4 ms·

Consolidation and oligopoly aren’t new in the past 4 years. What is new is the trillions of cash injected into money supply. Greed is constant. Consolidation s

Consolidation and oligopoly aren’t new in the past 4 years. What is new is the trillions of cash injected into money supply. Greed is constant. Consolidation started in the 90s and the same 4 grocery companies have owned the market for 15-20 years. They only have ability to increase prices because consumers have more cash to spend. They would have loved to do this 5 years ago, but random $30k household income families of 4 didn’t get $16k handed out to them. (Two $2k/person stimulus rounds in 2020 and 2021)

deleted 2y ago
[deleted]
dbspin 2y ago
This is happening cross nationally - and very few nations gave out covid payments similar to the US. Side node - this is just a strange lens, for most people in Ireland (where we did receive covid payments) they were making up for work which had evaporated. Why is it always assumed to be additional to income in the US?
- prepend 2y ago
  Not true actually. Many/most countries did massive increases in money supply. [0] I don’t know exactly how each country compares to the US and was only using the US because of others in thread and that’s what I know best. In the US it’s assumed to be additional income because you can measure money supply and see the increase. So it’s a correct assumption because there’s just much more cash. If it was replacement, then money supply would stay level. Also, in the US direct cash payments weren’t need based. Everyone got them despite income or necessity. Personally, I stayed employed, got overtime, and got $8k+ in direct cash deposits. Just an anecdote, but everyone I know got similar payments. So it always seemed odd to me that yuppie programmers got wads of cash. The rationale made sense as they needed to help people quickly and qualifying would slow things down. But this is a macro example of inflation drivers. So anyone with basic economics training would recognize this example. Arguing otherwise seems silly, without lots of evidence. Corporate greed is constant and universal. [0] https://www.investopedia.com/government-stimulus-and-relief-efforts-to-fight-the-covid-19-crisis-5113980 https://www.investopedia.com/government-stimulus-and-relief-...

deleted 2y ago

[deleted]

dbspin 2y ago

This is happening cross nationally - and very few nations gave out covid payments similar to the US. Side node - this is just a strange lens, for most people in Ireland (where we did receive covid payments) they were making up for work which had evaporated. Why is it always assumed to be additional to income in the US?

prepend 2y ago
Not true actually. Many/most countries did massive increases in money supply. [0] I don’t know exactly how each country compares to the US and was only using the US because of others in thread and that’s what I know best. In the US it’s assumed to be additional income because you can measure money supply and see the increase. So it’s a correct assumption because there’s just much more cash. If it was replacement, then money supply would stay level. Also, in the US direct cash payments weren’t need based. Everyone got them despite income or necessity. Personally, I stayed employed, got overtime, and got $8k+ in direct cash deposits. Just an anecdote, but everyone I know got similar payments. So it always seemed odd to me that yuppie programmers got wads of cash. The rationale made sense as they needed to help people quickly and qualifying would slow things down. But this is a macro example of inflation drivers. So anyone with basic economics training would recognize this example. Arguing otherwise seems silly, without lots of evidence. Corporate greed is constant and universal. [0] https://www.investopedia.com/government-stimulus-and-relief-efforts-to-fight-the-covid-19-crisis-5113980 https://www.investopedia.com/government-stimulus-and-relief-...