Dan Froomkin/presswatchers.orgWage growth is worrying. Obscene corporate profits are just interesting.
Stargeezer Smith@froomkin
Moderate inflation is a feature, not a flaw in a growing economy.
Except in the U. S., where it is primarily a political weapon.
Matt@stargazersmith @froomkin 6% is moderate?
What's your inflation target? Mine would be 2-3%
@mattcrwi @froomkin
6 % is a bit high, our dilemma is it's a largely a global phenomenon, and the Fed trying to control it with interest rates is counter productive.
Globally it's a manufacturing and supply line issue, we can partially solve. Domestically it's a profiteering phenomenon, big business over charging and producing windfall profits. That, unfortunately, is something that needs Congressional action. Good luck with that.
Wendy Lady@froomkin this bothers me such because for a while and to some extent still, we see articles berating "the poor" for living outside their means.
But now that "the poor" are getting a little bit of a boost, they're like mad somehow that we are still in survival/save mode as we always had to be to live, so now we are getting close to afford things like...a home, food, medical care, and a car? This is the stuff they kept telling us we won't do because it's our morally regunant behavior and bad budgeting and they're so much better than us, and we kept telling them, "we can't do it because we don't get paid enough".
Now the news media are seeing results of the people being lifted up and confused how this all works.
Dan Wentzel 🏳️🌈@froomkin Wage growth is worrying to them, but obscene corporate profits and bloated executive pay & bonuses are good to them.
Ian Stuart@froomkin If we would break up #monopoliesAndCartels there would be more #priceCompetition . Then wages could get much higher without AVERAGE inflation increasing. There was a time that increases in productivity lifted everyone up but these past 5 decades the benefits have only gone to the ultraWealthy.
I don’t think that shareholders should be prioritized over other #stakeholders (such as employees and customers).
Quiquaequod@froomkin meanwhile, rent growth is 14%
Shmock@froomkin oh yeah, I have been thinking this for two weeks. Thx for articulating it well.
Official Kakistocracy Jester 🪓@froomkin when the orange line catches back up to the blue line, we can talk about wage growth being worrisome. Not a minute before.
Steven Molnar