Greedy CEOs: “Inflation is Our Friend.”

[MotorCityRadioFreak]

CEO’s openly brag about using inflation as a means to charge customers more for essential items.


https://youtube.com/shorts/psYyiu9j1VI?feature=share

[audiophile]

Covid and the response caused it.

Biden was in the best position to deal with it, but he called it temporary.

Biden didn't deal with because he didn't recognize the problem at all.

The first step was admitting it and dealing with supply-side problems.

Inflation is never temporary, anyone that is not an idiot knows that...

[TC Talks]

The Covid and the response caused it.

Biden was in the best position to deal with it, but he called it temporary.

Inflation is never temporary, anyone that is not an idiot knows that.

Patently false. Corporations chose to gouge Americans when a global pandemic was going on. You really have lost it dude... I bet you're confused about prop 3 too...

[audiophile]

Not exactly, they hopped on the bandwagon because everyone is doing it!

Inflation like is a snowball, as it rolls downhill it gets bigger and bigger.

You had president saying it was temporary, but I knew he was very wrong - and he did nothing until it was too late.

PS You lost it a long time ago, so you have no cred here anyway with a majority of BB users.

[Rate This]

Not exactly, they hopped on the bandwagon because everyone is doing it!

Inflation like is a snowball, as it rolls downhill it gets bigger and bigger.

You had president saying it was temporary, but I knew he was very wrong - and he did nothing until it was too late.

PS You lost it a long time ago, so you have no cred here anyway with a majority of BB users.

Have you taken a survey of “BB users”?

Unfortunately there really isn’t a hell of a lot the president can do in a global economy to fight global inflation.

[Bryce]

Unfortunately there really isn’t a hell of a lot the president can do in a global economy to fight global inflation.

Especially when he thinks it was caused, as he said, by the war in Iraq.

And thinks..."We (the U.S.) have the lowest inflation rate of almost any major country in the world."

When a quick check shows that 16 of the G20 countries have lower inflation rates than the U.S.

[Rate This]

Unfortunately there really isn’t a hell of a lot the president can do in a global economy to fight global inflation.

Especially when he thinks it was caused, as he said, by the war in Iraq.

And thinks..."We (the U.S.) have the lowest inflation rate of almost any major country in the world."

When a quick check shows that 16 of the G20 countries have lower inflation rates than the U.S.

Ok smartass… what do you propose be done to immediately cut inflation outside of the rate hikes.

[audiophile]

LOL, that was good timing Bryce.

I would have been looking into anti-trust filings. This is one legit tool when something gets too big and pricing becomes unfair.

[Deleted User 9015]

Inflation has gotten bad and Biden has tools to mitigate it but he is old, stubborn, and not as bright as he once was.

He did a shitty job with the ports to improve supply chain to be honest, while energy prices aren't totally in his control, he could reduce the rise in a couple of ways, not just by authorizing the release of barrels, and he could push a reduction in some useless tariffs. A few of the biggest problems with inflation that I think are most important to consider are that it reduces the value of savings, so people in the workforce are going to have to stay in the workforce longer if the projection is that inflation will continue to be an issue year-to-year-to-year and that workers see less value in their pay relative to their expenses.

Wages are growing at about 50-66% of inflation, so this is a real problem for workers. Any CEO who says inflation is their friend doesn't understand that when people can buy less, they will need to make more somehow. If that means workers have to spend more time on outside gigs to make ends meet or that their people are going to quit, because businesses spend more to recruit than retain, then they will see an erosion of their talent pool.

LOL, that was good timing Bryce.

[Bryce]

Ok smartass… what do you propose be done to immediately cut inflation outside of the rate hikes.

Well, the first step to fixing a problem is admitting you have one.

The free money give away, which was one of the causes, cat is out of the bag and can't be fixed. Biden doesn't view it as a cause anyway.

Me, the first thing I would do is open up drilling at the locations that oil is easily assessable. Second, temporarily suspend EPA regulations to make it easier and profitable to build three additional refineries. Encourage more natural gas production too.

One BIG problem is the high cost of diesel fuel and it's effect on prices. An even bigger problem on the horizon is a shortage of diesel fuel. That will effect the economy in a very negative way. No one seems to be talking or doing anything to head that problem off at the pass. Sort of like the baby formula situation.

It would blow your mind how quickly inflation would drop once we returned to energy independence and an oil exporter rather than importer.

[Rate This]

Ok smartass… what do you propose be done to immediately cut inflation outside of the rate hikes.

Well, the first step to fixing a problem is admitting you have one.

The free money give away, which was one of the causes, cat is out of the bag and can't be fixed. Biden doesn't view it as a cause anyway.

Me, the first thing I would do is open up drilling at the locations that oil is easily assessable. Second, temporarily suspend EPA regulations to make it easier and profitable to build three additional refineries. Encourage more natural gas production too.

One BIG problem is the high cost of diesel fuel and it's effect on prices. An even bigger problem on the horizon is a shortage of diesel fuel. That will effect the economy in a very negative way. No one seems to be talking or doing anything to head that problem off at the pass. Sort of like the baby formula situation.

It would blow your mind how quickly inflation would drop once we returned to energy independence and an oil exporter rather than importer.

Our refining capacity is tuned to refine foreign oil into gasoline. We refine plenty of oil… but we export it.

It takes YEARS to go from let’s drill to here’s some oil. It also takes YEARS to build a refinery and open it. Not only that but people aren’t going to do it at a loss. We lost all that fracking oil because it’s not profitable enough at this point to make it worth their while.

You have a nice fantasy there but as usual it isn’t that simple.

[km1125]

Ok smartass… what do you propose be done to immediately cut inflation outside of the rate hikes.

Well, the first step to fixing a problem is admitting you have one.

The free money give away, which was one of the causes, cat is out of the bag and can't be fixed. Biden doesn't view it as a cause anyway.

Me, the first thing I would do is open up drilling at the locations that oil is easily assessable. Second, temporarily suspend EPA regulations to make it easier and profitable to build three additional refineries. Encourage more natural gas production too.

One BIG problem is the high cost of diesel fuel and it's effect on prices. An even bigger problem on the horizon is a shortage of diesel fuel. That will effect the economy in a very negative way. No one seems to be talking or doing anything to head that problem off at the pass. Sort of like the baby formula situation.

It would blow your mind how quickly inflation would drop once we returned to energy independence and an oil exporter rather than importer.

And then you have Whitmer saying she "can't do anything about inflation" but then talks about more free government giveaways. SOMEONE has to pay for her "giveaways" and that ends up being ALL OF US.

[Deleted User 9015]

Ok smartass… what do you propose be done to immediately cut inflation outside of the rate hikes.

Me, the first thing I would do is open up drilling at the locations that oil is easily assessable. Second, temporarily suspend EPA regulations to make it easier and profitable to build three additional refineries. Encourage more natural gas production too.

lol marginal impact at best

[Bryce]

lol marginal impact at best

Baloney. The cost of fuel directly impacts the price of everything from production to delivery. Lower fuel costs because of an adequate supply without relying on outside sources would have an immediate impact.

[Deleted User 9015]

lol marginal impact at best

Baloney. The cost of fuel directly impacts the price of everything from production to delivery. Lower fuel costs because of an adequate supply without relying on outside sources would have an immediate impact.

Energy costs are the main issue driving inflation. That is correct. But, taking crude oil for example, we produce almost as much now as we did pre-pandemic and we continue to increase, and we are producing more than twice the amount we did prior to the global meltdown in 2008.
https://www.eia.gov/dnav/pet/hist/LeafH ... RFPUS2&f=M

These oil companies have also shot us in the foot in terms of accomplishing what you want them to accomplish. Sitting on permits until prices rise, not warehousing materials that they knew they would need post-pandemic, laying off people and not having the staff to man and administer permitted areas are all things these companies have done, so its created a major lead time to getting oil to market. But why rush when profits are so high? They know they can blame "big government" and "regulation", which also holds a role, but its not like the oil companies are doing any favors.

Also, your argument makes a bad assumption. Oil quality. Please see the below because it explains the problem better than I could.
https://www.api.org/news-policy-and-iss ... export-oil

So no, there could not be an immediate impact, no, we would still rely on outside sources, and no, the overall impact would such that inflation would not be abated.