mfrybeasley
144590
2581
39
May 31, 2022 6:08 AM
mfrybeasley
144590
2581
39
IAmDuckHammer
heyletsbefriends
inflation is bullshit, its just the corporations pushing prices chasing ever-increasing profits.
MrMcCarrick
See the problem is, you said "rule". They don't really think those apply to them.
morninggloryshade777
Point, counterpoint. Call out every single REP lie every single time they spew one.
[deleted]
[deleted]
HellIsRoundTheCorner
Jerome Powell wants to cut all our wages to combat inflation. He says we make too much money, and that's the problem. Google it yall.
BearableBear
The rich don't care about you.
deathslayer4
Oh, you mean this new money that was created from nothing to pay for extreme government spending? https://fred.stlouisfed.org/series/M1SL
Jewdakris
You must also mention 69420
Creature224
That western society
acetothermus
That's a rule I can get behind.
AtomicSpatula
On one hand, kind of by design: corporations expect continuous profit growth. On the other hand, it's a problem, because it is unrealistic.
makeamericasmartagain9000
My boss: I’m to lazy to look for new ppl, I’ll just keep the current employees happy by giving them raises every now n then. Fairness is key
Jimmytheeel
Really strange how those go together. Especially right after a pandemic where corporations realized we still have to buy a lot of products.
Jimmytheeel
Regardless of their price or or income. And right after an administration that stripped 3rd party and govt oversight on corporations.
TheRealArclight
rumandbass
Housing costs went up 380% this year.
SonderingStrike
Costs are all rising, minus the cost of our labour. Demand better, and get furious. If you aren't beet red then you're not paying attention.
WeMistbornsNeedNotMakeSense
but that would drive profit down
JhericFury
Inflation: when companies all raise their prices. This could come from legitimate sources, eg a perfectly ethical business could need to/1
JhericFury
-increase their prices if their electricity bill went up. But when the company is making a profit, they're just wanting more money./2
ElDrmm
But trickle down!!??
Badger96
But when
CuntCrotchula
TsukariYoshi
Need to add kakistocracy to that.
CheekyLittleCunnnt
I like your username
tennisf
Corplutoligarchy? Now say it fast ten times as they steal your money. ??
Fastrayd
Let's refine that a bit and say.. maybe.. corruptoligarchy? Just spit balling.
cfbshank36
‘merica!!!
Creature224
Western society!!!
friendsofsandwiches
Really getting to the point of not accepting all this bullshit.
cellardoor42
What are you planning!?!.... I'm in
RadicalRecluse
friendsofsandwiches
20th or so.
HandoB4Javert
This month or week?
Ikwilstroopwaffels
So soon?
Cazzobello
CythrawlArawn
Right!? When I was younger I was like, "it's just a burger, man" Now, "it's indicative of our entire society! Fuck you!"
nanamonster
Also, the trigger, it's sensitive...
WaffleDoood
When's the revolution, again? I'm down.
Direkt4
Go kill a businessman.
Ikwilstroopwaffels
1981 I would have hoped.
nanamonster
Hammertulski
Gas prices: $5.60 here. Totally unrelated, Exxon stating in their FY22 Q1 financials that they’re keeping prices high on purpose.
Archeron
This is also in line with the WH wanting to use this opportunity to get people to shift to EVs
Frozenspokes
That's fine. It would reduce our dependance on fossil fuels.
Archeron
That was the WH's point. Not sure why I was down voted for quoting the WH...
tzahtman
I think it is coming across as blaming Biden for gas prices, like those people putting stickers on gas pumps.
SofiIre
Of course. Supply and demand. No new drilling thanks to Biden so less supply, more demand.
GamestopDorito
Oil companies stopped drilling all on their own to maximize profits. It’s called capitalism. Now go get under Exxon’s chairman’s desk.
IAmDuckHammer
Oh, I'm soory, the answer is Corporate Greed. Republicans America wants high gas prices.
Hammertulski
Go watch the Q1 investor call about the supply and demand functions and come back and apologize.
kittypoopappledrink
Noughmad
Yes, no new drilling is the cause. Because those new drilling would definitely not go to the same megacorps. /s
Frozenspokes
Literally imposing use or lose on current leases. You don't know what you are talking about. Pull your head out of Traitor Carlson's ass.
chri389
This comment makes it very obvious that you, in fact, have no idea what you're talking about. I'm sure whoever you got this "fact" from was
chri389
(2) very convincing, but you should do a better job verifying the information you choose to regurgitate.
ephankrised
Its not thanks to Biden. There are like 9000 unused drilling permits rn. If it were on Bidens shoulder, gas would only be high here you hack
Bhargo
ah yes, Biden controls all oil drilling across the globe, which is why the entire world is having gas price surging
SirButcher
New drilling would take a couple of years, and last I checked the last president was NOT Biden. Nor he is president of the world...
vicvalour
2 Years ago they couldn't give it away, don't tell me they don't have plenty
Archeron
They couldn't give it away because no one was driving due to covid and demand dropped by like 70%. Now things are going back to normal
Archeron
And supply is being out stripped by the demand.
nanamonster
I think I remeber something about that. Funny how things change when people become vulnerable
GamestopDorito
That cheap oil was all used. It isn’t sitting in a warehouse
LumpPump
from fact checks sounds like he only said no drilling on federal lands, and other things say there lots of unused permits and companies >
LumpPump
could of been drilling but just havent been.. sounds like big oil is keeping their supply low to screw us over even tho they would get >
LumpPump
plenty of profit with out faking a low supply
GamestopDorito
They’re not faking. Prices were so low a few years ago that many drill sites became unprofitable. They just don’t want to repeat that
GamestopDorito
They exist to maximize profits. If we want cheaper oil then we’ll need a national oil company, but that has its own pitfalls.
Crimx42
Taxing corporations reduces inflation
kittypoopappledrink
Instead of taxing corporations we'll encourage them to lay off enough people so they stop spending and lower inflation. What could go wrong?
SofiIre
Also decreases job growth and drives them to other countries. Economics is hard...
MKESewerRat
It is hard. However, both of those problems have their own solutions, which are favorable to everyone except profiteers.
ArdentSlacker
They do that REGARDLESS.
darkdragonempress
Oh hell you are one of those people.
dontrike
Oh sweetie......
sk0pe
It doesn't actually. Jobs are an operational cost and so immune to increases in corporate tax changes. In fact if anything higher corp /1
sk0pe
Taxes mean the impact on increasing staff salaries is proportionally lower. The largest impact of corp taxes is on dividends and stock $
Archeron
Question: How? Generally speaking, any increases in taxes for corporations are passed along to the consumer.
GamestopDorito
Taxes are passed on to the shareholders, not the consumers. Consumers won’t spend more on your product just because your profit is smaller.
sk0pe
How? That's a myth. Taxes are on profit, not revenue.
MKESewerRat
Myth. Corporations maximize profits at all times. Inflation is a result of inequality where $ don't mean the same to different people...
MKESewerRat
...Cutting wealth gaps forces "profiteers" to be more careful, and redirects production from yachts for the $$$ to housing for the $ and $$.
GamestopDorito
Production catering to the rich is not the issue. In fact, if they bought more yachts it would help the economy and the average man
MKESewerRat
"The economy" is a made-up word. You are always spending resources, and luxury items are spent resources without return.
GamestopDorito
Taxing the rich to spend on social programs helps more, obviously, but not because of yachts
MKESewerRat
We make new rules on money, and now fewer people are building yachts and more people are building homes. Where is your disconnect here?
GamestopDorito
Also, giving more to the poor necessarily worsens inflation, but inflation isn’t bad per se. It’s actually worse for the rich.
MKESewerRat
You should source your beliefs more carefully. Who told you helping the poor causes inflation?
LoneBoot
Inflation sources (currently): rising wages (8%), supply chain issues (38%), corporate profits because now they can scapegoat labor (54%)
Ihaveseenthetruthnow8888itwasrightinfrontofme
But but ..if we reduce profits...then the stock price would crash... your 401k would get obliterated..wealth will be destroyed etc etc etc
GamestopDorito
It’s not like “reduce profit” is a valid choice for any business. We need more unions to pull the profit into employees’ hands.
BEELZEB0B
The Fed continually printing out money doesn't factor into it?
ArdentSlacker
Nope, not in the slightest, because this shit's GLOBAL.
udunflame
Its global because every country raised its spending and printed money like crazy during covid
ArdentSlacker
Oooh, no. You need to remember that fox news only exists to encourage racists to be terrible. You should google more stuff.
udunflame
I dont even watch fox news, Im from Argentina we have the 2d or 3rd highest worlds inflation. I know a thing or two about inflation
JesusTararira
And printing money like there's no tomorrow surely caused no inflationary impact, right?
LoneBoot
Generally yes, but 1. You can basically treat it as a constant since we've been doing it forever. It changes the overall inflation rate >
LoneBoot
but not the ratio of contributions over the expected/typical rate 2. It depends on what happens with the money i.e. time velocity of money >
LoneBoot
it's a huge oversimplification but between COVID, Ukraine, and the dipping stock market the impact of all the additional money is minimized
JesusTararira
I live in a country that tripled it's circulating money in the last 3 years. Your current yearly inflation we have in less than a month.
WeMistbornsNeedNotMakeSense
8% rising wage probabbly isnt even for entry-level workers
ArdentSlacker
I feel like Bobby Kotick's wages skew the averages worse than Spiders Georg.
UprootedGrunt
Definitely isn't.
LoneBoot
It's not wages rising 8% it's wages causing roughly 8% of the outsized inflation. But yes: hourly, "low-skill," low-paying jobs tend to >
LoneBoot
be noticeably lower. Combine all 3 and you're hosed. This is a fun page for wage growth: https://www.atlantafed.org/chcs/wage-growth-tracker
armagetz
If you fit in that category and you haven’t seen it, my condolences. Even fast food jobs in low COL areas are paying in the 20s now.
armagetz
My company increased my employee (entry level degree or experience type job) pay by 28%.
NotMyUsualOnlineName
Not everywhere, hell, not even in most low COL places. The McD's in my town is only offering around $10-11, other fast food places aren't
NotMyUsualOnlineName
much better. Highest I've seen advertised was about $16 for a manager position, and that was at a gas station. If everyone is paying in the
NotMyUsualOnlineName
20s now, there wouldn't be a reason for people to still talk about wanting $15/hr, and yet, here we are.
itsthebarrelbombdotcom
Any recommended sources for reading up on this more?
LoneBoot
I believe it was the Economic Policy Institute that estimated the percentages for the inflation sources. >
LoneBoot
Stock buybacks should be all over financial news but I believe was most recently highlighted by JPM
armagetz
I looked at that article. I stopped when they used mid pandemic profits as their comparison to assess profit “growth” as opposed to(1)
LoneBoot
That's largely irrelevant to the stated aim of measuring contributors to inflation. There was a definite economic turnaround mid COVID. >
LoneBoot
so long as you consistently start your calculations there, then you're measuring the contributing factors during that turnaround. You'd>
armagetz
(2)prepandemic values. EPI lives up to its reputation as a generator of left wing talking points.
whatpassesforclever
“I read something a panel of experts in their field had a consensus on. It didn’t match my beliefs, so it’s clearly a liberal conspiracy.”
LoneBoot
If companies had held profits steady and we could solve just half the supply chain issues, inflation would be a respectable 2-2.5%
lcranston1930
I agree, based on my own analysis, but curious where you're getting those percentages of inflation sources from?
LoneBoot
Check out the March/April and this week's news on stock buybacks. These fuckers are buying their own dip
BaklavaWearingBalaclavaWhilePlayingBalalaikaOnBlackLava
And then they'll ask for a bailout when they fall into a death spiral as their value goes down, decreasing stock value, decreasing company..
armagetz
Profit margins on the overall S&P500 are only up a half percent in absolute terms, and 4% in relative terms. In line with historical trends
AawesomeAardvaark
During the worst pandemic in a century. Company profits should be down, we shouldn't have to endure high prices for them.
armagetz
https://www.yardeni.com/pub/sp500margin.pdf
blankunderscore
Logic and reasoning don’t work here. Imgur doesn’t have basic business knowledge
armagetz
I’d settle for just continuity of awareness. The same people who are saying now that it was unforeseeable, were running active campaigns(1)