▲ 857 ▼ ‘Stop the price-gouging’: Biden hits corporations over high consumer costs (www.cnbc.com) submitted 2 years ago by return2ozma@lemmy.world to c/news@lemmy.world 225 comments fedilink hide all child comments
[–] MsPenguinette@lemmy.world 286 points 2 years ago (15 children) Cool. So what’s he gonna do about it? Or was this it? permalink fedilink source hideshow 19 child comments replies: [–] iBaz@lemmy.world 104 points 2 years ago (12 children) What can he do about it? We live in a free market society. All he can do is keep talking about it and hope the people get the message. Rebellion will start at the consumer level and go up, not the other way around. Main problem is the millions of people that rely on Fox for their news. permalink fedilink source parent hideshow 16 child comments replies: [–] WeeSheep@lemmy.world 154 points 2 years ago (3 children) Use the anti monopoly laws we have in place to prevent price gouging from lack of competition permalink fedilink source parent hideshow 6 child comments replies: [–] protist@mander.xyz 139 points 2 years ago* (1 child) He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly. https://www.justice.gov/atr/antitrust-case-filings permalink fedilink source parent hideshow 2 child comments replies: [–] 4am@lemm.ee 42 points 2 years ago (4 children) Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed. permalink fedilink source parent hideshow 7 child comments replies: [–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent [–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply) [–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent load more comments (1 reply) [–] FuglyDuck@lemmy.world 34 points 2 years ago lets add taxing the shit out of people who do this to the list. permalink fedilink source parent [–] prole@sh.itjust.works 6 points 2 years ago (1 child) How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general? permalink fedilink source parent hideshow 2 child comments replies: [–] money_loo@1337lemmy.com 6 points 2 years ago The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter. You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking. People just like to shout at the wind, it seems. permalink fedilink source parent [–] Deiv@lemmy.ca 20 points 2 years ago (1 child) Damn there is nothing the government can do. Sorry guys :( You'll just have to buy less food, and maybe then the corporations will get the hint! Regulations? Laws against price gauging? Naw, they can't do that. It's the consumers that are at fault! permalink fedilink source parent hideshow 2 child comments replies: [–] iBaz@lemmy.world 13 points 2 years ago (1 child) Do you think Biden makes the laws? Did you fail civics class? I said nothing about enacting laws making what these companies are doing illegal, I only said Biden can’t do much about it. permalink fedilink source parent hideshow 2 child comments replies: [–] MsPenguinette@lemmy.world 14 points 2 years ago (1 child) He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it permalink fedilink source parent hideshow 2 child comments replies: [–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies) [–] graymess@lemmy.world 5 points 2 years ago (6 children) Price controls are well within the president's powers. It's not that radical of a concept. permalink fedilink source parent hideshow 8 child comments replies: [–] Cethin@lemmy.zip 12 points 2 years ago (1 child) It's within congress's powers for sure. I don't think the president. Congress has done it in the past though, so they for sure can again. permalink fedilink source parent hideshow 1 child comment load more comments (1 reply) [–] money_loo@1337lemmy.com 7 points 2 years ago Why is this upvoted? No, the president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances. permalink fedilink source parent load more comments (4 replies) [–] Powerpoint@lemmy.ca 4 points 2 years ago (1 child) The US was pretty good about taxing corporations before Reagan permalink fedilink source parent hideshow 1 child comment load more comments (1 reply) load more comments (8 replies) [–] pan_troglodytes@programming.dev 27 points 2 years ago* (3 children) that was basically it. short of siccing the irs on them there's not a lot the executive branch can do about it... of course that'd kill the golden goose named "campaign contributions", so it wont happen permalink fedilink source parent hideshow 4 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago (1 child) siccing the IRS on them Nothing the IRS can do, either. permalink fedilink source parent hideshow 2 child comments replies: [–] Natanael@slrpnk.net 8 points 2 years ago (1 child) Windfall taxes is a thing they can use. If companies raise their prices too fast the excess profit gets taxed at a higher rate. permalink fedilink source parent hideshow 2 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago Need the House for that tho. permalink fedilink source parent load more comments (2 replies) [–] takeda@lemmy.world 24 points 2 years ago (1 child) It will be harder to pass new laws in the current Congress, but he still has control over the executive branch. Hopefully some existing laws could be used. permalink fedilink source parent hideshow 2 child comments replies: [–] mosiacmango@lemm.ee 53 points 2 years ago* (1 child) He appointed the most aggressive FTC head in decades who is using the antitrust law we have to currently go after Google and Amazon. She's also fighting a merger between Kroger and Albertsons, which would drastically raise grocery prices. The FTC is also fighting the hedge fund buyout of preciously independent healthcare clinics, which has massively ramped up medical costs. Not to mention breaking the real estate agent fee monopoly. His executive branch has been busy as hell trying to help people. permalink fedilink source parent hideshow 2 child comments replies: [–] Locuralacura@lemm.ee 28 points 2 years ago (1 child) Don't tell us facts. We've already decided to believe whatever the fuck we want regardless. /s permalink fedilink source parent hideshow 2 child comments replies: [–] whofearsthenight@lemm.ee 6 points 2 years ago Biden should be waving the magic wand! I am mad that he is not doing this! permalink fedilink source parent [–] timewarp@lemmy.world 14 points 2 years ago He'll hire their execs to run various government agencies permalink fedilink source parent load more comments (11 replies)
[–] iBaz@lemmy.world 104 points 2 years ago (12 children) What can he do about it? We live in a free market society. All he can do is keep talking about it and hope the people get the message. Rebellion will start at the consumer level and go up, not the other way around. Main problem is the millions of people that rely on Fox for their news. permalink fedilink source parent hideshow 16 child comments replies: [–] WeeSheep@lemmy.world 154 points 2 years ago (3 children) Use the anti monopoly laws we have in place to prevent price gouging from lack of competition permalink fedilink source parent hideshow 6 child comments replies: [–] protist@mander.xyz 139 points 2 years ago* (1 child) He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly. https://www.justice.gov/atr/antitrust-case-filings permalink fedilink source parent hideshow 2 child comments replies: [–] 4am@lemm.ee 42 points 2 years ago (4 children) Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed. permalink fedilink source parent hideshow 7 child comments replies: [–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent [–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply) [–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent load more comments (1 reply) [–] FuglyDuck@lemmy.world 34 points 2 years ago lets add taxing the shit out of people who do this to the list. permalink fedilink source parent [–] prole@sh.itjust.works 6 points 2 years ago (1 child) How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general? permalink fedilink source parent hideshow 2 child comments replies: [–] money_loo@1337lemmy.com 6 points 2 years ago The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter. You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking. People just like to shout at the wind, it seems. permalink fedilink source parent [–] Deiv@lemmy.ca 20 points 2 years ago (1 child) Damn there is nothing the government can do. Sorry guys :( You'll just have to buy less food, and maybe then the corporations will get the hint! Regulations? Laws against price gauging? Naw, they can't do that. It's the consumers that are at fault! permalink fedilink source parent hideshow 2 child comments replies: [–] iBaz@lemmy.world 13 points 2 years ago (1 child) Do you think Biden makes the laws? Did you fail civics class? I said nothing about enacting laws making what these companies are doing illegal, I only said Biden can’t do much about it. permalink fedilink source parent hideshow 2 child comments replies: [–] MsPenguinette@lemmy.world 14 points 2 years ago (1 child) He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it permalink fedilink source parent hideshow 2 child comments replies: [–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies) [–] graymess@lemmy.world 5 points 2 years ago (6 children) Price controls are well within the president's powers. It's not that radical of a concept. permalink fedilink source parent hideshow 8 child comments replies: [–] Cethin@lemmy.zip 12 points 2 years ago (1 child) It's within congress's powers for sure. I don't think the president. Congress has done it in the past though, so they for sure can again. permalink fedilink source parent hideshow 1 child comment load more comments (1 reply) [–] money_loo@1337lemmy.com 7 points 2 years ago Why is this upvoted? No, the president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances. permalink fedilink source parent load more comments (4 replies) [–] Powerpoint@lemmy.ca 4 points 2 years ago (1 child) The US was pretty good about taxing corporations before Reagan permalink fedilink source parent hideshow 1 child comment load more comments (1 reply) load more comments (8 replies)
[–] WeeSheep@lemmy.world 154 points 2 years ago (3 children) Use the anti monopoly laws we have in place to prevent price gouging from lack of competition permalink fedilink source parent hideshow 6 child comments replies: [–] protist@mander.xyz 139 points 2 years ago* (1 child) He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly. https://www.justice.gov/atr/antitrust-case-filings permalink fedilink source parent hideshow 2 child comments replies: [–] 4am@lemm.ee 42 points 2 years ago (4 children) Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed. permalink fedilink source parent hideshow 7 child comments replies: [–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent [–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply) [–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent load more comments (1 reply) [–] FuglyDuck@lemmy.world 34 points 2 years ago lets add taxing the shit out of people who do this to the list. permalink fedilink source parent [–] prole@sh.itjust.works 6 points 2 years ago (1 child) How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general? permalink fedilink source parent hideshow 2 child comments replies: [–] money_loo@1337lemmy.com 6 points 2 years ago The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter. You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking. People just like to shout at the wind, it seems. permalink fedilink source parent
[–] protist@mander.xyz 139 points 2 years ago* (1 child) He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly. https://www.justice.gov/atr/antitrust-case-filings permalink fedilink source parent hideshow 2 child comments replies: [–] 4am@lemm.ee 42 points 2 years ago (4 children) Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed. permalink fedilink source parent hideshow 7 child comments replies: [–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent [–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply) [–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent load more comments (1 reply)
[–] 4am@lemm.ee 42 points 2 years ago (4 children) Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed. permalink fedilink source parent hideshow 7 child comments replies: [–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent [–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply) [–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent load more comments (1 reply)
[–] Orbituary@lemmy.world 21 points 2 years ago (1 child) Up like a rocket down like a parachute. permalink fedilink source parent hideshow 2 child comments replies: [–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent
[–] TangledHyphae@lemmy.world 5 points 2 years ago (1 child) Except the unfortunate part is that it is always increasing, it's just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we're adding 2-3% on TOP of the already-inflated costs. But that's not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it's going to eventually cause civil unrest on a larger scale. permalink fedilink source parent hideshow 2 child comments replies: [–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent
[–] Orbituary@lemmy.world 2 points 2 years ago (1 child) That's exactly the point of my analogy. Wtf. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent
[–] ryathal@sh.itjust.works 5 points 2 years ago Parachutes come down, Inflation just goes up slower. permalink fedilink source parent
[–] killeronthecorner@lemmy.world 18 points 2 years ago (1 child) He picked two points in time and described a number that was fixed at each instance, so decreased works fine. permalink fedilink source parent hideshow 2 child comments replies: [–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply)
[–] ryathal@sh.itjust.works 2 points 2 years ago (3 children) But it didn't decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation. permalink fedilink source parent hideshow 5 child comments replies: [–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies) [–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent load more comments (1 reply)
[–] candybrie@lemmy.world 11 points 2 years ago (4 children) If you're accelerating slower, you've decreased your acceleration. permalink fedilink source parent hideshow 4 child comments load more comments (4 replies)
[–] money_loo@1337lemmy.com 3 points 2 years ago Inflation is a measure of acceleration Oh look at that, you accidentally stumbled onto your own answer for why measuring a deceleration counts as a decrease, good for you! permalink fedilink source parent
[–] protist@mander.xyz 11 points 2 years ago* (1 child) Burn the pedant! I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased permalink fedilink source parent hideshow 2 child comments replies: [–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent
[–] captainlezbian@lemmy.world 3 points 2 years ago Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it permalink fedilink source parent
[–] FuglyDuck@lemmy.world 34 points 2 years ago lets add taxing the shit out of people who do this to the list. permalink fedilink source parent
[–] prole@sh.itjust.works 6 points 2 years ago (1 child) How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general? permalink fedilink source parent hideshow 2 child comments replies: [–] money_loo@1337lemmy.com 6 points 2 years ago The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter. You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking. People just like to shout at the wind, it seems. permalink fedilink source parent
[–] money_loo@1337lemmy.com 6 points 2 years ago The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter. You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking. People just like to shout at the wind, it seems. permalink fedilink source parent
[–] Deiv@lemmy.ca 20 points 2 years ago (1 child) Damn there is nothing the government can do. Sorry guys :( You'll just have to buy less food, and maybe then the corporations will get the hint! Regulations? Laws against price gauging? Naw, they can't do that. It's the consumers that are at fault! permalink fedilink source parent hideshow 2 child comments replies: [–] iBaz@lemmy.world 13 points 2 years ago (1 child) Do you think Biden makes the laws? Did you fail civics class? I said nothing about enacting laws making what these companies are doing illegal, I only said Biden can’t do much about it. permalink fedilink source parent hideshow 2 child comments replies: [–] MsPenguinette@lemmy.world 14 points 2 years ago (1 child) He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it permalink fedilink source parent hideshow 2 child comments replies: [–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies)
[–] iBaz@lemmy.world 13 points 2 years ago (1 child) Do you think Biden makes the laws? Did you fail civics class? I said nothing about enacting laws making what these companies are doing illegal, I only said Biden can’t do much about it. permalink fedilink source parent hideshow 2 child comments replies: [–] MsPenguinette@lemmy.world 14 points 2 years ago (1 child) He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it permalink fedilink source parent hideshow 2 child comments replies: [–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies)
[–] MsPenguinette@lemmy.world 14 points 2 years ago (1 child) He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it permalink fedilink source parent hideshow 2 child comments replies: [–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies)
[–] cole@lemdro.id 14 points 2 years ago (7 children) I'm sure the GOP-led house would be very receptive to that permalink fedilink source parent hideshow 7 child comments load more comments (7 replies)
[–] graymess@lemmy.world 5 points 2 years ago (6 children) Price controls are well within the president's powers. It's not that radical of a concept. permalink fedilink source parent hideshow 8 child comments replies: [–] Cethin@lemmy.zip 12 points 2 years ago (1 child) It's within congress's powers for sure. I don't think the president. Congress has done it in the past though, so they for sure can again. permalink fedilink source parent hideshow 1 child comment load more comments (1 reply) [–] money_loo@1337lemmy.com 7 points 2 years ago Why is this upvoted? No, the president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances. permalink fedilink source parent load more comments (4 replies)
[–] Cethin@lemmy.zip 12 points 2 years ago (1 child) It's within congress's powers for sure. I don't think the president. Congress has done it in the past though, so they for sure can again. permalink fedilink source parent hideshow 1 child comment load more comments (1 reply)
[–] money_loo@1337lemmy.com 7 points 2 years ago Why is this upvoted? No, the president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances. permalink fedilink source parent
[–] Powerpoint@lemmy.ca 4 points 2 years ago (1 child) The US was pretty good about taxing corporations before Reagan permalink fedilink source parent hideshow 1 child comment load more comments (1 reply)
[–] pan_troglodytes@programming.dev 27 points 2 years ago* (3 children) that was basically it. short of siccing the irs on them there's not a lot the executive branch can do about it... of course that'd kill the golden goose named "campaign contributions", so it wont happen permalink fedilink source parent hideshow 4 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago (1 child) siccing the IRS on them Nothing the IRS can do, either. permalink fedilink source parent hideshow 2 child comments replies: [–] Natanael@slrpnk.net 8 points 2 years ago (1 child) Windfall taxes is a thing they can use. If companies raise their prices too fast the excess profit gets taxed at a higher rate. permalink fedilink source parent hideshow 2 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago Need the House for that tho. permalink fedilink source parent load more comments (2 replies)
[–] SCB@lemmy.world 10 points 2 years ago (1 child) siccing the IRS on them Nothing the IRS can do, either. permalink fedilink source parent hideshow 2 child comments replies: [–] Natanael@slrpnk.net 8 points 2 years ago (1 child) Windfall taxes is a thing they can use. If companies raise their prices too fast the excess profit gets taxed at a higher rate. permalink fedilink source parent hideshow 2 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago Need the House for that tho. permalink fedilink source parent
[–] Natanael@slrpnk.net 8 points 2 years ago (1 child) Windfall taxes is a thing they can use. If companies raise their prices too fast the excess profit gets taxed at a higher rate. permalink fedilink source parent hideshow 2 child comments replies: [–] SCB@lemmy.world 10 points 2 years ago Need the House for that tho. permalink fedilink source parent
[–] SCB@lemmy.world 10 points 2 years ago Need the House for that tho. permalink fedilink source parent
[–] takeda@lemmy.world 24 points 2 years ago (1 child) It will be harder to pass new laws in the current Congress, but he still has control over the executive branch. Hopefully some existing laws could be used. permalink fedilink source parent hideshow 2 child comments replies: [–] mosiacmango@lemm.ee 53 points 2 years ago* (1 child) He appointed the most aggressive FTC head in decades who is using the antitrust law we have to currently go after Google and Amazon. She's also fighting a merger between Kroger and Albertsons, which would drastically raise grocery prices. The FTC is also fighting the hedge fund buyout of preciously independent healthcare clinics, which has massively ramped up medical costs. Not to mention breaking the real estate agent fee monopoly. His executive branch has been busy as hell trying to help people. permalink fedilink source parent hideshow 2 child comments replies: [–] Locuralacura@lemm.ee 28 points 2 years ago (1 child) Don't tell us facts. We've already decided to believe whatever the fuck we want regardless. /s permalink fedilink source parent hideshow 2 child comments replies: [–] whofearsthenight@lemm.ee 6 points 2 years ago Biden should be waving the magic wand! I am mad that he is not doing this! permalink fedilink source parent
[–] mosiacmango@lemm.ee 53 points 2 years ago* (1 child) He appointed the most aggressive FTC head in decades who is using the antitrust law we have to currently go after Google and Amazon. She's also fighting a merger between Kroger and Albertsons, which would drastically raise grocery prices. The FTC is also fighting the hedge fund buyout of preciously independent healthcare clinics, which has massively ramped up medical costs. Not to mention breaking the real estate agent fee monopoly. His executive branch has been busy as hell trying to help people. permalink fedilink source parent hideshow 2 child comments replies: [–] Locuralacura@lemm.ee 28 points 2 years ago (1 child) Don't tell us facts. We've already decided to believe whatever the fuck we want regardless. /s permalink fedilink source parent hideshow 2 child comments replies: [–] whofearsthenight@lemm.ee 6 points 2 years ago Biden should be waving the magic wand! I am mad that he is not doing this! permalink fedilink source parent
[–] Locuralacura@lemm.ee 28 points 2 years ago (1 child) Don't tell us facts. We've already decided to believe whatever the fuck we want regardless. /s permalink fedilink source parent hideshow 2 child comments replies: [–] whofearsthenight@lemm.ee 6 points 2 years ago Biden should be waving the magic wand! I am mad that he is not doing this! permalink fedilink source parent
[–] whofearsthenight@lemm.ee 6 points 2 years ago Biden should be waving the magic wand! I am mad that he is not doing this! permalink fedilink source parent
[–] timewarp@lemmy.world 14 points 2 years ago He'll hire their execs to run various government agencies permalink fedilink source parent