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Inflation has created a dark cloud over how everyday Americans view the economy (www.cnbc.com)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] 31337 16 points 8 months ago (1 children)

I think the analysis I've seen showed supply-chain disruptions was the cause for most of the inflation (first covid, then Russia-Ukraine war). Then, a significant portion was from increased corporate profits (if you're being generous, you could say companies increased their margins due to future uncertainty). There's also a new trend of deniable price collusion (algorithmic collusion, such as what Amazon has been doing). M2 money supply has been decreasing for the last 1-1/2 years.

[–] C126 -2 points 8 months ago (1 children)

Inflation is a lagging indicator of an excess in currency. It takes time for all the extra cash to filter through and actually cause prices to go up. Saying it's "greed" is idiotic, because it implies companies weren't greedy before...

[–] [email protected] -2 points 8 months ago* (last edited 8 months ago)

You’re so goddamn stupid. You are literally cherry picking here.

Yes inflation rates lags behind because they need to have that data to calculate it in the first place. Furthermore Trump printing the most money ever in the history of the nation on top of corporate greed has really done a number on this country.

You say there was greed before so that can’t be it now is the dumbest goddamn thing I’ve read today. How do you think these corporate monopolies are hitting record breaking profits quarter after quarter? Do you not realize that to continue to do that you must make more and more?

But noooo, the price gouging and size decreases in the face of low/reduced economic pressure is totally not indicative of the actual primary cause here.

Then let’s think back a few years (I know that must be difficult for a moron like yourself)

What happened then? Oh right, the pandemic.

"Since wealth is a major source of future economic gains, and increasingly, of power and influence, this presages further increases in inequality," they wrote of what they called an "extreme concentration of economic power in the hands of a very small minority of the super-rich". (For a graphic on share of wealth owned by richest 10%, middle 40% and poorest 50%, see https://tmsnrt.rs/3y0tzHi)

Forbes' annual world's billionaires list this year included a record-breaking 2,755 billionaires with a combined worth of $13.1 trillion, up from $8 trillion last year. read more

The new report showed that a wider group of 520,000 adults who make up the top 0.01% richest together saw their share of global wealth hit 11% this year, up from 10% the year before. Belonging to the top 0.01% category meant having household wealth of at least 16.7 million euros ($19 million), adjusted for purchasing power parity across currencies, it said.

Analysts say some super-rich have benefited from the shift online of much of the world's economy during lockdowns, while others simply gained from rising asset prices as financial markets bet on the speed and shape of the global recovery.

Can you guess what the result would be if a very small minority that owned monopolistic capitalist empires gobbled up so much wealth and resources that they could collude on pricing without any need for it to bend with actual economic status? Do you think they will keep prices low when they are competing only with themselves?

B-but the greed was always there!!! That can’t be the cause of many of our current problems!!!!!!

Fucking goddamn idiot.