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Comment on There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America
aramis87@fedia.io 2 months ago
And when the tariffs go away, prices will remain high ....
LadyMeow@lemmy.blahaj.zone 2 months ago
Comment on There's 'overwhelming evidence' tariffs have raised consumer prices, says Bank of America
aramis87@fedia.io 2 months ago
And when the tariffs go away, prices will remain high ....
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shalafi@lemmy.world 2 months ago
Worst part is that prices can’t go down without causing deflation, and that’s economic disaster for all of us.
Even if the top executives voluntarily took a pay cut (LMFAO), that pay is a drop in the bucket vs. any given company’s profit and total employee pay.
No way any CEO or board of directors voluntarily takes a hit on stock prices. How can they? They would simply be replaced by the largest shareholders. Even the smallest want a positive return on their retirement accounts. Stock slipping? Then the fund manager pulls that stock from that fund and moves on. It’s a monstrous, circular clusterfuck.
Worked at one company where the board applauded the CEO saying we were going in the red for two years. But that included a plan to build staff and products. Bet they’re no longer expanding in this uncertain economy. (Funny thing, through a bit of luck and being an awesome group, we made a profit those years anyway.)
Anyway, I don’t see the radical system change/shock we need coming without Great Depression 2.0. Taxing the snot out of the rich ain’t in the cards ATM. :(