Reply to Wage growth in the U.S. is skyrocketing

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wages are a small contributor to inflation. Our current inflation is being driven by corporate greed, not wage growth. Look at how many corporations posted RECORD BREAKING PROFITS while also jacking up prices. We have a corporate greed problem, not a problem with increasing wages, which have been stagnate for decades. [/quote]

Jesus Christ, please tell me you know nothing about economics without telling me you know nothing about economics.

Companies cannot cause MACRO level inflation across the board that we are seeing. Inflation that is the worst in 40 years.  That is caused by too much money printing, too much credit liquidity, and too much fiscal spending/stimulus.  The govt IS the cause of the inflation.  Companies have record profits *because* the govt has expanded the entire supply of money by 50% in about 1.5 years.  Companies have record profits *because* the govt handed multiple rounds of trillion dollar stimuluses.

It is utterly insane Democrats are dumb enough to blame individual corporations for macro level inflation. First Democrats told us it was transient. Then they blame supply chains. Next, the Dems blamed corporations.  Get a grip. It is caused by the govt, too much stimulus and lax monetary policy, and too much money that is making demand overheat.  It also manifests as wage price spirals, which are are incredibly sticky and hard to combat.  [/quote]

DP...  Yes they can.  Two of the biggest drivers of recent US inflation are a.) oil and gas costs, which has been 90% driven by corporate and speculator interests and b.) cost of used cars, driven in large part by rental companies hanging on to their fleets longer than they used to.[/quote]

Gas prices are up because of geopolitical shocks.  You cannot simply just stop and start oil rigs. Getting new rigs online can take as long as one year, and costs for oil rigs have gone up due to 30% due to inflation.  Rental car companies are holding onto their cars BECAUSE inflation has gone up for buying new cars.

Tell me you've never looked at the PPI numbers without telling me have never looked at PPI numbers (hint: they're even worse than CPI).  You have no idea how to run a business and how to maintain margins.  Macro level inflation is caused by forces way above a rental car company or an oil company.  The fact that you are oblivious to the effects of printing 50% more money, spending trillions in stimulus, and the fed lubricating credit markets is absolutely mindboggling.  [/quote]

DP. No need to be so insulting. There are multiple factors contributing to inflation. The stimulus, clearly, was one factor. [/quote]

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