Comments by "Jeremy Barlow" (@jeremybarlow2291) on "How to Avoid Inflation in the West" video.
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With the exception of Putin's decision to start a war that will inflate food prices because farmers in Ukraine will not be able to plant or harvest a significant percentage of the world grain harvest, politicians have virtually zero to do with inflation.
Unless you are saying their failure to regulate price gouging by corporate players is incompetence?
In a free market with very little regulation, businesses have decided to increase prices on staples because workers have decided they can earn as much working for themselves in the current environment as they made working at the low wage jobs they had before the pandemic, but what is more those workers decided a more diversified set of revenue streams made more sense than devoting their lives fo making other people's businesses successful.
If anything competent politicians increased the rate of capitalism in the market and those buddy capitalists that competent politicians crested have made it more difficult for incumbent players to compete.
The response of incumbent players to this threat to their hegemony, monopolies, and monopsonies in the market has been to raise prices to force workers to re-enter their controlled employment market, falsely blame workers who became capitalists for their woes by calling them lazy and blame increase labor costs -which are not true, as data has shown nominal real wage gains if any, for increased prices.
The reality is incumbent corporations with waning sales increased prices to hide sluggish volume, but also because they misread the changes in the market. They assumed workers had downsized their lives, when many have been better off working for themselves and working in a diversified manner.
Plenty of people who worked at a very low wage for someone else now have an online store that generates part of their income. They also have a small crypto mine in their home and trading portfolio that generates part of their income. They also DoorDash or Uber with their car from time to time. They realized that not working for someone else saved them $800 a month in child care, but that time at home with their kids also gave them time to start a YouTube Channel, Blog, or Podcast that not only replaced the income they used to earn at their old job, but meant they keep the $800 a month they used to spend because they went to an office.
The miscalcution by incumbent players that they can outlast people who replaced their old income by raising their prices to pad their bottom line is what has caused "inflation." It has nothing to do with politicians and everything to do with market capitalism and more people figuring out how to be free.
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