Comment on Inflation?

jimmydoreisalefty@lemmy.world ⁨2⁩ ⁨months⁩ ago

• Maggoty@lemmy.world ⁨2⁩ ⁨months⁩ ago

  Not really. Not with the COVID inflation. Over the last few decades sure. But rent and food doubling was corporate greed. We have them on their investor calls bragging about it.

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• bruhduh@lemmy.world ⁨2⁩ ⁨months⁩ ago

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• FluffyPotato@lemm.ee ⁨2⁩ ⁨months⁩ ago

  I don’t think the federal reserve is active outside the US. Also printing money was the cause of inflation when gold was backing the money, now the worth of money is only governed by what you can buy with it. Like you can double the amount in circulation but if no one raises prices there would be no inflation.

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  • LibreHans@lemmy.world ⁨2⁩ ⁨months⁩ ago

    FED policies affect every currency on this planet as they are all backed by the usd… the consumer price index was designed to under report inflation. The basket would be CHEAPER every year because of improvements in production if there was no inflation.

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    • FluffyPotato@lemm.ee ⁨2⁩ ⁨months⁩ ago

      There are a handful of currencies backed by USD but most are not. I only know of Belize dollar, the Hong Kong dollar and the Dirham as backed by USD, as far as I know those are the only ones.

      Do you think stores look at the inflation and raise their prices accordingly or do they raise their prices and inflation is calculated based on that? One of those is correct.

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      • LibreHans@lemmy.world ⁨2⁩ ⁨months⁩ ago

        Stores don’t look at inflation, inflation makes the stuff they sell more expensive to buy, so they have to sell it for more money or make losses.

        Fed policies like interest rates directly affect almost all countries because they have USD debt.

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      • Unforeseen@sh.itjust.works ⁨2⁩ ⁨months⁩ ago

        Bermudian dollar as well

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨2⁩ ⁨months⁩ ago

    you can double the amount in circulation but if no one raises prices there would be no inflation.

    Let’s say all dollars are now worth 2 Xollars. Trading in dollars is now illegal and everything must now be traded in Xollers.

    A loaf of bread costing 1 dollar will now cost 2 Xollars.

    Doubling the amount of money in circulation doubles prices.

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• Viking_Hippie@lemmy.world ⁨2⁩ ⁨months⁩ ago

  I think the bigger issue is the Federal Reserve

  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.

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  • LibreHans@lemmy.world ⁨2⁩ ⁨months⁩ ago

    lol. The Fed devalues your money, of course that leads to rising prices.

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    • Viking_Hippie@lemmy.world ⁨2⁩ ⁨months⁩ ago

      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.

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      • LibreHans@lemmy.world ⁨2⁩ ⁨months⁩ ago

        Which company do you think is price gouging?

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  • Knock_Knock_Lemmy_In@lemmy.world ⁨2⁩ ⁨months⁩ ago

    The fed does have a say in doubling the money supply. That’s the real source of inflation.

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    • Viking_Hippie@lemmy.world ⁨2⁩ ⁨months⁩ ago

      That’s a St Louis Fed overview of savings accounts 🤦

      Get out of here with that bullshit

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      • Knock_Knock_Lemmy_In@lemmy.world ⁨2⁩ ⁨months⁩ ago

        Way to factual for a shitpost.

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• Diplomjodler3@lemmy.world ⁨2⁩ ⁨months⁩ ago

  Yeah, you would, wouldn’t you.

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• zarkanian@sh.itjust.works ⁨2⁩ ⁨months⁩ ago

  Can’t zoom in on an animated GIF. There’s no reason for that to be animated.

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  • jimmydoreisalefty@lemmy.world ⁨2⁩ ⁨months⁩ ago

    Here ya go:

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• Knock_Knock_Lemmy_In@lemmy.world ⁨2⁩ ⁨months⁩ ago

  fred.stlouisfed.org/series/M2SL

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