Robert Reich: "The Fed is wrongly obsessing about a wage-price spiral — wage gains pushing up prices —when it should be worried about a profit-price spiral—corporate profits driving up prices."

BB: Price Controls?

@bluesbaby maybe a CEO pay & benefits cap? based on the lowest paid employee's pay?

@bluesbaby no one is "worth" multi million salaries, especially not in corporations that exploit workers for less than poverty wages. the president of the US makes $400k/year. why should a CEO make more?

@redenigma

Well, the capitalist model suggests there is no earning limit, which is why the government needs to put up barriers to exploitation in the form of fair taxes, minimum wages, collective bargaining, etc.

@bluesbaby the capitalist model is a failure, but apparently it has excellent propaganda that causes those being destroyed by it to kiss the arses of those destroying them, in the belief that someday they'll be the one with a boot on someone else's neck...

@redenigma

I agree that unfettered capitalism fails regular people, but I argue that a social democracy based on a capitalist economy can work. The fetters have been removed and one party is trying to put them back.

I also agree that propaganda has been very effective in getting people to vote against their own interests.

@bluesbaby oh, obviously it can work. look at Norway, Denmark and Sweden. they're democratic AND capitalist. it's just that the people, and therefore the government, have demanded guardrails against unfettered greed.

@bluesbaby centering the well being of the general population over the desires of a few greedy men makes for a much better, safer and saner society

@bluesbaby Citizens United, allowing lobbying , "think tanks" and opinion to be disseminated as fact, without disclaimer that is IS opinion

@redenigma

Allowing corporations and unions to spend unlimited amounts of money to support their chosen political candidates, which resulted in that lobbying, think tanks, etc.

@bluesbaby and, of course, allowing former congresscritters to move to employment with lobby groups & think tanks after they leave office...

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