Inflation to nationalization
Have you ever noticed how a magician will dazzle you with one hand, having you look there, while the other hand does the real magic?
To compare pre pandemic profit levels to post levels to select economic sectors is never going to give fair comparisons.
When Dr. Fauci lied about C-19, backed by the CDC, the WHO and the Biden/Harris team, the world of business came to a halt. Hundred-of-thousands of small businesses (the backbone of the American economy) were deemed non-essential and shut down!
Outside of small rural towns, that meant only large global box stores remained open for business. So, it’s no surprise then, when corporations are given the opportunity to operate without competition, they would record record profits. To turn around and say, “Look they’re profiteering! They’re causing inflation!” …is slight-of-hand.
Mr. Toole sights the research of Groundworks, a progressive organization that supports student loan debt forgiveness (which would boost inflation) and supports public energy (Nationalization) over private energy companies: a socialist move that has always failed.
Let’s look at cherry picking numbers and how to report those numbers. Take the FTC report that in the first three quarter of 2023 a 7% increase in revenue occurred compared to an eight year earlier peak when revenue rose 5.6%.
An increase of 25%, Profiteering! Well, no, not really. We see an increase of 1.4% (7%-5.6%) in eight long years. And yes 1.4% is a 25% increase between those two “peaks”, NOT a 25% increase in total revenue for the first three quarters. But most people won’t do the math, and I think you’ll agree that 1.4% over 8 years isn’t profiteering.
Now regardless of your political standing, history has shown, and economist acknowledge, that printing fiat dollars (the inflation reduction act, the American recovery plan, billions for Ukraine, as those in FDR’s New Deal) are the biggest drivers of inflation! Let’s not be fooled again!
The Biden/Harris policies put us into this inflation mess. Harris has said she’ll place price controls on groceries: which failed in both Russia and Germany. Couple that with the increase in regulations on the energy sector via the New Green Scam, to the point of government control, in short, Nationalization! …oy vey!
We all remember that before the C-19 pandemic our economy was booming! Highest levels of employment across the board, wages were increasing, and most importantly, the backbone of our economy, small business startups were on the rise and mostly with minority ownership!
It was beautiful, we were all working together making America great for everyone!
Robert Edmundson Libby, Montana