rbreich ,
@rbreich@masto.ai avatar

The latest numbers show inflation cooling.

But many still struggle with rent & gas prices — which contributed to 70% of April inflation.

Just so happens that recent investigations have found evidence of price-fixing in both industries.

High interest rates won't fix that.

Arapalla ,
@Arapalla@mastodon.social avatar

@rbreich

Welcome to Australia.

And the Reserve Bank only knows one way to deal with it.

sglerman95814 ,
@sglerman95814@mstdn.social avatar

@rbreich
Welcome to the Gilded Age II. Inequality, corruption and decadence characterize it. In general, problems caused by people can be fixed by people.

stemurray ,
@stemurray@awscommunity.social avatar

@rbreich Thought this was interesting re corporate rent-seeking
https://www.theguardian.com/business/article/2024/may/15/uk-firms-accused-of-profiteering-study-finds-margins-rose-30-percent-post-pandemic

teajaygrey ,
@teajaygrey@rap.social avatar

@rbreich I'm no financial wizard, but apparently there are recent reports that more (Americans at least, but presumably other national citizens may also be in similar circumstances) people who have maxed out credit lines at the moment, purportedly in response to struggling to make ends meet with rising prices and using credit cards and such to do so.

godofbiscuits ,
@godofbiscuits@sfba.social avatar

@rbreich but cnn is saying a large bank is about to suggest that corporate greed isnt to blame for inflation! /sarcasm

Stickerj ,

@rbreich

mzedp ,
@mzedp@mas.to avatar

@rbreich Incredible how the fossil industry can effectively play kingmaker of the USA by playing with fuel prices.

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