Viewing a single comment thread. View all comments

Caraes_Naur t1_j5bi5b2 wrote

Trying to maintain the impending recession narrative.


Badtrainwreck t1_j5cvhdr wrote

Sad that the economy only flys the same way Peter Pan does, worse that these fuckers know it and want the economy to slip into recession so they can pay workers less and profit off a downturn


underwear11 t1_j5ficvs wrote

Considering majority of inflation was driven by rising corporate profits.....yea.

Also, they over hired and now are laying off the excess to make sure they can keep those profits and executive bonuses.


albert768 t1_j5fyel5 wrote

That is false.

Inflation is the growth of the money supply in excess of the growth in the supply of products and services. 100% of the inflation is driven by the government and government only. Last I checked, only the government can print money or deficit spend into oblivion (releasing money into the market without producing anything).


Slyguybuyfry t1_j5fivvn wrote

Why do you think this? This is not how economies work. It’s a fundamental misunderstanding of what inflation is and how it is caused.

Inflation in this cycle is driven by supply side constraints largely, as well as too much stimulus through Covid. Behind that is a labor shortage due to a slew of factors.


underwear11 t1_j5fn6fy wrote


Hawk13424 t1_j5haz6p wrote

Companies always take max profits. The question at this time is why can they take even higher profits. The reason is increased demand.


Slyguybuyfry t1_j5fodoq wrote

So no it’s not. Chicken/egg implies causation. All you have is correlation.

EPI is a sus source to link cuz it’s very left leaning in its bias. Probably why they essentially ignore or failed to mention record demand levels. Which would correlate and in many cases cause record profits. With or without an inflationary environment.

What causes record demand?


Cl1mh4224rd t1_j5fya5s wrote

>EPI is a sus source to link...

And you've linked nothing.


Slyguybuyfry t1_j5g01lx wrote

I’m not making the point that needs sourcing lol. Also not sure how linking something is a validation if anything. If you link garbage it just makes you sound silly

But here since you like links enough to make a pointless passive aggressive comment. And clearly have nothing substantive to add to the discussion.


rulesforrebels t1_j5g9i5z wrote

Hey buddy this is reddit capitalism is bad and the source of all the world's woes not shutting the economy down for two years throwing everything off


Slyguybuyfry t1_j5gkmef wrote

Appreciate that I'm not the only one that sees the hypocrisy in reddit echo chambers. That being said do disagree slightly on the first part, think the initial response was warranted until we had more data and vaccines. After that we should have opened up quicker.


Decimator714 t1_j5fqyh7 wrote

I don't know how it's not pretty obvious that printing 2 trillion dollars is going to cause massive inflation...


Slyguybuyfry t1_j5ftiib wrote

Hey it’s easier to downvote with zero economic knowledge and just believe in your feelings instead.

I mean come on. Isn’t it obvious? Companies just decided to charge more money because they wanted bigger executive compensation packages, and consumers are so on board with this that we also decided to buy at record rates. 🙃


rulesforrebels t1_j5g9o83 wrote

Why is this just happening now? Why is this just so coincidentally happening after printing 2 trillion at a time when nothing was being made and produced and trade and movement stopped around the world


Slyguybuyfry t1_j5glfia wrote

Well this is an incomplete take. That is but one factor, that helped drive demand. Through most of the last two years, we've been producing at unprecedented rates.

It's really a perfect storm of stimulus being slightly overdone, as a result demand being through the roof, while supply chains are intermitantly in dissaray, and labor shortage due to lack of immigration and periodic covid lockdowns and outbreaks in the workforce. Plus so many retired early as a result further creating a labor crisis. All that futher compounded by the rise of IoT and lockdown markets driving demand higher on tech. Everything needs a chip yet chip production was still 10 years behind.

Lot of supply side inflation here. Thats why interest rate hikes are taking such a long time to take effect, its an indirect way to impact the situation.


rulesforrebels t1_j5hmg98 wrote

We dont produce anything everything we consume is produced by China and they just opened back up


Slyguybuyfry t1_j5hpveq wrote

Eh depends on the industry. China is a big mfg for sure. Not sure what that had to do with my point tho. I was talking global.


Heron-Repulsive t1_j5em6nj wrote

you always get a recession (sometimes forced) when minimum wages rise to meet the needs.

Can't have that


SpunkyMcButtlove t1_j5id8ul wrote

Isn't it fascinating how this set of man-made laws somehow always does something bad when you try to do something good? I wonder why that is.