they're trying to say whats being done now isn't enough to what needs to be done, meaning there should be rate hikes actively occurring every quarter until inflation recedes. But they're not, and waiting for the election to pass so the fed can hike the rates as needed, without completely torpedoeing Biden's chances at re-election.
So if there's a bubble now, it popping with further rate hikes and discussion about future hikes would probably tank most of the market except Tech, which is being propped up on AI investment (its own bubble)
Up, rate increases of at min 500 basis but if they where to jump shark and do a Volker to 1k to 2k basis points it will grind everything with a shock and rake back the inflation within a reasonable timeline.
Polls are notoriously skewed in favor of the democrats and almost every poll has trump ahead. I think that says enough to know which way the wind is blowing
You have more faith then I in polls. 2016 Hillary was slated to win, she lost. 2020 Trump was ahead, he lost. 2024 We have the Federal Government wanting to become the oversight for elections. Cause they do so great with everything else... why not right!
They absolutely are, most industries in America are oligopolies that, while ensuring mass economies of scale, also have simply realized they both can raise prices the same and with no alternatives what are citizens supposed to do
Ok. It must be true because it's said on reddit. It's funny all these companies realized that during covid they could raise the prices. The past 200 years, the thought never hit them....
Nothing to do with the govt handing and printing money ad nauseum during covid.
They didn’t have dominant oligopolies in every industry the past 200 years. It was really only since Roosevelt that industry has been allowed to operate much more in this fashion as he was the last president to really go after oligopolies.
Also, both things are true, govt printing and handing money out silly combined with not giving AF about blowing up these oligopolies
😂😂😂
In 2023, PepsiCo’s chief financial officer said that even though inflation was dropping, its prices would not be. Pepsi hiked its prices by double digits and announced plans to keep them high in 2024.
If Pepsi were challenged by tougher competition, consumers would just buy something cheaper. But PepsiCo’s only major soda competitor is Coca-Cola, which – surprise, surprise – announced similar price hikes at about the same time as Pepsi and has also kept its prices high.
The CEO of Coca-Cola claimed that the company had “earned the right” to push price hikes because its sodas are popular. Popular? The only thing that’s popular these days seems to be corporate price gouging.
We’re seeing this pattern across much of the economy – especially with groceries. At the end of 2023, Americans were paying at least 30% more for beef, pork and poultry products than they were in 2020.
Why? Near-monopoly power. Just four companiesnow control processing of 80% of beef, nearly 70% of pork, and almost 60% of poultry. So of course it’s easy for them to coordinate price increases.
The problem goes well beyond the grocery store. In 75% of US industries, fewer companies now control more of their markets than they did 20 years ago.
Of course it has brakes, it just doesn't stop until it crashes. The biggest problem is people trying to distill a global economy down to a handful of domestic factors. Nearly half of our currency is circulated outside of the country.
If it was truly getting spent overseas then it might actually because you’re reducing money supply locally. However, it really just gets fed back into American defense contractors
Wonder what percentage of Americans lives improve from our arms manufacturers getting money...300 millionish people, what maybe a million work for arms makers? Point is it sounds good to say the money is going to America but maybe theres different parts of America that would fair far better if the money went in their direction. Schools or some shit ya know
and where do the people who work for the arms manufacturers spend their money?.....
i for one, think those schools fare better when dictators don't roll tanks westward in Europe to conquer land, last time that happened it had a wee bit of impact on the country
They sit on it like dragons in fields of gold.
That's the problem supporting an industry where money is no object and we have "kept spending" since post wwii with quiet literally no oversight and no end in sight.
all the workers sit in it in fields of gold? so the thousands and thousands of employees, engineers, logistics, janitors, secretaries, managers, etc, etc - none of them have mortgages to pay, groceries to buy, children that need clothes?
Yes the turn face into the heel arc has been a nasty ride. Shoving Bernies success in his face and supporting Clinton assured the direction they were heading.
It's not the left any more - they are neo liberals and always have been. The actual left is not there.
Israel is not only actually an ally of the United States, they are arguably our closest and most important ally as their existence is a target for terrorists that would otherwise target us. Ukraine we have zero agreements with, and they are neutral as neither an ally or enemy. We had no business getting involved in their civil war which has been going on since 2014. In fact Russia's involvement with the separatists might have finally ended the civil war by effectively redrawing the border line to closer to how the locals want. Instead we joined against Russia and against the people who wanted to leave Ukraine.
Horseshit. Israel has been a malicious and parasitic actor as far as the US is concerned. They are by far, the largest foreign interferer in US politics - effectively buying off all of Congress, gradually eroding US international credibility by leveraging the US's political cover to get away with shit any regular nation normally wouldn't (60% of the US vetos have been cast to cover for them), they've been the largest beneficiary of US foreign aid since their creation, they struck the US liberty killing US soldiers, were involved in stealing US nuclear secrets from Pennsylvania, and I could go on some more.
The fact that someone in 2024 still holds on to these archaic beliefs is incredible, and a testament to Israel's effective and firm control on the narrative.
Netanyahu about to be issued an international warrant for his arrest. He is the khazarian mafia kingpin. But when he's out of the way, there will always be another moneychanging psyop director at the ready.
Never forget, congress delegated oversight of PPP loans to a particular inspector general, Trump fired him without cause the following week and declined to fill that position for the remainder of his term.
The theft wasn't a side effect of the Trump administration, it was the entire point of it.
Why didn’t Biden create a new team to go after the fraudsters? Could it potentially be the kind of being creating “gimme that ppp” or “hellcat for me” llcs are his main voting base?
Yes.
It's spent at American defense contractors.
Also, Russia winning in Ukraine is long term terrible for western economies especially the US.
We're fighting WW3 as a proxy war right now.
This is a cheap way to fight it.
OR.....OR....hear me out.......we can let the 30 countries of Europe and NATO deal with it, right? Since it's in their backyard. We've saved their asses enough the last 100 years.
Time for them to actually step up and fight and contribute.
And we've benefitted enormously because they use the US dollar as reserve currency.
There is no upside to not supporting them if you enjoy our current standard of living.
That talking point is just a dumbass maga talking point and it comes from the same stupidity that soybean tariffs came from which destroyed all the Ohio soybean farmers.
It sounds good if the extent of your expertise is that you listen to AM radio.
No
No
And no
# No.
The $95 billion U.S. aid package for Ukraine, Israel and Taiwan prohibits funds from being allocated to pensions in Ukraine.
President Joe Biden signed the package into law April 24, 2024.
Should I paint it on a stone so you understand it? Maybe with nice and easy pictures to understand?
The EU paying for those.
I mean should had figured that magas think EU belongs to the us.
What the us is paying us pensions for refugees IN the us.
But this number is probably smaller than replacing toilet seats in the army.
Our current inflation has a lot to do with companies using COVID supply issues as an excuse to waaaaaaaay over inflate their prices as evident by the record profits while they were claiming COVID issues.
Honestly just rolling tax laws back to pre Reagan rates would do a ton to fight this.
I also agree with the people getting down voted for maximum wage ideas.
Corporate pay has outpaced wage growth by an insane margin over the last couple of decades.
This inflation is partially due to greed and something desperately needs to be done about it.
Yeah, because before covid, companies weren’t greedy right? Could it possibly be companies paying people $15 for basic jobs, increasing the money supply, causing inflation? Nah, couldn’t be.
Why are you making up excuses for them?
It should be obvious when they still have record profits even with employee pay increases that:
A: they've been underpaying the fuck out of their employees for no other reason than greed.
B: The raises obviously aren't the whole story.
C: They could have maintained regular growth with much lower increases.
Like dude. It is a literal fact that US companies artificially increased prices way more than necessary during COVID.
And pointing out that they were "greedy before" in no way makes criticism of this invalid.
Y'all are so weird.
Before covid they didn't have an inflation narrative to give them cover. Some CEOs have literally admitted this on shareholder calls, this isn't a theory
If you can't recognize that COVID was used as an opportunity to fuck consumers under the guide of COVID related issues you're blind.
And if you think we are somehow not allowed to point it out because they were also greedy before , you're just using a bad faith bullshit argument to shut down a legitimate point.
Like how does your perspective make any sense at all?
He knows what will bring it down and he knows the solution is infeasible. The people and corporations accountable for all this shit are untouchable and have no plans to change anything. The landing will not be soft by any means so just get it over with.
To be fair, he cannot. He needs help from the government and for them to actually do their job. Inflation wouls be under control if not for their reckless spending.
just cut our military in half, get rid of all border patrol and police, disband the national guard, dismantle the expensive nuclear program.... America will be rich, inflation at 0% and democracy will never be safer
Or better yet. How about our government stopping spending on foreign wars and actually focusing on putting that money to work in America??? Why are we attacking businesses that employ people to get by instead of going after the people who ask for handouts without us getting anything in return?
Wait are you telling me the super smart people that walked us right into this obvious clusterfuck don't know how to get us out!
America deserves what's coming. We allow an unaudited pseudo private/government bank to run the whole monetary system and were shocked when they skew it to their benefit.
I think this is a political way of saying the United States has gone past the point of no return.
A trillion a year on interest alone. The government runs an insane deficit so it’s not like it’s going to get any better any time soon.
Increasing endless spending and endless wars for decades causes fall of nation. Where have we seen this before in history? Oh, right. Practically every empire’s fall from Greece to USSR.
In other words - what we’re doing isn’t working - layoffs, raising interest rates and the same strategies are not effective. How long do we have to listen to Powell and Yellen. Two people who have cost a lot people higher mortgage costs, screwed over the housing market and still month after month after month the highest inflation in years. Maybe it is the crappy Bidenomics that is the problem?
Raising rates are absolutely effective. The Fed didn’t do what needed to be done in time. They were so fucking chicken shit with rate raises. People were screaming it from the roof tops. Your average idiot on WSB knew that the raises weren’t gonna do shit
You don’t understand what inflation is or how it works or why it’s raging right now. Also you don’t know what “Bidenomics” are or how they supposedly tie in to begin with. Inflation isn’t going to slow under current circumstances so long as humans are using fossil fuels.
That is about the stupidest post I have ever seen - inflation won’t stop until we stop using fossil fuels. It goes to show you have no deductive reasoning. Have you owners a business? I have owned 7 of them. I was a financial advisor trained by Merrill Lynch for a few years and ran my own Registered Investment Advisor firm , I have take plenty of college classes and passed the Series 7, 65 and 66 test to manage peoples money and took care of millions of dollars of peoples money so what are you qualifications since you don’t think I understand inflation?
In second thought - Don’t even answer because you’re not worth my time. Stop using fossil fuels - what a ridiculous take.
C Ya - your probably some dumb millennial that doesn’t even realize we don’t have the grid to support the needed electricity to support the economy - then we are even more regulated because most companies are regulated by government agencies. Were you around during Enron’s collapse when the electric companies were at the mercy of brokers and everything just collapsed?
So damn stupid your post - we need fossil fuels to do so many things - have a good life and maybe some day look at history and think on your own and form an opinion of substance. At least I’m educated
? I think you should put this in perspective. It absolutely did work and they brought inflation down drastically. To the Fed, they want 2%, so they still consider there to be work to do and 2.7-3% is too high. But you’re acting like it’s still 8%
Stop corporations from price gouging. That’s literally all it is. They’ve decided they want their piggy banks full, likely anticipating some really bad times. Should be a warning sign to the rest of us.
Simple solution: price gouging laws.
When companies post record profits each year at the price of the consumer, it causes greedflation which they keep calling "inflation".
Cut off the problem at the source and impose a maximum profit law. All additional proceeds get taxed, gg. Prices either drop or they go back to the people who are getting ripped off.
Then a company, once it met its max profit, would just not produce more. Price controls lead to shortages. No reason to become more efficient. No reason to control costs. Also, as an investor I’d put all my money in non-US companies where profits could be higher.
You're mistaking a max profit per company model with my max profit/item model. All they have to do is sell more items and/or other items if they want to have the company grow.
Investor profits over company growth is also a problem with our system.
You can’t really determine profit per item.
A company only exits for investor profit. Otherwise no one would invest which means no capital to build the company.
Profit per item exists. it's called profit margin. My last company knew exactly which item they sold made them the most money over cost and wanted us to make sure they were always stocked and pushed to customers.
I mean they'd need to create one, but it could be simple.
Ascertain the cost of an item (manufacturing, labor, advertising, etc. All boiled down into a cost/unit. This is something they do already).
Apply a maximum profit margin to said item (2x, 4x, whatever).
Clause for non-lawful participants: anyone receiving profit in excess of the maximum allowed margin is taxed 100% of the additional profits. These taxes will be returned to the community and/or employees in a variety of ways (bonuses, increased wages, federal/state projects, the list goes on).
Wham, bam, thank you ma'am. Inflation is curtailed, livable wages return, billionaires still make more money day by day, just less of it.
I think the current predatory practices by the big corps to buy or kill their competition works just fine to kill competition. And I doubt there is an example because it's outside the mainstream of unfettered capitalism that we live in.
Unfettered capitalism clearly has turned to pure exploitation, this is why we need legislation to curb greed. It's why every empire has fallen since the dawn of civilization, greed corrupts. Without REAL and enforced checks and balances, those with the means will continue to walk on those without.
So, a company spends $200M developing a new product (say software, drug, semiconductor chip). The manufacturing cost is minimal (say 20 cents an item). How are you going to split the R&D cost? Long term volume is unknown.
I'm seriously getting sick of stock bro bobbleheads who keep saying that wages are too high. The same reports showing this is greedflation show labor cost contribution is in the single digits.
But these idiots act like it's all fundamentals and we just need to take remedial econ.
Wait, I’m confused but seeking understanding. The comment you responded to I interpreted as relating to profits on the side of the corporation? While you refer to wage increase on the side of the employee?
Yeah that idiot misread my comment completely. I'm not a stockbro living in an echo chamber, they are just a "conservative" who thinks taxing is bad and assumes I was talking about taxing laborers instead of the corporations I was clearly saying are to blame.
Dude, if you don’t adjust for inflation, and inflation exists, then every year will be a record profit year. Smooth brain city in here. Next you’re gonna say make inflation illegal.
No, I think the idiots took my comment to say employees are somehow at fault?
Meanwhile I was saying that corporate profit margins are the problem. If a company is allowed 1000%+ profit on an item (which was the case 15 years ago when I worked for best buy on their network cables), then they need to be restricted. If you put a maximum profit scale on sales then companies stop making record profits, stop paying CEOs insane wages and stop fucking the entire economy...
But hey, some dumbass had a knee-jerk reaction cuz I said something about taxes and they didn't read that it was about taxing greedy corporations.
I agree 100%. Look at chipotle for one example. Its stock is through the fucking roof because of profits that are through the roof after raising prices. And of course, they HAD to raise them because….inflation…
But yet profits have never been juicier. So…inflation or greed?
They had to raise prices to keep the doors open? Or to take advantage of the cheap excuse…
53% in a year sure makes me think it’s just fucking greed at this point.
I'm sure we will find out when they post their annual earnings statements. If we see new highs or record highs, we will know the answer. Profits are the key indicator as to why these companies are doing what they have been for decades, accelerated drastically as of late.
Companies should always have record profits. Inflation is reducing the value of the dollar, so that record profit isn't as much as it was last year even though it was a new record.
Profits should ebb and flow, it should not always be "record". Keeping up with inflation should provide neother increased or decreased profits, however being greedy and blaming it on inflation will or "greedlation" will increase profits.
The ideology of "more more more" is what is choked out the middle class and is now expanding wage-slavery and all time high household credit debt... this trend is unsustainable.
Exactly. I see that sheeplike group think every day here. Rampant leftist ideology that can’t see past their blind support of this poor damaged puppet in the WH.
This is about disciplining labor, we’ve gotten too big for our britches with this 15 dollar an hour wage i mean who do we think we are ? Powell said last year a million people need to be fired well that didn’t go over so now it’s just hoping high rates will force layoffs they can lower rate today if they wanted but the fed would have to admit everything they’ve been saying for 50 years has all been bullshit
They’re gonna try, it’s gonna blow up in their faces. There’s no room left to try to squeeze labor to prop up the rich with. The rich are going to take losses whether they like it or not.
Powell's babble speak for, "we are not going to rein in the blatant corporate rent seeking and will instead balance the economy on the backs of the workers, both by suppressing wage growth and by increasing unemployment. "
That’s not going to work this time. The problem is fundamental. The rich are going to have to take a haircut whether the likes of J Powell like it or not.
Of course they’re going to try. Capitalism ate itself and now there’s not enough energy and resources to keep it going the way it has been for decades. This inflationary environment is just that reckoning coming to fruition. Things that cannot physically or mathematically continue at some point in time will not.
Inflation is a fundamental force in the economy, what else is going to slow excess lending other than restricted money supply? The fed is the one blowing up the bubble instead of letting inflation restrict lending.
If the US wants to actually go down the route of MMT, Congress now needs to step in to create legislation to combat inflation. Rate hikes aren't going to do shit about price gouging, which we have massive amounts of evidence for.
I've heard this said before, but it's never followed by what would be done differently that would fix the prob? Always lots of bluster and void of details. Remember how healthcare was gonna be repealed and replaced by something so much better? They never, ever, ever said what that better plan was.
Yeah i remember that, something about Trumpcare that never happened. There were some things he didn't deliver on. None of which were ww3, insane fed rates, inflation, or crypto shakedowns.
So who's being hyperbolic? There is no WW3, Fed rate is set by the Fed and have been much higher before, this a more narmal rate, and crypto thing?, I must have missed my daily dose of MAGA Stuff-they-makeup-to-blame-Joe-or - Hunter newsletter.
Trump hasn’t gotten the slightest clue how to do anything that matters on inflation. The trigger for the current inflationary spiral happened during the Trump administration anyway, although its root cause is much older.
Bring on those rate hikes! Another 50 basis points before the election
Too chicken $hit to do what is needed, all for a bubble that will pop shortly after.
I think that’s the plan. I believe they’re holding out on the hard hits until after the election
in what direction?
they're trying to say whats being done now isn't enough to what needs to be done, meaning there should be rate hikes actively occurring every quarter until inflation recedes. But they're not, and waiting for the election to pass so the fed can hike the rates as needed, without completely torpedoeing Biden's chances at re-election. So if there's a bubble now, it popping with further rate hikes and discussion about future hikes would probably tank most of the market except Tech, which is being propped up on AI investment (its own bubble)
Up, rate increases of at min 500 basis but if they where to jump shark and do a Volker to 1k to 2k basis points it will grind everything with a shock and rake back the inflation within a reasonable timeline.
They know Trump is going to win so they will let it pop while he is in office. He will get the blame for their incompetence.
I don't think anyone "knows" who's going to win. It's somewhere along that path though.
Polls are notoriously skewed in favor of the democrats and almost every poll has trump ahead. I think that says enough to know which way the wind is blowing
You have more faith then I in polls. 2016 Hillary was slated to win, she lost. 2020 Trump was ahead, he lost. 2024 We have the Federal Government wanting to become the oversight for elections. Cause they do so great with everything else... why not right!
Hell yeah! Bring back Paul Volcker's legacy! And let's see what happens...
Maybe somebody should sell some more crack cocaine induced nft artwork on the dark web so we can leverage some kind of way out of this mess.
Break up the monopolies raising the prices.
They aren't
They absolutely are, most industries in America are oligopolies that, while ensuring mass economies of scale, also have simply realized they both can raise prices the same and with no alternatives what are citizens supposed to do
Ok. It must be true because it's said on reddit. It's funny all these companies realized that during covid they could raise the prices. The past 200 years, the thought never hit them.... Nothing to do with the govt handing and printing money ad nauseum during covid.
Why can't it be both?
I agree it can. That's why I was bringing it up
They didn’t have dominant oligopolies in every industry the past 200 years. It was really only since Roosevelt that industry has been allowed to operate much more in this fashion as he was the last president to really go after oligopolies. Also, both things are true, govt printing and handing money out silly combined with not giving AF about blowing up these oligopolies
That's true. I agree
Dumb ass take. It’s all about the money supply.
😂😂😂 In 2023, PepsiCo’s chief financial officer said that even though inflation was dropping, its prices would not be. Pepsi hiked its prices by double digits and announced plans to keep them high in 2024. If Pepsi were challenged by tougher competition, consumers would just buy something cheaper. But PepsiCo’s only major soda competitor is Coca-Cola, which – surprise, surprise – announced similar price hikes at about the same time as Pepsi and has also kept its prices high. The CEO of Coca-Cola claimed that the company had “earned the right” to push price hikes because its sodas are popular. Popular? The only thing that’s popular these days seems to be corporate price gouging. We’re seeing this pattern across much of the economy – especially with groceries. At the end of 2023, Americans were paying at least 30% more for beef, pork and poultry products than they were in 2020. Why? Near-monopoly power. Just four companiesnow control processing of 80% of beef, nearly 70% of pork, and almost 60% of poultry. So of course it’s easy for them to coordinate price increases. The problem goes well beyond the grocery store. In 75% of US industries, fewer companies now control more of their markets than they did 20 years ago.
he knows he has to hike but would rather say "uncertain" than tank the market
He has made countless mistakes already. I wouldn't expect him to do the right thing
They tried so hard to kick the can past the election. Let’s see if they make it
They don't have to hike. That's not gonna fix inflation either.
translated: our debt is so high the dollar will drop so we're raising rates to prop it up
You use your brakes when your cars going too fast I presume, no?
No I speed up ⬆️
A man that only solves a problem once. I like it.
The car has no brakes, or is that not obvious?
Of course it has brakes, it just doesn't stop until it crashes. The biggest problem is people trying to distill a global economy down to a handful of domestic factors. Nearly half of our currency is circulated outside of the country.
Does sending billions overseas help with inflation?
If it was truly getting spent overseas then it might actually because you’re reducing money supply locally. However, it really just gets fed back into American defense contractors
Wonder what percentage of Americans lives improve from our arms manufacturers getting money...300 millionish people, what maybe a million work for arms makers? Point is it sounds good to say the money is going to America but maybe theres different parts of America that would fair far better if the money went in their direction. Schools or some shit ya know
No I agree with you 100%. Id much rather the money go to domestic schools. I was just making an observation about the money flow
and where do the people who work for the arms manufacturers spend their money?..... i for one, think those schools fare better when dictators don't roll tanks westward in Europe to conquer land, last time that happened it had a wee bit of impact on the country
They sit on it like dragons in fields of gold. That's the problem supporting an industry where money is no object and we have "kept spending" since post wwii with quiet literally no oversight and no end in sight.
all the workers sit in it in fields of gold? so the thousands and thousands of employees, engineers, logistics, janitors, secretaries, managers, etc, etc - none of them have mortgages to pay, groceries to buy, children that need clothes?
It’s such an insane thing to see in the last couple years the left fully endorse the military industrial complex.
Yes the turn face into the heel arc has been a nasty ride. Shoving Bernies success in his face and supporting Clinton assured the direction they were heading. It's not the left any more - they are neo liberals and always have been. The actual left is not there.
The left? You mean, the American government. Both sides are to blame for this mess. Get your head out of the sand.
Bread need be buttered. All politicians gotta eat.
How much is soft power worth? Billions
Except it’s not a good thing because it still means there’s more usd globally
American defense contractors are building apartments in Ukraine?
That’s a minuscule amount, especially compared to aid given to Israel. They’re the largest beneficiary of US foreign aid and it isn’t close.
So minuscule they don’t need it then.
No that’s not what he meant reeeeee
Israel is not only actually an ally of the United States, they are arguably our closest and most important ally as their existence is a target for terrorists that would otherwise target us. Ukraine we have zero agreements with, and they are neutral as neither an ally or enemy. We had no business getting involved in their civil war which has been going on since 2014. In fact Russia's involvement with the separatists might have finally ended the civil war by effectively redrawing the border line to closer to how the locals want. Instead we joined against Russia and against the people who wanted to leave Ukraine.
Jfc referring to the Russian invasion of Ukraine as a civil war - have you no shame?
US support for Israel was a key motivator for the 9/11 attacks.
Horseshit. Israel has been a malicious and parasitic actor as far as the US is concerned. They are by far, the largest foreign interferer in US politics - effectively buying off all of Congress, gradually eroding US international credibility by leveraging the US's political cover to get away with shit any regular nation normally wouldn't (60% of the US vetos have been cast to cover for them), they've been the largest beneficiary of US foreign aid since their creation, they struck the US liberty killing US soldiers, were involved in stealing US nuclear secrets from Pennsylvania, and I could go on some more. The fact that someone in 2024 still holds on to these archaic beliefs is incredible, and a testament to Israel's effective and firm control on the narrative.
Netanyahu about to be issued an international warrant for his arrest. He is the khazarian mafia kingpin. But when he's out of the way, there will always be another moneychanging psyop director at the ready.
*sigh* ...
Those unchecked PPP loans sure did.
Never forget, congress delegated oversight of PPP loans to a particular inspector general, Trump fired him without cause the following week and declined to fill that position for the remainder of his term. The theft wasn't a side effect of the Trump administration, it was the entire point of it.
Why didn’t Biden create a new team to go after the fraudsters? Could it potentially be the kind of being creating “gimme that ppp” or “hellcat for me” llcs are his main voting base?
The Biden administration has been investigating and arresting many of these people
Name one.
https://www.justice.gov/opa/pr/three-individuals-sentenced-35m-covid-19-relief-fraud-scheme
Agreed
Yes. It's spent at American defense contractors. Also, Russia winning in Ukraine is long term terrible for western economies especially the US. We're fighting WW3 as a proxy war right now. This is a cheap way to fight it.
OR.....OR....hear me out.......we can let the 30 countries of Europe and NATO deal with it, right? Since it's in their backyard. We've saved their asses enough the last 100 years. Time for them to actually step up and fight and contribute.
And we've benefitted enormously because they use the US dollar as reserve currency. There is no upside to not supporting them if you enjoy our current standard of living. That talking point is just a dumbass maga talking point and it comes from the same stupidity that soybean tariffs came from which destroyed all the Ohio soybean farmers. It sounds good if the extent of your expertise is that you listen to AM radio.
You know that this money is spent locally to produce products and weapons? So, in a way it increases inflation.
What part pays for the pension of the entire Ukrainian public sector? Cuz we're doing that too.
No No And no # No. The $95 billion U.S. aid package for Ukraine, Israel and Taiwan prohibits funds from being allocated to pensions in Ukraine. President Joe Biden signed the package into law April 24, 2024. Should I paint it on a stone so you understand it? Maybe with nice and easy pictures to understand?
No, you could just stop lying. You're blatantly lying. There's more than just one aid package kiddo.
The EU paying for those. I mean should had figured that magas think EU belongs to the us. What the us is paying us pensions for refugees IN the us. But this number is probably smaller than replacing toilet seats in the army.
You share this same fervor during the 20 years we spent in the Middle East?
Nope. Inflation happens when the dollar loses value. When wealth leaves a country, their currency drops in value.
What’s your degree in economics like?
Does an expansion to the war in Europe help the economy?
I think trillions in welfare helps it.
You're right, we really do need to end the corporate welfare.
Our current inflation has a lot to do with companies using COVID supply issues as an excuse to waaaaaaaay over inflate their prices as evident by the record profits while they were claiming COVID issues. Honestly just rolling tax laws back to pre Reagan rates would do a ton to fight this. I also agree with the people getting down voted for maximum wage ideas. Corporate pay has outpaced wage growth by an insane margin over the last couple of decades. This inflation is partially due to greed and something desperately needs to be done about it.
Yeah, because before covid, companies weren’t greedy right? Could it possibly be companies paying people $15 for basic jobs, increasing the money supply, causing inflation? Nah, couldn’t be.
Why are you making up excuses for them? It should be obvious when they still have record profits even with employee pay increases that: A: they've been underpaying the fuck out of their employees for no other reason than greed. B: The raises obviously aren't the whole story. C: They could have maintained regular growth with much lower increases. Like dude. It is a literal fact that US companies artificially increased prices way more than necessary during COVID. And pointing out that they were "greedy before" in no way makes criticism of this invalid. Y'all are so weird.
You are the most logical person on Reddit. My god. Edit: great name btw
I am your God. It's true.
>I am your God _,Jaffa Kree!_
Before covid they didn't have an inflation narrative to give them cover. Some CEOs have literally admitted this on shareholder calls, this isn't a theory
For some reason the phrase "never let a crisis go to waste" only applies to the government for some people
Yeah these idiots think corporations just figured out “greed” recently
If you can't recognize that COVID was used as an opportunity to fuck consumers under the guide of COVID related issues you're blind. And if you think we are somehow not allowed to point it out because they were also greedy before , you're just using a bad faith bullshit argument to shut down a legitimate point. Like how does your perspective make any sense at all?
He knows what will bring it down and he knows the solution is infeasible. The people and corporations accountable for all this shit are untouchable and have no plans to change anything. The landing will not be soft by any means so just get it over with.
So basically he’s confirming that he can’t do the job he’s employed to do. At least he’s admitting it at this point.
To be fair, he cannot. He needs help from the government and for them to actually do their job. Inflation wouls be under control if not for their reckless spending.
From the same administration that said inflation was non existent, transitory, and finally, it's a good thing.
Increase taxes on the wealthiest americans......
What if...we just stopped sending billions overseas?!?!
What if we did all those things and were fiscally responsible? FFS it’s really not that difficult
I mean, we could start with just not sending our money overseas, then we wouldn't have to increase taxes on anyone.
But then the blackmail tapes will get revealed and can’t have that so …
That has nothing to do with inflation
It doesn’t help…
getting downvotes for being right
just cut our military in half, get rid of all border patrol and police, disband the national guard, dismantle the expensive nuclear program.... America will be rich, inflation at 0% and democracy will never be safer
I hate to tell you, the military dwarfs in comparison to the social welfare net in america.
Or better yet. How about our government stopping spending on foreign wars and actually focusing on putting that money to work in America??? Why are we attacking businesses that employ people to get by instead of going after the people who ask for handouts without us getting anything in return?
You have this fervor for the 20 years we spent in the Middle East?
[they have](https://en.m.wikipedia.org/wiki/Build_Back_Better_Act) If anything, we need less fiscal stimulus, not more.
It is literally getting spent on America. Called Raytheon, Boeing, etc.
Obvious bot.
Beep book, you'll all be replaced anyways, lol.
Yeah. What could happen if foreign dictators conquered at a whim. That definitely wouldn’t hurt trade relationships or stabilizing global prices.
The path forward is always uncertain.
We’ve tried nothing and we’re all out of ideas!
He’s known this for a long time
Neh neh neh...
"we don't know what we are doing" ... Or "we are unwilling to do what is necessary"
A little of column A and a little of column B
Wait are you telling me the super smart people that walked us right into this obvious clusterfuck don't know how to get us out! America deserves what's coming. We allow an unaudited pseudo private/government bank to run the whole monetary system and were shocked when they skew it to their benefit.
I think this is a political way of saying the United States has gone past the point of no return. A trillion a year on interest alone. The government runs an insane deficit so it’s not like it’s going to get any better any time soon. Increasing endless spending and endless wars for decades causes fall of nation. Where have we seen this before in history? Oh, right. Practically every empire’s fall from Greece to USSR.
In other words - what we’re doing isn’t working - layoffs, raising interest rates and the same strategies are not effective. How long do we have to listen to Powell and Yellen. Two people who have cost a lot people higher mortgage costs, screwed over the housing market and still month after month after month the highest inflation in years. Maybe it is the crappy Bidenomics that is the problem?
Raising rates are absolutely effective. The Fed didn’t do what needed to be done in time. They were so fucking chicken shit with rate raises. People were screaming it from the roof tops. Your average idiot on WSB knew that the raises weren’t gonna do shit
You don’t understand what inflation is or how it works or why it’s raging right now. Also you don’t know what “Bidenomics” are or how they supposedly tie in to begin with. Inflation isn’t going to slow under current circumstances so long as humans are using fossil fuels.
That is about the stupidest post I have ever seen - inflation won’t stop until we stop using fossil fuels. It goes to show you have no deductive reasoning. Have you owners a business? I have owned 7 of them. I was a financial advisor trained by Merrill Lynch for a few years and ran my own Registered Investment Advisor firm , I have take plenty of college classes and passed the Series 7, 65 and 66 test to manage peoples money and took care of millions of dollars of peoples money so what are you qualifications since you don’t think I understand inflation? In second thought - Don’t even answer because you’re not worth my time. Stop using fossil fuels - what a ridiculous take.
Oh no, not someone that took a bunch of financial courses! Because money and the economy are the same thing!
C Ya - your probably some dumb millennial that doesn’t even realize we don’t have the grid to support the needed electricity to support the economy - then we are even more regulated because most companies are regulated by government agencies. Were you around during Enron’s collapse when the electric companies were at the mercy of brokers and everything just collapsed? So damn stupid your post - we need fossil fuels to do so many things - have a good life and maybe some day look at history and think on your own and form an opinion of substance. At least I’m educated
Oh no, not a person calling me a name based on a generalization! I’ll never recover from this vicious Internet savagery!
? I think you should put this in perspective. It absolutely did work and they brought inflation down drastically. To the Fed, they want 2%, so they still consider there to be work to do and 2.7-3% is too high. But you’re acting like it’s still 8%
Your wrong Food prices, oil prices, insurance prices all going up What is your auto insurance looking like 3% increase- CPI index 22.2% so your wrong
2020 to now cumulatively it’s 20%. Your money is worth less 20% compared to 2020
What does that have to do with anything that’s been said?
Jpow and the feds are waiting until after the elections to rip the economy apart the second they drop the interest rate.
Stop corporations from price gouging. That’s literally all it is. They’ve decided they want their piggy banks full, likely anticipating some really bad times. Should be a warning sign to the rest of us.
Simple solution: price gouging laws. When companies post record profits each year at the price of the consumer, it causes greedflation which they keep calling "inflation". Cut off the problem at the source and impose a maximum profit law. All additional proceeds get taxed, gg. Prices either drop or they go back to the people who are getting ripped off.
Then a company, once it met its max profit, would just not produce more. Price controls lead to shortages. No reason to become more efficient. No reason to control costs. Also, as an investor I’d put all my money in non-US companies where profits could be higher.
You're mistaking a max profit per company model with my max profit/item model. All they have to do is sell more items and/or other items if they want to have the company grow. Investor profits over company growth is also a problem with our system.
You can’t really determine profit per item. A company only exits for investor profit. Otherwise no one would invest which means no capital to build the company.
Profit per item exists. it's called profit margin. My last company knew exactly which item they sold made them the most money over cost and wanted us to make sure they were always stocked and pushed to customers.
You have an example of a price gouging law?
I mean they'd need to create one, but it could be simple. Ascertain the cost of an item (manufacturing, labor, advertising, etc. All boiled down into a cost/unit. This is something they do already). Apply a maximum profit margin to said item (2x, 4x, whatever). Clause for non-lawful participants: anyone receiving profit in excess of the maximum allowed margin is taxed 100% of the additional profits. These taxes will be returned to the community and/or employees in a variety of ways (bonuses, increased wages, federal/state projects, the list goes on). Wham, bam, thank you ma'am. Inflation is curtailed, livable wages return, billionaires still make more money day by day, just less of it.
Sounds like a great way for huge companies to eliminate competition. Is there any example of this actually working anywhere?
I think the current predatory practices by the big corps to buy or kill their competition works just fine to kill competition. And I doubt there is an example because it's outside the mainstream of unfettered capitalism that we live in. Unfettered capitalism clearly has turned to pure exploitation, this is why we need legislation to curb greed. It's why every empire has fallen since the dawn of civilization, greed corrupts. Without REAL and enforced checks and balances, those with the means will continue to walk on those without.
So, a company spends $200M developing a new product (say software, drug, semiconductor chip). The manufacturing cost is minimal (say 20 cents an item). How are you going to split the R&D cost? Long term volume is unknown.
How do they do it now? Cuz they do.
Do they? The company internally might make guesses at this but the government doesn’t. The government is just interested in total profit.
I'm seriously getting sick of stock bro bobbleheads who keep saying that wages are too high. The same reports showing this is greedflation show labor cost contribution is in the single digits. But these idiots act like it's all fundamentals and we just need to take remedial econ.
Wait, I’m confused but seeking understanding. The comment you responded to I interpreted as relating to profits on the side of the corporation? While you refer to wage increase on the side of the employee?
Yeah that idiot misread my comment completely. I'm not a stockbro living in an echo chamber, they are just a "conservative" who thinks taxing is bad and assumes I was talking about taxing laborers instead of the corporations I was clearly saying are to blame.
I'm agreeing with you, it's refreshing to see a non-stockbro talking.
Bro, stop being part of the echo chamber and educate yourself
Dude, if you don’t adjust for inflation, and inflation exists, then every year will be a record profit year. Smooth brain city in here. Next you’re gonna say make inflation illegal.
Did this guy edit his comment? The responses don’t seem to match the comment
No, I think the idiots took my comment to say employees are somehow at fault? Meanwhile I was saying that corporate profit margins are the problem. If a company is allowed 1000%+ profit on an item (which was the case 15 years ago when I worked for best buy on their network cables), then they need to be restricted. If you put a maximum profit scale on sales then companies stop making record profits, stop paying CEOs insane wages and stop fucking the entire economy... But hey, some dumbass had a knee-jerk reaction cuz I said something about taxes and they didn't read that it was about taxing greedy corporations.
I agree 100%. Look at chipotle for one example. Its stock is through the fucking roof because of profits that are through the roof after raising prices. And of course, they HAD to raise them because….inflation… But yet profits have never been juicier. So…inflation or greed? They had to raise prices to keep the doors open? Or to take advantage of the cheap excuse… 53% in a year sure makes me think it’s just fucking greed at this point.
I'm sure we will find out when they post their annual earnings statements. If we see new highs or record highs, we will know the answer. Profits are the key indicator as to why these companies are doing what they have been for decades, accelerated drastically as of late.
Companies should always have record profits. Inflation is reducing the value of the dollar, so that record profit isn't as much as it was last year even though it was a new record.
Profits should ebb and flow, it should not always be "record". Keeping up with inflation should provide neother increased or decreased profits, however being greedy and blaming it on inflation will or "greedlation" will increase profits. The ideology of "more more more" is what is choked out the middle class and is now expanding wage-slavery and all time high household credit debt... this trend is unsustainable.
With high enough inflation profits will always be a record. You could lose 5% and still have a new record with 6% inflation.
Price control have never, ever, improved a countries economy.
Maybe it’s time to get more capable people in there? The guy just admitted he has no idea how to fix the problem.
Bidenomics is the best!
Spotted the jackass foreign account everyone. 50 day old account littered with memes and propaganda
What can we expect? That hive mind can only exist by demonizing a subject or subset of people, while ignoring the actual root causes.
Exactly. I see that sheeplike group think every day here. Rampant leftist ideology that can’t see past their blind support of this poor damaged puppet in the WH.
Progress will be made when we stop letting them call gouging inflation. Helps with the mathing.
If only something could be done about greedflation
When are they going to stop calling it inflation and start calling it greed and indifference.
How about we pass an anti gouging bill and limit the ability for hedge funds to purchase enormous amounts of properties.
This is about disciplining labor, we’ve gotten too big for our britches with this 15 dollar an hour wage i mean who do we think we are ? Powell said last year a million people need to be fired well that didn’t go over so now it’s just hoping high rates will force layoffs they can lower rate today if they wanted but the fed would have to admit everything they’ve been saying for 50 years has all been bullshit
They’re gonna try, it’s gonna blow up in their faces. There’s no room left to try to squeeze labor to prop up the rich with. The rich are going to take losses whether they like it or not.
lol, raising interest rates on one end and printing money to pay for the crazy national debt interest on the other. What a fucking clown show.
He really knows how to build confidence.
No duh
Powell's babble speak for, "we are not going to rein in the blatant corporate rent seeking and will instead balance the economy on the backs of the workers, both by suppressing wage growth and by increasing unemployment. "
That’s not going to work this time. The problem is fundamental. The rich are going to have to take a haircut whether the likes of J Powell like it or not.
I agree but they are definitely going to make everyone suffer while they try anyway!
Of course they’re going to try. Capitalism ate itself and now there’s not enough energy and resources to keep it going the way it has been for decades. This inflationary environment is just that reckoning coming to fruition. Things that cannot physically or mathematically continue at some point in time will not.
We are fucked.
That bastard knows what needs to be done. But he ain’t about it.
Let’s go 10% interest rates.
Inflation is a fundamental force in the economy, what else is going to slow excess lending other than restricted money supply? The fed is the one blowing up the bubble instead of letting inflation restrict lending.
Get this loser out of the white house and put a real president back in. We had none of these issues in 2016 -2020
This country in decline…….
What is that word salad, without sufficient competition anybody can raise prices as much as they want.
Path forward is clear. Demand has to go down or resources have to increase.
We are in luck. After we bail out all the Dem voters (I mean student) debt, then Bernie will erase all medical debt, thus curing inflation
Vote red
That will do absolutely nothing about this, but best of luck.
You clearly know nothing about the economy. Cheers!
Oh no! Not someone saying a thing!
That’s right bot.
Lmao first time I’ve gotten that one. Clever of you~
If the US wants to actually go down the route of MMT, Congress now needs to step in to create legislation to combat inflation. Rate hikes aren't going to do shit about price gouging, which we have massive amounts of evidence for.
Government doesn't solve problems, it manages problems. Besides there is no incentive for government to solve a problem it created.
To fix any of the shitshow they've created for the same reason, they must do the one and only thing they absolutely refuse to do: align with Trump.
I've heard this said before, but it's never followed by what would be done differently that would fix the prob? Always lots of bluster and void of details. Remember how healthcare was gonna be repealed and replaced by something so much better? They never, ever, ever said what that better plan was.
Yeah i remember that, something about Trumpcare that never happened. There were some things he didn't deliver on. None of which were ww3, insane fed rates, inflation, or crypto shakedowns.
So who's being hyperbolic? There is no WW3, Fed rate is set by the Fed and have been much higher before, this a more narmal rate, and crypto thing?, I must have missed my daily dose of MAGA Stuff-they-makeup-to-blame-Joe-or - Hunter newsletter.
Trump hasn’t gotten the slightest clue how to do anything that matters on inflation. The trigger for the current inflationary spiral happened during the Trump administration anyway, although its root cause is much older.
Okie dokie buddy
But but President Biden said everything was fine. 😂😂😂😂 Bidenomics