Tony, Pretty MuchJun 14, 2023
Just going to tag this #inflation or more specifically #corporategreed
Show threadTalkless  

@TonyStark

"Profits" during #inflation are misleading. It shows "profit" against cheaper inputs.

If you have paid for your inputs (products, materials, etc) $1M before inflation, but during year you see that inputs are getting more and more expensive, you HAVE to rise prices in advace to prepare for upcomming higher invoice for next batch of inputs, because how are you gonna pay $1,2M next time if revenue was only $1,1M (inputs + margin for salaries and other expenses)?

#BasicEconomics

Jun 15, 2023 at 10:27amWeb
Show threadTony, Pretty MuchJun 15, 2023

@Talkless That would make sense if large companies would just raise prices to cover higher costs. But they don’t. They’ve figured out they can raise prices much higher than they need to and people don’t have alternatives. #BasicMath and probably #BasicEconomics

I’m skilled at both.

Show threadRJJun 15, 2023

@TonyStark @Talkless

#BasicEconomics

Economists are reconsidering how much corporate profits drive inflation : NPR
https://www.npr.org/2023/05/19/1177180972/economists-are-reconsidering-how-much-corporate-profits-drive-inflation#:~:text=Economists%20are%20reconsidering%20how%20much%20corporate%20profits%20drive%20inflation%20In,was%20because%20of%20corporate%20profits.

Show threadTom von AltenJun 15, 2023
@RJA @TonyStark @Talkless Spoiler alert: A LOT
Show threadTalkless  Jun 15, 2023

@RJA @TonyStark

> Economists are reconsidering how much corporate profits drive inflation

Fiat money-printer-funded economics say money printer does not cause inflation, it's actually corporate greed! 😂

Stop reading propaganda, learn how humans act in scarce resource world.

Economics is about allocating scare resources having alternative uses.

More money but same amount of resources means prices rise, as only with price mechanism you can decide to whom you sell those scarce resources.

Show threadTony, Pretty MuchJun 15, 2023
@Talkless @RJA No idea why I even started talking to a libertarian. Bye.
Show threadRJJun 15, 2023
@Talkless @TonyStark You're oversimplifying something you have no grasp over.
Show threadTalkless  Jun 15, 2023

@TonyStark > They’ve figured out they can raise prices much higher than they need to and people don’t have alternatives.

Could''t they raise prices more than they need before inflation?

Your BasicMath does not work where Humans Act. Decreasing price 5% you could actually earn MORE than 5%, because PEOPLE BUY WHERE'S CHEAPER (reduced price increases demand). Hence, there's incentives to increase prices as little as possible, even if you HAVE to.

Or you are talking ONLY about monopolies then?

Show threadTony, Pretty MuchJun 15, 2023
@Talkless Yes, and they did, but now they have cover and people let them get away with it. And the rest of this isn’t what’s actually happening, as I and many other people in the thread have explained to you. I’d go for the “talk less” thing about now.
Show threadRJJun 15, 2023
@Talkless @TonyStark Inelasticity vs elasticity. You don't know what you're talking about. At all.
Show threadGoose The CatJun 15, 2023

@Talkless @TonyStark Maybe millionaires could help everyone else ride out the storm instead of price gouging.

https://www.businessinsider.com/why-prices-inflation-soaring-corporate-greed-profits-margins-wages-jobs-2023-4?amp

Why prices, inflation are still soaring: corporate price gouging

Why does everything cost so much? Because businesses are "hiding behind inflation to jack up prices."

Insider