Inflation isn't the problem! The real problem is employers are shafting workers

[Uncle Joe]

More inflation buzz today. The U.S. consumer price index for January rose at an annual rate of 7.5 percent, the largest such increase since 1982.

Yes, prices are increasing. But would you prefer a recession? As a practical matter, that’s the choice the Fed gives us. When the Fed puts on the brakes, it often pushes the economy into a ditch. A recession will cause far more hardship for many more Americans than inflation is now causing.

Want to control inflation? Don’t do it by drafting millions of workers into the inflation fight by slowing the economy. Better to ride out the storm — prices will slow down as shortages are overcome (although don’t expect corporations to reverse their price hikes). Or there’s always stronger medicine — price controls, windfall profits taxes, and antitrust.

Most importantly, focus on the real problems facing working Americans — the power imbalance that’s been keeping wages and working conditions down (adjusted for inflation) while pushing profits and stock prices up.

(snip)

https://robertreich.substack.com/p/employers-shafting-workers

[WA-03 Democrat]

1. Removing Trump's

Bullshit tariffs would be a way to get prices down fast too.

[Rebl2]

3. So true

[multigraincracker]

2. Don't leave out Price Fixing by big business

monopolies. BUST THE TRUST.

[Farmer-Rick]

4. Wow, that's a great article, thanks for posting.

Here's some of it that is even better than the first 3 paragraphs.

"Specifically, stop employers from using five tactics that are seriously harming working people. Three of them are legal but shouldn’t be. No other advanced nation allows its working people to be treated this way."

The five are: Forced Overtime, Forced Arbitration, Unpredictable and Unstable Scheduling, Wage Theft and Misclassifying Fulltime Employees as Independent Contractors.

I would add providing no paid leave, maternity leave, sick leave or any hardship leave, especially at a time when a deadly pandemic is still killing over 400,000 Americans a year.

I know of a waiter who passed out and ended up in the hospital with COVID...yeah, no vaccine. This is TN where the propaganda is thick, but he was 25, so after 3 days he could breathe again. He was in the hospital for a week. He got out went to collect his paycheck and they told him he was fired even though his friend and coworker had told them he was in the hospital. When he asked why, they told him because he failed to show up for work. When he said he was in the hospital, the manager just shrugged.

Luckily he had a part-time job too (that he hadn't lost) and within 30 days he had found a better paying job. So, not awful for him but damn that employer. How cruel can you be?

He has gotten vaccinated since then, I'm glad to say.

[Uncle Joe]

5. I couldn't agree more Farmer-Rick,

that is cold-blooded.

Thanks for the addition.