And it wasn’t. The supply chain breakdown would have happened no matter who was in office
if i remember correctly, COVID brought our inflation up to roughly 6%. then the Ukrainian war took it the rest of way where it peaked near 9% (over 10% in my home state)
these things would have happened anyway, although choosing to prolong the Ukrainian war as long as possible most definitely increased inflation. people think we only gave 2 or 3 hundred billion, but realistically the American public has paid more than a trillion in the invisible tax that is inflation. hundreds of thousands of layoffs because of higher interest rates are also connected to this
Let’s not forget that a large part of the inflation, and especially on food and housing, was driven by pure greed and opportunism from the capitalists that control those basic necessities. And that’s something that could have been prevented with tools that capital permitted under Ronald Fucking Reagan.
it’s an eternal battle. every once in a while we pass legislation to try and reign in corporate power. like for example the anti trust act in the early 1900s
the issue is that public attention is temporary. eventually we move on to the next crisis and people forget. grow complacent.
corporate interest, however, is eternal. it’s persistent and never gives up. it keeps pushing, infallibly, in order to weaken the structures meant to reign in their power. whether by legislation/policy (AT&T and friends unilaterally killing Net Neutrality some years back, Disney signing into law expansion of copyright, etc) or through more subtle methods (buying politicians and getting people into positions of power that have no intention of enforcing the laws)
this is inevitably what happens with every democracy. eventually the vigilance fails and the structures of power are hijacked by opportunists.
although having said all that, I don’t think greed had much to do with the inflation we saw. Sure, some companies took advantage and raised prices more than they needed to just to inflate that extra juicy profit margin.
but realistically we’re headed to war and war means massive government spending which means inflation
You’re separating government from the capitalists and I don’t think that’s an accurate way of looking at the world. Capital will eat itself even more voraciously than it does right now without some mediating force on itself. Government isn’t a hedge against capitalism that mediates its excesses. It is a PART of capitalism that mediates its excesses. The anti-trust act wasn’t for us; it was for them.
But the reality that capitalism is a fundamentally unstable system can’t be fixed by blunting it. And as the rate of profit goes down, the very restraints that capital put on itself to ensure its survival must be destroyed in pursuit of that profit.
if i remember correctly, COVID brought our inflation up to roughly 6%. then the Ukrainian war took it the rest of way where it peaked near 9% (over 10% in my home state)
these things would have happened anyway, although choosing to prolong the Ukrainian war as long as possible most definitely increased inflation. people think we only gave 2 or 3 hundred billion, but realistically the American public has paid more than a trillion in the invisible tax that is inflation. hundreds of thousands of layoffs because of higher interest rates are also connected to this
Let’s not forget that a large part of the inflation, and especially on food and housing, was driven by pure greed and opportunism from the capitalists that control those basic necessities. And that’s something that could have been prevented with tools that capital permitted under Ronald Fucking Reagan.
it’s an eternal battle. every once in a while we pass legislation to try and reign in corporate power. like for example the anti trust act in the early 1900s
the issue is that public attention is temporary. eventually we move on to the next crisis and people forget. grow complacent.
corporate interest, however, is eternal. it’s persistent and never gives up. it keeps pushing, infallibly, in order to weaken the structures meant to reign in their power. whether by legislation/policy (AT&T and friends unilaterally killing Net Neutrality some years back, Disney signing into law expansion of copyright, etc) or through more subtle methods (buying politicians and getting people into positions of power that have no intention of enforcing the laws)
this is inevitably what happens with every democracy. eventually the vigilance fails and the structures of power are hijacked by opportunists.
although having said all that, I don’t think greed had much to do with the inflation we saw. Sure, some companies took advantage and raised prices more than they needed to just to inflate that extra juicy profit margin.
but realistically we’re headed to war and war means massive government spending which means inflation
You’re separating government from the capitalists and I don’t think that’s an accurate way of looking at the world. Capital will eat itself even more voraciously than it does right now without some mediating force on itself. Government isn’t a hedge against capitalism that mediates its excesses. It is a PART of capitalism that mediates its excesses. The anti-trust act wasn’t for us; it was for them.
But the reality that capitalism is a fundamentally unstable system can’t be fixed by blunting it. And as the rate of profit goes down, the very restraints that capital put on itself to ensure its survival must be destroyed in pursuit of that profit.