this post was submitted on 14 Feb 2024
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I mean, that feels like common sense to me. I have less money than I had last year, so my girlfriend and I eat out less, I buy less video games, I buy more chicken and less beef, I buy less alcohol, etc. etc. It's just a reality of inflation.
We avoided the recession, the result is inflation is destroying our wallets, so we have to spend less to still pay our bills.
That's more of a function of corporate greed than anything else. They're all hiding behind each other while ripping you off, and getting away with it because it's difficult to call out any one company when they're all doing it.
What are you going to do about it, compete in the marketplace? The barriers to entry are high enough that that is extraordinarily difficult. And if you do manage it, why would you charge less than market rate? And you're likely to just get bought out by a bigger competitor anyway, so grats on your cash out.
I mean, sure, we can say it's corporate greed, but also we've put over a trillion dollars extra into the economy in a short span due to COVID and Build Back Better, while at the same time there were supply shortages for years, plus record low unemployment causing a raising of wages, all without the fed reacting quick enough by increasing interest rates sooner. We've got every textbook condition for an increase in inflation rates.
Don't forget the PPP where Trump refused to sign it if it had proper oversight.
That is very true! I'm very salty Trump was able to just do that, but I couldn't get my student loans deleted. :l