Post AWi75hbF7Cu4WoVZ1E by jcbrand@mastodon.xyz
 (DIR) More posts by jcbrand@mastodon.xyz
 (DIR) Post #AWhwWjzHFNZ8FxRMg4 by jcbrand@mastodon.xyz
       2023-06-15T06:58:21Z
       
       1 likes, 2 repeats
       
       People saying corporate greed is the cause of the current inflation are absolutely clueless.Did corporations suddenly decide to become greedy now? Why only now?Or if they were always greedy, why is their greed suddenly causing inflation but didn't cause it earlier?The US central bank printed 3 Trillion dollars in 2020.40% of all USD was created (from nothing) in the last 3 years.THAT is a much bigger factor than anything else.Economics 101. Supply and demand.
       
 (DIR) Post #AWi2YPJ9hdtOQNurY0 by swansinflight@mastodon.nz
       2023-06-15T08:05:51Z
       
       0 likes, 0 repeats
       
       @jcbrand I didnt even realise people were saying that heh. I mean duh, if you print all that money into circulation of course that's the result. I didn't even think it was up for debate :picardfacepalm:
       
 (DIR) Post #AWi75hbF7Cu4WoVZ1E by jcbrand@mastodon.xyz
       2023-06-15T08:56:44Z
       
       0 likes, 0 repeats
       
       @swansinflight Oh yeah, they call it #greedflation and it's absolutely being used by the people responsible to deflect attention away from themselves.First it was "supply chain disruptions", then it was "Putin's war" and now it's greedy corporations.
       
 (DIR) Post #AWi7YabAE01NDDFI36 by jcbrand@mastodon.xyz
       2023-06-15T09:01:56Z
       
       0 likes, 0 repeats
       
       @swansinflight Another pet peeve of mine is the use of "record profits" to imply greediness to try and weight to the #greedflation argument.When the value of money diminishes (i.e. prices rise), then all else being equal you will automatically make record profits because you're getting more money for the same amount of goods sold (due to higher prices).It's like an employee getting an inflation adjusted pay raise.Suddenly you're making "record income"!!! But you're no richer than before.
       
 (DIR) Post #AWi7bKwescE3X6br9c by jcbrand@mastodon.xyz
       2023-06-15T09:02:27Z
       
       0 likes, 1 repeats
       
       @swansinflight Another pet peeve of mine is the use of "record profits" to imply greediness to add weight to the #greedflation argument.When the value of money diminishes (i.e. prices rise), then all else being equal you will automatically make record profits because you're getting more money for the same amount of goods sold (due to higher prices).It's like an employee getting an inflation adjusted pay raise.Suddenly you're making "record income"!!! But you're no richer than before.
       
 (DIR) Post #AWi7tlv5KN7MPDfEtE by stevenroose@x0f.org
       2023-06-15T09:05:46Z
       
       0 likes, 0 repeats
       
       @jcbrand @swansinflight Exactly. Unfortunately most media nowadays are capitalist as well, owned by the same people owning and running everything else. They set the narrative that comes in TV and in the papers. Only thing we can do about it is shout it out until they tell us were crazy 😅But eventually they'll be paying 100 USD for a coffee while we might be paying 50 sats for it.
       
 (DIR) Post #AWiFdcqU63xfGLK9h2 by swansinflight@mastodon.nz
       2023-06-15T10:32:25Z
       
       0 likes, 0 repeats
       
       @stevenroose @jcbrand people I know look at me funny when I point out "well no shit we have inflation, they printed a shitload of money to pay us while we all sat at home" and it turns out most people have no frrakn idea even vaguely how any of it works. Even correcting people that say there's too much debt "you do realise that if they print $20 and loan it to you with interest, but there's only that $20 in circulation... you have to keep borrowing money, right?"