this post was submitted on 26 Aug 2024
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And you would be wrong and using a far right talking point.
The federal reserve has no say on how much corporations charge for their goods and what they consider acceptable profit margins.
An oversupply of money CAN cause a certain amount of inflation, but it's almost nothing compared to corporate profiteering.
The fed does have a say in doubling the money supply. That's the real source of inflation.
That's a St Louis Fed overview of savings accounts 🤦
Get out of here with that bullshit
Way to factual for a shitpost.
lol. The Fed devalues your money, of course that leads to rising prices.
Nowhere near as much as price gouging does. The people selling wares decide the price of them regardless of the money supply, which is mostly meaningless in a predominantly digital economy.
The fed affects the interest rate, which has an indirect effect on prices, but the ones actually deciding what to charge for food, rent, or utilities are the final arbiters artificially increasing prices higher than they need to in order to maximize profits.
Which company do you think is price gouging?
Just off the top of my head, some major ones are Walmart, Tyson, Perdue, At&T, Verizon, PG&E and there's many, many more.
Go look up their net profit margins, they are going sideways.
Yeah, those numbers are what's left AFTER they've done a bunch of creative accounting to avoid taxes.
Their ACTUAL profit margins are significantly larger and growing.
Their gross profits are up because money is worth less because of inflation. The purchasing power of those "growing" profits has basically not changed.
Lol
LMAO, possibly
That's just not true. And since this is the point where it's clear that you'll just keep repeating the same piece of misguided conservative orthodoxy over and over again, I'm gonna leave you to it.
Have fun staying poor
Thanks to the corporations you shill for. I'd say I hope that they're paying a fair price for your dignity and integrity, but paying workers fair compensation is not something most corporations do..
Lol, you're the one propagating the big banking propaganda that monetary inflation is not inflation.
Nah, big banks can go fuck themselves with THEIR predatory practices too. So can the crypto scams you probably consider more reliable than real currency.
The bottom line is that the Fed doesn't drive inflation anywhere near as much as it did back when most money was in cash.
Corporate profiteering, on the other hand, is at an all time high both in absolute numbers and with regards to driving inflation.