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I really like Joe Biden

I know inflation is happening, but I don't blame the president. I think it's like a necessary evil to help support our country headed in the right direction. I actually voted for Trump twice, but I am glad that Joe Biden won. He's doing for our environment in a good way and I think that is important and something that I overlooked with Trump. He also pulled us out of Afghanistan. It may not have been the most graceful exit but I thought it was the right thing to do and a forceful and commanding exit nevertheless. I think he's handling the Covid well and I know there's a lot of contention about the vaccine, but I think he's doing a good moderate job of handling the situation.

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DeWayfarer · 61-69, M

When you say you are willing to tax the wealthy yet not put limits on corporations is when you have caused the inflation.

It's the corporations that are causing inflation because no political party wants to put limits on corporations.

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QuixoticSoul · 41-45, M

@DeWayfarer “The corporations” are not causing inflation. The entire world’s economy is convulsing.

We don’t run a command economy, we don’t have price controls - the prices are set by the ole invisible hand, and the potus has little to do with any of it.

DeWayfarer · 61-69, M

@QuixoticSoul he nor any political party don't want to. It could be done yet no one wants to!

Heck even China really doesn't "want" to yet in certain cases they do. And why china regulates Chinese corporations. Basically some are state own. Yet they really don't need to go that far to regulate them.

QuixoticSoul · 41-45, M

@DeWayfarer Free market is the cornerstone of our economic system 🤷‍♂️

By and large, this is a more efficient system than heavy state interference.

DeWayfarer · 61-69, M

@QuixoticSoul not when corporations are as greedy as they have been!

Look at the stock market for Pete's sake! It's never been higher not even under Trump! They are going to eventually cause their own crash! It can't continue going on up and up a up when the poor are hurting badly.

dancingtongue · 80-89, M

@QuixoticSoul But it is not a free market if you let oligarchies and monopolies to own and control everything, including the political system.

DeWayfarer · 61-69, M

@dancingtongue that as well.

QuixoticSoul · 41-45, M

@dancingtongue It's a fairly free market, which is the best system we've found for organizing the economy so far.

@DeWayfarer We expect them to be greedy, that's a feature, not a bug.

DeWayfarer · 61-69, M

@QuixoticSoul it's self destruction itself! Not just unfair! They will eventually destroy themselves.

dancingtongue · 80-89, M

@QuixoticSoul Greed is a virtue? Has religion evolved that far?

QuixoticSoul · 41-45, M

@dancingtongue Our economy operates on the profit motive and competition. We expect people to be greedy.

DeWayfarer · 61-69, M

@dancingtongue unfortunately there are those that take this to fanatical levels.

It's sad yet there are those that take money as their religion. 😔

dancingtongue · 80-89, M

@QuixoticSoul Two separate thoughts there: profit/competition are positive motivators for good results. Left to run rampant, both lead to greed and it becomes a race to the bottom which hurts everyone, including the greedy too blind to see how destructive it is. Mashing the two into a greed is a virtue philosophy is pure lunacy.

QuixoticSoul · 41-45, M

@dancingtongue Nobody said anything about virtue. Free markets do generate race to be bottom conditions - and when that refers to prices/inflation - that's a good thing.

Markets can also generate race to the bottom scenarios on the wage front, which is unpleasant - but that's not really the issue right now, in light of a historically strong labor market.

DeWayfarer · 61-69, M

@QuixoticSoul

Free markets do generate race to be bottom conditions - and when that refers to prices/inflation - that's a good thing.

Not for the workers! Never for the workers! They are the ones paying not the corporations!

QuixoticSoul · 41-45, M

@DeWayfarer Driving the prices down is good for the workers.

DeWayfarer · 61-69, M

@QuixoticSoul when over time has there been a steady decrease? OVER TIME!!!

dancingtongue · 80-89, M

@QuixoticSoul If the only way left to drive the prices down is to freeze or cut their wages, take away their benefits, and put them on tracking devices to keep them going at warp speed, how it is better for the workers?

QuixoticSoul · 41-45, M

@DeWayfarer There are lots of examples. TVs dropped in price about 100% over the last twenty years.

dancingtongue · 80-89, M

@QuixoticSoul Jobs going unfilled because wages and benefits are not enough to live on is a strong labor market? The corollary to constantly cutting wages to lower prices is that you also are cutting your potential markets because your own employees can no longer afford your products. A lesson Ford saw early on in his career when he raised wages for his assembly line workers so they could afford to buy his autos. To the great consternation of Wall Street.

DeWayfarer · 61-69, M

@QuixoticSoul sorry I don't get shipments directly from china without some first, second, third and so forth party handling! Because only that way is a TV cheaper.

dancingtongue · 80-89, M

@QuixoticSoul As technologies improved, the manufacturing processes became more automated to reduce labor costs, and ultimately the remaining manufacturing jobs were sent to Asia. Race to the bottom.

QuixoticSoul · 41-45, M

@dancingtongue Yes - in a weak labor market even lowest wage jobs are easily filled because people don't have a choice. A strong labor market tends to force wages up. The balance is skewed towards labor at the moment, though this is probably temporary.

QuixoticSoul · 41-45, M

@dancingtongue @DeWayfarer You asked me to demonstrate a race to the bottom in terms of prices 🤷‍♂️

I kind of doubt many televisions were made in the US twenty years ago too.

DeWayfarer · 61-69, M

@QuixoticSoul yet they cost far far less twenty years ago.

Your example only proves my point!

dancingtongue · 80-89, M

@QuixoticSoul And I pointed out out it was a race to the bottom for the workers left behind as well. Unchecked, the greed cuts both ways, not just on prices.

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