MCViewPoint

This the introduction of the latest Senator Casey Update. He has my best interests at heart.

“Like most Americans, you’ve probably noticed that your budget is being stretched thinner these days. Even as inflation has cooled, the prices of everyday items are still high. Big corporations want you to believe that it’s because of rising costs, but there’s something else going on, something I call greedflation.

Greedflation is a practice where corporations raise prices faster than the rate of inflation to increase their own profits. And it’s happening everywhere.

From groceries and paper goods to cleaning supplies and entertainment, nearly every category of your family’s budget has likely seen price increases due to greedflation. In 2021 and 2022, the average family in Pennsylvania spent thousands more a year due to greedflation, while at the same time corporations were raking in record profits. In fact, while inflation rose by 14% between mid-2020 and mid-2022, corporate profits rose by 74% – five times as much as inflation.

I’ve been calling out corporate greedflation and, late last year, I released my first report on this issue. Here’s an overview:”

The bottom line of the update is faceless, unelected, career bureaucrats will be deciding who is making too much, how much is too much and the penalties which in the end will be born by the public.

Of course this requires more bureaucracy, staff, buildings, copiers for implementing new regulations in every state to save us money and save us from ourselves. All the things government does best.

One of the more memorable statements by George Will is corporations are not tax payers (nor penalty payers), they are tax collectors. Taxes and penalties are ultimately costs of doing business, if the company is still in business.

Prices are going up, mainly due to government (which includes Casey) but the market solution is the best solution. The consumer should decide to buy or not and whom to buy from or not. Casey uses soft drink company profits as an example. There is a plethora of drink brands and prices to choose from. We don’t need the government to mess up that business any more than it already is.

It is the market, i.e. you and I, who should best determine which companies survive and which don’t.

“The year 2022 did see some inflationary events like the war in Ukraine and various supply

chain disruptions for micro processing chips, lumber and other goods.”

Lumber and tariffs. A brilliant example of government skewering the public for the benefit of corporate campaign contributors.

Tariffs raise cheap import prices so far above the price of domestic suppliers that the domestic suppliers can raise their prices to almost that of imports. Screw you!

Ukraine! Swiss and Spanish villa prices have “inflated” thanks to US taxpayer supplied cash infusions to foreign government officials.

“Other analysts have reached similar conclusions as the Federal Reserve research and our

report, finding that increased corporate profits comprise a large portion of increased

inflation in the post-pandemic period. These analysts include the President of the European

Central Bank, the International Monetary Fund (IMF), the Economic Policy Institute (EPI),

and Roosevelt Institute, among others.”

The last place I would look for accurate/unbiased information is the Fed, central banks and government foreign aid (bribery) institutions.

Casey neatly sidesteps the main causes by far of inflation. Wild welfare-warfare government spending and money printing by the Federal Reserve to cover those costs.

If Casey was serious about inflation he would:

Admit government malfeasance is the main culprit

Demand a balanced budget (unfortunately that requires a non-interventionist foreign policy and reduced campaign contributions, a non-starter)

Demand an audit and elimination of the Federal Reserve

Resignation from public life for being part of the government wrecking ball on American life.

Be seeing you