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Aug 26 '24
Investor greed.
Corporations are casinos. Investors are gamblers.
Blame the ideology of individualism and neoliberalism. Corporations are footy teams. FIFA decides the rules by which they play.
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u/You_Paid_For_This Aug 26 '24
The purpose of inflation is so that they can pay you less every year without you noticing that they are giving you less dollars.
"Keeping labor costs competitive" actually means paying the workers fuck all.
Inflation isn't just a thing that happens, it's when capitalists raise their prices. Inflation isn't some natural phenomenon that nobody has control over, there's a guy with a name and a house who works at Walmart who unilaterally decides "fuck aubergines they're double the price now š". And that's how inflation happens.
Inflation is when capitalists raise prices.
They do this for one of three reasons:
There has been an increase in the price of martials (eg the price for Walmart to buy aubergines and everything else went up for some reason outside their control)
There has been an increase in the price of labor (this has never been the cause for inflation ever. Literally never. Workers are only able to negotiate wage hikes after inflation has already occurred.)
Businesses increase their prices because they want to make more profits (this is definitely the cause of this current inflation, since materials and labor hasn't increased in price and business are making record profits)
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Aug 26 '24
Almost every issue in this world leads back to corporate greed and the taxpayers always bail them out! Weird.
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u/Ambroser2 Aug 26 '24
Hmmm are you sure? because my boomer mom says āwe gotta cut government spending. Itās basic economicsā so obviously itās not the record profits!!
/s
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u/Osiris_Raphious Aug 26 '24
Yes.
But devils advocate: It has been shown that hyperinflation is helpful to balance out the economy.
But it doesn't excuse they way they do it... Like they do everything else under capitalism. Profit for them, risk on to everyone else... Aka inflation benefits the rich, and takes away from the working class. It does balance out and fix parts of economy, but as usual the wealthy owner class comes out richer, and working class pays for it...
Inflation, and the 5trillion of wealth transfer from the working to the rich/owner class since covid... yay
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u/PermiePagan Aug 26 '24
This is a huge part of it, and the Federal Reserve printing tons of money to hand to banks for almost no cost is the other half.
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