I didn't even think of it but you're right. The prices are insanely high, at least partially due to greed. Meanwhile wages climb slow or not at all, also at least partially due to greed.
The on-the-nose note about the economy being geared towards the rich is sad, but true. For the rich folk it's life on easy mode, and for the rest of us it's suffering until the law changes and is enforced properly to help even those who aren't rich. But changes are unlikely to happen because those who pass the laws are mostly bought by the rich folk to vote in a way that benefits the rich folk. Screws the little guy, but that's how it is.
Protectionist policy for specific industries (reducing import competition) doesn't help the consumer pricing either. Wages have not kept up with inflation (since 2019 30% vs. 15-16%).
It's the difference between debt/assets that benefit from inflation, or cash, which is devalued from inflation. Gen Z/Gen A are being priced out of their own future (housing, families, assets) while being told they're not working hard enough (when their take home isn't enough to afford renting a 2 bedroom).
Or, you know, pricing goods to provide maximum profit within the current market, just as they have pretty much always been. Point is, the "greed" has always been there, it's the market conditions that have changed.
19
u/BalticHorndog 7h ago
I didn't even think of it but you're right. The prices are insanely high, at least partially due to greed. Meanwhile wages climb slow or not at all, also at least partially due to greed.
The on-the-nose note about the economy being geared towards the rich is sad, but true. For the rich folk it's life on easy mode, and for the rest of us it's suffering until the law changes and is enforced properly to help even those who aren't rich. But changes are unlikely to happen because those who pass the laws are mostly bought by the rich folk to vote in a way that benefits the rich folk. Screws the little guy, but that's how it is.