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Why Americans are going hungry despite a strong economy
(www.nbcnews.com)
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this post was submitted on 10 Dec 2023
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The recent increase in wages isn't even a patch on the vacuum the wealthy are using. If that was even remotely true then we wouldn't be seeing this article.
Did you read the article? Because it explains why
Short term holding - link
Long term holding - link
From the article - Food is up 25 percent along with rising rent and utilities.
I'm not sure you understand what economists mean by circulation. Money is going up and not coming back down. It has been doing this for decades. The more money that gets trapped at the top and put into the stock market means less money for the working class as a whole. While that sounds like some commie shit, it's really not. Because the working class is the major demand generator in a capitalist economy. Economists want to see that money making the rounds through the entire economy because anyone left out of circulation will impact demand over the long term (and by the time it's a short term problem you're looking at a demand crisis which usually results in pitchforks).
Now we need to talk about rent in the economic way. That profit a monopoly extracts because the market is not competitive enough and it can charge more without providing more value. Land/house rent going up is the classic. That's why the two words are the same. But other necessities are often seen in history as well, including food and utilities as also mentioned in the article. This is relevant because the world recently figured out that the inflation of the last couple years was actually greed and not cost push. They literally just figured out they could use it as an excuse to raise prices well beyond what was necessary. Of course that's not a surprise to anyone who listened to CEOs publicly telling their stockholders they were doing it.
So when you assert that it's not a problem with circulation because rent went up. I have questions about you understanding the economic meaning of those words. The primary means of rent seeking behavior have gone up and wages already were not keeping up. Nobody cares if wages beat inflation last month. We need them to beat decades worth of inflation and stagnant wages. We need 47 trillion dollars back from the wealthy leeches who did nothing more than raise prices and pay their workers less.
Just an FYI, you're using all of these terms incorrectly.
And your lack of understanding is why you say silly things like this.
Perhaps don't go on at length as if you know about a topic when your only exposure to said topic is internet forums.
Lmao. No. Rent seeking behavior is economics 101.
Indeed. Actual rent-seeking is, for sure. That's why it's kind of weird you're confused by it.
Sure buddy.