#greedflation — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #greedflation, aggregated by home.social.
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[edited for typos, etc.]
The answer to #CostOfLivingCrisis is, and always was, #HigherWages. #Corporation and #businesses will **always** equate *Productivity Increase* with workers working harder and will tie this to any wage increases. Because that is what #Grifters **Do**. They treat wage earners as *Commodities* and a *Cost* to doing business because **they can**. And workers have now heard that *narrative* so many times over the generations that they believe that **crap**.
Sourced from The Point Live
4 hours ago 11.08 AESTRoss Gittins gives Greg Jericho a shout out
Posted by Matt Grudnoff - Senior EconomistRoss Gittins’ article in the SMH today thanks Greg Jericho for blowing the whistle on the real cause of the cost-of-living crisis, wages.
Greg has been pointing out that while prices and profits have been going up, wages have not been keeping up. The amount of stuff that workers can buy is going backwards.
Ross wrote:
So I’m indebted to the Australia Institute’s Greg Jericho for being the country’s first economist to blow the whistle. He’s actually looked up the numbers and seen that, though businesses kept increasing their prices in the first two years following the COVID pandemic – March 2021 to March 2023 – the workers weren’t game to ask for a pay rise.
Ross also points out that when bosses say give us an improvement in productivity and we’ll give you a pay rise, they have it backwards. Higher wages now will encourage businesses to improve the productivity of there now more expensive workers.
The solution to the cost-of-living crisis is higher wages.”
#AusPo, #NeoLiberalEconomics #TrickleDownEconomics #AbuseOfWorkers #ClassWar #TaxTheRich #WageIncreasesNow #GregJeriocho #GreedFlation #noMoreBillionaires #JoinYourUnion #InUnity #TradeUnionsStrength
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A word or two (quoted from Prof. Richard Murphy) on the nonsense of increasing the official #CashRate to stymie anticipated #inflation stemming from external uncontrolled events. Here, the European Central Bank is the guilty party but it holds true for all Central Banks.
“This [ECB] move is meant to control inflation arising as a consequence of the war between the USA and Iran, as well as food shortages arising from that same war and drought. No one is suggesting there is excess demand in the Eurozone. However, inflation arising from excess demand, a phenomenon not seen in many economies for decades because so many people are having so many problems in making ends meet, is the only type of inflation that an interest rate rise can address.”
Not only do we know all of this, but so do the #CentralBanks (they’re not stupid).
“[…] increasing interest rates at this moment might be described as an act of economic illiteracy. It might also be described as class warfare based on economic aggression, because its purpose is, in reality, to deter those on wage income from seeking pay increases to maintain their economic positions, while those who profit from the price increases are left to enjoy their newfound and unearned riches.”
Economic illiteracy or calculated monetary intervention to maintain unemployment and shift more wealth into the pockets of those least in need? #Bankers are not stupid. They know. The #Oligarchs creates a #war and we all pay for it while they reap insane #profits from it. And the Bankers think: ‘Why not let them moke more profits through #GreedFlation?’ We’re all screwed on this path… time for a real change, for a change.
#Economics #TaxTheRich #NoMoreBillionaires #TaxRegimeChange #NeoLiberalEconomics #WealthInequity #Wealthredistribution #WorkersKeepPaying #JoinYourUnion #InUnity #AusPol
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Time for governments at all levels to get off their corporate donor sponsored arses and start doing the right thing for the population.