Corporate greed, not wages, is behind inflation. It’s time for price controls.

Can somebody point me to a company or corporation anywhere in the world that doesn't charge what the market will bear? The idea that "greedy" corporations are responsible for inflation is so infantile, and so ignorant of economics, that I can't believe anyone takes it seriously.

Nixon imposed price controls in the early 1970s. They didn't work. They never do.
 

The US government jacked up the money supply in 2020 and 2021 (27% increase). Too much money chasing too few goods = inflation.

To put that in perspective, that is the biggest jump in the money supply in America’s history. That is bigger than the Financial Crisis of 2007-2008 (10%), bigger than World War II (18%), and bigger than FDR’s stimulus to fight the Great Depression (10%).

https://www.wheaton.edu/academics/a...articles/2021/understanding-the-money-supply/


Robert Reich hates capitalism, always has, and he's reliably wrong about almost everything he writes about.

Thanks!! You explained the reality of the situation very well and very accurately - better than I would have had the guts to do. Thanks again!! BTW -- I have a degree in economics. Your comments are deserving of an "A".
 
It has every basis in reality. The so-called inflation reduction act will cause even more inflation because the government is going to have to run the printing presses overtime to pay for it.
Rather than regurgitate the partisan propaganda, perhaps take a moment to understand the subject you're posting on.
Read this: fact-sheet-the-inflation-reduction
 
A windfall profits tax would be effective. It would take away incentives to raise prices just to boost profits.
Any form of Government intervention in the free market is always an economic disaster! Jimmy Carter demonstrated that on oil and gas controls. We all spent the rest of his administration waiting in line to get gasoline to drive to work!
 
We haven’t seen nothing yet. Just hang on another few months. Our recession is likely to be worse than 2009-2010. The fake news media isn’t reporting the true causes of our inflation. Too much COVID money, along with too much government spending are the likely culprits for causing this recession. We can’t keep pumping money into the economy, keep running the printing presses and people not lowering their spending. It’s a global recession at this point and we are all contributing to it. Like my neighbor told me, we are all spoiled with having too much money and buying whatever we want and not just what we need.
 
In America corporation have the ability to charge whatever they want for the goods or services they provide (with some exceptions). If a corporation is asking too much, people will not purchase their products. As an individual, if you don't want to pay the price, don't buy it, go elsewhere. That is how the free market works. (I understand that sometimes you have no other options)

The other way, many of you think is better. Is to have government step in and control how much companies can charge for goods and services. This is called Socialized market control. Russia, China, and many other countries do this. As most of you probably know, the people in those countries don't have a very robust lifestyle compared to most Americans. Additionally, in America you have the potential to improve your lifestyle, where in Socialized countries this is not always possible. (President Jimmy Carter did this with gasoline, I still remember standing in line to get some gas for my car to go to work. There were lines at all gas stations, and many gas stations ran out of gas mid-day! But it was cheap!

You either have free market capitalism or you have a Socialist government. I am not saying these two market economies are 100%. In America, some elements of our economy are socialized, controlled to variable degrees by the government (e.g., Military, Interstate highways, Airlines, etc.)

Same for Russia and China, they too have some market activities that work by supply and demand.

That being said, be careful what you wish for. If we allow our government to get more control of our economy, we may never get it back!
 
White House propaganda! Read up on Economics 101 Supply/ Demand free market economy compared to Socialization (Government Controlling the Economy)
Nice try, but I've got Economics mastered. Maybe you could use a refresher course? Have you heard of the pandemic that recently occurred? Do you have any idea how that affected the economy? How about the war in Ukraine? Stay away from the partisan propaganda, look for impartial information sources.
 
Nice try, but I've got Economics mastered. Maybe you could use a refresher course? Have you heard of the pandemic that recently occurred? Do you have any idea how that affected the economy? How about the war in Ukraine? Stay away from the partisan propaganda, look for impartial information sources.
If you think the White House (under any administration) is an impartial information source, you're very gullible.
 
Nice try, but I've got Economics mastered. Maybe you could use a refresher course? Have you heard of the pandemic that recently occurred? Do you have any idea how that affected the economy? How about the war in Ukraine? Stay away from the partisan propaganda, look for impartial information sources.
Nathan, your so called 'fact sheet' was put out by the White House Administration! So, stop reminding others how smart you are....!
 
There is a direct link between the 3rd stimmie (a bi-partisan action) and massive boost in retail spending, supply chain congestion, etc. The timing was just as the "cure" (vaccinations) was rolling out.

Quite naturally, inflation followed. The assertion that everyone is experiencing the same level of inflation, while true...obscures the fact that U.S. inflation (adjusted to EU methodology) was double the EU inflation rate back in early fall of 2021. The invasion of Ukraine drove inflation rates in Europe higher. Additionally, the stronger dollar is exporting our inflation globally, while temporarily easing inflation at home.

Everything else is political talking points. Just as putting out the release of next year's Medicare premiums 6 weeks early, as well as delaying the standard annual revisions of GDP from end of July... to tomorrow.
 
If you think the White House (under any administration) is an impartial information source, you're very gullible.
Nathan, your so called 'fact sheet' was put out by the White House Administration! So, stop reminding others how smart you are....!
Well, so we got two of the four poo flingers responding in predictable fashion, was hoping to get a complete set.

I have 2 $100 bills in my wallet that says neither one of you would have made you statements prior to January 20,2021.

Talk about not-so-smart and gullible! :ROFLMAO:
 
Rather than regurgitate the partisan propaganda, perhaps take a moment to understand the subject you're posting on.
Read this: fact-sheet-the-inflation-reduction
Oh please! The White House view of their favorite phony legislation. You have to be kidding. May as well ask the wolf if the calf he is eating tastes good. The Inflation Reduction Act is a joke.

I'll skip Conservative opinions on that abomination. Here it is from the Left -- none other than Bernie Sanders!

"Bernie admits Biden's Inflation Reduction Act WON'T bring it down and will have only a 'minimal impact' as bill passes initial Senate hurdle after Kamala broke deadlock" And more ...
https://www.dailymail.co.uk/news/ar...iamentarian-OKs-Dems-drug-price-controls.html
 
Well, so we got two of the four poo flingers responding in predictable fashion, was hoping to get a complete set.

I have 2 $100 bills in my wallet that says neither one of you would have made you statements prior to January 20,2021.

Talk about not-so-smart and gullible! :ROFLMAO:

Nathan, I keep you on ignore because a) you're not very bright and b) you're fairly unpleasant. I often disagree with people like Pepper but she is both bright and pleasant.

FYI, I did vote for the current administration and did not vote for the previous administration, either time. I don't need your money but if you want to send $100 to the charity of your choice you can keep up your end of the bet.

Back to ignore you go.
 
Oh please! The White House view of their favorite phony legislation. You have to be kidding. May as well ask the wolf if the calf he is eating tastes good. The Inflation Reduction Act is a joke.

I'll skip Conservative opinions on that abomination. Here it is from the Left -- none other than Bernie Sanders!

"Bernie admits Biden's Inflation Reduction Act WON'T bring it down and will have only a 'minimal impact' as bill passes initial Senate hurdle after Kamala broke deadlock" And more ...
https://www.dailymail.co.uk/news/ar...iamentarian-OKs-Dems-drug-price-controls.html
...a quote from the dailymail no less! :ROFLMAO:
 
I agree. And the first price to be controlled is whatever Robert Riech makes from speaking engagements, books, articles, TV appearances, etc. His fees should be cut to a maximum of 50K a year, total. That plus social security is enough for him.
 
The real problem is the inflation manufactured at 1600 Pennsylvania Ave in Washington DC.
But..... it's easier top blame big corporations. A few months ago gasoline was at record prices and we were told the oil companies could charge whatever they wanted since 'we have to have it'. Now the prices are down. How did that happen?

The biggest single cost increase in my life for 2022 is taxes and government fees. Property tax, car tabs, etc. are all up. Only sales tax is not up this year. Currently, it is over 10%. Oh, wait, the county council wants to raise prooperty taxes again to help certain people. I wonder.... could they find somewhere in the multi billion dollar budget to cut expenses? Silly me for even asking.
 
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The real problem is the inflation manufactured at 1600 Pennsylvania Ave in Washington DC.
Sadly this above is true but should also include the address of every elected representative in the Federal government also.

I see where the student loan forgiveness will cost us over 400 Billion dollars. How nice that we are all paying for the debts incurred by other people who took the money, spent it, and agreed to pay it back. Now this bunch does not think its fair. But it is fair to saddle the rest of us with the debt? IMO, it is nothing but vote buying.
 
Well, so we got two of the four poo flingers responding in predictable fashion, was hoping to get a complete set.

I have 2 $100 bills in my wallet that says neither one of you would have made you statements prior to January 20,2021.

Talk about not-so-smart and gullible! :ROFLMAO:
Nathan,
As always, lots of 'babble' no logic or facts! Move on...
 

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