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surprisingly critical of the houseplant-in-chief, considering it's the comPost.
of course they have to get a pointless dig in at republicans in the very first paragraph or they'd lose their job
Quote:
A conspiracy theory has been infecting the Democratic Party, its progressive base, even the White House. It’s not quite as self-sabotaging as the horse-dewormer-cures-covid false theory that swept up many Republicans last year, but it’s pretty damaging nonetheless.
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Call it “Greedflation.”
The theory goes something like this: The reason prices are up so much is that companies have gotten “greedy” and are conspiring to “pad their profits,” “profiteer” and “price-gouge.” No one has managed to define “profiteering” and “price-gouging” more specifically than “raising prices more than I’d like.”
The greedflationists argue that something fishy is afoot because companies are not merely “passing along” their higher costs; their profit margins are expanding, too. But this is exactly what you’d expect when flush customers are buying more stuff and willing to pay whatever’s necessary to get what they want. Prices and profits rise.
I'm a moderate and I brought up this criticism before. It's not 100% true in all cases the vast majority of the inflation was caused by quantitative easing and covid policy however it's been going on with smartphones for quite some time where all the companies including one plus have been charging more and more and having higher and higher margins because simply put people are willing to pay what they are charging. This is also why video cards cost so much because people are willing to pay.
Apple products have been this way for a very long time.
Bottom line if you think the product costs too much don't buy it that's what I do. I have an LG V60 phone that I paid under $400 for and it has Flagship specs for a third the price of what Samsung and Apple charge. LG stopped making smartphones so once this phone craps out in three or four years I'll have to look elsewhere.
It's people's willingness to pay that is the problem.
The best way to combat corporate greed (yes it is a thing, humans are greedy) is to stop buying stuff from those corporations. Problem solved. Is it easy? Well, it's easier than not having any money.
The US had significantly worse “core” inflation than comparable economies
It’s important to understand the broader context. Inflation has been happening across the world, caused by pandemic-related disruptions, and exacerbated this year by Russia’s invasion of Ukraine and China’s Covid-19 lockdowns. Even before the American Rescue Plan passed, “the seeds for a high-inflation environment were already planted,” said Marc Goldwein of the Committee for a Responsible Federal Budget.
But regarding the exact amount of inflation, the US stands out. And it started to stand out shortly after President Biden took office.
How much covid spending can be allocated to Biden vs Trump? I know Trump signed the Cares Act and that was a tremendous amount of spending that still continues. I dont really know all the spending happening and who to attribute it to.
The best way to combat corporate greed (yes it is a thing, humans are greedy) is to stop buying stuff from those corporations. Problem solved. Is it easy? Well, it's easier than not having any money.
The issue is that Americans have been trained to buy at all costs. The Philosophy of America in the 21st century is: Be the consumer, be the spender, labels make the person, house size over family needs, Bigger the car the Better person you are, your ability to spend money = how valuable you are in our society, Gordan Gecko mindset all the way to the bottom.
I still remember when George W. told the American people that the best thing they could do for our economy was Spend Money.
We may also find out what happens when the country is extremely top-heavy wealth-wise and that group stops spending that wealth. It might turn into the 1930s again.
The GOP is fueling inflation every way it can. Why? The worse they can make the economy, the easier it is to blame the current administration. If they fight every positive idea or program the Democrats endorse to improve the economy, the worse the economy gets, the more blame and lies they can spread in hopes its makes Republicans look better at poll time.
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