Jon Stewart Explains Inflation
- Thread starter What Would Jesus Do?
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While I've mostly supported Biden, his unwillingness to go after pandemic, war and other profiteering has really pissed me off.
No mention of the Fed and their printing phony money 24/7/365. Just more class envy.
1. So you're going to ignore corporate corruption and profiteering? How can you be so hostile to the mostly private enterprise banking consortium we call the Fed, while letting the rest of them screw us over?
2. It's not "class envy" to point out how Big Ins, Pharma and Big Oil are robbing the American public blind.
3. If you want add the Fed to those deserving criticism, go right ahead. I agree. But it's not reasonable to expect JS to tackle every bad actor in a 1-minute video clip.
If he's going to talk about inflation, he should talk about the cause.
Rising prices are a consequence of increasing the money supply.
Corporations can't print money, ergo they cannot inflate the money supply.
I'll agree that increasing the money supply is one of several possible contributors to inflation. Certainly not the only one.
I haven't seen numbers on that, so don't know if or the extent to which it drove the recent bout of inflation (which is mostly gone now). But pandemic and war profiteering have been in plain view, and they continue.
Let me know when record-breaking profits stop being a regular thing. Then let me know when sensible tax reforms have clawed back the excess profits. It will be a lot easier to take complaints about the Fed and money supply seriously - if we are still being hurt by inflation after those things happen.
Wake me up when Jon Stewart goes hard after the Fed, because if you’re going to discuss inflation seriously it starts and ends right there.
And there would be no war profiteering without the ability to print money. Even gullible Americans wouldn’t tolerate having their taxes raised every time we indulged in another war.
No. Inflation happens because consumers are buying.
The notion that the way to prevent inflation is for people to have less money is epically stupid.
Nominal profit levels will continue to break records because the inflation hasn’t stopped.
Do you understand what profits signal in a market economy?
To you, it’s a trigger for government confiscation, but what do profits mean to the entrepreneur? The person who actually takes steps to satisfy demonstrated demand?
What is the signal?
So you're a proponent of corporations getting more profitable but don't want consumers to have more money because that causes inflation. SMFH
Robinhood seized the taxes collected by the Sheriff for the Prince and returned them to the people they were taken from in the first place.
You have it backwards.
Extra points, though, for saying "nominal profits" alongside "break records" without it seeming blatantly oxymoronic.
Record profits don’t increase the money supply.
Record profits could indicate a swing in consumer demand (reducing someone else’s profits), or reduction in production costs (lowering prices don’t increase prices).
But increasing the money supply will be reflected in the nominal value of profits, along with other prices.
Do you understand what ‘nominal’ means in an economic context?
It’s means not adjusted for inflation.
If you double the money supply, and Company A’s profits increase from 1 million to 2 million, that might be a record in nominal terms, but over time as prices adjust across the economy it ends up being no change in inflation adjusted terms.
You're working way too hard to defend a weak position. I already acknowledged the small portion you are right about.
Like I said; wake me when your Zionist comedian tackles the Fed.
Thus, the Fed has the well-nigh absolute power to determine the money supply if it so wishes.1 Over the years, the thrust of its operations has been consistently inflationary. For not only has the trend of its reserve requirements on the banks been getting ever lower, but the amount of its amassed US government bonds has consistently increased over the years, thereby imparting a continuing inflationary impetus to the economic system. Thus, the Federal Reserve, beginning with zero government bonds, had acquired about $400 million's worth by 1921, and $2.4 billion by 1934. By the end of 1981 the Federal Reserve had amassed no less than $140 billion of US government securities; by the middle of 1992, the total had reached $280 billion. There is no clearer portrayal of the inflationary impetus that the Federal Reserve has consistently given, and continues to give, to our economy.
How the Fed Rules and Inflates | Mises Institute
The role of commercial banks in money creation is made more clear by the fact the Fed is primarily interested in creating demand deposits rather than cash. This
Why is it so hard to state that economics rarely has a simple problem/solution?
There are multiple factors at play here imo - government policies played a large factor in 2020-21 especially regarding inflation. So did supply chain issues caused by the pandemic and later the Ukraine War. Corporations also raised prices as a result of all that.
Yet the supply chain issues have largely resolved themselves, government policies have stabilized for the most part, and inflation rate has dropped from the peak levels we saw a couple years ago to the low-to-mid 3%s. Still not ideal, but not the runaway inflation we were looking at awhile back. Yet at the same time, prices for consumer goods hasn't declined to pre-pandemic levels. Now, I'm not an idiot and don't expect them to really return to those levels, but it's really hard for me to see these other factors (I'm sure there's many others I'm not thinking of), and not think there's price-gouging going on as well.
There are multiple factors at play here imo - government policies played a large factor in 2020-21 especially regarding inflation. So did supply chain issues caused by the pandemic and later the Ukraine War. Corporations also raised prices as a result of all that.
Yet the supply chain issues have largely resolved themselves, government policies have stabilized for the most part, and inflation rate has dropped from the peak levels we saw a couple years ago to the low-to-mid 3%s. Still not ideal, but not the runaway inflation we were looking at awhile back. Yet at the same time, prices for consumer goods hasn't declined to pre-pandemic levels. Now, I'm not an idiot and don't expect them to really return to those levels, but it's really hard for me to see these other factors (I'm sure there's many others I'm not thinking of), and not think there's price-gouging going on as well.
And it's amazing the number of people who think inflation, any inflation, is bad.
There are some other contributors but the increase in money supply isn’t a possible contributor, it is the main cause.
You seemed to gobble up what Stewart said as fact with no evidence. Wonder why.
Even the federal reserve has said 60% of inflation was caused by an increase in demand and 40% supply side.
It’s actually very basic economics to understand this. Why do so many democrats vehemently defend the federal reserve on this?
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