Are Corporations Using Inflation As Cover To Raise Prices?

[@BlitzkriegOmega]

I just went out to run errands today. I live in Southern NJ. Gas was $4.75/gal at the cheapest. my usual "$30 of the Regular" didn't even get me half a tank anymore. Most of the Groceries I've picked up have been getting smaller and more expensive. the Popsicles I always buy to stave off the effectively 112-degree weather we're suffering at the time I'm typing this have shrunken by what looks like a third of their usual size, AND they were a whole dollar more expensive to buy. now expand this discrepancy to the entire shopping cart. it piles on fast. I capped this off by stopping at McDonalds for Lunch. everything on the menu has gone up by at least a dollar. my Burger-Fries-Drink combo that's never costed me more than $10 was now nearly $12. I guess I won't be eating out this summer, because when McDonalds is as expensive as Five Guys, something's *VERY* wrong. How is anyone supposed to subsist in this environment, nevermind thrive? We're paid jack-shit, everything's becoming unaffordable, anyone currently under 40 is statistically likely to never own a home in their lifetime.

[@ronald3419]

I'm old enough to remember my father's usual $2 of regular and that was full service, years before self service came along. If McDonald's is as expensive as Five Guys, then it's time to just go to Five Guys or else start cooking at home again.

[@coleengoodell7523]

Yes, I've noticed changes in almost all of my regular food purchases. Even soups that are supposed to be chunky have gotten thinner. Sizes have shrunk and prices have of course increased. It's interesting that the manufacturers appear to be able to afford the cost of packaging changes. And at the same time are reducing the quality of the product.

[@dioxideuniversal]

Shrinkflation is absolutely insidious and compounds the harm of inflation..Now it isn't just hitting your wallet more--it's also hitting you extra on fuel because now you have to make trips more often to replenish them. Just one of a million things that needs more regulation.

[@farahshabani3976]

You’re not only a great economist, a man of conscience, super knowledgeable about how the system works, you’re an artist. Thanks for enlightening us!

[@halo_girl_2434]

How is this man smart? He's complaining about an increase in prices when his solutions would increase the cost of running a business which would directly translate to increased prices as studies have shown time and time again. And his man complains about the $1.7 trillion increase and lack of competition that both come directly from his party shutting down economic activity and driving thousands of businesses into shutting down and bankruptcy. His complaints are from problems that he caused.

[@deadwingdomain]

@@halo_girl_2434 your still running on broken logic. Try to learn a little more. Also, I'd add. Your sympathy for the employer is unfounded. They turn record profits while our pay slumps. Your entire perspective is perverse to the rest of us. A company can write off its losses. We cant...

[@sebastianbrodkin9156]

@@deadwingdomain companies are free to pay wage or price however much they want. You dont have to accept neither. Start a business yourself if its so easy to do things.

[@sebastianbrodkin9156]

@Farah Shabani youre only getting the democrat view on economy/inflation. Which i view to be wrong. I recommend listening to the austrian economics/free market perspective of whats been happening.

[@farahshabani3976]

@@sebastianbrodkin9156 What matters to me are facts not the politics of who presents them. Are you denying the fact that we have a corporate-centric economy vs. people-centric economy, or the fact that corporations don’t pay their fair share of taxes, or the middle class is being wiped out, or our government policies on either side of the isle benefit the rich and powerful?

[@MSPWebs]

Robert… you are correct… and my masters MBA thesis was exactly about this trend. It all comes back to Reagan and trickle down Econ…. Which is a sham…. Thank you for your well thought out comments.

[@slclines]

exactly!!!

[@dogleggedhades0]

Do you have a link to the thesis? Sounds interesting to read

[@MSPWebs]

@@dogleggedhades0 Dude…. It was 30 years ago. I’m not sure, but I will look. Yeah, I’m old.

[@MSPWebs]

Nothing compares to getting a like from the master himself…. Thanks Robert Reich for the love…..

[@Hoffman-Creations]

I can attest to that. Things like the “lumber shortage” are being used at places like Home Depot and Lowe’s (I worked at Lowes and looked at the reports while moving files to boxes and sending some of them on to offsite facility). They’re making more now on things like lumber than they ever were before and playing a game of runaway chicken raising the price every week or two.

[@jamesmorton7881]

27 May 1996, interview with Charlie Rose, USA SAGAN: My feeling, Charlie, is that it's not that pseudoscience and superstition and New Age so-called "beliefs" and fundamentalist zealotry are something new. They've been with us for as long as we've been human. But we live in an age based on science and technology, with formidable technological powers. ROSE: Science and technology are propelling us forward at accelerating rates. SAGAN: That's right. And if we don't understand it, and by "we" I mean "the general public," if it's something that, "Oh, I'm not good at that, I don't know anything about it," then who is making all the decisions about science and technology that are going to determine what kind of future our children live in? Just some members of Congress? But there's no more than a handful of members of Congress with any background in science at all. And the Republican Congress has just abolished its own Office of Technology Assessment-the organization that gave them bipartisan, competent advice on science and technology. They say, "We don't want to know. Don't tell us about science and technology." ROSE: Surprising. What's the danger of all this? I mean, this is not the thing that... SAGAN: There's two kinds of dangers. One is what I just talked about. That we've arranged a society based on science and technology in which nobody understands anything about science and technology, and this combustible mixture of ignorance and power, sooner or later, is going to blow up in our faces. I mean, who is running the science and technology in a democracy if the people don't know anything about it? And the second reason that I'm worried about this is that science is more than a body of knowledge. It's a way of thinking. A way of skeptically interrogating the universe with a fine understanding of human fallibility. If we are not able to ask skeptical questions, to interrogate those who tell us that something is true, to be skeptical of those in authority, then we're up for grabs for the next charlatan political or religious who comes ambling along. It's a thing that Jefferson laid great stress on. It wasn't enough, he said, to enshrine some rights in a Constitution or a Bill of Rights. The people had to be educated, and they had to practice their skepticism and their education. Oherwise we don't run the government-the government runs us.

[@MagnoliaPantherWoman]

😙🌬️😙🌬️😙🌬️ Please, if you can do so safely. Solidarity!

[@joshm7279]

Robert Reich is a moron who is literally wrong about every economic prediction and analysis he ever says... The only person dumber is Paul krugman... The fact that you listen to this bozo proves how brainwashed Democrat voters are... The only ppl printing money are the federal government you cant spend 7 trillion in bidens first yr and keep interest rates to 0 and say ohhh it's the greedy corporations fault... Reich knows this he's just banking on ppl like you having severe brain damage so you'd believe him

[@Retr0racin]

I can attest to that I had to buy 64 sheets of 3/4 plywood freaking wood cost more than the labor on my new roof.

[@Raidersfan-gn7zo]

Reich and Wolff are very informative and I enjoy and learn a lot from them, including the fact that billionaires are the enemy of the working class!

[@edwinamendelssohn5129]

Couple of boring socialists

[@davidlafleche1142]

Socialism always inflates the cost of living.

[@joshm7279]

Robert Reich is a moron who is literally wrong about every economic prediction and analysis he ever says... The only person dumber is Paul krugman... The fact that you listen to this bozo proves how brainwashed Democrat voters are... The only ppl printing money are the federal government you cant spend 7 trillion in bidens first yr and keep interest rates to 0 and say ohhh it's the greedy corporations fault... Reich knows this he's just banking on ppl like you having severe brain damage so you'd believe him

[@mikek4443]

unfortunately corporate America has done an excellent job of villifying unions to the point that most poor Americans see them as the enemy rather than its savior.

[@MTips18]

That's a fact. People try to tell me being a union member is bad for me......

[@mikek4443]

@@MTips18 yep, look at every movie or television show, union leaders are always mobsters, corporate America has done it's job well.

[@lacijohnson400]

@@MTips18 because it is. Why would you force a business to meet to your demands when you can just go work somewhere else?

[@lot110]

dumbass you are the product at any business you deserve the profit! All businessess need to be owned by the employees who actually make the shit!

[@Avant402]

Yes, I have been telling my friends for years, the rich get richer and the poor get poorer! Professor Reich explained it beautifully!!

[@grmpEqweer]

Wealth is being bled out of the working class. The top 10% have 80% of our country's wealth, and that's up from 75%. *If you can't buy a politician, you're one of us.* You're not a temporarily embarrassed billionaire. We can struggle for economic justice together and win. Or you can keep losing by yourself.

[@jacotaco]

According to the federal reserve, the top 10% had 70% of wealth in Q4 of 2021, the latest data they have available. Still too much, but be accurate in your numbers. No place for hyperbole in truth.

[@joshm7279]

Wealth is being bled out by politicians like biden spending 7 trillion in his first yr while keeping interest rates at 0 you moron...inflation we have now is 100% on the biden admin and democrats u ppl have a lower mental capacity than a dog

[@quincyforbus9943]

Thank you Mr.Reich !! Because somebody has to tell the truth!!

[@GrimJerr]

Food producers are also engaging in Shrinkflation as prices go up, the amount of product is going down.

[@joshm7279]

Lol u idiots theyve started doing that when obama was president and leftists ignored it cause they wanted to say how a great job Obama was doing... Keep drinking the cool aid

[@deadwingdomain]

That's a shortage. They do shut down production and raise prices. Just like the oil barons. We live in a scarcity driven market. Also why diamond companies horde diamonds to make them higher valued, rather than the abundance of would reevaluate them at.

[@jabbu2449]

The loss of family run farms which were taken over by industrialized farming is the cause of this. All done by design. Family run farms used to be the backbone of America. Want America to be great again? Kill the monopolies.

[@creesauce]

Disagree. The burning if American food processing plants is being purposefully done to put us into an actual depression. This is warfare from the Marxist left.

[@jabbu2449]

@@creesauce That is delusional.

[@mannyj4751]

Yes... Inflation and Medicare more than wiped out my Social Security Increase this year! We thought we'd get ahead just a little but that went by the wayside. With the price of gasoline and increased grocery prices I am now worse off than last year!

[@KarlMarxFanClub]

Trying to figure out this question. Why is this happening right now, at this moment, and not 4 years ago?

[@river13]

@@KarlMarxFanClub Corporations are using the excuse of covid and Ukraine to jack up prices.

[@My-Pal-Hal]

@@KarlMarxFanClub Really? You can't figure that out? Well, I'm not going to give you the whole story. Because if you haven't been listening to Robert, you're not going to listen to me. But. It's not only been going on forever. That drumpf administration getting rid of the pandemic response team. Then claiming there is no pandemic. Then getting his Repugnantcant cult to fight everything Democrats tried to do to help. Including the Repugnantcan'ts even now voting Against bills to address the gas and baby formula issues. Along with the massive deregulations and tax cuts the rich and corporations got. And knowing they can get away with practically anything,.. because that same Repugnantcant Parties only agenda is Blame Democrats. So corporations have lots of cover. Well. That should be enough to get you started on an answer to your question.

[@facitenonvictimarum]

Things are bad all over Manny, not just you

[@My-Pal-Hal]

@@facitenonvictimarum Says the clown with a comment that really has no substance. And the same Clown that doesn't like Bernie Sanders 🤔🤔🤔 Imagine that 🤤 ... trolls are obvious

[@Sapper201D]

All these mergers these past 40 years was a cute quiet ploy to establish monopolies and duopolies. I believe ending mergers or allowing groups to aquire competitive rivals should be curbed or ended. Rail, Aviation, Trucking, Appliance makers, Grocers, etc have all benefited enormously and are doing exactly what professors, economists, analist, and marketers warned about decades ago.

[@jamespardee9300]

Right! Look at how many on that list are now owned by the government!

[@m.j.kaederproduction2479]

Been saying this. The 1% could eat the cost without blinking. Together they have trillions. With both their companies and their own wealth.

[@jamesrutter4100]

They want war

[@vinsanity40k]

well if they eat the cost, how are they going to pay their ceo's even more? or buy back their stock so they can make like bandits?

[@kyleebrock]

I can't stomach the part where we have to bail out corporations again when they blow through their profits and service their shareholders. We'll see this again in a few years.

[@aneurysm36]

Why? Why should any corporation ever be bailed out?

[@genetacey7421]

You do know that millions of Americans have their retirement as shareholders. You know, those people who don't feed on the government tit to make a living.

[@scottcycleguitarist]

As a economic conservative, I don't agree with corporate bailouts, but the corporation's sole job is to service their shareholders, many of which are average working people who own 401ks.

[@lot110]

@@scottcycleguitarist Bullshit stocks are owned by the wealthy at over 80%

[@SandhillCrane42]

​@@genetacey7421 Lucky for them Reagan's government legalized market manipulation. Don't you love these government men who tell you the government is the problem? Like if I were a plumber, and I said, "It's not the pipes causing the problem here, it's the plumber," and then you tearfully cut me a bonus check while praising me endlessly for the great job I did by saying that and allowing the pipes to break worse.

[@rickberdan3151]

100% correct ...my company had record profits 3 years running...we got a 2%-2% and 0% raises the last 3 years.

[@the_ikiru]

Ask for more. Or find another job that pays more. If you feel like someone is giving you a crappy deal, negotiate or walk away.

[@brianstansfield4367]

@@the_ikiru Yeah, sure. That is always the easy excuse. Maybe try living in reality?

[@conservativestrawman9837]

Wow a whole 2%??? Dont spend it all in one pla- aaaand its gone

[@dennisholliday2454]

@@brianstansfield4367 You took the words right out of my mouth....why should you have to give up your job ...and how does that REALLY help the situation ??!! The NEXT POOR soul will STILL have to deal with the greed of the company. WORKER CO-OPS ANYONE?? Furthermore, all the companies that received bailouts SHOULD HAVE BEEN TURNED INTO WORKER CO-OPS. Use the people's money to BAIL them out...then they should have been turned over to the people!!!!!!

[@dennisholliday2454]

Modern day ROBBER BARONS

[@marykestell8464]

Thank you for putting this out there!! I'm so tired, and inferiorated with the fkn CEOs making record profits! It's disgusting !! But they don't give a rat's ass at all about the consumer.

[@joshm7279]

@@Zach-ju5vi these ppl are either brainwashed or bots how can you spend 7 trillion in a yr with 0 interest rates and blame the corporations for inflation.. As if they control the money supply! These ppl are so stupid and should never be in power again... As if electing a literally brain dead dementia patient in biden wasn't enough

[@nadeemsiddiq7636]

@@Zach-ju5vi This response is nonsense and appears an attempt to deflect with a red herring. Inflation is global right now, so all currencies are being affected. The dollar is fairing quite well relatively.

[@sebastianbrodkin9156]

Why are you so resentful over the successes of others? The rich CEOs and billionaires are not obligated to take care of others in the same way as you are not obligated to use your own time and resources to help other people.

[@sebastianbrodkin9156]

@QB5 you could try telling me where i am wrong so i could learn the weaknesses in my arguments and become smarter. Or then you could consider that my arguments make sense and thus learn yourself.

[@sebastianbrodkin9156]

@QB5 i didnt mean Reich was resentful but Mary Kestell, the one who wrote the original comment in this thread. There is alot of similar comments made by many, which i believe is wrong and doesnt make sense. As long as someone hasnt stolen the wealth or caused direct suffering, and have earned it via mutual agreements its rightfully theirs. I strongly believe that a lot of problems is caused by goverment and especially printing of money. Money is literally power and energy, and goverment has monopoly on it and can push the money to whom they want. Printing money causes alot of wealth and equality, because it causes assets to become more valuable, prices increase while wages dont rise. Who owns assets? The richest people on this planet. Who became even more rich during pandemic moneyprinting? Musk, Bezos etc. From this perspective Robs ideas to continue sound crazy because they literally fuel wealth and equality. He also doesnt critizise money printing at all.

[@karenlebeter4196]

Yes. States give huge tax breaks to big corporations (Oil companies in southern states) then their schools & roads fall apart because no money to spend.

[@georgefarrington895]

Every worker needs to be in a union. Wake up people.if unions was a wast of time,Why does big business try to stop you joining one.

[@dennisholliday2454]

You Tell em ..you are 1000% CORRECT....It bears repeating... Why are corporations(Tesla , STARBUCKS , WALMART, Amazon,Apple etc.) doing ALL they can to STOP unions if unions were not GOOD for the WORKERS??!! United you BARGAIN divided you BEG. to the people who say they don't need a union... get a clue already. I heard several reports that$74,000 per year is what it cost to live and make ends meet. In other words that IS THEE LIVING WAGE. Are you making that??!!

[@dewaldt8104]

No. Unions are corrupt and I don't want to join one.

[@gdobie1west988]

Depends on the company and circumstance.

[@lot110]

@@gdobie1west988 No everyone!

[@CynthiaSchoenbauer]

When you teach us about what is going on WE absorb it all. We hear your complaints and grievances that you are giving out on our behalf and you stir up our discontent. It makes me not want to stay as quiet as I have in the past in all areas of my life. YOU DO GOOD WORK by showing us how we are working too hard for too little, some of us for a full lifetime. Thank you again and again, dear and wonderful man. You are a professor for a reason and you profess about how WE ARE BEING SHAFTED. Our due is being shaved off bit by bit by narcissists until there is no reason to work or live and we kill ourselves (and others) in desperation. This is our hour of discontent!!!

[@elibennett3034]

1. Tougher Antitrust Enforcement 2. Temp Profit Windfall Tax 3. Ban Stock Buybacks 4. Higher Taxes On Wealthy And Corporations 5. More Unions

[@logoninternet]

building a bunch of guillotines seems more achievable tbh

[@dioxideuniversal]

really more "taxing corporations at fucking all" at this point

[@anthonyberger810]

@@Zach-ju5vi it can’t be worse than it already is. The sheer squalor that half the nation is living in prevents them from participating in the economy. Babies are dying because their mothers can’t feed them with baby formula. 79% of personal bankruptcies in this nation are directly attributed to healthcare costs. It honestly can’t get much worse than this.

[@anthonyberger810]

@@Zach-ju5vi explain to me how trustbusting will hurt the economy. Every single time it has been implemented, corporations had no choice but to lower profit margins and costs, while at the same time, not being able to conduct mass layoffs due to the competitive market. The result was that every cent came out of the shareholders pockets. This created the economic boom of the 50s and 60s

[@logoninternet]

@@anthonyberger810 Anthony, click Zachs name, look at the other comments they have made, and save your text for someone who will actually listen and respond.

[@WindFireAllThatKindOfThing]

And it all started the moment a cargo ship got stuck in a canal, and they all thought "JACKPOT! We got us an alibi..."

[@dingusdingus2152]

It all started in 1981 the day Ronald Reagan was inaugurated

[@williambragg5064]

Hey jack google the Powell memorandum, it was written in aug of 71 just about 50 yrs ago how old were you then? It’s a blueprint for the GOP to take control of our government and it looks like it succeeded wonderfully, so today the gOP and its partner’s corporate America and Wall Street bankers run the government not you our me or anyone on main street. Read the Powell Memorandum that’s what went wrong in this country.

[@1Tomrider]

Competition doesn't exist, and the fixing of prices between "competitors" with a wink and a nod leads consumers to erroneously think the prices are valid since "Everyone is charging the same thing!"

[@daversj]

Can we please just ban stock buybacks. They used to be illegal and nothing good comes of it for the people….. Its great for shareholder value and option values for management but not much else. No reinvestment into durable goods, employee pay or long term growth. Just short term gains at the expense of everything else.

[@slclines]

we need to implement everything he mentioned in this video....we just need to vote all democrat or gather enough money to buy the politicians to vote for these things....

[@me-myself-i787]

There's no difference between a stock buyback and a dividend. They have the exact same effect. And banning both would prevent companies from paying their shareholders, so shareholders would have no reason to invest.

[@anthonyberger810]

The return of the U.S. to better and more fair economic conditions is inevitable. The fundamental problem with corporatism/oligarchy is that 10 times out of 10, the economy eventually reaches a point where every last cent has been squeezed from the 99.9%, and the 0.01% control 100% of the wealth. The result is a fundamental breakdown of society. Even the most basic functions of our economy and government will simply stop. Then, the wealthy will no longer have any more capital to gain. No one will have any money to participate in the economy, wages will be so low, and prices will be so high, it will likely be more practical to simply hunt and gather for food. I’m talking about $15/hr wages, yet the price of something as small as a bag of chips exceeding $500. Insurance companies will have lobbied government to the point where they will longer be required to even cover costs at all, yet they will have legal ability to force consumers to pay. By many measurements, the U.S. is already at this point. Type 1 diabetics are dying because a single dose on insulin costs an entire day’s wage, yet nobody seems to care. Gas prices in areas such as California are so high that breaking even while working for a ride-share service is no longer possible. Amazon engages in blatantly illegal union busting practices, yet absolutely no consequences are handed down, because bribery is legal. Change has to come, because if it doesn’t, money itself will eventually have no meaning, that is to say the role which money plays in the daily lives of Americans will begin to decrease, and reliance on direct trade of material goods will increase. It’s kind of apocalyptic to think about, but as an 18 year old, I absolutely do see this happening in my lifetime.

[@DA-br9xd]

Seems to be the norm for US corporations. Any increase in production cost is exploited and seen as an opportunity to increase profits. It's a shame that not enough Americans understand this well enough to demand a change.

[@markfreeman4727]

many are willfully ignorant

[@xelakram]

Robert Reich always hits the nail right on its head! A brilliant man. Brilliant and full of common sense.

[@derrillyager7946]

Yes Bob has good common sense. Now that I am older and retired I have time to look back and everything Bob has been saying is correct. I have seen the draining of value from the middle class and it is now two fold what it was just 10 years ago. I worry for my kids and grandchildren..

[@johnd6389]

@@derrillyager7946 Lol nope he is lying

[@Cyrus992]

Why wasn’t inflation high from late 2014 to 2020?

[@johnd6389]

@@Cyrus992 Because gdp was relatively high compared to debt. While the left literally shutdown the economy and infused even more money into the economy while eroding gdp.

[@xelakram]

@@derrillyager7946 I am also retired and, like you, I have seen a lot of changes. I am in the UK, though, not the US. But the same trends are apparent on this side of the Pond,, too. The middle class is being squeezed, the richer are getting richer and richer, and the poor haven't got a chance. It's very sad. I have no children, thankfully. I should hate to be young today. The best years have long gone. Apart from the economy, I deplore young people's attitudes to things. Also, their likes and dislikes. Aesthetics are an alien concept to so many young people today.

[@rabukan5842]

You are correct as usual Robert. I’ve seen this first hand over my 64 years on the planet, but unfortunately, it hasn’t gotten better over time, only worse. Democrats don’t even talk about this for fear of losing campaign contributions, and Republicans have been the party of the corporations. Neither party fights for the working class. Your boss allowed the Glass-Steigall act to be tossed, and since then, most banks and corporations only care about profits, stock buybacks, and shareholder dividends. Until we vote Republicans and corporate Democrats out of office, nothing positive for the majority of workers will happen.

[@slclines]

what you said...

[@andrewjameshenderson1389]

What a brilliant and talented man you are and such a great teacher. You help me to understand so much. Thank you, Mr. Secretary!

[@Cyrus992]

Why wasn’t inflation high from late 2014 to 2020?

[@andrewjameshenderson1389]

@@facitenonvictimarum dah fuq? No, i was serious. I truly admire him.🌹✌️

[@Imkflow]

Is there any that can be done by the final consumers? Most of the fight back strategies here seem to require political action to enact laws to limit corporations power.

[@neilmuir3503]

labor union. or political org like dsa

[@spir5102]

That's exactly what I said. We are being informed about the problem, but it appears to me that there's nothing I, as an average citizen, can do. Vote maybe? Of course I will vote, but I don't feel like even that's done a lot of good lately.

[@Ericaaaaaaaaaa]

Give your hard-earned money to businesses that treat their employees well and pay them fairly. Shop small and local whenever you can.

[@MaBaKar]

Thanks Robert, very helpful summary of the inequities in “the system” and how to fix them.

[@davidlow9777]

Windfall profits are proof of price gauging, this country is run by big business and that’s why corporations hate regulations because because it will cut into their profits and thus bonuses!

[@qwerty87687]

I don't disagree with the measures recommended, but why would congress do any of the items listed by Robert Reich. It's to congress's benefit and corporation's benefits to avoid doing all this and just give people small crumbs. I am not holding my breath for govt to actually do the right thing.

[@Raidersfan-gn7zo]

The system isn't corrupt, it's the people trusted to do the right thing in government. Obviously ethics don't exist when it comes to money and right wing politicians. Ideologically economic right wing politicians.

[@justthinking526]

Both sides of the isle are corrupt as hell. They all accept legal bribes from lobbyists and donors while practicing insider trading.

[@splace51]

We have a DEMOCRAT PRESIDENT, democrats don't take large corproate donations, that's why the republicans set up CITIZENS UNITED SO THE BILLIONAIRES CAN PUMP TENS OF MILLIONS TO THE REPUBLICAN PARTY!!!!

[@brendanwallace4661]

As an observation Irish people are paying ~$9 per US gallon for Diesel at the pump.

[@scorpioking280]

Corporations are gouging the consumer because there's no government regulations anymore. Therefore, DEREGULATION CAUSES INFLATION!

[@TomasAWalker53]

I’ve suffered since 1980, because of all that you’ve mentioned. Today, in a false retirement, I still have to work part-time to break even. I wonder what chance you think there is to enact half of these measures as long as you have this mental health issue in the Republican Congress? I’m not holding my breath.

[@dennisholliday2454]

I want to see THIS 4 MINUTE video broadcast across EVERY NEWS STATION in the UNITED STATES .....THEN we can ALL work together and BOYCOTT THESE COMPANIES (if only for 30 days)

[@tomwalsh7495]

June 19th call in day --"Ran out of Gas day" stay home:}

[@CheyHarden]

I have learned so much from this man, my hero!

[@Rasgonras]

Corporations are just unions for rich people, change my mind!

[@anthonyberger810]

I’d say that corporate price fixing cartels are more fitting of that category, but yes

[@MoMoneyEmpire]

I always said inflation was greed

[@joeows6537]

It's unfortunate that 99% of all Americans have no representation neither Democrat or Republican, I appreciate the good doctor but all Robert is doing is explaining everything that people wish they could have that the Democrats and Republicans will never fight for, thanks anyway Robert.

[@themartianway]

Defeatist mentality.

[@joeows6537]

@@themartianway the defeatist mentality is to vote for the same corrupt, inept Democratic Party over and over again and expect change. A vote for a Democrat is to be an extreme nihilist. Money within politics guarantees that democrat or republican, they will always vote the same way. The greatest threat to democracy within the United States is the Republican and the Democratic party and absolutely no evidence exists to argue otherwise.

[@joemcbride3426]

1000 percent true

[@jadedfarmboy7264]

Stock buy backs should be illegal. They produce no tangible benefits to society. Monopolies and monopsonies need to be broken up in a meaningful way. Unless there is a change in DOJ policy, I'm not holding my breath.

[@reubenj.cogburn8546]

I get a kick out of Robert. There IS a place for folks like him. Too bad all of his correctness will amount to um..... zero. Keep fighting the fight. I found it easier to increase my wealth, rather than attempting to change human behavior. Good luck Chuck.

[@Loneman_OG]

The exact same thing is happening here in the UK, too. The only difference is our Chancellor of the Exchequer was eventually forced into a U-turn on a windfall tax on the big oil companies. However, the £400+ being given to the poorest is only a grant on energy bills alone, which means the oil companies get most of their tax money straight _back!_ I wonder how many other countries are having their governments co-opted by big corporations in the same way?

[@john2477]

Are Corporations Using Inflation As Cover To Raise Prices? Does a fish fart in water? Is a frog's butt water tight? YES!!!!!

[@JB-tr6nu]

Worked for a Blackstone owned hotel we would have had to pay more for medical dental vision if we wanted $15 hr we all stayed at $12.92 hr.. so many ways the rich shaft us it's sickening...

[@Blackout219852]

Damn you Regan!

[@brandonfoster8163]

Fight for $25hr!!!

[@loraldinp2624]

It’s crazy but by now minimum wage should be $25.

[@Raidersfan-gn7zo]

Actually, if wages kept up with inflation and the cost of living since 1973, the minimum wage should be $35 an hour according to Thom Hartmann. In 1973 minimum wage was the equivalent of 35 dollars. Nixons oil embargo really fucked things up and then Reagan came along and fucked things up even more. But Conservatives always blame the abolishment of the gold standard which is totally false. And Keynesian economics didn't cause stagflation or inflation during the seventies and eighties. The embargo made Keynesianism look like the problem which set things up for Reaganomics and the "two santa claus theory".

[@Raidersfan-gn7zo]

@@Zach-ju5vi Tax profits like they did with Keynesian economics. There was no inflation. Inflation is only price gauging. When you tax profits prices won't go up, only wages. It makes the economy grow as well. Concentrated wealth destroys the economy!

[@Raidersfan-gn7zo]

@@Zach-ju5vi Nixons oil embargo caused inflation, not Keynesian economics. There was an 80% middle class and constant growth from 1933 to 1981 when Reagan started the destruction of the middle class. GOP libertarianism and Deregulation destroyed the middle class and the economy. You can't tell me that more people own houses and have a better life now than they did in say 1968! And Nixon totally abolished the gold standard. But the gold standard is just a right wing Corporate talking point to take more wealth from everyone else along with dividing the masses! Keynesian economics does work. Its laissez-faire economics that is the bain of the economy especially since covid and housing magnified laissez-faire for what it really is, a "ponzie scheme" that cause every major economic crash starting in 1929, 1987, 2000, 2008 and 2022 as long as we give everything to billionaires with laissez-faire and deregulation, we are all fucked economically. History proves it! You can't argue that!

[@charmainejames9539]

@@Raidersfan-gn7zo Is the “Arab Oil Embargo of 1973” which created OPEC in order to punish the USA for its pro Israel policies, what you incorrectly call “Nixon’s oil embargo “ ?

[@terrymofmich]

President Reich seems like a great idea. He's highly qualified. He's intelligent, well spoken, and obviously does his research before speaking. But we know it will never happen because of the ingrained prejudice toward short men.

[@steven.h0629]

Thank you Robert.. you are a treasure 🤜💥🤛

[@tjf7101]

2 years later and the lies continue from corporate America. I was just on the Buick website. Still claiming supply chain problems. It’s nonsense at this point.

[@marcirobins5144]

Talk about double-dipping! They received money during the quarantine and came back and raised prices. Supply-chain crises? Great! Let’s hit the consumer again. Everyday Americans better vote their best interests, without getting distracted with hot-button issues.

[@IMeMineWho]

We need to break up these monopolies.

[@JoeCuv]

If you don't agree with R. R.'s explanation here then think of this... we all know that the Oil Companies are making huge record setting profits and are not lowering gas or oil prices like they should. That is irrefutable because they have reported their earnings. This profit taking in the energy sector makes the cost to manufacture, get components to manufacture, and then too distribute and ship goods to stores and our homes all higher. So we all have to pay more for the goods we need, and this is also in addition to the higher prices we have to pay for gas and energy. We as consumers are irrefutably getting hit on all fronts, by the added oil and gas costs are hitting us all over the economy and it's like an added tax on us all. All that money that is going to the oil and gas companies should be staying in our pockets to buy the goods we need, and to buy them at the lower pre-inflation prices where our buying power was stronger. This monopoly by the oil and gas companies needs to end! NOW add the rest of the conversation in the video about main stream corporations also gaming the system, they are doing the exact same thing in most other industries too. So, the Thoughts & Prayers Party needs to pull their heads out of their prayer holes and start to change laws to benefit consumers and middle class workers. Make sure you vote for candidates that will hold corporations and the oil companies accountable! It's the GOP and Republicans that have made your life worse so vote them out!

[@JoeCuv]

@@Zach-ju5vi you don’t know what you’re talking about. the stimulus allowed most companies to stay in the black and despite it many small businesses still did not survive or owners decided it was a good time to quit. the economy would be in far worse condition now without the stimulus. Since then corporations profit has jumped over 50% in most cases and oil and gas has jumped over 100% in the same period. And the profit taking from oil and gas just gets worse from there because the US oil and gas makers have slowed production as other counties struggle to help make up the shortfall of Russian oil and gas because of the Ukraine war. The US oil and gas companies are thankless and evil. Just look at the data and if you don’t understand the data then stfu!

[@JoeCuv]

@@Zach-ju5vi no Zach, economists like myself just call these facts. If you want to be a divisive idiot then please keep it up. And you know how we know you are an idiot? Because the first 2 out of 3 stimulus packets were signed by President Dumpshite. Since you apparently lack the knowledge of the actual facts one can only determine you spend all your time jacking off to Fox News and believing you are smart when you're just a moronic follower of fake news.

[@nsidor1234]

Vote BLUE in '22 🇺🇸

[@Stonecoldfrank]

Good luck with that :)

[@nsidor1234]

@@Zach-ju5vi Did you pay any attention to the video that the rest of us watched. Those greasy little, Chinese made maga hats have a strap on the back, LOOSEN IT!

[@aBeerFromHere7994]

American economy is like a apple tree without apples. It absorbs nutrition from earth (citizens), push it up to the top (wealthiest) into the leaves and the leaves capture the sunlight (state‘s funding) of the sun (Republicans and some Democrats). And if you are luck enough the tree drops a tiny apple.

[@kimhorton6109]

Yes, corporate greed is a real thing. And Petro companies are leading the. Way

[@joseluisrivadeneiraargudo8985]

I hate taxes. Most of that money stays in the pockets of corrupt politicians, huge overprices, bribes etc. is there any other way?

[@Christopher_Bachm]

Remind people that Reagan began the current mess...

[@william38022]

Right on brother👍😎👍

[@william38022]

Buy a Honda ruckus America by a small scooter new or used or a moped in this warm weather if more and more people rideshare take public transportation or ride a small scooter or if you can afford it the hybrid car or electric it will hurt these big oil companies that’s the only way we can put it to the man folks concerning these high gas prices👍

[@markmurphy4205]

REINSTITUTE ANTI-TRUST & ANTI-MONOPOLY LAWS, OUTLAW CORPORATE ACCESS TO ELECTED OFFICIALS, OUTLAW LOBBYISM, TAX THE GLUTTONOUS .

[@childoftheunderworld]

Love the way this video was formatted and produced! The 80s theme was brilliant! ❤

[@RionJacobs]

I'm a Trump supporting conservative and I approve most of this message. I wouldn't raise tax rates. Instead, I would trust bust all the massive corporations. I would cut regulations, but just on small business owners, the big guys can afford the regulations. Then, I would take an axe to all 263 intelligence and investigative agencies, including the CIA, and put them back under the authority of Congress. I would repurpose their buildings in DC to serve as shelters for the homeless and asylum seekers. The FDA and CDC would be banned from receiving corporate funds and instead be made to serve the people again. Then, I would ban contractors from our military except for vehicle and weapon purchases. Make the military the military again. Then I would ban all tax loopholes and write offs for anyone making over $1million/yr. I would ban lobbyists forever. I would offer a guaranteed associates degree in exchange for two years in the military, bachelor's for four, masters for eight or more.

[@RionJacobs]

I would cut every program and agency that seemed to be working against the people. Then, I would reallocate those funds to pay down the deficit. I would pull all troops and resources back from other countries except the ones that pay us to stay. Then, I would task the military with building up the border with a system so advanced it would make Israel jealous. I would increase tariffs for every country, so that there would be no difference between manufacturing in America or manufacturing elsewhere.

[@hezigler]

"We have the best government money can buy." Mark Twain

[@thelakeman5207]

When corporate earnings come out, record profits will show this man is correct. Oil is leading the way and their greed trickles down to all the rest.

[@tranger4579]

I went to eat a Buffalo wild Wings this past Saturday. 70 bucks I said never again. Service and food was horrible.

[@lilnbigman]

It all stated to the comment below, back in 1980 when republicans sold out Our Country! We should never depend on that cargo because in The USA all manufacturing, farming should be done here.

[@jim5118]

Please be the next President, Mr. Reich. Thank you.

[@donniecash1737]

We the people need to share this to help each other.

[@jeremiah6617]

Keep reminding Americans of the true reasons for record inflation.

[@ascvb3]

The quality of the editing on your content is insane.

[@K1989L]

Funny. We here in northern Europe in our field got 0,9% raise for all with another 0,9% raise left to the empolyer to decide who gets it. And now the inflation is over 8% and has been over 7% for months. Good times.

[@laartwork]

What an amazing third (or fourth) act! Killing it as a youtuber.

[@william38022]

Folks I know it’s hard but try not to buy no more than you need to right now,,,go to a reputable farmer or a reputable Amish you can get your chicken and pork and your beef from them I’ve got a cow share(myself and a few others will buy a cow share of meat from a local farmer and then have it processed at a butcher shop/slaughterhouse make sure the slaughterhouse is state inspected)coming up here in the next several months again.We usually buy what they call a split half the best of both quarters it’s actually a quarter of beef but we get the best cuts of the two quarters we’ve got it in her freezer right now,,,you’ll save a little money and help out someone local you could probably get your eggs this way also,,,in my area alot of folks sell 🥚 🍳 🪺 eggs also,,,plant a garden even if you don’t have the land to do so there may be community gardens in your area I live in a very small village way out in the boondocks surrounded by cornfields and our village plants a community garden every year they put out bins and the public is allowed to come and take whatever’s in those bins,,,as far as gas is concerned do the best you can you may consider joining Costco sometimes gas is cheaper at Costco and sometimes it isn’t however they sell very high-quality gasoline I usually average better mileage with it try to get the very best price possible.

[@leighedwards]

I hate shrinkflation where the size or quantity is reduced but the price remains the same!

[@alanmandell5559]

There needs to be a Burger King next to McDonald's for competition.

[@Blackout219852]

This is why we need to change our ways and save the planet

[@Zoki4444]

It's not sustainable. One day this scheme will hit a critical point. What will the corporations do then?

[@derekjc777]

We have a #CostOfGreedCrisis that has created a #CostOfLivingCrisis. Using free markets and reducing supply, corporations have forced up prices while costs remain roughly constant, thereby increasing profits. It’s the greed of executives and shareholders, unwilling to convert profits into pay rises, that’s causing the #CostOfLivingCrisis. That is the #CostOfGreedCrisis.

[@i_am_a_freespirit]

Thank you Robert Reich for the information in this video.

[@chuckkottke]

This has 46,000 views, while the ad from Ron Johnson playing on KZbin probably has millions of views. We ought to fund these presentations by Professor Reich as ads so everyone sees them, and the truth gets out! 🗽💡

[@keyissues1027]

Corporations were Seldom in the Founding Fathers discussions of laws. Why? Because corporations (in those days) were very unlike the corporations of today. Seriously, they now have much more power, wealth and political influence these days and that is not one bit beneficial and good for we Americans who struggle every day.

[@Peacefulnessxxx]

Good summary of the current UK problems I used to think this was a socialist channel but no its about saving capitalism from itself.

[@80s_Boombox_Collector]

What the simpletons don't understand is that every nation has a blend of socialism and capitalism. People who complain that America is becoming socialist are ignoring the fact that we've always had some socialism in our country and always will, even when Republicans are in charge. Most of Europe is more socialist than we'll ever be. Yet Republicans continue to bitch and moan that the world is ending just because a Dem is in charge.

[@onegod7257]

CORPOS HAVE COMMODIFIED INFLATION AND TURNED IT INTO PROFIT WITH A MARKUP

[@keyissues1027]

While Americans suffer in silence with growing inflation, corporations are getting incredibly richer.

[@XCHDragox115]

What’s the point? We’ve been talking about this for years now, nothing can be done. If we try anything, it’s “illegal”. Damned if we do, damned if we don’t. Both government and corporations benefit from this exchange - why would the government care if we are treated right? I give up…

[@catransom3912]

That's exactly what the billionaires and politicians want you to do...want all of us to do...

[@XCHDragox115]

@@catransom3912 give up already! They’ve already won! If you fight you will get hurt. Give up and maybe we can live the rest of our miserable lives…

[@me-myself-i787]

Corporate profits may be at an all-time high in nominal terms, but adjusted for inflation, I doubt they're that different from what they used to be. And there's no reason corporations should have to reduce their profits just because the government decided to devalue the currency. Also, if corporations could've done this this whole time, why didn't they do it sooner? It's not like corporations were less greedy a few years ago.

[@andybaldman]

Props for all the classic arcade game sounds. I see you, sound guy!

[@spir5102]

Robert, thank you for the information but actually I feel very helpless as an average American. Isn't Congress the one that has to do all those solutions? Aren't Congress members being paid off by corporations? Please tell us what the average person can do, if anything.

[@neilmuir3503]

union

[@neilmuir3503]

@@Zach-ju5vi no they don't lol

[@neilmuir3503]

@@Zach-ju5vi prove it

[@neilmuir3503]

@@Zach-ju5vi depends. do unions control prices?

[@neilmuir3503]

@@Zach-ju5vi do unions set prices?

[@klauskarbaumer6302]

I wish Americans' attention span and ability to deal with complex problems were sufficient to take in this information, instead it seems a lot of people rather listen to simplistic sound bites, blaming the current administration by leaving out the system's flaws.

[@Littleking1985]

If government would just get out of the way but both government and corporations are working together and are both corrupt.

[@rosshoward6645]

Please run for President. Its refreshing to hear what you say and I totally agree. Problem is those people in power who make decisions do not know( or care) what you know. How can we keep like minded politicians in office to make good decisions?? You (Mr. President, lol).

[@Ouchimoo]

It sure would be nice if the people just as burned by all this would turn off Tucker Carlson and stop idolizing Reagan because Fox noise tells them to. Then maybe we could finally elect competent people into office who could, you know, stop electing bullshit polices that only benefit corporations and the 1%

[@reubenj.cogburn8546]

The problem is not corporations. The problem is CULTURE! "Greed is good" got us here. "Greed is bad" repairs that. No amount of WHINING will change that. Teach this to the young.

[@rafaeldiaz5058]

You are right, but here in Texas people hate unions.

[@TadasTalaikis]

No one denies you the right to buy those shares and hedge against inflation.

[@rezadaneshi]

We have to voice our dissatisfaction. This Hearing all of the bad news and showing no literal reaction and taking the lie perpetrated by the news as the reasons why, one lie at a time, has emboldened corporations to think they can get away with anything and so far, they have. We need people to voice their dissatisfaction individually to be heard collectively.

[@brianstansfield4367]

People are voicing their anger. Unfortunately, most people are stupid and just point the finger at Biden, rather than the actual culprits.

[@kayouellette2856]

The correlation between unions and economic equality is stark! That graph and those words should be played on a loop until ppl finally hear them.

[@glittergirlglory4320]

Were you a artist in your younger years because you’re drawing is amazing

[@Nicov.]

Gosh am I glad I found your channnel!

[@georgegates526]

We're screwed. And so is this country.