63% of Americans are ■■■■■■■ idiots.
At least 18% are not.
63% of Americans want to combat inflation by:
INFLATING
Send those checks out. I assure you the resulting monetary inflation will lead to more price inflation that will more than wipe those checks out.
You want to stop inflation.
Stop inflating.
As for the current price inflation, NOTHING to do but wait it out and hope for a corrective recession.
Bottom line.
You cannot combat inflation by inflating.
Immediate gratification combined with a lot of people hurting very bad. People better hope AGW kicks in for the winter.
So, you don’t buy into corporate gouging playing any part here.
No, I do not.
Even if there are any isolated cases, relief checks are still far from the solution and would simply create more problems.
Simple ignorance of economics by the vast majority of the population is a big factor as well.
With ExxonMobil profits soaring. You sure?
You ever bought a house with cash?
In an inflationary environment, remember that the new money or new credit always enters the economy at or near the top first. That means with the large corporations and richest individuals.
The monetary inflation is a major factor in Exxon’s performance.
While it is always easy to throw the demonizing “price gouging” label around, it is not always accurate.
It’s not only this generation. A lot of elderly folks think FDR saved them. We’ve always been sheep for the most part.
Yes they are…they always soar during inflationary times…but that’s an effect, not a cause.
They also lost $22B in 2020- a record loss. Should we have subsidized that loss?
How are we going to figure out how much of ExxonMobil’s profits are “windfalls” (to quote President Biden) and how much are “legitimate” profits?
The mistake is assuming large businesses can manipulate what they charge that easily.
They cannot.
As Safiel pointed out, there is no doubt some real price gouging going on out there…but it’s probably small and localized.
These are the kind of folks who don’t understand even basic economics. If they do but qualify, they don’t care about the effects as long as they get some free money.
It’s not surprising.
I think like 20% of Americans think the moon landing was faked. I used to work with a guy who honestly didn’t believe it actually happened. And he’s younger than me.
We can be pretty stupid as a species.
Even if there is some price gouging going on that doesn’t mean the right course of action is to pump a trillion extra dollars randomly into the economy.
That’s inflationary 101. Inflation is the only result of doing so.
The best way to lower inflation is lower oil prices by increasing output in America!
Depends.
Is all oil created equal?
You said that you do not believe price gouging played any role in ExxonMobil’s profits. The first line in your post.
That’s what I questioned.
I don’t and for a simple reason.
ExxonMobil does not control near enough of the supply to even engage in price gouging if they wished to.
As the article explains, ExxonMobil was a victim of those very same markets, losing money in 2020. (While their gross profit was positive, their net income was negative.)
ExxonMobil has benefited from inflation, production decreases and other factors that are entirely beyond their control. They are not price gouging.
The accusations of price gouging are simply political ploys aimed at the very gullible public.
And then you go on to talk about isolated cases.
You contradict yourself in that post. So again, I question any.
In that occurrence, I was referring to any and all possible occurrences, not just by ExxonMobil, but any entity.
It is, of course, possible that some entities could be price gouging.
But even if so, further monetary inflation would just exacerbate the situation.
“When the people find they can vote themselves money, that will herald the end of the republic.”
… oft attributed to Benjamin Franklin
