After the pandemic, it was price gauging, the companies are greedy and don’t care what happens to the poor! They then spend 600 Billion Dollars To Stop Kamala Harris, they knew that she would let them pay their taxes and fines.
The capitalist class sets prices and when they create too much inflation, the govt hits labour over the head with a pole until they’re too weak to buy, in the hope that then the capital class *may* reduce their prices.
They won’t touch the capitalists & deal with inflation at the source
It is the fault of governments. Capitalists will always chase profit. It is their only priority. There are legislative levers that can be pulled to prohibit this rapacious capitalism. Proper taxation laws would be a start.
In Australia, inflation is driven by Coles & Woolworths.
They control pricing in groceries, petrol stations, alcohol, office supplies & hardware.
Billion dollar profits on essential goods is unconscionable, all the while reducing staff to serve you as you are expected to serve yourself.
Everything including:
- war and economic embargoes
- transport issues from key manufacturing markets
- poor competition policy in everything from supermarkets, to automotive, to energy
- the signal that companies rorting covid payments was a green light for price abuse
I guess you’d have to look at what sort of profit the corporations are reporting year-on-year. If they’re making a mint, it’s likely price gouging and profiteering rather than true inflation.
Profit push made up most of the inflation problem. Neoliberalism means ALP & LNP keep their hands off price controls (which worked in the 40s to 60s) & won't break up oligopolies (no Aussie govt ever has but in the US it was done pre-1960).
As for the tiny (and late, in reaction to profit push) wage push component, elements of government have done a lot, almost certainly too much, to rein it in, smashing our short period of catch-up that got no where near catching up.
I personally think it can’t be one persons fault or they should take the blame. there are some measures that can be taken to slow inflation, if that is what is best for the people at that time.
I think sometimes people get caught up wanting to blame someone. When it’s no ones fault.
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They won’t touch the capitalists & deal with inflation at the source
They control pricing in groceries, petrol stations, alcohol, office supplies & hardware.
Billion dollar profits on essential goods is unconscionable, all the while reducing staff to serve you as you are expected to serve yourself.
When the Government doesn't reign in the price gouging capitalist class.
That's when we have rampant inflation.
- war and economic embargoes
- transport issues from key manufacturing markets
- poor competition policy in everything from supermarkets, to automotive, to energy
- the signal that companies rorting covid payments was a green light for price abuse
So many things
Nuff said
Profit push made up most of the inflation problem. Neoliberalism means ALP & LNP keep their hands off price controls (which worked in the 40s to 60s) & won't break up oligopolies (no Aussie govt ever has but in the US it was done pre-1960).
https://futurework.org.au/report/profits-and-inflation-in-mining-and-non-mining-sectors/
https://australiainstitute.org.au/post/new-figures-reveal-yet-again-that-wage-growth-is-not-driving-inflation/
Irony is when disgruntled plebs in U.S. tried to push back against capitalist excesses, they voted in hyper-corrupt-capitalists-on-steroids.
Inflation is removing incumbents globally
I think sometimes people get caught up wanting to blame someone. When it’s no ones fault.
Ref. https://www.redhistorymuseum.com