Inflation. What is it good for?

The Solution To The Inflation Crisis That Worked TWICE Before!

The text included with the above video:

There’s no question that the inflation crisis is here and it’s not going away any time soon. So what was the cause – the Ukraine War, government spending, sun spots? And what’s the best way to solve the crisis? The New School economics professor Richard Wolff says the explanation for the current crisis is actually quite simple, and notes that the government has acted dramatically to curb inflation twice in the past, and could do so again if only those in positions of power had the political will to challenge corporate interests profiting handsomely off the high prices.

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My summary of the video:

How do you stop inflation? The simplest and fastest way is wage and price freezes. Both FDR and Nixon did this. Couple that with a tax on windfall profits.

Higher inflation. Is it because of the Ukraine war or weather or supply chain problems? No.

Who sets the prices of goods and services? Employees? Consumers? No. Employers set prices. They are raising prices and increasing their profits to record levels. Where does all that money go? Mostly not for supplies that they need to produce their own products. Not for wage increases to deal with inflation. It goes into the stock market or in stock buybacks, and it goes into the pockets of the wealthy.

Will it help if the Feds increase the cost of borrowing by raising interest rates? No. Who are the people that are in debt? Consumers. Not the wealthy. Consumer interest rates on mortgages, auto loans, credit cards, etc., are often tied to federal interest rates. It's the people with those debts that will be impacted.

Will cutting 'entitlements' and raising the retirement age help? No. Social Security is self-funded and has for decades been putting surpluses into the Trust Fund to handle baby boomer retirements. Cutting Social Security only changes the date that the Trust Fund zeros out. There is no effect on federal budget deficits or the National Debt.

Socialism Is Not Communism

Socialism is not communism (the far-right's boogeyman). It is not a fascist dictatorship like the USSR.

Democratic Socialism is capitalism with social programs where needed, such as Social Security, Universal Healthcare, public utilities, police, fire, highways, roads, EPA, OSHA, FAA, SEC, and public education.

It is not a profit-driven, unregulated, unfair, unjust, monopolistic, theocratic, oppressive, fascist corporatocracy where corporations and the wealthy gouge consumers and create an ever-widening income disparity. That's what today's Republicans are hell-bent on creating. 

Democratic Socialism is about worker's rights, consumer protections, environmental safeguards, financial protections, an end to predatory loans, a stop to monopolies that eliminate competition, a fair (instead of an unregulated "free" cheaters-always-prosper) market, non-profit justice, and a halt to the gutting of public education.

CRT is a law school subject, not taught in K-16, and it's not about white guilt. And no, Democrats don't want your guns. They want to eliminate weapons of mass murder, such as AR-15s. They want reasonable gun laws such as background checks and a return to keeping guns out of the hands of the mentally ill. They want a return to having financial advisors to have the client's interests foremost. An end to the nanny state the self-righteous right-wing is creating.

Wake up and look closely at the degenerates you are voting for.

Corporate Greed - Ohio Train Disaster

The ground and water were not tested for vinyl chloride. The substance is not even classified as hazardous material despite its toxicity. Only the air was tested, and the EPA said, "All clear!" Vinyl chloride dissipates in the air rapidly, but it contaminates soil and water.

Politicians are more concerned with campaign contributions than safety. Railroad car brakes are often still Civil War technology despite safer brakes being available since at least the 1990s.

Personnel reductions were made, and safety check inspections were cut from 5 minutes for each railroad car to 60 seconds. Railroads are even lobbying Congress to allow trains crewed by only one person—a conductor but no engineer.

Forget the Stone Age and the Bronze Age. Welcome to the Corporate Age—a government ruled as a corporatocracy rather than a democracy.