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Date of upload: Oct 9, 2023 ^^
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YouTube Comments - 65 Comments
Top Comments of this video!! :3
Everybody needs to explain this shit to their boss during their annual reviews
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Most people don't think of it this way, but inflation is effectively a pay cut. I've rec'd 5% in pay increases over the last 2 years, but inflation during that period has been over 15%. That equates to a more than 10% loss in purchasing power and it's what workers have been dealing with for 40+ years, while the owners' wealth has growth exponentially. It's utterly unsustainable, but they will never relent. Their insatiable greed won't let them give an inch.
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People like to blame the government for inflation and cost of living increases, and I'm sure that has some effect on it, but then I look at the fact that billionaires exist and are siphoning money from the economy.
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Reminder that this round of inflation is prices driven, not consumer spending or currency printing driven. Increasing interest rates is a choice, and will only decrease inflation by hurting another tranche of the working class. The way to tackle this particular round of inflation was profit increase caps and price increase caps, which is always an option and the choice not to impose them is an active one. The government chose to hurt ordinary people rather than control ordinary greed.
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Give Michael a raise, Wisecrack!
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My last raise was 3 years ago and it was only 10%. Im making 10% less now due to inflation.
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Your money is worth less when inflation goes up and "cost of living raises" only covers like a month of inflation possibly two in ideal conditions
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I am from Argentina...
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You guys should put together your own chart of economic indicators. FRED is free and it's produced by the government so you can see the official numbers and do your own calculations and find out that The TV people are clueless about unemployment, inflation, and the cost of living. It went from 350% of an annual income to buy a house to 1,150% in just a few short decades. Everything from milk to potatoes to beef is more expensive, the only thing that seems to keep pace with inflation is a gallon of gas and that ended a few years ago.
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āitās a whole thingā he says lol, yeah it sure is isnāt it.
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Whwer have you been the last thirty to fourth years?
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Inflation š° the cyclical harvest
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You're not making less money, but your buying power has decreased.
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The ElitzurāVaidman bomb-testerĀ was actually confirmed by experiment to work.
Although it actually has a 50% chance to blow the bomb up š
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this is why you don't put your two weeks in anymore
just find another job that pays more instead of asking a raise
once I was making 19 asking for 20 after two years of loyalty
the moment they said no after setting record profits
I went and found a 23 an hour job casually by searching my options
took me a month but its better Than that measly dollar raise
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You had the same salary for two years? Quit flexing, man, lol
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Usually this kind of argument is followed by "Government bad". which, in this case, it is partially the govs fault (not all of it, but some of it), at the same time we would probably agree with some of policies that caused it (like pandemic shutdowns, revlieve/stimmies, help to Ukraine etc)....
Sooooooo it sucks but....
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Yeah and this is when regulation comes into effect. Because those with the power to do something, don't care, they expect a certain return, and they can almost guarantee it by raising prices.
The argument is always that you can just go with another brand for anything and everything, but that's not how land works. Land costs is insane, yeah there is a lot of relatively cheap land in smaller less populated areas, but that doesn't solve the problem.
All the arguments for free market capitalism frame the world so simply and uniformly. That's not the real world. There is no simple solution to any of these economic issues, that's why they keep happening year after year
On the large scale CEOs are responsible, but on the smaller scale, people with "investment properties" are the problem.
The rent is so high where I live you can make a house payment for the cost of renting, and because of that every year or so the housing prices go up, and then the cost of renting climbs up to match it.
It's endless and stupid, it's destroying our economy and it needs to be regulated
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@stevengiuseppetti6555
8 months ago
This is one of the single most important concepts people need to understand in order to realize the scope of the issue and situation we find ourselves in. People have a lot of trouble understanding compounding interest and the fact that just because the inflation rate decreases that does NOT mean that prices decrease. Also the super crucial idea that all the inflation we've had due to companies raising prices for no reason much of the time has functionally decreased everyones wages. People literally make less money nowadays than we made 20 years ago even though the productivity has increased per person. People are working more for less money, year after year. Its a continuous process that has gone on for decades. Its not just Bidens fault or one president, its a decadea long process they've upheld.
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