
Why don’t we blame ourselves for a bad economy or inflation?

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Well when NAFTA was signed we pretty much gave up on labor being important instead of the consumer. Companies claim they build factories overseas because US labor is too expensive. When you have the luxury of buying a PC most of which both software and hardware were invented in this country but now have none currently manufactured in the US because you would need to pay $45/hour & that much again for benefits but thar PC was only $289 whereas it would have cost over $750 in this country you are supporting consumers but not workers. It also has historically been tough on workers. The aptly named "Robber barons" got the US in a frenzy over communism or socialism. Both of those economic systems are more favorable to labor. European countries seemed to recognize that and chose the better features of each instead of getting the populace hysterical. For whatever reason the US had a strong start at the turn of the last century with labor unions strong and a vital socialist party. The Capitalists ( i. e. the owners of production not only hated this wealth distribution, they got the government involved in killing anyone who stood up to them Rockefeller's mining operation in Colorado hired police and Pinkerton's people to agitate strikers and up killing about 50 women and children by burning them, Ford would travel to eastern Europe every year to find another poverty stricken country to replace the ones he hired the [previous year because he knew he would need to give current workers a raise. The gov't started to get paranoid as violence mostly initiated by the capitalist owners and formed legal entities to hurt or force to emigrate. All the while most of the citizens were propagandized to death by the industry owners. The final straw was the Bolshevik revolution in Russia. Lenin got tired of debate with no improvement in conditions and started stripping property from nobility. The US supported the "white Russian" counter-revolution when recalcitrant land owners refused to allow serfs anything beyond the status of slaves. Stalin went much further then Marx. Lenin, Trotsky and either killed or sent them to gulags in Siberia which essentially killing them just not as quickly. At that point the nascent labor union, socialist supporters in the US were now actively harassed by the Atty. General, the FBI, the capitalists who used politicians like McCarthy to violate civil rights of anyone who mentioned labor. The government and the capitalists somehow managed to convince ordinary Americans that words that described economic systems most couldn't even define as synonymous with evil. The gov't had no qualms about taking an untrained military to stop communism and repeated the mistake in Vietnam. All the result of the spin that capitalists managed to give to words. That has kept the standard of living lower then most northern European economies. As long as people vote based on emotions instead of reason, labor will continue to dwindle in importance until we are living like serfs.
38% with a college degree isn't bad, is it? What age do you usually obtain one?
You should blame the corporations.
"Food company profit increases since inflation peaked:
Cheesecake Factory +471%
Cal-Maine +268%
Jack In The Box +213%
Chipotle +110%
Starbucks +47%
Sysco +43%
How much did they collectively spend on stock buybacks? Over $10 billion.
They used inflation as cover to get rich." https://mastodon.online/@rbreich@masto.ai/112973489146230206
"Just four companies in the U. S. control:
85% of beef processing
80% of corn seed distribution
77% of fertilizer production
69% of grocery sales
Wondering why food prices are so high?
Minimal competition means maximized price-gouging." https://mastodon.online/@rbreich@masto.ai/112967482737028417
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8Opinion

Bread & Circuses
Job market is supply and demand like anything else. If everyone out there has one too, your precious degree becomes less valuable. The problem is foreign money laundering and governments printing money at unprecedented rates
There are entire industries in America that were shipped offshore. With them went millions of good paying jobs. The only jobs left are flipping burgers.
There is a container ship larger that 3 football fields that comes to the Port Of LA from China practically awash in cheaply made Chinese goods. I goes back to China practically empty. I was the only one who saw something wrong with this until President Trump was elected.
Only jobs left are flipping burgers. To you maybe.
https://rb.gy/itftx1
Kind of hard to get a job when you've majored in gender studies. Too many are going to college that aren't academically fit enough to attend college in the first place and are just scrapping by.
i think because the degrees that smart people worked for were replaced by a non-degreed workforce they could pay less. surely the degree matters and the job does too. but i think you see my point.
People stay the same, politics changes. If there's a change in the economy, it's more likely to be due to a change in incentive or government policy than any individual person.
Yes, but in this case I'm talking more about government fiscal policy affecting pricing. Ie, inundating Americans with liquid cash may seem like a good idea as it may produce a multiplier effect, but in reality most of that cash will go to pay off existing debts and never actually enter the economy. Plus, due to supply and demand prices will start to rise as nothing happened on the supply side to increase the supply only the demand was increased.
When the currency is inflating people have more money in their pockets, but they can't buy anything. During the Weimar Republic Germans used to wheelbarrow buckets of cash around to pay for groceries. They had lots of money, just couldn't do anything with it. So more money does not necessarily mean better.
Do you think food prices aren't part of the economy? I don't mean to be rude, but are you reading the discussion we're having or are you just auto-responding to things. If prices aren't stable, the dollar isn't stable... Pretty simple calculus. Whatever money you had in savings is now down 10-30% of whatever it was pre-Covid.
I don't get it, but fine. We'll stick with your college thing. Your statement, "Ok but also helping existing college debt would be good for the economy as it could be the next financial bubble. And we want more college grads. It really should be free, if we want a great economy." My response: "The average median starting salary for recent college graduates is $55,2601. The national average salary for college graduates is around $50,000 to $60,000". I'll just take my profession as an example, "The national average salary for a plumber is $56,216 per year." Yet your people want me to pay off some baristas $100k college degree. Why? He's not putting more into the economy, he's not providing a service that's required to maintain infrastructure, he's squandered his money, so why should I have to pay for it?
That keeps being a trope. The college grad barista. Even if there was a lull between graduating and getting a better job because they liked their college lives…
In a few years they’ll be making 50k-60k.
High school grads: 25k-35k
And you think that’s bad to have more college grads than non grads? That was the OG argument right?
No... My argument was that individuals aren't to be blamed for a bad economy or inflation because no individual can affect the entire economy. Government policy is what is responsible for inflation.
Then you said some random stuff and claimed you wanted to spend more government money thus inflating the cost of education for the benefit of more college grads. I responded that I don't want my tax dollars going to some degree in underwater basket weaving. You continued by saying it's better for the individual college grad. It may or may not be, but if a college degree is so valuable then why aren't college graduates paying off their loan? Why do I have to pay for college grads making so much more money than me?
College degrees are mostly just a huge amount of debt so it's not surprising people don't find them necessary anymore. The return on investment sucks.
Because we do not set the policies.
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