While conservatives worry about "globalists" the richest globalists in the world are convincing them to vote for politicians who won't rein them in on taxes, fraud, and misinformation
I didn't know about the collusion regarding oil production, that makes sense as well, but I thought the inflation was myriad and mostly had to do with the Federal Reserve printing all of this money while having near 0% interest rates, driving housing (real estate) costs (prices), and the sheer amount of money printed (the like M2 money supply graph) and that money actually making an impact, making it's way into the real economy. I thought and still most do, think that supply chains and dedollarization have a role to play in that as well such as China decoupling from the U.S. bond market played a role as well, which is all related and that Gov. borrowing from the Fed, especially to keep the U.S. economy going during the pandemic further had an effect and lasting impact and role in inflation, especially since the real economy suffered as local businesses hurt much during this period while Amazon and the big businesses (Walmart, John Deere, Bayer-Monsanto, etc.) are lesser affected because this gov. Pandemic spending doesn't change the nature of the economy, which is highly financialized already and benefits Wall St. So it, this, only exacerbated the already quite ruined economy; this economy and system, that rewards leanness and efficiency for quarterly profits (Wall St., -> stock prices). So in it's increasing leanness, the U.S. government faces a huge dillemma and problem in trying to hold onto it's ownership of the world reserve currency while it's industry is weak, especially compared tl China, and the dollar is increasingly weaker always still, so what to do? Invoke WWIII on China and Russia to remove all competition from global hegemony?
I agree with this understanding of what is happening. Almost all the young members of my family have gone hard right. They are bitter and have a venomous hatred for Trudeau. They get their news from social media.
The only area that I seem to be able to make them see reality is that the wealthy are not paying their fair share of taxes. They believe in climate change but aren’t willing to sacrifice anything. They like the easy scapegoat exclamations from Poilievre and are so desperate for change that they don’t want to think about details.
I Wou challenge you on the question of inflation and its cause. It’s nothing to do with oil. 3 sources in order 1. Climate Change (which includes the pandemic and some regionalization) 2. De-globalization 3. Corporate consolidation and price gouging.
Try explaining those to people who don’t want details and don’t have a basic understanding of economics!
There is no question the price of oil went up due to collusion. There is clear evidence that OPEC and US producers were communicating, including publicly, to keep prices up. The same oil companies that are backing the conservatives who claim the price of oil went up because of the carbon tax are the ones who jacked up the price of oil and had record profits.
Yes the oil industry has always had collusion inside and out of the weak OPEC members. But strategic reserves were drawn down to moderate prices. Oil prices have fluctuated sharply higher even when inflation was low. Derivatives and long contracts have always sheltered large companies who need oil for consumer goods production. Even the Ukrainian war didn’t hit oil prices as much as anticipated. Because the Greek ships have sold so much Russian oil. But it was a big component. I’m putting that war as categorized under de globalization.
I didn't know about the collusion regarding oil production, that makes sense as well, but I thought the inflation was myriad and mostly had to do with the Federal Reserve printing all of this money while having near 0% interest rates, driving housing (real estate) costs (prices), and the sheer amount of money printed (the like M2 money supply graph) and that money actually making an impact, making it's way into the real economy. I thought and still most do, think that supply chains and dedollarization have a role to play in that as well such as China decoupling from the U.S. bond market played a role as well, which is all related and that Gov. borrowing from the Fed, especially to keep the U.S. economy going during the pandemic further had an effect and lasting impact and role in inflation, especially since the real economy suffered as local businesses hurt much during this period while Amazon and the big businesses (Walmart, John Deere, Bayer-Monsanto, etc.) are lesser affected because this gov. Pandemic spending doesn't change the nature of the economy, which is highly financialized already and benefits Wall St. So it, this, only exacerbated the already quite ruined economy; this economy and system, that rewards leanness and efficiency for quarterly profits (Wall St., -> stock prices). So in it's increasing leanness, the U.S. government faces a huge dillemma and problem in trying to hold onto it's ownership of the world reserve currency while it's industry is weak, especially compared tl China, and the dollar is increasingly weaker always still, so what to do? Invoke WWIII on China and Russia to remove all competition from global hegemony?
I agree with this understanding of what is happening. Almost all the young members of my family have gone hard right. They are bitter and have a venomous hatred for Trudeau. They get their news from social media.
The only area that I seem to be able to make them see reality is that the wealthy are not paying their fair share of taxes. They believe in climate change but aren’t willing to sacrifice anything. They like the easy scapegoat exclamations from Poilievre and are so desperate for change that they don’t want to think about details.
I Wou challenge you on the question of inflation and its cause. It’s nothing to do with oil. 3 sources in order 1. Climate Change (which includes the pandemic and some regionalization) 2. De-globalization 3. Corporate consolidation and price gouging.
Try explaining those to people who don’t want details and don’t have a basic understanding of economics!
There is no question the price of oil went up due to collusion. There is clear evidence that OPEC and US producers were communicating, including publicly, to keep prices up. The same oil companies that are backing the conservatives who claim the price of oil went up because of the carbon tax are the ones who jacked up the price of oil and had record profits.
Yes the oil industry has always had collusion inside and out of the weak OPEC members. But strategic reserves were drawn down to moderate prices. Oil prices have fluctuated sharply higher even when inflation was low. Derivatives and long contracts have always sheltered large companies who need oil for consumer goods production. Even the Ukrainian war didn’t hit oil prices as much as anticipated. Because the Greek ships have sold so much Russian oil. But it was a big component. I’m putting that war as categorized under de globalization.
So I still think my order of causes is correct.