#inflation

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Inflation is falling. Prices are not. Inflation is falling because the Tory-generated shocks of last summer are now being annualised. That means they have been baked into the economy for a year now. The government will try to claim some sort of "credit" for the headline number being lower. It's just yet another reason we need to be shot of them.

Rice in the Ph is now P56 ($1) per kilogram. Whatever happened to the president's promise of rice at P20/kg ($0.35)?

https://www.philstar.com/headlines/2023/08/16/2288978/rice-prices-surge-p56-kilo

Give a million average people $600 and they will spend it all in the economy. If a million people give $600 to a billionaire, he has another $600 million to sit on.

This is why we have inflation. When we create wealth it eventually gets hoarded instead of recirculated, devaluing our currency.

If we tax excess wealth and support workers by legislating better wages, and bust monopolies instead of unions, that would fight inflation. Return the money to the people.

Sharif Sourour (@HonourableHappy Give $600 to a poor person & it's gone in a week. Give $600 to a rich person & it's multiplied 10X in a few years or less. 3:24 - 22 Dec 20 - Twitter Web App 105 Retweets 1,557 Quote Tweets 668 Likes That Vato Pascual @SatanicHis... - 1m s Replying to @HonourableHappy Here lemme fix that for you. "Give $600 to someone with no money and they have no choice but to use it to survive. Give $600 to someone whose needs are already fully met, and they can sit on it all they want." FFS are we really this dense?

For those of you who've been following the debates (in my timeline & elsewhere) on the Q. of , , & , here's a nice summary from Prem Sikka of his views (which complement what I've been saying):

the roots of current inflationary problems are in corporate enrichment not in any (mythical) wage-prices spiral;

more proof that the policy response is a political choice; there are other ways to deal with the problem of inflation!
https://leftfootforward.org/2023/06/raising-interest-rates-wont-solve-inflation/

Well there are alternatives, but they would involve some creative thinking and accepting that profit taking is actually at least as big an inflation driver as wages and consumer activities.
So tackle corporate greed or grind down the broader population? Not a tough choice if you are a
UK has no alternative to Bank interest rate rises to calm inflation - Hunt - BBC News
https://www.bbc.co.uk/news/business-65891838

Look what’s the problem?, how many times do we have to say it? We can’t understand why you don’t get it! Laws and rules don’t apply to us,we’re tories’ we’re better than you. She might be in charge of law and order, but only for you plebs 


Look, we at Tory H.Q. know it looks bad. A £30 rail fare compared to a £6000 helicopter ride, plus the environmental issue. But you have to remember,we’re tories we don’t give a fuck about pissing away public money or the environment 


Call me a conspiratorialist if you must. But when CEOs get on earnings calls and brag about how covid, war, and scare-stories about let them hike their prices and rake in never-before-seen profit margins, I think it's reasonable to blame inflation on greed, not on workers getting a couple of relief checks during the lockdown.

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A vintage postcard illustration of the Federal Reserve building in Washington, DC. The building is spattered with blood. In the foreground is a medieval woodcut of a physician bleeding a woman into a bowl while another woman holds a bowl to catch the blood. The physician's head has been replaced with that of Federal Reserve Chairman Jerome Powell. Image: Mosaic 36 (modified) https://www.flickr.com/photos/mosaic36/14231376315 CC BY 2.0 https://creativecommons.org/licenses/by/2.0/

And just in case you're interested about how things look over the channel (remember Europe, we used to be in it); here's the regional variations in .

You can draw your own conclusions about the claims from leading that the current inflationary period is an international phenomenon - nothing to do with , or the labour market problems caused by the ' impact on ling-term sickness fo ... no no, nothing to see here

Chart: Britain now has Western Europe's highest inflation rate: March annual inflation; harnmonised index of consumer prices. UK 10.1% Austria 9.2% Italy 8.2% Sweden 8.1% Portugal 8.0% Germany 7.8% Denmark 7.3% Ireland 7.0% Finland 6.8% France 6.6% Norway 6.5% Belgium 4.9% Netherlands 4.5% Spain 3.1%