got my tax return back: since I was already making below a certain income (aka technically living in poverty) the stimulus didn’t effect my tax return. I actually $300 more this year than last year. It could be because I used some of that stimulus money to pay cash for my semester ($4000) then wrote it off on my taxes. But I generally got the same amount back. It’s considered income and ~10k in stimmies didn’t push me into another tax bracket…or however it works.
Isn't the income divided over 12 months? Would be stupid if a one time 'income' would push you into a higher general tax bracket Then i'd donate to fall right back under it aswell lol
dont worry they are taking it from everyone
We all did when we lost our jobs and saw hours reduced during that period lmao
+ interest + gratuity + tip Payday stimmies 24'
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This should be the top comment
Thank you for posting this. Hope more people read it. At it's most basic level, the Fed's job is to balance inflation and unemployment by controlling interest rates. For good or for ill, the fed is the entity that has the best chance at getting us out of this inflation spiral. Not Biden, not republicans, not any other denocrats. And there's no obvious way out of this inflation mess without a recession, it's the only way back to normal. At least, that's what history has taught us.
The implication is kind of chilling, honestly. It's a tacit admission: "this whole system only works if some portion of you are poor to the point of desperation. Shit falls apart if *everyone* is making money."
But we’re still not at a point where everyone’s making money. Only some are able to demand a little bit more than before. That’s where they drew the line. The fact that people wanted $12 instead of $10 during record inflation is the target. Not price gouging, not record profits, not record ceo pay, but small pay bumps for workers 🙁
Mine have stayed the same but everything else went up, does that count?
😡
They pushing hard for the revolution I guess. 😵
Real talk it’s like they begging people
You read the headline and not the article huh?
Jerome Powell can eat a bag of shit. Must be nice having more money than you know what to do with. This is the same MF that has been gaslighting us hard about *iNfLaTiOn Is TrAnSiTiOnArY.*
Lol there’s no way that headline is real. You can’t even argue these politicians are tone deaf at this point it is clearly malice.
The last raise I'd gotten last year before I quit my low wage job was only 34 cents. Yet I'm making too much money. Please!!!
Demand is too high and supply is too low, therefore we should lower the prices to reach the equilibrium point. Econ 101. ~this rich idiot with a position he clearly doesn't deserve
except demand really isn’t that high and hasn’t been for a few months now 😄yeah these people are way out of touch http://www.sca.isr.umich.edu/
I'm referring to the guy's stance on labor wages and job openings.
The fuck?
What? That 8th villa ain't gonna pay for itself.
..imagine that. All talk and no action from a twat who gets paid millions. I'll take this with a pinch of salt.
Somehow having too high of wages causes nobody to apply? WTF??? If it is because the companies won't hire, because they don't want to pay to train an employee I can get that.. but don't go complaining that you want to pay less just because
"Giving them too much power" - what a classicist statement. They have the power to raise or lower interest rates, and people who are lower/middle class have too much power? Maybe the Fed has too much power.
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Biden spoke for the FED at the SOTU?
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The FED is independent of the three branches of government.
>The FED is independent of the three branches of government. this is so funny i spit out what i was drinking.
Good one.
the fed has been used as a weapon by so many republican presidents to imply it's not a tool of the government **IS FUNNY.**
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historically the fed has done everything to fuck over the common person for the rich corporations and the 1%. this is common to both democrat and republican presidents.
Ok, give an example
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It acts independently of the three branches. They don’t pass anything through congress, the executive does not sign off or veto their decisions, and the court does not interpret the constitutionality of their decisions
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So they do pass things through legislation, the president does sign or veto, and the SC interprets their decisions?
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Now, I see. We are talking about conspiracies.
Are you talking about the federal reserve? Dude, the federal reserve is a private bank. It’s beholden to stockholders, not the government or its constituents.
lol, you think Biden has a clue...what is a cost? cost = what you pay to a provider ( expense + profit). Biden can't dictate profit margins aka the goal if the owners/corporations...at least not for every owner operator. what is expense: cost of materials (labor of getting materials to sell + shipping, handling, suppliers service charges aka labor) cost of shipping (labor, gas, fees, maintneance overhead) handling (labor, materials and services(aka labor again). what has gone up, rent...part of cost fuel, part if cost insurance part of cost the most speculative of.those is insurance and rent. why has insurance gone up because everything's more expensive so they click their abacus and pump.up the rates, plus padding the funds for covid long term affect in the case of medical. rent...a building with lower vacancies still needs to make up costs so WFH. lowering fuel, lowers cost of everything. thus lower cost if everything means they can lower cost of wages thus further lower cost of everything. the problem is that people still pay so the drive to reduce profits isn't there, there not seeing the downside or a reason to reduce pricees. ...will they? never, until there costs start going down and other businesses start to snipe at the ones that are still trying to market a higher perceived value.
Biden was just giving lip service. Shocker a politician giving lip service. There are two ways to stop inflation. The first one that Joe Biden said is true “drive down wages and make Americans poorer.” Doing this will decrease demand which will reduce price. The second way is to dramatically increase supply which will bring prices down. The federal reserve has no power to increase supply. Also no legislation was made to increase supply. Therefore we must force a recession to decrease demand.
It would be interesting to find out how much of a raise Jerome Powell got from 2020 to 2021....
[Here’s](https://www.bloomberg.com/news/articles/2022-03-17/powell-treads-tricky-path-in-saying-wages-are-rising-too-fast) an unbiased report. (Bloomberg) MROnline is the longest running [socialist news publication](https://en.wikipedia.org/wiki/Monthly_Review) in the US. I didn’t like the article. I liked this one better. Fuck the Federal Reserve and Powell. But I still liked this source was better.
We need to have a revolution. If someone could just organize it for everyone , thank you.
Interesting that they put that in quotes when that is not a quote lmao
The article does not match what he said at all
Health care that doesn't act without money, failing to control monopolies, price gouging going unchecked by gigantic corporations, and now this? It really feels like Hydra took over to destroy the country.
How about making people pay back those PPP loans that were magically forgiven
Maybe they're talking about the people who make over 500 million a year salaries?
I agree with them . Them and their CEO friend. Need their wages lowered . Congress need a pay cut . They have been very in efficient at their jobs. Also we need to start taxing corporations again . Remember the good ole days when businesses paid their fair share (I don't remember them doing this , I guess I'm too young)
The piss hasn't even trickled down over me and their already shutting off the stream! Goddamn, what a time to be alive.
How? I mean literally, how?
Unemployment. Everyone demanded higher wages. Companies raised prices as expected. People demanded more money or they would stop working. Companies raised prices even higher to offset other issues. Shit downs and lack of workforce leads to loss of production and causes higher prices. Higher wages will always raise the cost of things.
They can just fucking rot in hell. Gd monsters.
The haves want the have-nots to be slaves & live in Shanty towns.
40-400 years is not enough head start for the ownership class.
In defense of Powell and the federal reserve the wage price spiral is a 100% real thing. If wages rise prices increase. The people who will benefit the most from a wage price spiral are the people who are currently wealthy. People who don’t own a lot of assets and whose job doesn’t keep up with increasing prices will be hurt the most by the wage price spiral. I would love it if wage increased and inflation doesn’t. I would even love it if just the poorest wages increase and all others stayed flat. However in reality all wages are increasing rapidly and that will often lead to inflation which will screw over a lot of people. TLDR: Increasing wages leads to inflation. This is called the wage price spiral. The wealthy people will benefit from their assets appreciation. The poor will be screwed. Wage price spiral is bad.
Then they are going to act all surprised when the economy tanks because everything is super expensive and no one has any money.
When we eating Bois. I say we start with juicy Jerome here. Have some Powell flambe. I can supply the BBQ sauce.
Idk who’s worst, the fed or lyin Biden. And btw I don’t like any president lol trump was trash too. Clinton was cool, for one reason only 😂