Greedflation crisis not cost of living crisis. When companies selling the things we need to live are making obscene profits from them, compared to a few years ago, it is greed. We are being robbed.
shutting down the productive world economy
World record money printing
Government debt at all time highs in every country
Government spending still not under control
“Why would greedy corporations do this?”
We shoot ourselves in the head then blame the ant next to us for the pain in our head. “You must’ve bit me! Why would you do that?”
Didn’t british gas recently report literally 10x profits over this time last year?
Yeah, that’s what happens when you have mass money printing and someone produces a finite resource.
We’re talking about the economic laws of physics. When you blow up a balloon, do you get angry at the balloon for getting larger? No, there’s more air in there so the skin gets stretched thicker under the pressure. In the same way, you add more dollars to an economy, particularly when you’ve gone and told everyone to stop working for years, things get stretched a lot thinner and it’ll take more dollars to buy the essentially similar amount of stuff.
I don’t need to tell you about theoreticals, I can give you an example of why businesses can’t just underprice their goods. Remember during the pandemic, you couldn’t get an Nvidia graphics card for love or money? There were none in stores. Its because whether we like it or not, the cards were underpriced so scalpers came in and bought them all and resold them at the actual market price of several times the listed price. Once Nvidia repriced their cards, the scalpers tried the same thing and ended up sitting on a bunch of cards nobody wanted to buy and now you can easily find a video card in stores. (By the way, this can happen to the big companies too, if they try to price their goods too high they’ll just be sitting on inventory they can’t get rid of)
Is it unfair? If course it is. That’s the point. The government takes money from everyone and then borrows from future generations and then creates central banks and mandates that those central banks print money out of thin air to buy the debt and add more money to the system, and eventually all those dollars funnel into buying a limited amount of natural resources and productivity, and inflates stock prices, and creates big winners and big losers.
Elon Musk has a crappy little car company whose revenue isn’t a fraction of virtually any other car company. Why is he the world’s richest man? Because of all that money floating around trying to grow before the party stops.
All this was predictable and publicly predicted. Its Only politicians and central bankers who pretended it wouldn’t happen.
Corporate greed stands out as the primary driver of inflation, but in this case, does Brexit have any bearing on the matter?
