You Are Being Lied to About Inflation - Robert Reich

[progressoid]

The underlying problem is not inflation. It’s corporate power. The entire American economy is concentrated into the hands of a few greedy, corporate giants with the power to raise prices.

[UpInArms]

2. Truly

I remember the 12.75% home loan I had in 1982 ..

This whole kerfluffle is bullshit

I will repeat … the only inflation that is awful is wage inflation … and every thing is trying to punish peeps for being paid more than $7.50 per hour for their labor

[dalton99a]

3. Kick

[Baked Potato]

4. Yes, this. Nt

[BigmanPigman]

5. Reich is right, as usual.

[paleotn]

6. The dark side of consolidation...

Like there's actually a bright side. There's not. It's all dark and Reich is correct.

[Hoyt]

7. Who could possibly expect shortages from pandemic, needed increase in wages,

stimulus payments (also needed), war in Europe, etc., might cause some temporary inflation?

Note: Haven’t been a Reich fan since he bashed Obama and Clinton leading up to 2016 election, helping give us trump.

[peppertree]

8. Nothing like what we saw during Bush's second term though

Prices were going up in leaps and bounds - gas, rent, insurance, grocery items, you name it.

And yet, they always claimed inflation was "3 point-something%"

Dubya and Rove must have laughed every time they saw the CPI reports.

"Karl - maybe we should rename the BLS, the BS!" *snort* *chortle* *grunt*

[markie]

9. "The Daily"

WITF radio had great segment on this tonight. Sorry don’t have link. (I am back on trail so am limited)
Peter Goodman article. Started with Reagan lessening anti-trust and politicians keep refusing to address it

The podcast focused on meat prices but it applies to entire economy. Good listen!

[SleeplessinSoCal]

10. I guess this is why we never see him anymore on MSM.

I wonder if HBO's The Gilded Age will expose the ill treatment of workers. No unions during the "gilded" age. (Named so by Mark Twain so as to expose the superficiality of those flaunting their ill gotten gains.)

"Ill Gotten Gains" ought to be the subtitle.

[SleeplessinSoCal]

11. And those few raising prices cause the often touted trickle down effect.

What cynical bastards they are.

Hang 'em high!

[2Gingersnaps]

12. The only economist I love more than Paul Krugman is Professor Reich!

[pansypoo53219]

13. the fed, starting w/ greenspud, ayn rand acolyte kept the rates near 0 too long to boost abysmal

economy under gw + trump. obama needed to ax tax cuts for rich sooner. nigher rates good FOR BONDS + SAVERS. LOW IS FOR WALL STREET.