January 2024 - cypherpunks - lists.cpunks.org

Trump Should Reveal Atty Advice In Docs Case, Feds Say
by Gunnar Larson 09 Jan '24

09 Jan '24

Trump Should Reveal Atty Advice In Docs Case, Feds Say <https://www.law360.com/competition/articles/1782912?nl_pk=6416fd97-1dc4-4e0…> By David Minsky The Special Counsel's Office urged a Florida federal court to force former President Donald Trump to reveal advice he received from his attorneys about retaining classified records if he plans to cite that as a defense in his upcoming criminal trial, in which he's accused of illegally keeping said documents after leaving office in 2021. 2 documents attached | Read full article » <https://www.law360.com/competition/articles/1782912?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1782912?nl_pk=6416fd97-1dc4-4e0…>

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Justice Kagan Cites Ethics Code For 1st Time In Recusal
by Gunnar Larson 09 Jan '24

09 Jan '24

Justice Kagan Cites Ethics Code For 1st Time In Recusal <https://www.law360.com/competition/articles/1783340?nl_pk=6416fd97-1dc4-4e0…> By Jack Karp Justice Elena Kagan became the first U.S. Supreme Court justice to cite the court's new code of conduct when choosing not to participate in cases, the court announced Monday. Read full article » <https://www.law360.com/competition/articles/1783340?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1783340?nl_pk=6416fd97-1dc4-4e0…>

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Worker Convicted Of Stealing Secrets Has No Luck At 9th Circ.
by Gunnar Larson 09 Jan '24

09 Jan '24

Worker Convicted Of Stealing Secrets Has No Luck At 9th Circ. <https://www.law360.com/competition/articles/1783013?nl_pk=6416fd97-1dc4-4e0…> By Andrew Karpan The only employee of a Santa Clara, California, chipmaker to be convicted for involvement in a scheme to steal trade secrets in order to launch a startup has failed to convince a federal appeals court that he shouldn't have to face three years of probation and pay a fine, because he had problems using the files he was found guilty of stealing. Opinion attached | Read full article » <https://www.law360.com/competition/articles/1783013?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1783013?nl_pk=6416fd97-1dc4-4e0…>

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What To Know About FCA Cybersecurity Enforcement
by Gunnar Larson 09 Jan '24

09 Jan '24

What To Know About FCA Cybersecurity Enforcement <https://www.law360.com/competition/articles/1782608?nl_pk=6416fd97-1dc4-4e0…> Now is a good time for practitioners, government contractors and potential relators to review recent developments in cybersecurity-related False Claims Act enforcement, and consider best practices for navigating this space in the new year, say Ellen London at London & Stout, and Li Yu and Molly Knobler at DiCello Levitt. Read full article » <https://www.law360.com/competition/articles/1782608?nl_pk=6416fd97-1dc4-4e0…> | Save to favorites » <https://www.law360.com/competition/articles/1782608?nl_pk=6416fd97-1dc4-4e0…>

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GC Cheat Sheet: The Hottest Corporate News Of The Week
by Gunnar Larson 09 Jan '24

09 Jan '24

GC Cheat Sheet: The Hottest Corporate News Of The Week <https://www.law360.com/compliance/articles/1782224?nl_pk=ab5ce197-c1fb-4d8e…> By Michele Gorman A Wells Fargo pension fund stockholder hit the big bank with a derivative complaint against its board for not having proper diversity, equity and inclusion monitoring systems, and a nonprofit in North Carolina sued to take down a state law banning anyone but a fully licensed attorney from offering legal advice. These are among the stories in corporate legal news you may have missed in the first week of the new year. Read full article » <https://www.law360.com/compliance/articles/1782224?nl_pk=ab5ce197-c1fb-4d8e…> | Save to favorites » <https://www.law360.com/compliance/articles/1782224?nl_pk=ab5ce197-c1fb-4d8e…>

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Fwd: [OpenRecords] Request FOIL-2022-056-01966 Acknowledged
by Gunnar Larson 09 Jan '24

09 Jan '24

This morning Bloomberg is making jokes about going to Austin and tipping off X.com on a manual issue. Turns out my friend is the head of ethics for Boeing, Bloomberg: https://www.linkedin.com/in/tommy-preston-jr-50887a4b?utm_source=share&utm_… If Bloomberg makes many more Austin jokes who knows what may happen on ethics and manuals (below). ---------- Forwarded message --------- From: <donotreply(a)records.nyc.gov> Date: Thu, Feb 10, 2022, 2:46 PM Subject: [OpenRecords] Request FOIL-2022-056-01966 Acknowledged To: <g(a)xny.io> The New York City Police Department (NYPD) has *acknowledged* your FOIL request FOIL-2022-056-01966 <https://a860-openrecords.nyc.gov/request/view/FOIL-2022-056-01966>. You can expect a response on or about Wednesday, August 3, 2022. Additional Information: Your request has been assigned to Police Officer Covo (646-610-6458). *Note: Due to issues caused by the COVID-19 pandemic there may be extensive delays, lasting up to one year, in determining your request.* Please visit FOIL-2022-056-01966 <https://a860-openrecords.nyc.gov/request/view/FOIL-2022-056-01966> to view additional information and take any necessary action.

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SpyVeillance: Thread
by grarpamp 09 Jan '24

09 Jan '24

Tucker: NSA planned to leak my emails to media outlets https://nypost.com/2021/07/07/tucker-carlson-claims-he-was-unmasked-by-nsa-… https://www.youtube.com/watch?v=U9bKEPWviEU Tucker: NSA Disclosed My Emails https://www.youtube.com/watch?v=QlitOLX8KtU SpyVeillance: People are Concerned https://www.youtube.com/watch?v=e-2n7lEi--M NSA Spying on US Citizens https://video.foxnews.com/v/6262789335001/ Glenn Greenwald on NSA https://www.youtube.com/watch?v=bll9mmodikM Styx's Pussy Responds

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Cryptocurrency: Jamie Dimon JPMorgan Ponzi Gets Criminally Convicted on Fraud Racketeering
by grarpamp 09 Jan '24

09 Jan '24

https://nypost.com/2022/08/10/ex-jpmorgan-metals-traders-convicted-of-fraud… https://violationtracker.goodjobsfirst.org/parent/jpmorgan-chase JPMorgan fined $36B in criminal and sanctions since 2000. Cryptocurrencies never required a bailout from any Government.

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Cryptocurrency: Bankster Warren Launches WarOnCrypto To Kill Freedom, Wallets, Miners, Fight Back!!!
by grarpamp 09 Jan '24

09 Jan '24

> https://www.nobsbitcoin.com/the-digital-asset-anti-money-laundering-act-is-… > https://decrypt.co/117221/senator-warren-crypto-bill-kyc-self-custody-walle… > https://www.washingtonexaminer.com/policy/technology/elizabeth-warren-crypt… > https://www.theguardian.com/us-news/2022/dec/14/elizabeth-warren-crypto-reg… > https://cointelegraph.com/news/us-sen-elizabeth-warren-says-crypto-will-rui… > https://www.cnet.com/google-amp/news/elizabeth-warren-targets-crypto-money-… > https://www.realclearpolitics.com/2022/11/23/regulate_crypto_or_itll_take_d… > https://www.theblock.co/post/194941/warren-marshall-introduce-bill-to-tight… > > https://www.warren.senate.gov/imo/media/doc/DAAML%20Act%20of%202022.pdf > https://www.durbin.senate.gov/imo/media/doc/letter_to_fidelity_investments_… > https://www.fatf-gafi.org/media/fatf/documents/recommendations/March%202021… Elizabeth Warren’s crypto bill targets financial freedom, not fraud https://reason.com/2022/12/16/elizabeth-warrens-crypto-bill-targets-financi… Sen. Elizabeth Warren is coming after your financial privacy with her anti-crypto bill. https://www.warren.senate.gov/newsroom/press-releases/warren-marshall-intro… https://www.warren.senate.gov/download/12/15/2022/daaml-act-of-2022 https://astralcodexten.substack.com/p/why-im-less-than-infinitely-hostile https://reason.com/2021/12/01/turks-flee-to-gold-bitcoin-and-foreign-curren… https://reason.com/video/2022/03/11/the-canadian-government-couldnt-stop-bi… https://www.cnn.com/2022/02/20/americas/canada-trucker-protest-covid-sunday https://www.marshall.senate.gov/newsroom/press-releases/marshall-warren-int… https://www.wired.com/story/20-years-after-911-surveillance-has-become-a-wa… https://www.wired.com/2011/09/911-surveillance/ https://time.com/6096903/september-11-legal-history/ https://reason.com/2016/04/27/snowden-speaks/ https://www.aclu.org/news/national-security/the-privacy-lesson-of-9-11-mass… https://www.brennancenter.org/our-work/analysis-opinion/rolling-back-post-9… https://www.cato.org/blog/warren-targets-financial-privacy-wake-ftx-fall J.D. Tuccille | 12.16.2022 Senator Warren wants to extend the financial surveillance state cooked up by drug warriors and anti-terrorism fearmongers to cryptocurrencies. Beyond politically connected scammers and frothy valuations, the attractiveness of cryptocurrencies lies in their potential for doing what cash does, but across distances. When governments inflate money, people turn to other stores of value, including crypto. When politicians and their financial-sector accomplices block transactions of which they disapprove, people look for alternative means of doing deals without permission, crypto among them. So, when officials talk of stripping privacy and autonomy from cryptocurrencies such as bitcoin, you know they would do the same to cash if they could. "Rogue nations, oligarchs, drug lords, and human traffickers are using digital assets to launder billions in stolen funds, evade sanctions, and finance terrorism," Sen. Elizabeth Warren (D–Mass.) huffed this week. "The crypto industry should follow common-sense rules like banks, brokers, and Western Union, and this legislation would ensure the same standards apply across similar financial transactions. The bipartisan bill will help close crypto money laundering loopholes and strengthen enforcement to better safeguard U.S. national security." The bipartisan bill to which Warren refers sports the tendentious moniker, Digital Asset Anti-Money Laundering Act of 2022. Stripped of grandiose claims, it attempts to extend the financial surveillance state cooked up by drug warriors and anti-terrorism fearmongers to cryptocurrencies. Warren and company picked an opportune moment to do just that, while the public is occupied with a headline-grabbing financial scandal that taints crypto's already sketchy reputation. In fact, Sam Bankman-Fried's shenanigans at FTX, perhaps concealed by generous political donations, look old-school, including mingling personal and corporate funds in ways that would have raised red flags long before digital tokens. But they cast further shade over a crypto sector that had yet to gain acceptance by the American mainstream. After years of breathy warnings that cryptocurrency is shady, and speculative values detached from reality, many people are prepared to believe the worst. "Crypto is an interesting technology that had one terrible piece of bad luck: its standard-bearer, bitcoin, went up in value 10,000x over a few years," wide-ranging commentator Scott Alexander wrote earlier this month. "When something goes up in value 10,000x, it's hard to think of it in any other context. Whatever it was before, now it's 'that thing which went up in value 10,000x'." Alexander points out that, despite the shellacking the crypto sector is taking in the press and from politicians, it remains popular in countries where it's used for its intended purpose as a store of value and a means of exchange in defiance of authoritarian controls. "Vietnam uses crypto because it's terrible at banks," he notes. "There's a history of the government forcing banks to make terrible loans, and then those banks collapsing." In socialist Venezuela, "cryptocurrency provides a hard-to-ban alternative which has caught on among Venezuelan hustlers and small businessmen." This played out in Turkey when the government got serious about turning the lira into toilet paper and people bought gold, foreign currency, and bitcoin. Bitcoin also became a means for Canadian protesters to work around government attempts to financially isolate their protest movement. "Of course a technology centered around avoiding governance and banking failures will be centered in the countries with the most governance and banking failures!" Alexander adds. But any technology that can be used by good people can also be used by bad people. That's as true of window curtains as it is of crypto (or cash). The same privacy sought by a family going through evening routines might serve a terrorist building bombs, just as businesses and activists evading a hostile state might use the same currency that purchases bomb parts. Politicians love playing up potential abuses. "Following the September 11, 2001 terrorist attacks, our government enacted meaningful reforms that helped the banks cut off bad actors' from America's financial system. Applying these similar policies to cryptocurrency exchanges will prevent digital assets from being abused to finance illegal activities without limiting law-abiding American citizens' access," insists Sen. Roger Marshall (R–Kan.), co-sponsor of the Digital Asset Anti-Money Laundering Act of 2022. When politicians hold up the post-9/11 panic that supercharged the surveillance state as their model, take them seriously. The legacy of that time is widely recognized as an over-powerful government that intrudes into Americans' lives, subjecting our activities and communications to monitoring and diminishing our liberty. With their bill, Warren, Marshall, and company want to extend that surveillance to financial technology that was explicitly developed to empower individual liberty and privacy. "The bill first seeks to classify self‐<U+200B>hosted wallets as money service businesses," cautions the Cato Institute's Nicholas Anthony. "For those unfamiliar, self‐<U+200B>hosted wallets are merely the digital equivalent of a wallet in your pocket or purse. ... Where much of the financial surveillance in the United States depends on what's known as the third‐<U+200B>party doctrine, self‐<U+200B>hosted wallets offer individuals protection from government surveillance and censorship. Yet Senator Warren's bill would put an end to that protection." The bill, says Anthony, would "classify cryptocurrency miners, validators, and network participants as money service businesses." It "also sets its sights on cryptocurrency mixers" who "offer individuals the opportunity to enhance their privacy when using cryptocurrencies on public blockchains." In fact, the bill's language specifies that "the Secretary of the Treasury shall promulgate a rule that prohibits financial institutions from ... handling, using, or transacting business with digital asset mixers, privacy coins, and other anonymity-enhancing technologies." Senators Warren and Marshall talk about "terrorism" and "drug lords," but their clear goal (whether or not its within their reach, which is another matter) is to strip crypto of its ability to be used privately and without permission in the same way we use cash. Their objections to digital money also apply to banknotes and coins. Ultimately, it's not crypto they fear, but our liberty to earn, purchase, save, and donate without being impoverished, scrutinized, or stopped by government officials. Bitcoin and other digital tokens have their flaws, but they're an attempt to fulfill a widespread desire for reliable stores of value and means of exchange independent of control. And while all such forms of money are vulnerable to fraud and theft, that's already illegal. The Digital Asset Anti-Money Laundering Act of 2022 doesn't even attempt to address such crimes, instead, it's an attack on financial privacy and liberty. For all the reasons politicians are coming after crypto, you can bet that cash is next.

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Cryptocurrency: Biden and Govts LIE About Inflation Theft
by grarpamp 09 Jan '24

09 Jan '24

The US President is gaslighting the people about inflation. https://shadowstats.com/ https://i.redd.it/ovvlyxfbho3c1.png [–]Boulley_007 439 points440 points441 points 2 days ago (160 children) Got to love community notes permalink embed save report reply [–]Bloated_Hamster 313 points314 points315 points 2 days ago (75 children) Best invention ever tbh. Works against both sides and it's basically a "quit your bullshit" box. permalink embed save parent report reply [–]DaVirus 84 points85 points86 points 2 days ago (73 children) Literally the only good thing Twitter ever did permalink embed save parent report reply [–]Criks 13 points14 points15 points 2 days ago (52 children) Was it before or after musky? I never used the site. permalink embed save parent report reply [–]Sedo-ku 108 points109 points110 points 2 days ago (11 children) After permalink embed save parent report reply load more comments (10 replies) [–]Atlienxx 61 points62 points63 points 2 days ago (7 children) Jack Dorsey was owned by to many people to do this. permalink embed save parent report reply [–]PuddingResponsible33 9 points10 points11 points 2 days ago (5 children) So was Twitter just tapped by bots and high level officials to just create a fog? Seems a perfect way to cover a bigger story. permalink embed save parent report reply [–]thecoat9 8 points9 points10 points 2 days ago (2 children) Perhaps, but I think it's much simpler than that. Basically government entities engaged in censorship via proxy cajoled via the threat of regulatory changes. There were in some cases direct pipelines established between government entities and social media platforms where said government actors could directly report content that didn't fit a preferred narrative. While this did curb some of the rampant insane bullshit you see a lot of since the birth of the internet, it also suppressed truth or in cases where the truth isn't really known, legitimate highly plausible speculation. permalink embed save parent report reply [–]PuddingResponsible33 3 points4 points5 points 2 days ago (0 children) After Facebook had a whistleblower on 60 minutes and literally 48 hours later changed it's name to meta. Dealing with Cambridge analytics I believe. I really try to stay away from all social media. But the mob of reddit I enjoy. permalink embed save parent report reply load more comments (1 reply) [–]Faxis8 2 points3 points4 points 2 days ago (0 children) It was a “consensus generator”. The bots were how they manipulated users and signaled the media what to report. permalink embed save parent report reply load more comments (1 reply) load more comments (1 reply) [–]warblade7 51 points52 points53 points 2 days ago (30 children) It was one of the main reasons why Musk bought Twitter. The bias in censorship and information dispersal was heavily in favor of one side of the political spectrum. permalink embed save parent report reply load more comments (30 replies) load more comments (1 reply) load more comments (20 replies) load more comments (1 reply) [–]Basic_Hair_9549 8 points9 points10 points 2 days ago (0 children) LOL no wonder they are after Elon... aggressively permalink embed save parent report reply [–]jbe061 3 points4 points5 points 2 days ago (4 children) It's s good. Reddit needs some form of this permalink embed save parent report reply [–]thirteen-thirty7 1 point2 points3 points 2 days ago (3 children) It's called a comment section. permalink embed save parent report reply load more comments (3 replies) [–]treerabbit23 9 points10 points11 points 2 days ago (72 children) 2-3% inflation is considered normal/desirable, mostly because it provides a disincentive to savings and an incentive to investment. permalink embed save parent report reply [–]Jub-n-Jub 42 points43 points44 points 2 days ago* (26 children) Man, that's a rough statement to read. What kind of just system would punish people that try to save? These same people are the ones that are able to recover from unexpected expenses. You know, because they had been putting away money just in case there is an unexpected expense. And then to incentivize gambling is also disgusting. If I put in an honest days labor roofing I should be able to put the value of that labor aside to pay for my child's "x". If "x" happens 20 years from when I saved it, IT SHOULD HAVE THE SAME VALUE AS WHEN I EARNED IT. To then tell that roofer that he needs to learn how to invest so he doesn't go broke is criminal. No different than giving someone a paycheck, that they earned, and telling them that they will lose it all unless they take it to the casino. Fiat is slavery. Edit: typo permalink embed save parent report reply [–]pie1983 9 points10 points11 points 2 days ago (0 children) Well said. Can’t believe I used to buy the Keynesian bullshit… permalink embed save parent report reply [–]RuralDisturbance 5 points6 points7 points 2 days ago (0 children) and 19 upvotes permalink embed save parent report reply [–]ST-Fish 5 points6 points7 points 2 days ago (1 child) Whenever I explain Bitcoin to anyone without using the word "Bitcoin" or "Crypto" they inherently get it and understand it's value proposition. Too bad the public image of it is so incredibly tainted by the degen gambler crypto bro community. permalink embed save parent report reply [–]Jub-n-Jub 1 point2 points3 points 2 days ago (0 children) Yeah. I have alsonstopped using saying the word bitcoin when talking to people about economics, inflation, etc. Tou can almost see the wall come up. permalink embed save parent report reply [–]clicksanything 2 points3 points4 points 2 days ago (0 children) Yup 100% Fiat propaganda is very powerful, most people still see it as "things are getting more expensive" rather than "my dollars are losing purchasing power". Unfortunately I don't see this sentiment going away anytime soon, used to go out of my way to educate people in my life about Bitcoin. I dont do that anymore bc I know theres trillions of marketing and ads telling them to look the other way. permalink embed save parent report reply [–]ProThoughtDesign 2 points3 points4 points 2 days ago (0 children) That first question has a pretty simple explanation. It's not a just system. It's a system designed to produce consumers, plain and simple. permalink embed save parent report reply [–]GeorgeKaplanIsReal 2 points3 points4 points 1 day ago (0 children) A system that doesn’t want itself to collapse. Commercialism and consumerism require consumers and spending. Hell even Friedman - a noted libertarian economist - embraced the idea of a consistent annual increase in the money supply (which is essentially inflationary). permalink embed save parent report reply [–]C01n_sh1LL 1 point2 points3 points 1 day ago (0 children) These same people are the ones that are able to recover from unexpected expenses. You know, because they had been putting away money just in case there is an unexpected expense. Hard to corral folks into debt traps if they're able to recover from unexpected expenses. And that affects the profits of the lenders, which in turn hurts their investors, and therefore any person or market force encouraging too much savings, is inherently hostile to the system as designed. permalink embed save parent report reply load more comments (18 replies) [–]Rice-Fragrant 14 points15 points16 points 2 days ago (2 children) You mean forced to GAMBLE. Why should an elderly woman be forced to become an “investor.” If she had SOUND MONEY she wouldn’t have this problem. The young people with their student loans, cost of living etc can’t even keep up and they are getting priced out of real estate etc because of all this so called “insentive to invest.” Real inflation l/debasement rates is closer to about 7-10% a year when looking on rent, food, services over a period of 20 years. permalink embed save parent report reply [–]Jub-n-Jub 2 points3 points4 points 2 days ago (0 children) I can feel the anger from this and I am here for it. I have a simmering rage. I understand where Tyler Durden was coming from. permalink embed save parent report reply load more comments (1 reply) [–]Jub-n-Jub 7 points8 points9 points 2 days ago (1 child) Do you know why inflation is targeted at 2%? Don't worry, it's not too deep. That's the historical rate of gold's inflation. No other reason. permalink embed save parent report reply [–]pie1983 5 points6 points7 points 2 days ago (0 children) Don’t confuse the money supply rate of increase and the inflation rate. Prices are falling in gold terms even if the supply of gold increases. That is because we are not only robbed of our purchasing power with fiat, but from the productivity gains too. So this 2% target is BS anyway. It’s closer to 5%. permalink embed save parent report reply [–]larry_bkk 14 points15 points16 points 2 days ago (26 children) I know that's what government economists say, but I have an undergrad minor in econ (enough hours for a major but had to choose) and I swear if I had the time and energy I could explain why zero inflation would be better in the long run. And I wouldn't need the conspiracy theory that 2% inflation is just a way for the bankers and government to steal from you. permalink embed save parent report reply [–]JVorhees 45 points46 points47 points 2 days ago (8 children) If we can't take the word of an econ minor (who would've double majored but they didn't allow him) over published economists what are we even doing? permalink embed save parent report reply [–]theghostofdeno 4 points5 points6 points 2 days ago (5 children) Economists are generally nincompoops. More or less a made up discipline permalink embed save parent report reply [–]larry_bkk 14 points15 points16 points 2 days ago (0 children) True to some extent imo. And note I said government economists; they are all political hacks. Look at Yellen, who as Jamie Dimon pointed out was 100% wrong about inflation being temporary, and she was joined in that misconception by a lot of central bankers. permalink embed save parent report reply [–]JVorhees 2 points3 points4 points 2 days ago (0 children) Don't tell larry_bkk. He almost majored in it. permalink embed save parent report reply load more comments (3 replies) load more comments (2 replies) [–]Ov3rKoalafied 1 point2 points3 points 2 days ago (0 children) Yeah I think in theory, the idea of inflation is that you can continuously reallocate wealth to avoid monopolies / people who bring new ideas/work/benefit to society can benefit from that. Ie, you dilute the ppl that already "made it" in favor of ppl that are just starting and helping progress society. In practice, the wealthy get most of the reallocation b/c there are so many ways to make money by having money permalink embed save parent report reply load more comments (16 replies) [–]jojowhitesox 1 point2 points3 points 2 days ago (2 children) I said the same thing and now people are asking why I am defending inflation. permalink embed save parent report reply load more comments (2 replies) load more comments (10 replies) load more comments (5 replies) [–]samofny 33 points34 points35 points 2 days ago (4 children) These people love starting sentences with "let me be clear..." permalink embed save report reply [–]741BlastOff 16 points17 points18 points 2 days ago (1 child) "Let me be clear..." proceeds to obfuscate, equivocate and prevaricate permalink embed save parent report reply [–]Phenzo2198 7 points8 points9 points 2 days ago (0 children) "Dangit bobby! You can't just make up words." permalink embed save parent report reply load more comments (2 replies) [–]GoldEdit 67 points68 points69 points 2 days ago (39 children) This doesn’t change the fact that companies have risen prices far above global inflation, depending on the industry and company. permalink embed save report reply [–]clear-carbon-hands 5 points6 points7 points 1 day ago (1 child) And have been reporting RECORD PROFITS for several quarters now during shareholder meetings permalink embed save parent report reply load more comments (1 reply) [–]perfect5-7-with-rice 4 points5 points6 points 2 days ago* (2 children) Prices change at different speeds in different industries. Unfortunately items with a low shelf life (food for example) are one of the first to go up since they have to be replaced at higher costs often, and salaries are one of the last to go up. Also don't forget that the official inflation number is hardly accurate. When they say "housing costs are up 5%" but the average person is living in 50sq ft smaller of an area, prices have increased higher than 5%. permalink embed save parent report reply load more comments (2 replies) load more comments (34 replies) [–]ThePikesvillain 184 points185 points186 points 2 days ago (160 children) Is he gaslighting or does he simply not understand what he is talking about? It has blown my mind how many people in high positions do not understand the basic idea that inflation coming down from 8% to 3% does not mean prices are coming down but just that they are going up less quickly. permalink embed save report reply [–]Asleep-Actuary54 128 points129 points130 points 2 days ago (23 children) He knows the truth. Hes just virtue signaling because most will believe it. permalink embed save parent report reply [–]hornybible 52 points53 points54 points 2 days ago (9 children) Biden doesn't tweet his press secretary does permalink embed save parent report reply [–]more_magic_mike 17 points18 points19 points 2 days ago (4 children) I was going to say a better question is if biden knows how to use twitter, or does whoever wrote that tweet understand inflation. permalink embed save parent report reply [–]hornybible 11 points12 points13 points 2 days ago (3 children) Most people love to imagine that propaganda doesn't apply in the US permalink embed save parent report reply [–]John_Smithers 5 points6 points7 points 2 days ago (0 children) It's crazy how few people can recognize propoganda. permalink embed save parent report reply [–]perfect5-7-with-rice 5 points6 points7 points 2 days ago (0 children) As saifedean says, every government is corrupt, our corruption is just more advanced permalink embed save parent report reply [–]TheOneNeo99 4 points5 points6 points 2 days ago (0 children) Thanks to Obama, it's even legal propaganda. permalink embed save parent report reply [–]DreamTypical8533 2 points3 points4 points 2 days ago (1 child) They are representing him. permalink embed save parent report reply load more comments (1 reply) load more comments (2 replies) [–]shad0w_fax 27 points28 points29 points 2 days ago (7 children) And this is also why our education system is FAILING. They want people to be too dumb to think critically and eat this BS up instead. That's the incentive. Fuck these people, throwing our whole society under so they can stay in power and get theirs. permalink embed save parent report reply [–]SargeBangBang7 8 points9 points10 points 2 days ago (1 child) You could say education system, and i wouldn't say you're wrong. You're probably more right than i am, but people need to see through bullshit like that. It's easier now than ever to learn anything. I feel like anyone with an above 50 iq could see Biden is full of shit in this tweet. But i guess i would be wrong. Education is failing, but the individual could do so much better with their resources. permalink embed save parent report reply [–]Suddenrush 2 points3 points4 points 2 days ago (0 children) And that’s the issue with the education system. It’s not what students are being taught, it’s how they are learning how to learn, aka, critical thinking skills. Kids, teens, and young adults need to learn how to think for themselves and use all those resources they have available the right way. To know what is legit and what it prob fake or bullshit, that u can’t believe everything u see, hear or read, to know there is always more than one side to every story and to check them all before choosing, fact checking your facts, etc. These skills aren’t something u just wake up with and yet they are more important than any math formula or science experiment ever can be because u need to start with the basics; it should be mandatory at a certain age for student and if it’s not being taught in school, they prob aren’t learning it elsewhere unless their parents do it (and that’s if their parents even have learned these skills themselves). But without these skills, it’s how u end up with entire counties voting for scum like McConnell term after term, because they are conditioned sheep that have been taught to believe anything a man with a big R next to his name has to say despite it never making their lives any better, in fact, it’s prob making it worse, esp for their kids and their ability to become not only something beneficial to society, but something they enjoy doing as well. This is why having the ability to use critical thinking skills is so important and it’s just one of many. permalink embed save parent report reply [–]stocktadercryptobro 5 points6 points7 points 2 days ago (4 children) The "education" system is working how it's intended to work. permalink embed save parent report reply [–]TheAspiringFarmer 1 point2 points3 points 2 days ago (1 child) exactly. dumbed-down fools are easy to manipulate and control. modern day slaves who can't read, with the masters making sure they never get a book in their hands. permalink embed save parent report reply load more comments (1 reply) [–]Odd_Seaweed_5985 1 point2 points3 points 2 days ago (1 child) Oh, it's even better than before! Now, anyone can become an educated professional! You just get saddled with massive debt before you even reap the benefits of that so-called education! Guaranteed profit for our corporate educators, all while maintaining the status quo! permalink embed save parent report reply load more comments (1 reply) [–]KeyCaptain1239 3 points4 points5 points 2 days ago (0 children) Are you sure Biden knows anything? His brain is jelly. permalink embed save parent report reply load more comments (4 replies) [–]omg_its_dan 13 points14 points15 points 2 days ago (2 children) He clearly doesn’t write his own tweets This account is geared towards low IQ people. Every post is highly simplified and either stretches the truth or is an outright lie. permalink embed save parent report reply load more comments (2 replies) [–]StockGuy12347 24 points25 points26 points 2 days ago (47 children) The correct way to put it would be to say inflation is decelerating. It’s not 100% wrong to say the inflation “rate” is coming down, just semantics. permalink embed save parent report reply [–]FishDawgX 5 points6 points7 points 2 days ago (0 children) Maybe businesses raised prices extra high in anticipation of continued high inflation? Businesses can’t always pivot rapidly and especially don’t want to frequently raise prices. I don’t know if it’s really the case that businesses have preemptively raised prices, but if so, it would make Biden’s tweet reasonable. permalink embed save parent report reply [–]IndianaGeoff 12 points13 points14 points 2 days ago (10 children) I am sure another couple trillion of Inflation Reduction spending will fix that inflation thing. permalink embed save parent report reply load more comments (10 replies) [–]Ok_Opportunity2693 4 points5 points6 points 2 days ago (0 children) Inflation is coming down, because inflation itself is a rate. “Inflation rate” is like saying “ATM machine”. You’re thinking of “price level”, which is a measure of the price of goods. The change in price level is inflation. permalink embed save parent report reply [–]gt4674b 9 points10 points11 points 2 days ago (29 children) And the part where he demands people bring prices back down?? permalink embed save parent report reply [–]TheAspiringFarmer 1 point2 points3 points 2 days ago (3 children) like it's just a wall switch. dude's senile AF and his handlers are just putting out crap because they know their "voters" will eat it right up. permalink embed save parent report reply [–]John_Smithers 1 point2 points3 points 2 days ago (2 children) Exactly. People talk about him like this political genius who the Dems need to garner support from other dems and even republicans. It's like, have you heard him speak? He's fucking 81. He shouldn't even be incharge of his own keys, let alone a fucking country. It's his political history his advisors and shit are banking on. They're making the decisions and doing the work while they feed him the talking points. People remember he signed this bill or sponsored that legislation, and politicians see a way to score point by agreeing with him or dunking on him. permalink embed save parent report reply [–]garlichead1 1 point2 points3 points 1 day ago (0 children) it's really unbelievable that a country like the us can't give the people more choices than fucking trump and a 80 yrs old. wtf were you voting at the pre elections? permalink embed save parent report reply load more comments (1 reply) load more comments (25 replies) load more comments (4 replies) [–]Ur_mothers_keeper 2 points3 points4 points 2 days ago (0 children) First, he doesn't run his own twitter account. Most prominent people don't. He has a PR person doing it that works on his presidential campaign. Second, of course it's just virtue signalling. Like everything a politician or Hollywood actor says on TV, it's scripted, focus grouped, the eggheads determined it would get more votes than it would lose. permalink embed save parent report reply [–]Pax_Americana_ 10 points11 points12 points 2 days ago (1 child) Well, at my local grocery store prices on basic items have been going up well beyond inflation. Consumer goods are almost always gouged when "inflation is sited." Take consumer gasoline, if the price of a barrel goes up on the open market, the stations are quick to raise their prices. If it goes down, it is they are known to be slow to lower the consumer price. And you are right. It is not gaslighting, he isn't calling anyone crazy or detached from reality. He is saying that the average consumer is being exploited. Which is true. permalink embed save parent report reply load more comments (1 reply) [–]Nix14085 1 point2 points3 points 2 days ago (0 children) This isn’t ignorance, it’s the party line designed to avoid culpability through the hope that most of their voters don’t understand the underlying concepts. permalink embed save parent report reply [–]Mesmerizzle 12 points13 points14 points 2 days ago (41 children) It’s not just that. Also the idea that corporations “all of a sudden” started collectively price gouging is ridiculous. But I guess some people are gullible enough to believe it permalink embed save parent report reply [–]attaboy000 17 points18 points19 points 2 days ago (9 children) Corps will absolutely do that if/when they can. They report to their shareholders. Higher prices = higher profit margins = high returns for their investors and bigger bonuses to the executive team. permalink embed save parent report reply [–]IndianaGeoff 9 points10 points11 points 2 days ago (0 children) Correct. That is what competition is for. But the government seems to love oligopolies as long as the send money the right way, do what they are told and helps the government look good. permalink embed save parent report reply [–]3_Thumbs_Up 9 points10 points11 points 2 days ago (1 child) They report to their shareholders. Higher prices = higher profit margins = high returns This equation disregards volume sold and assumes it's a constant. There are cases where lower prices will increase profits. For any environment there's a specific profit maximizing price, and setting your prices either too high or too low will reduce profits. permalink embed save parent report reply load more comments (1 reply) [–]gt4674b 10 points11 points12 points 2 days ago (1 child) There are a lot of reasons to not do that. Especially in a competitive environment. One big reason is market share. If you can underprice your competitor, you will gain share and that is incredibly valuable. permalink embed save parent report reply load more comments (1 reply) [–]Primary_Journalist64 3 points4 points5 points 2 days ago (0 children) Gouging is a short term phenomena. As others have stated, to artificially raise prices above the market set price, for a long enough time, just hurts the producer. Loss of market share yes. But also just less revenue if you believe in basic supply and demand economics. Biden needs someone to blame for inflation. But it’s amazing anyone would believe this bullshit. Greedy businesses? They are supposed to be maximizing profits dumbass. Anything to keep blame away from the obvious truth about inflation. A stagnant supply of goods and services with an exponential growth in the supply of dollars. permalink embed save parent report reply [–]Mesmerizzle 0 points1 point2 points 2 days ago (2 children) Correct. Individual corps will always try this, but everyone working together to raise prices enough to have an effect on inflation seems unlikely. More likely that someone just printed a bunch of money. permalink embed save parent report reply [–]attaboy000 3 points4 points5 points 2 days ago (1 child) More likely there's a handful of factors at play: money printing, price gouging, and a war that raised oil prices significantly which in turn affected prices for basics such as food. permalink embed save parent report reply load more comments (1 reply) [–]peppaz 8 points9 points10 points 2 days ago (11 children) Their profits and profit margins are up at all time highs. If they weren't gouging, profit margins would be down. Even the fed agrees that 30% of inflating is just gouging permalink embed save parent report reply load more comments (11 replies) [–]xqxcpa 1 point2 points3 points 2 days ago (0 children) In a functioning market, it would make no sense to claim price gouging without collusion, but our antitrust systems have failed and we've allowed (or helped with regulatory moats and massive subsidies) corporations the size of nation states to own entire industries. So yes, many corporations can price gouge without any collusion required. permalink embed save parent report reply load more comments (18 replies) [–]excelance 1 point2 points3 points 2 days ago (0 children) Expect more of this as the elections come up; all financial problems are due to evil corporations. Both sides do this, blame shifting. Government is the only organization in the world where failure brings more power/money. permalink embed save parent report reply load more comments (37 replies) [–]endoftheworld2024 37 points38 points39 points 2 days ago (1 child) STOP THE PRICE GOUNGING NOW.... or we might enforce anti-trust laws that we haven't enforced for three decades that gave you so much power that you could price gouge and not worry about competition stealing your customers. so ummm.... STOP THE PRICE GOUGING NOW! permalink embed save report reply load more comments (1 reply) [–]KaiSosceles 3 points4 points5 points 2 days ago (0 children) Blame people for looking at M2 and realizing money is less valuable, then wanting more of it because theyre doing the same amount of work. How dare people want the same amount of value for offering the same goods and services. They should eat losses because the government decided to print. permalink embed save report reply [–]tekneqz 152 points153 points154 points 2 days ago (149 children) Wtf is anyone in this thread talking about, that note didn’t correct Biden. He said inflation has come down which the note agreed with. He didn’t say anything about prices not rising. Hes criticizing companies for price gouging, which they are, and not bringing prices down permalink embed save report reply [–]Gotmewrongang 85 points86 points87 points 2 days ago (17 children) Yeah I’m surprised no one here seems to be getting this. Both can be true: companies are price gouging and we are dealing with inflation. They latter doesn’t negate the former. permalink embed save parent report reply [–]l_Pulser_l 36 points37 points38 points 2 days ago (0 children) One of the greatest lessons in life people eventually learn is that two things can be true at the same time. The amount of people who do not understand this concept is in the fucking BILLIONS. permalink embed save parent report reply [–]SoupaSoka 25 points26 points27 points 2 days ago (6 children) He's saying prices should come back down, but that doesn't make sense if we assume prices went up due to inflation (and not due purely to gouging, but if that were the case, inflation data wouldn't have any impact on the conversation anyway). We'd need deflation to justify a price decrease. permalink embed save parent report reply [–]Gotmewrongang 40 points41 points42 points 2 days ago (4 children) No, he is saying “I know companies are taking advantage of inflation AND are doing this by price gouging and blaming it on inflation.” He is correct too, companies are doing this and using our divided political climate to get away with it. permalink embed save parent report reply [–]stumblinbear 20 points21 points22 points 2 days ago (1 child) He's directly linking the two statements by saying "lowering prices even has inflation has decreased." That pretty much unquestionably implies that inflation is the cause of price increases, and that decreasing inflation should lower prices. Everyone makes mistakes, it's fine, but please don't do mental gymnastics to justify it permalink embed save parent report reply [–]russianbandit 2 points3 points4 points 2 days ago (0 children) You are right. And all these Biden apologists are trying hard. permalink embed save parent report reply [–]johndavismit 9 points10 points11 points 2 days ago (0 children) There are two things here and people are getting caught on one that helps their view. Biden is saying that companies are using inflation as an excuse to raise their prices further, which is undoubtably true. Biden is also saying those corporation should bring their prices to where they were before they got inflated, which at face value isn't how inflation works and is what the statement below clarifies. That said, Biden probably meant to say corporations should bring the prices down to what they should be when accounting for inflation, but that's a much less easy to understand conept for the average voter so they probably "dumbed it down" to make it easier to understand for the average person. permalink embed save parent report reply load more comments (1 reply) load more comments (1 reply) [–]MrBrew[🍰] 1 point2 points3 points 1 day ago* (0 children) Yeah I’m surprised no one here seems to be getting this. Both can be true: companies are price gouging and we are dealing with inflation. They latter doesn’t negate the former. Prices going down does not correlate with inflation going down. I help administer revenue management with independent retailers at a regional level. Nobody lowers their prices after raising them previously without serious negotiations. Often after a price cut, I see retailers retain the increased profits and pass on the same price to unsuspecting consumers. Pricing wars with neighboring suppliers or retailers are the only way to bring this about. You start talking this way enough like the way I do and the words like collusion and anti-trust regulations start being dropped. No way do I get involved with this with a five foot pole. Feds need to intervene heavily for business to change. Everything else is posturing. permalink embed save parent report reply [–]_Mellex_ 2 points3 points4 points 2 days ago (5 children) Define "price gouging"? What is an acceptable level of profit margins, in your view? Inflation isn't double digits, sure, much wow, but over the last few years operation costs have increased by double-digita percentages. permalink embed save parent report reply [–]Severe-Replacement84 4 points5 points6 points 2 days ago (4 children) Well… companies have been reporting quarterly record profits for the past year… it’s not a coincidence that these records happened during the same time as inflation was rocketing upwards. They blamed the supply chain at first, and once they was resolved they pivoted to inflation… unless congress gets its shit together and launches a useful investigation into it, we can only assume. permalink embed save parent report reply load more comments (4 replies) load more comments (2 replies) [–]Nuciferous1 21 points22 points23 points 2 days ago (19 children) He’s clearly trying to make a connection between a lower inflation rate and lower prices. “Inflation rates are down so stop price gouging” is a weird thing to say even if you’re being really generous. permalink embed save parent report reply load more comments (19 replies) [–]shadowrun456 19 points20 points21 points 2 days ago (1 child) It was clear from how the title of this post was phrased, that it's going to be bullshit. No one who argues from a rational standpoint would use such an emotionally charged language. permalink embed save parent report reply [–]Correct-Log5525 1 point2 points3 points 2 days ago (0 children) Biden is gaslighting in that tweet though... permalink embed save parent report reply [–]messisleftbuttcheek 20 points21 points22 points 2 days ago (2 children) He implied that since inflation has fallen, companies should lower their prices. This demonstrates a lack of understanding what inflation is. I don't blame Biden for inflation, though I do think his administration could've done more to fight it. More money chasing fewer goods is always what inflation has been, always what it will be. permalink embed save parent report reply [–]ThatsMrJerkFaceToYou 2 points3 points4 points 2 days ago* (1 child) I think he's saying, companies pre-emptively raised prices, creating a profit spike. NPR reports the spike is responsible for about 60% of the inflation increase. No one here seems to believe that corporate profits increase inflation, but based on the level of discourse here, it seems more like institutional thinking than a rational opinion. *Edit: "A price-price spiral is when corporations raise prices by more than the increase in their costs in a way that perpetuates inflation." permalink embed save parent report reply load more comments (1 reply) [–]stanley_fatmax 4 points5 points6 points 2 days ago (1 child) His implication is clear, and his implication is wrong. There's no explaining that away. That's the issue here. permalink embed save parent report reply load more comments (1 reply) [–]itsallinthebag 6 points7 points8 points 2 days ago (6 children) Yep. His message is pretty accurate and vanilla. He said something that needs to be said. And he’s the person to say it.. hopefully action follows somehow permalink embed save parent report reply [–]Correct-Log5525 1 point2 points3 points 2 days ago (4 children) His insinuation is that prices should come down because inflation is coming down.. this is incorrect as we aren't experiencing deflation, just lower levels of inflation permalink embed save parent report reply load more comments (4 replies) load more comments (1 reply) [–]monopixel 4 points5 points6 points 2 days ago (0 children) Because Biden bad bro /s permalink embed save parent report reply [–]beboptank 6 points7 points8 points 2 days ago (1 child) I'm glad someone said this, I thought I was going crazy permalink embed save parent report reply load more comments (1 reply) [–]ianandris 3 points4 points5 points 2 days ago (54 children) This sub is basically r/libertarian, tbh. Right wing biases get platformed constantly, facts be damned. I mean, swap the names with, say, Ron Paul and people here would be singing praises. “Hey companies, stop price gouging” should not be a controversial opinion. Its embarrassing, tbh. permalink embed save parent report reply [–]stumblinbear 12 points13 points14 points 2 days ago (4 children) It's not controversial. People here are correcting the "decreasing inflation means prices decrease" comment specifically. You can agree with the sentiment while disagreeing with the phrasing and justification. permalink embed save parent report reply load more comments (4 replies) [–]warblade7 9 points10 points11 points 2 days ago (19 children) Hate to break it to you, but bitcoin as a concept is basically libertarian at its core. permalink embed save parent report reply load more comments (19 replies) [–]better_off_red 4 points5 points6 points 2 days ago (9 children) Incorrect opinions should be controversial, in fact. permalink embed save parent report reply load more comments (9 replies) load more comments (19 replies) [–]warblade7 2 points3 points4 points 2 days ago (0 children) No, the growth rate of inflation has slowed, but we are still at abnormally high levels of inflation. There’s a distinction that needs to be recognized and Biden is just trying to deflect the blame because his policies helped drive the abnormal rate of inflation in the first place. The gaslighting is in the way this tweet was worded. permalink embed save parent report reply [–][deleted] 2 days ago (3 children) [deleted] [–]internetwizardx 4 points5 points6 points 2 days ago (0 children) the M2 money supply expanded by something like 50% in 3 years, if you treat government reported CPI measures as indicative of actual rates of monetary inflation you'll be tricked and mislead permalink embed save report reply [–]BitcoinFan7 2 points3 points4 points 2 days ago (0 children) The problem is you believe the reported inflation numbers. Actual inflation is much closer to your 20-30% numbers. Companies are just trying to keep their head above water. permalink embed save report reply load more comments (1 reply) load more comments (34 replies) [–]blindstuff 11 points12 points13 points 2 days ago (1 child) Expropriation threats aside, I find it shocking that 13 years now living in a different country I still see this base line of thinking that Hugo Chavez had. Jan 11 2010 "El presidente de Venezuela, Hugo Chávez, lanzó este domingo una advertencia a los dueños de los comercios a quienes instó a no especular con los precios de los productos, especialmente los de primera necesidad, porque de lo contrario el Estado les expropiará los establecimientos para dárselos al pueblo." Google Translate: "The president of Venezuela, Hugo Chávez, issued a warning this Sunday to business owners, urging them not to speculate on the prices of products, especially basic necessities, because otherwise the State will expropriate their establishments to give them to the people." Source: https://www.elmundo.es/america/2010/01/11/economia/1263220198.html permalink embed save report reply load more comments (1 reply) [–]malacosa 5 points6 points7 points 2 days ago (1 child) I find it a curious thought that having a target of 2% inflation means that everyone gets a minimum 2% wage each year and prices go up 2% to account for that added cost. And yet having deflation is the boogeyman because the thought is that if my money will have more purchasing power tomorrow, I will delay my purchase… and so will everyone else, slowing economic activity to an eventual standstill as prices (and wages) go lower with deflation causing my dollars to be worth more as dollars VS as product. This deflationary fear however fails to recognize that I gotta eat, I gotta pay for my subscriptions for various services and I want to be entertained (which is also often not free). I’m going to continue to spend even in a deflationary economy because I need things NOW, not tomorrow or the next day, or even next year. So a 1% deflation rate would likely NOT change my spending habits at all. So why do we have this seemingly arbitrary target of 2%? Why not 1%? Why not 0%? Surely an economy where prices are stable would be good, no? And no, I don’t think 0% inflation would cause economic growth to stagnate. You’d still have people wanting more profits, more sales, and you’d still have increases in productivity. So where’s the flaw in my logic? Surely I must be incorrect somewhere cause I’m no economic genius. permalink embed save report reply [–]trollkorv 4 points5 points6 points 2 days ago (0 children) You are partly right. In a perfectly efficient system there would be deflation in direct proportion to the advancement of technology and the economy. It is the healthy ideal, but can't be achieved in the current paradigm. Our economy isn't reliant on people just spending their money a little bit quicker because there's inflation, it's based on people borrowing money in order to consume and invest, and because the credit system is multiplicative, a small decrease in apetite for borrowing can contract the economy severely. So inflation is used to lubricate the system, but it's a fools errand, because since inflation artificially spurs investment and spending, it increases the inefficiency in the economy, requiring even more lubrication in turn. A positive feedback loop. It's the way of fiat money, and there's no way around it. No one can stop it. The only way out is a decentralised and secure fixed supply money protocol, where inflation isn't a decision anyone can make. Migrating to it will be a rough road. permalink embed save parent report reply [–]SargeBangBang7 2 points3 points4 points 2 days ago (0 children) Companies will never change without a law to force them. It's actually ridiculous how much of the pie they want. Passing a law to reduce these wild prices would be helpful. What would the company really do? Pull out of the US market and make 0 money? Yeah, right. permalink embed save report reply [–]jmradus 13 points14 points15 points 2 days ago (21 children) Price gouging has exceeded inflation throughout the entirety of the past couple years. Greedflation is real, inflation is indeed coming down, that doesn’t mean deflation comes next. Breathe oxygen for once in your life. permalink embed save report reply load more comments (21 replies) [–]huejass5 6 points7 points8 points 2 days ago (1 child) The amount of people in this sub who don’t know how the economy works but think they do is disappointing but not surprising permalink embed save report reply [–]BigTimeButNotReally 1 point2 points3 points 2 days ago (0 children) Surprised this isn't up voted more, because literally everyone here will think you're talking about the other guy. permalink embed save parent report reply [–]md24 13 points14 points15 points 2 days ago (1 child) No. It’s corporate greed. He’s not lying. Egg makers just got hit with fines. permalink embed save report reply load more comments (1 reply) [–]Quantum_Pineapple 26 points27 points28 points 2 days ago (5 children) TL;DR: They're going to pretend a CBDC is the answer to the very problem they fucking created. So, Biden agrees to stop government intervention in the market, bolstering corporations and central bank monopolies that couldn't, shouldn't, and wouldn't exist otherwise without government intervention, etc.? No? That's what I thought. Fuck this admin, I'm beyond cynical we are far, far past fucked with the amount of money they printed in the last three years. Live now, there is less than zero future for this country. No amount of voting is going to correct this and that was the entire point. permalink embed save report reply [–]-Nords 3 points4 points5 points 2 days ago (1 child) System is fukt. Thats why getting out of fiat, and into others is so important. And why we are all in here, to hopefully ride out the ensuing chaos somewhat intact. stack & hodl & hold on tight permalink embed save parent report reply [–]Quantum_Pineapple 2 points3 points4 points 2 days ago (0 children) Stack n hodl brothers n sisters of the Coin. permalink embed save parent report reply [–]Suzuki_Matt 7 points8 points9 points 2 days ago (1 child) Bullseye 🎯 permalink embed save parent report reply [–]meatismoydelicious 2 points3 points4 points 2 days ago (0 children) The actual solution permalink embed save parent report reply load more comments (1 reply) [–]plug_and_pray 38 points39 points40 points 2 days ago (27 children) The head of state of the bigest economy doesn't understand basic things, what could go wrong. permalink embed save report reply [–]Mesmerizzle 33 points34 points35 points 2 days ago (4 children) He understands just fine, just blatantly lying about it permalink embed save parent report reply [–]peppaz 3 points4 points5 points 2 days ago (1 child) Do you think he picked up his phone and wrote this tweet personally? permalink embed save parent report reply [–]Mesmerizzle 7 points8 points9 points 2 days ago (0 children) I doubt he even knows what a phone is 🤣 permalink embed save parent report reply [–]-Nords 1 point2 points3 points 2 days ago (1 child) naw, hes just mindlessly reading a script. You think hes back there calculating shit and writing his own teleprompter lines? permalink embed save parent report reply [–]BigStuggz 3 points4 points5 points 2 days ago (0 children) Fr there hasn’t been a string of self-constructed coherent thoughts in there for ages. permalink embed save parent report reply [–]JmunE204 16 points17 points18 points 2 days ago (1 child) I don’t believe that he doesn’t actually understand. I think he’s being purposefully misleading which is way worse imo permalink embed save parent report reply [–]IndianaGeoff 1 point2 points3 points 2 days ago (0 children) The dude just reads what appears in the glass in front of him. permalink embed save parent report reply [–]baronofbitcoin 5 points6 points7 points 2 days ago (1 child) Not the head of state, his account handler. permalink embed save parent report reply load more comments (1 reply) [–]deev32 0 points1 point2 points 2 days ago (1 child) What did he say that’s wrong? He said inflation has come down (it has) and corporations are still charging for consumer goods as if it has not (they are). permalink embed save parent report reply load more comments (1 reply) [–]dvarner24 -1 points0 points1 point 2 days ago (8 children) You’re 💯correct and it is not just him. The majority of US politicians today have no experience in running a business and it shows. permalink embed save parent report reply load more comments (8 replies) load more comments (7 replies) [–]meatismoydelicious 1 point2 points3 points 2 days ago (0 children) Yeah, that's the corporate politician playbook. This'll be good for his optics but he isn't going to pursue anything about it. He'd lose his donors if he did. permalink embed save report reply [–]Truth_Hurts_Dawg 1 point2 points3 points 2 days ago (0 children) Well in general companies have thrived in reduced regulation, and there are many artificial monopolies that need to be regulated to fix prices. Remove barriers to entry and competition. Go after price fixers and throw some execs in jail and things will correct. permalink embed save report reply [–]Fantastic_Jump342 1 point2 points3 points 2 days ago (0 children) Since January of 2020, the compounded inflation rate is over 23%. permalink embed save report reply [–]Lil_Kibble_Vert 1 point2 points3 points 2 days ago (0 children) As if Biden actually typed that out lol. His account is run by someone else, 100% permalink embed save report reply [–]Lewzer33 1 point2 points3 points 2 days ago (0 children) He’s got his little helper writing his tweets for him again? 😂 permalink embed save report reply [–]tcharp01 1 point2 points3 points 2 days ago (0 children) The US President is gaslighting the people about everything thing he speaks about each time he opens his lying mouth. He is a criminal and a traitor. He should be in prison for bribery. permalink embed save report reply [–]Worldsapart131 1 point2 points3 points 2 days ago (0 children) Someone please explain to our idiot President how free markets work…. SMH. Mr Idiot President, you know those few trillion extra dollars you signed off on the Fed to print…. Yea…. Those are STILL in circulation. permalink embed save report reply [–]i-love-k9 1 point2 points3 points 2 days ago (0 children) Did he really say that? Doesn't he know lowered inflation just means prices are going up more slowly? Prices don't ever come down when you keep increasing the amount of money. permalink embed save report reply [–]Lazy-Entrepreneur-85 1 point2 points3 points 2 days ago (0 children) What a F**king Ass Clown! permalink embed save report reply [–]Honest_Bruh 1 point2 points3 points 2 days ago (0 children) C'mon man! permalink embed save report reply [–]One-Ambassador2759 1 point2 points3 points 2 days ago (0 children) Does he understand that inflation is the RATE OF CHANGE of price increases and not the price themselves ? How is this guy president when he doesn’t understand basic economics . permalink embed save report reply [–]Jasonmun8 1 point2 points3 points 2 days ago (0 children) The federal government doesn’t 6.15 trillion dollars in 2023. I’m sure that has nothing to do with food still increasing. I’ll go buy some more bitcoin this is about to get real permalink embed save report reply [–]Jessintheend 1 point2 points3 points 2 days ago (0 children) Yeah that’s true except over half the price increase is literally just price gouging and companies have admitted to it permalink embed save report reply [–]JeremyLinForever 1 point2 points3 points 1 day ago (0 children) Old man yells at cloud… old man says “stop running on capitalism!” permalink embed save report reply [–]More-Drink2176 1 point2 points3 points 1 day ago (0 children) Prices don't come down ever. Just because the rate they are increasing has slowed down doesn't mean magic is happening. permalink embed save report reply [–]Potential-Passage821 1 point2 points3 points 1 day ago (0 children) Its scary how many people are tricked by this. Its economics 101 that if you print money, you get inflation. The US printed trillions then you guessed it...got it inflation. It was exactly as expected. Then Biden administration get Pikachu face and is like oh shit how do we deflect blame. Also does anyone really think corporations were holding back before. Like oh we could make so much more but we won't. But now..2023 it's different. Wtf permalink embed save report reply [–]MowMdown 12 points13 points14 points 2 days ago (16 children) Inflation is down, corporate greed is at an all time high. permalink embed save report reply [–]3_Thumbs_Up 14 points15 points16 points 2 days ago (9 children) Blaming inflation on corporate greed is like blaming an increase of airplane accidents on gravity. Corporations being greedy is a constant factor. When inflation happens something else is changing. Anyone who talks about corporate greed isn't actually trying to understand what's happening. They're trying to spread a narrative. permalink embed save parent report reply [–]-Nords 11 points12 points13 points 2 days ago (0 children) Don't even bother arguing with someone who never took basic Econ, and spews chantable phrases. permalink embed save parent report reply [–]treeclimbinggoldfish 5 points6 points7 points 2 days ago (0 children) Yup. permalink embed save parent report reply load more comments (7 replies) [–]_Mellex_ 1 point2 points3 points 2 days ago (3 children) Define "corporate greed" No one in this entire thread has given evidence of gouging or greed. Increased gross profits year-over-year isn't evidence of corporate greed. If operation costs weren't at all-time highs, I'd be more sympathetic. permalink embed save parent report reply load more comments (3 replies) load more comments (2 replies) [–]amretardmonke 5 points6 points7 points 2 days ago (0 children) Inflation slowing down =/= prices going down, it just means prices go up at a slower rate. This is some basic shit. "The President" didn't write this anyway, one of his staffers did. And I don't know what's scarrier, if they actually think this and are just stupid, or if they think we're that stupid. permalink embed save report reply [–]bitsteiner 2 points3 points4 points 2 days ago (0 children) Prints 6 trillion, spends that money, increased demand creates inflation, blames the corporations. permalink embed save report reply [–]Skydiggs 3 points4 points5 points 2 days ago (0 children) Joe Biden is embarrassing, lies to the American people like we are idiots permalink embed save report reply [–]False_Dogz 3 points4 points5 points 2 days ago (2 children) Inflation has come down. Correct. permalink embed save report reply [–]warblade7 5 points6 points7 points 2 days ago (0 children) The increasing rate of inflation has slowed, actual inflation is still at an abnormally high level. permalink embed save parent report reply [–]-Nords 4 points5 points6 points 2 days ago (0 children) There still is inflation, it just went from 'OMG fuck', to just 'fuck me'. Don't like either one. permalink embed save parent report reply [–]hemphugger 8 points9 points10 points 2 days ago (1 child) I agree that Biden isn’t being truthful on this matter. permalink embed save report reply load more comments (1 reply) [–]jasperCrow 2 points3 points4 points 2 days ago (0 children) It’s crazy how a huge amount of people likely believe what he says. permalink embed save report reply [–]Daman09[🍰] 5 points6 points7 points 2 days ago (7 children) What does this shit have to do with fucking Bitcoin permalink embed save report reply load more comments (7 replies) [–]Rshackleford22 2 points3 points4 points 2 days ago (0 children) How is this gaslighting? The rate of inflation has come down and a chunk of the pie for causes of inflation over the last 2 years is due to price gouging. Example Egg producers. permalink embed save report reply [–]fannypacksarehot69 5 points6 points7 points 2 days ago (0 children) The Presidents social media intern doesn't know anything about economics permalink embed save report reply [–]JonnyBeoulve 2 points3 points4 points 2 days ago (0 children) This price gouging narrative by the Democrats is moronic. Anyone who has spent at least 5 minutes learning about economics knows that is BS. permalink embed save report reply [–]hiddenintheleavess 1 point2 points3 points 2 days ago (8 children) Might wanna look more into gas lighting and the meaning of the words. I’d be confused on the meaning of words if I used twitter too though 🫡🫡 permalink embed save report reply load more comments (8 replies) [–]masonthedood42 1 point2 points3 points 2 days ago (0 children) We all know this Biden doesn’t know how to work the twitter. This is he secretary speaking for him, either way, they’re both retarded. permalink embed save report reply [–]Existing_Diet 1 point2 points3 points 2 days ago (0 children) It is the magic of "compounding" rates. 3.5% on top of 5.0% last year....makes it even worse. permalink embed save report reply [–]semenpresso 3 points4 points5 points 2 days ago (1 child) lol that’s actually hilarious. Mr. Biden obviously knows the inners of the broken and collapsing financial system, but spews this fake nonsense. What an old hag piece of floor jizz this guy is permalink embed save report reply [–]ILikePracticalGifts 2 points3 points4 points 2 days ago (0 children) floor jizz Username checks out permalink embed save parent report reply [–]Josh-Lambo-Tudamoon 1 point2 points3 points 2 days ago (0 children) I’ll make a deal with blue collar Joe. If my kid’s college decreases their tuition next year, then maybe I will consider lowering my prices. (Ain’t happening) permalink embed save report reply [–]Twelvety 1 point2 points3 points 2 days ago (0 children) Inflation is nuts everywhere. Just today I noticed the price of Coke has gone up in the UK. A single 500ml bottle is now £2 ($2.5) up from £1.80 ($2.29) which was already crazy high. More than a 10% increase. It wasn't long ago you could get 2litre bottles for £1. permalink embed save report reply [–]Waste_Researcher6382 1 point2 points3 points 2 days ago (1 child) 2-3% inflation is considered normal/desirable, mostly because it provides a disincentive to savings and an incentive to investment. permalink embed save report reply load more comments (1 reply) [–]FoxMan1Dva3 1 point2 points3 points 2 days ago (2 children) Correct me if I'm wrong but the term inflation would mean a positive value. Someone says that it's decreasing of inflation. They're talking about the rate of change is getting smaller. The community notes, which I typically am a fan of here, is actually misleading in itself. And as for this post, that says that the president is gaslighting people, No idea what you're on about. He's literally trying to help you the consumer by going after corporations that are increasing their markups. If Trump did this, you would applaud. But because Biden is saying it you claim he's lying. It's very similar to when Elon Musk promotes electric vehicles you applaud. Going Biden promotes EVs you say it's not possible. He's lying. I don't have the means for it. Yada yada yada permalink embed save report reply load more comments (2 replies) [–]Thunder_Flush 1 point2 points3 points 2 days ago (0 children) Taking a page out of Justin Trudeau's book. Pair of idiots. permalink embed save report reply [–]BoredAccountant 1 point2 points3 points 2 days ago (0 children) Inflation is the expression of price increases. Prices don't increase because of inflation. Any business that increases prices due to inflation is price gouging. permalink embed save report reply [–]BenTG 1 point2 points3 points 2 days ago (0 children) If you think price gouging isnt happening you’re not paying attention. permalink embed save report reply [–]Agitated-Air-6043 1 point2 points3 points 2 days ago (0 children) The man himself doesn’t understand how it works permalink embed save report reply [–]demelash_ 1 point2 points3 points 2 days ago (0 children) It must be dementia. permalink embed save report reply [–]Michichael 1 point2 points3 points 2 days ago (0 children) He's either legitimately that stupid, or knows his supporters are legitimately that stupid that they'll buy that. Probably both. permalink embed save report reply [–]Paragon_Voice 1 point2 points3 points 2 days ago (0 children) I fully believe there is prive gouging going on. But that is a constant that you can't control without potentially unconstitutional legislation. Money printer going BRRRR is still the real issue! permalink embed save report reply [–]swissiws[🍰] 2 points3 points4 points 2 days ago (0 children) X/Twitter is the only place where even President is corrected if he speaks lies. permalink embed save report reply [–]ThirdWorldSorcerer 1 point2 points3 points 2 days ago (0 children) The Peronist president of the US. Get rid of them before you became another Venezuela. permalink embed save report reply [–]UrNs0 2 points3 points4 points 2 days ago (1 child) 3.2%???? I am still paying 40% more at my grocery store. permalink embed save report reply load more comments (1 reply) [–]AHHHHHH63 2 points3 points4 points 2 days ago (0 children) It’s not gaslighting, Biden literally has no concept of reality or common sense. He said inflation came down 65% but that’s not even possible. He has DEMENTIA people stop trying to figure out what he means. permalink embed save report reply [–]Eggs-Benny 1 point2 points3 points 2 days ago (3 children) Correct me if I am stupid but Joe is talking about PRICE GOUGING needs to stop. Inflation and price gouging can be happening at the same time, silly billies. Or am I the Silly Billy? permalink embed save report reply load more comments (3 replies) [–]IngersollLockwood 1 point2 points3 points 2 days ago (0 children) This administration is a joke permalink embed save report reply [–]Middle____Earth 1 point2 points3 points 2 days ago (1 child) I watched a video of Biden telling a trade worker that he has a Marine with him that carries the codes to blow up the entire world (unprompted too - surprised he didn't just start telling him the actual codes)...it's just a clown show in my country at this point. All I can do is continue my DCA and also hope that things get better IG, but not very likely politics-wise. permalink embed save report reply [–]-Nords 4 points5 points6 points 2 days ago (0 children) Don't forget the time a trade worker was asking for help, and Biden literally said "I don't work for you!" permalink embed save parent report reply [–]PinkHelmut 0 points1 point2 points 2 days ago (0 children) It's not nice to bully dementia patients. permalink embed save report reply [–]Legal-Finish6530 -2 points-1 points0 points 2 days ago (6 children) The president has no control over global inflation 😔 permalink embed save report reply [–]amretardmonke -1 points0 points1 point 2 days ago (4 children) he does have control over not spewing bullshit on twitter, or at least he should permalink embed save parent report reply [–]ShitbagCorporal 3 points4 points5 points 2 days ago (0 children) I doubt Biden typed that, or even dictated it. permalink embed save parent report reply [–]Legal-Finish6530 5 points6 points7 points 2 days ago (0 children) He doesn't have control over the greedy companies either permalink embed save parent report reply load more comments (2 replies) load more comments (1 reply) [–]brtnjames -1 points0 points1 point 2 days ago (0 children) It’s been like this in Argentina for over 10 years. Beware of the democrats… Edit. Beware of all politicians… permalink embed save report reply

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