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California Girl's avatar

Agreed. One solution is to privatize key industries. Which won't happen in the USA because capitalism is in charge, and it will not accept any diminution of its control. Period. As soon as someone suggests this idea, the airwaves will fill with cries of "Communism!". Which has become America's favorite epithet. In actuality, capitalism has become fascist. Another word we are not allowed to utter.

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Martin Bassani's avatar

Dr. Wolf offers an overly simplistic explanation. At some point he says that it is fair to ask why employers are doing this now, as opposed to some time ago. Presumably the profit motive does not fluctuates. He then proceeded to offer no explanation why employers chose to get away with higher profits now.

Looking at the totality of evidence, it appears to me that the West is committing a suicide on multiple fronts. Who makes such decisions and why? Inflation is both a result of misguided decisions serving ultimately serving financial elites and a deliberate destruction of real economy. The system has done everything possible to reduce capacity to deliver real products, from disrupting supply chains, sabotage of processing plants, reduction of energy flows, to reduction of key supplies like fertilizers, etc. They have also reduced the number of workers through a variety of methods, COVID jabs not excluded. Yes, there are basic capitalist contradictions at work but they simply do not begin to explain what is really happening.

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