Robert ReichMay 15, 2024

Walmart announced hundreds of layoffs yesterday.

But remember that the company has been hiking prices and raking in big profits.

Its share prices hit a record high in March.

The Walton family's net worth reached $267 billion this year.

Textbook corporate greed.

Show threadVessOnSecurityMay 15, 2024

@rbreich If you hike the minimum wage, you force companies to fire workers, automate them, and to hike prices.

If you print/borrow billions to fund foreign wars and intervene in the oil market, this leads to rising prices and other signs of inflation. Have you adjusted these $267 bil for inflation? Not for the bogus CPI but for the real inflation the average man feels?

Textbook socialists - always count other people's money and fuck up the economy by intervening incompetently in it.

Show threaddontony
@bontchev @rbreich textbook capitalists, deregulate the free market and the oligarch billionaires will suddenly realize that they need to do the ethical right thing and not let their workers starve.
May 15, 2024 at 4:11pmWeb
Show threadVessOnSecurityMay 16, 2024
@dontony @rbreich In a free market, it's a free exchange, benefitting both parties. Nobody forces the capitalist to pay a certain wage, and nobody forces the worker to accept that wage. If the wage seems too low to the worker, he's free to go working for somebody else. If all do that, the capitalist is out of workers and goes bankrupt - or has to offer better wages.