Inflation is out of control

[Flopper]

His claim was, " the government is responsible for only 25% to 30% of inflation"

Maybe he thinks the Federal Reserve isn't the government?

The Federal Reserve is not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. It is not funded by congress. The board of governors and their employees are funded not by congress but rather the banks that make up the reserve

The chairmen of the federal reserve and the board of governors are appointed by congress for long terms. The board is not part the admenastration. It doesn’t answer to the president. The congress created the Fed so it would be isolated from politics.

 

[Ringo]

The greed of the capitalists.
The bourgeois are only interested in profit. Why are the store shelves full? Because the price of goods is high. Anything that can't be bought goes to the dump. The worker gets three pennies for his work, the boss billions.

A junkyard of new bicycles. A crisis of overproduction. It's clear.

 

[Toddsterpatriot]

The Federal Reserve is not a part of the federal government, but they exist because of an act of Congress. Their purpose is to serve the public. It is not funded by congress. The board of governors and their employees are funded not by congress but rather the banks that make up the reserve

The chairmen of the federal reserve and the board of governors are appointed by congress for long terms. The board is not part the admenastration. It doesn’t answer to the president. The congress created the Fed so it would be isolated from politics.

The board of governors and their employees are funded not by congress but rather the banks that make up the reserve

The Fed is self-funded from their own profits.


" the government is responsible for only 25% to 30% of inflation"

And the Federal Reserve is responsible for the rest?

 

[Flopper]

The greed of the capitalists.
The bourgeois are only interested in profit. Why are the store shelves full? Because the price of goods is high. Anything that can't be bought goes to the dump. The worker gets three pennies for his work, the boss billions.

A junkyard of new bicycles. A crisis of overproduction. It's clear.

If store shelves are full and it's not because they were just restocked, it is most likely because the prices are higher than buyers want to pay or put another way demand is shirking relative to supply. The seller will reduce prices to attract customers if it is feasible. If not, he will drop the product and switch to lower price competing products. Manufactures will respond by finding ways to reduce their prices or provide a better product for the price. There has never been a better system for delivering the best goods and services at the lowest price.

Capitalism is of course not perfect. Unfettered capitalism promotes monopolies and inequality and leads to economic recessions and serve inflation; that is it creates a boom and bust economy in which steady growth and long term full employment becomes impossible. We simple have to control the beast which is why unfettered capitalism does not exist in any economically developed country today.

BTW Most unsold products do not go to the dump. There are many secondary markets for unsold goods which include discount stores, online retailing such as on Ebay, and jobbers who buy goods from retailers at very low prices and market them in other countries. For retailers who can't take advantage of these outlets, there are charitable organizations in every city such as food banks and thrifts stores that are always looking for free sellable merchandise.