StaceyjoDec 31, 2022
Robert Reich

Last quarter, American corporations took home about 10% more than they did the same time a year ago.

Folks, price gouging is driving inflation, not wages or government spending.

Dec 30, 2022 at 11:41pmWeb
Show threadKatLSDec 30, 2022
@rbreich profiteering! The American way!
Show threadPlutusDec 30, 2022

@rbreich

@rubecube12 I agree with these points - why tightening so hard so fast and screw the consumer instead

Show threadDaniel Rubin ✅Dec 31, 2022

@rbreich @plutus

For the first time in four decades, wage in­equal­ity is fall­ing, thanks to ris­ing wages at the bot­tom, ac­cord­ing to a re­cent pre­sen­ta-tion by David Au­tor of the Mass­achusetts In­sti­tute of Tech­nol­ogy and Arindra­jit Dube and An­nie Mc­Grew, pro­fes­sor and Ph.D. stu­dent, re­spec­tively, at the Uni­ver­sity of Mass­achusetts Amherst. They find younger high-school grad­u­ates are one of the few groups com­ing out ahead of in­fla­tion.

Show threadDaniel Rubin ✅Dec 31, 2022

@rbreich @plutus

Stop the hiking. We can’t let the plebs get ahead. Think of the corporate profit margins.

Show threadDaniel Rubin ✅Dec 31, 2022

@plutus @rbreich

***sarcasm*** rates are too damn low and rent is too damn high

Show threadニルス・スキニールDec 30, 2022
@rbreich
Over-wealthy took home ten times that, I guess.
Show threadIsnyDec 30, 2022

@rbreich so what's the solution to price gouging? The business of business is to make money, and if they can maximize profit, they're doing their job.

My only recommendations are to reduce the time of copyright protection, as well as patent timing.

Show threadBadtux the Snarky PenguinDec 31, 2022
@isny @rbreich The solution to price gouging is not to cause misery to consumers, but, rather, to address the supply chain issues that are allowing the price gouging, since if not for those supply chain issues new competitors would arise to undercut the price gougers.
Show threadDavid K.Dec 31, 2022
@rbreich in jeder Debatte fällt es hinten runter: höhere Preise entstehen nicht magisch und setzen sich nicht nur aus Material- und Personalkosten zusammen. Sie werden gesetzt und die Marge eingestrichen.
Jeder erwartet kleine Preiserhöhungen? Wegen Gaspreisen und weil alle Anderen es ja auch machen? Gut, packen wir noch ein paar Prozent Marge drauf und verteilen munter nach oben.
Show threadAgent SnarkDec 31, 2022

@rbreich

Not just in America. The "joy" of multinational corporation enshittifying the life's of people all over the globe.

( I take no credit for the word enshittifying, that honor goes to Cory Doctorov )

Show threadBadtux the Snarky PenguinDec 31, 2022

@rbreich Specifically, price gouging allowed by supply chain restrictions. If not for supply chain restrictions, new entities would see the opportunity for business and undercut the price gougers.

Focusing on wages or government spending as the cause of inflation is just causing pain for consumers without doing anything to address supply-chain-driven inflation.

Show threadJohnWilsonDec 31, 2022
@rbreich totally agree… it’s always, always about the money!!
Show threadIdo AmirDec 31, 2022

@rbreich In other words, sometimes inflation isn't caused by scarcity, but by GREED.

American billionaires are exploiting hard working people, hurting people's lives, families' lives, children's lives, to inflate their already exploding bank accounts.

This is utter moral corruption.

Show threadNutriamixDec 31, 2022
@rbreich
Then why isn’t Biden, Congress, or even the Fed listening to you, or even looking at the data that supports what you say?
Show threadPrashanth MohanDec 31, 2022
@rbreich Would that not be expected (naive question - not a statement in anyway). The long term nominal market returns has been 10% yoy. Would we not expect that corporate revenue increase? How does the revenue increase for 2022 compare to previous years?
Show threadKenneth DudaDec 31, 2022

@prashmohan @rbreich Yes exactly. In an inflationary environment, how could corporate incomes not rise? Personal incomes rose as well by the way.

Corporate greed cannot possibly explain inflation, because inflation varies over time, but corporate greed is constant.

Show threadCasper217Dec 31, 2022
@rbreich certainly and we know that ALDI is higher than Krogers at this point.
Show threadLimbeckx 👾Dec 31, 2022
@rbreich this needs to be common knowledge. Better believe that when time comes for wage increases the same corporations will yell at the top of their lungs that we should prevent an inflation spiral and increasing wages will put us right in the spiral. The corporations will do everything they can get away with and nothing less.
Show threadCUDA813Dec 31, 2022
@rbreich nor fucking supply chain issues
Show threadKarl FuzzDec 31, 2022
@rbreich Net or gross? I assume you mean net.
Show threadDave NeeDec 31, 2022
@rbreich I’m with you but unfortunately, to quote Elliot Roberts (Neil Young’s manager) … you’re just pissing in the wind.
Show threadKenneth DudaDec 31, 2022

@rbreich no, corporate greed does not explain inflation because greed is constant.

I recall a graph of rents moving up and down, labeled "landlords get greedier" on the upswings and "landlords get more generous" on the declines, making fun of blaming landlords for rising market rents.

Supply and demand drives prices. Overall inflation comes from a mismatch between money supply and demand, not from corporate greed, which is constant. I'm sure you already know all this. I wish you'd say it.

Show threadNumber SevenJan 1, 2023
@rbreich The fact that, What the Second World Wars' fought to prevent's being regurgitated by, Orange Fuhrer Trumpoops & it's ToryBrexitfluent Fascist's. And the blame's projected onto the, 'Austerytised'.
Show threadKave fradoonJan 28, 2023
@rbreich درود