Go Forbid the workers should get a little leverage. That would be bad for “the economy”

1. bamboozer

   April 29, 2023, 11:34 am

   The Fed’s idea of “fighting inflation” is to tank the economy, always at the pain and expense of the Americans who actually do work, as opposed to play games with money on say Wall St. That the Fed is anti worker is obvious, but it seems o.k. with both parties who tend to feed at many of the same troughs. This time the game isn’t working as the economy remains strong despite their best efforts. How about we tax the rich instead? For once?

2. puck

   April 29, 2023, 4:36 pm

   It is a common economic illiteracy that inflation should be zero or less and prices should always be going down. If inflation is zero or below your economy is dying.

   If your economy is growing in a healthy way there will be a certain amount of inflation. More than that amount is a bad thing. The Fed has deemed the correct amount of inflation to be 2%, but that number is somewhat arbitrary.

   It took until 2012 for the U.S. to declare its 2% inflation rate target.

   And since then, there has been controversy over whether that target is justified.

   For example, in 2017, some economists wrote a letter to the Federal Open Market Committee, making the case for a higher target.

   “There’s no evidence that 3% or 4% inflation does substantial damage relative to 2% inflation,” said Ball, one of the economists who signed that letter.

   https://www.cnbc.com/2023/02/20/the-federal-reserves-2percent-inflation-targeting-policy-explained.html

3. Jason330

   April 29, 2023, 5:08 pm

   Procter & Gamble raised prices on staples like diapers and toilet paper, citing increased costs in raw materials and transportation.

   But P&G has been making huge profits.

   After some of its price increases went into effect, it reported an almost 25% profit margin.

   Looking to buy your diapers elsewhere? Good luck.

   The market is dominated by P&G and Kimberly-Clark, which—NOT entirely coincidentally—raised its prices at the same time.

   https://www.inequalitymedia.org/the-truth-about-inflation

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