Shareholders are key investors and are the principal drivers of M&A and infrastructure investment.
Disagreeing with the idea that companies exist to drive shareholder returns does not change the actual purpose of shareholders, nor suddenly cause them to be rent-seekers.
How did they get that capital to invest I wonder? The simple answer is that they obtained it through a chain of underpayment of workers for the true value they produce, thus creating a profit. Investors are simply people with wealth who put some of that wealth at risk in the hopes of increasing that wealth by exploiting workers.
The only inherent value an investor has is taking risks, but the risks they take are rarely material risks. Most of these investors have diverse portfolios and are unlikely to see their quality of life affected in any meaningful way if they are in any way financially responsible.
You brought an economics argument to a rage thread. OP isn’t making a technical claim when they say “rent seeking behavior”, they’re angry and using it as a synonym for “greedy people”.
Yeah except the workers never get the increase in pay you tool. Both Dems and Republicans in office actively help this happening, progressive Dems are the ones that give a damn
I’m a republican but we need to seriously raise the minimum wage.
Uh, you might wanna consider if being a Republican is more important to you than not living in a country full of homeless starving people is before you cast your next vote.
Most of your fellow Republicans believe deep down in the abolishment of the minimum wage, and are adamantly against ever raising it again.
Every single Senate Republican voted against raising the minimum wage to $15, all but 3 House Republicans did the same. It wasn’t really a surprise political result to anyone, nor will it be surprising when they all vote against it again.
Historically they’re been concerned about the inflation risk with raising minimum wage.
So inflation is bad already. They blame rising wages for inflation, and you think they’re going to raise the minimum wage? Why? Is there something in the party platform about raising the minimum wage?
I highly doubt there is, and I highly doubt that if they got more power that that’s what they’d do.
Me and a partner got fish and chips at a bar yesterday, one app, no drinks, cost us fucking $80. Good fish and chips but like not that good… When I first moved here I was making enough to eat out basically every day and not notice it. I’ve gotten two raises since then but everything is going up in cost so much if I go out twice a week I’m straining my bank account. I’m used to being poor this job was a complete game changer for me but I’m already noticing I’m starting to pick up habits again from when I was making like 1/3 as much as I do now.
The economy is doing better precisely because regular people’s lives are harder. A “strong” economy means more and more off the backs of everyday laborers. Not to mention intentional raising of unemployment rates to combat inflation. The system is fucked. There’s nothing in it for me and you.
Exactly this. Companies do better when they can exploit their workers for as much value as possible. That’s what a “good economy” looks like and it is the duty of every living human to hurt it.
I’ll believe the economics are better when I’m not paying markedly more for everything in my life and my salary increases.
BINGO.
A recent visit to the hospital for someone close recently STILL sent me a bill for more than $5K and we have health insurance. Family members are still in debt from school loans which are about to resume repayment. Friends tell me they haven’t gotten raises in years.
It’s such a shit show out there yet the cEnTrIsT backstop types want us to celebrate crumbs of shit they made someone blow off the top of the dead rat on our plate.
They need BIG BOLD moves - even if the Rs later do the unbelievably stupid move of overturning them to show people that REAL TANGIBLE benefits exist as a result of them voting in Democratic representatives or turnout is depressed.
No one is going to show up for your attempt at a request for a mail in rebate coupon that can be used on 1 Tuesday in October for submitting a form to see if you qualify for a temporary pause on 💩. They show up for things like the “Rural Electrification” project. They show up for the interstate highway being built. They show up for Medicare, Social Security, Civil Rights Act, etc.
You want people to get excited, then pass something exciting. Abuse your power if you have to. I don’t care if Rs scream about it - people don’t care if what you do brings TANGIBLE help to them.
Food service workers haven’t gotten raises in decades. I finally quit when I threw my back out, but when I started in 96, I was making $20,000 a year as a line cook, and later $30,000 as a chef. When I went into management I got a whopping $36,000 as a GM. Meanwhile the prices on the menus have more than doubled. Dollar menus are non existent. It’s bullshit. I make more money working for myself a few hours a week growing flower and building computers than I ever would in food service.
I think a lot of it is living costs. If you were able to lock in a mortgage with low interest rates, and don’t have to rent or look for a place to live right now, then you’re probably doing a lot better than others and then the President’s analysis may make actual sense.
On the other hand, I’ve gotten a couple raises but it hasn’t felt like it. They’ve basically equaled out to inflation.
Individual impacts are always felt last. In 08, the average person didn’t experience the crisis until it had been underway for about half a year or more.
I am not arguing that every person is literally better off this moment but rather that economic messaging as a whole is not resonating with people.
Wages are going up. Hiring is through the roof. Things are turned around. Fundamentals are all rock solid, and even the Fed is saying that they will be easing off as they have essentially already achieved the “soft landing” with inflation.
The person I replied to is committing the same logical “sin” that the article bemoans.
It’s almost as if when the average person talks about the economy, they’re talking about metrics and dynamics that affect them, and when politicians talk about economics, they talk about a set of metrics and dynamics that the average person couldn’t give a flying fuck about, which may or may not affect them eventually. The degree to which those two sets are related is constantly in dispute, but trying to confuse the economy for the 1% as the economy for everyone else is kind of a fundamental deception that people are getting tired of. There’s no guarantee or even strong reason to believe any of our schools of thought of macroeconomics have ever been right. We’re making it up as we go along, and often times for the benefit of the upper class, not everyone else.
Removed by mod
deleted by creator
Dining out is CRAZY now.
My wife and I were out and about last weekend and needed to eat so we hit a Burger King.
Meals for 2, nothing crazy, was $30… at freaking BURGER KING. We don’t even have a sales tax here.
Workers wanted an increase in pay, so shareholders needed to offset that by even more. Workers can’t get a raise without shareholders getting a raise.
Inflation is majority driven by profit, not wages. Dems barely attack that angle. Republicans actively work against it.
Shareholders don’t need to offset shit. They’re just greedy rent seeking bastards.
Sorry, didn’t mean to word it as support. Just wording it as the reality of what they think.
Shareholders provide economic value (it’s literally in the name) and are not rent-seeking by definition
Pray tell. How?
Shareholders are key investors and are the principal drivers of M&A and infrastructure investment.
Disagreeing with the idea that companies exist to drive shareholder returns does not change the actual purpose of shareholders, nor suddenly cause them to be rent-seekers.
How did they get that capital to invest I wonder? The simple answer is that they obtained it through a chain of underpayment of workers for the true value they produce, thus creating a profit. Investors are simply people with wealth who put some of that wealth at risk in the hopes of increasing that wealth by exploiting workers.
The only inherent value an investor has is taking risks, but the risks they take are rarely material risks. Most of these investors have diverse portfolios and are unlikely to see their quality of life affected in any meaningful way if they are in any way financially responsible.
You brought an economics argument to a rage thread. OP isn’t making a technical claim when they say “rent seeking behavior”, they’re angry and using it as a synonym for “greedy people”.
Yeah except the workers never get the increase in pay you tool. Both Dems and Republicans in office actively help this happening, progressive Dems are the ones that give a damn
That burger was probably 2 dollars of ingredients before profit
Restaurants have among the lowest profit margins of any industry.
I know by definition “restaurant” can be a fast-food place, but genuine restaurants are what you meant. Fast-food joints do not operate this way.
Even BKs margins of 18% do not account for a $28 markup, as was suggested above.
$2 ingredients, $55 labor, $2 profit most likely
$21 was the bill for 4 people to eat fast food for lunch in my part of the USA today.
Y’all are paying too much for fast food, it’s not worth that.
deleted by creator
Bumfuck Ohio
Removed by mod
deleted by creator
Man some things have really hit the “I mean, it’s one banana, Michael. What could it cost? $10?” levels of ridiculousness price wise.
deleted by creator
Uh, you might wanna consider if being a Republican is more important to you than not living in a country full of homeless starving people is before you cast your next vote.
Most of your fellow Republicans believe deep down in the abolishment of the minimum wage, and are adamantly against ever raising it again.
deleted by creator
Every single Senate Republican voted against raising the minimum wage to $15, all but 3 House Republicans did the same. It wasn’t really a surprise political result to anyone, nor will it be surprising when they all vote against it again.
So inflation is bad already. They blame rising wages for inflation, and you think they’re going to raise the minimum wage? Why? Is there something in the party platform about raising the minimum wage?
I highly doubt there is, and I highly doubt that if they got more power that that’s what they’d do.
Me and a partner got fish and chips at a bar yesterday, one app, no drinks, cost us fucking $80. Good fish and chips but like not that good… When I first moved here I was making enough to eat out basically every day and not notice it. I’ve gotten two raises since then but everything is going up in cost so much if I go out twice a week I’m straining my bank account. I’m used to being poor this job was a complete game changer for me but I’m already noticing I’m starting to pick up habits again from when I was making like 1/3 as much as I do now.
Visiting Europe and prices are so freaking cheap for everything it feels like I’m in a different decade.
Removed by mod
deleted by creator
I spent $500 at Costco last weekend this shit is out of control.
deleted by creator
What country? Cause those prices seem ridiculously high for the US, unless those are fine dining prices these days
deleted by creator
The economy is doing better precisely because regular people’s lives are harder. A “strong” economy means more and more off the backs of everyday laborers. Not to mention intentional raising of unemployment rates to combat inflation. The system is fucked. There’s nothing in it for me and you.
Exactly this. Companies do better when they can exploit their workers for as much value as possible. That’s what a “good economy” looks like and it is the duty of every living human to hurt it.
BINGO.
A recent visit to the hospital for someone close recently STILL sent me a bill for more than $5K and we have health insurance. Family members are still in debt from school loans which are about to resume repayment. Friends tell me they haven’t gotten raises in years.
It’s such a shit show out there yet the cEnTrIsT backstop types want us to celebrate crumbs of shit they made someone blow off the top of the dead rat on our plate.
They need BIG BOLD moves - even if the Rs later do the unbelievably stupid move of overturning them to show people that REAL TANGIBLE benefits exist as a result of them voting in Democratic representatives or turnout is depressed.
No one is going to show up for your attempt at a request for a mail in rebate coupon that can be used on 1 Tuesday in October for submitting a form to see if you qualify for a temporary pause on 💩. They show up for things like the “Rural Electrification” project. They show up for the interstate highway being built. They show up for Medicare, Social Security, Civil Rights Act, etc.
You want people to get excited, then pass something exciting. Abuse your power if you have to. I don’t care if Rs scream about it - people don’t care if what you do brings TANGIBLE help to them.
Food service workers haven’t gotten raises in decades. I finally quit when I threw my back out, but when I started in 96, I was making $20,000 a year as a line cook, and later $30,000 as a chef. When I went into management I got a whopping $36,000 as a GM. Meanwhile the prices on the menus have more than doubled. Dollar menus are non existent. It’s bullshit. I make more money working for myself a few hours a week growing flower and building computers than I ever would in food service.
Yeah, I see the data every Sunday I go to the grocery store and it sure as fuck isn’t making things better.
I can see all my grocery store receipts in my app up to two years ago.
Many things have gotten a lot more expensive, but some things haven’t. I would put it at 20%, not 30+%.
Also, my mortgage didn’t go up. Renters are getting screwed, that’s for sure.
Finally, my wage definitely went up. Although many people did not have had their wages go up and they are getting screwed too
So I’m doing much better than two years ago.
The economy isn’t bad for everyone.
But for many people, it’s definitely bad.
To say that the numbers are wrong is a stretch though. The numbers just reflect averages.
I too have largely been doing better since the pandemic than before it. But I also bought a condo during the extremely brief price dip in early 2020.
Same here, still doing fine in my low cost of living area. Not all of the USA is as bad as some of these reports.
I think a lot of it is living costs. If you were able to lock in a mortgage with low interest rates, and don’t have to rent or look for a place to live right now, then you’re probably doing a lot better than others and then the President’s analysis may make actual sense.
On the other hand, I’ve gotten a couple raises but it hasn’t felt like it. They’ve basically equaled out to inflation.
Cannot believe you wrote this without a trace of irony.
Removed by mod
You could say it’s not trickling down. It’s more like an inverted pyramid scheme.
Individual impacts are always felt last. In 08, the average person didn’t experience the crisis until it had been underway for about half a year or more.
I am not arguing that every person is literally better off this moment but rather that economic messaging as a whole is not resonating with people.
Wages are going up. Hiring is through the roof. Things are turned around. Fundamentals are all rock solid, and even the Fed is saying that they will be easing off as they have essentially already achieved the “soft landing” with inflation.
The person I replied to is committing the same logical “sin” that the article bemoans.
It’s almost as if when the average person talks about the economy, they’re talking about metrics and dynamics that affect them, and when politicians talk about economics, they talk about a set of metrics and dynamics that the average person couldn’t give a flying fuck about, which may or may not affect them eventually. The degree to which those two sets are related is constantly in dispute, but trying to confuse the economy for the 1% as the economy for everyone else is kind of a fundamental deception that people are getting tired of. There’s no guarantee or even strong reason to believe any of our schools of thought of macroeconomics have ever been right. We’re making it up as we go along, and often times for the benefit of the upper class, not everyone else.
This is called “propaganda” say it with me “prop-a-Ganda”
That’s…proving them correct, the data IS mistrusted