Dear Mr. Reich: Well done. I suggest you give Katie Porter a call and turn her loose with a white-board offensive strategy to get the word out. I smile every time I remember her dismantling the false argument by the drug companies that they needed gigantic profits to cover their R&D costs. It was always a lie, and still is. Keep up the good fight. Ellis Johnson M.D.
Thank you for being a voice for alternative views of economic policy and for emphasizing the impacts our policies have on the economically disadvantaged.
I build houses up in Ulster County NY, an area I understand you are familiar with. Two years ago I moved my company to an 'open book' policy, where my clients have visibility into everything via an app. They see my true costs, when they go up, AND down. DO I make a windfall profit like my competitors? Nope, but I have seriously dedicated clients and I sleep really well at night....
Big corporations raking in record profits. The media shouting, "inflation"...... "looming recession". Hmmm, let's look at the timing of this... before the midterms. Unfortunately, a vast number of voters place blame on the president and current administration for any economic downturns. And media messaging supports this (even liberal media). Which party do corporations and deep pocket executives generally want in power?!?! Ahh, therein lies an incentive for big corporations to continue to raise prices. They would LOVE to see the legislators back in power who will continue to give them tax breaks and open wider loopholes. Voters who feel this crunch will blame those currently in power. Doesn't the Fed see this?? Is their only course of action to raise interest rates?? Do they even see the big picture; a major CAUSE of the inflation?? (Me? NOT an economist, and I realize I've addressed one cause-effect. But, c'mon folks. Let's see this manipulation for what it is.)
Changing the language is key. I noticed the media shift from talking about "price hikes" and "consumer price index", to calling it all "inflation" when Dems came into power and passed the first infrastructure package. It was a deliberate move by corporate media to link government with price hikes by calling it inflation. The Fed's blindness to this is astonishing. Thanks for the term "profit-price-inflation".
Thank you Robert for helping a humble ol' Union tradesman become much more enlightened and educated about what truly is going on here. I follow you regularly now. And thank you also for bringing these realities to us, or at least me, in laymans terms.
No one ever truly hears you. I had the good fortune to hear you (and shake your hand!) in Nov 2008 at a speech you gave to the bank I worked for, plus our clients. You said very clearly “Don’t fire your people.” And….immediately thereafter, the bank fired most of us (commercial real estate lenders). I have followed your public thinking ever since.
I hope Congress hears you, but I’m not holding my breath.
Thank you for always telling the truth, regardless.
(PS: I had to go back to school in my mid-40’s, move to CA, and create an entirely new career for myself. )
Deluged with reporters! That is great news. The downer is these reporters have somehow missed your many columns in Substack and more surprisingly those in The Guardian.
Thank you Dr. Reich for all you do. Sadly, I listened to a segment on MSNBC this afternoon discussing the economy and there was no indication that your message had gotten through, at least to their guest expert, who portrayed a bleak future of multiple rate increases and probable recession. I am far from being an economist, and your message is so clear and understandable and simple that even I get it...I can only imagine your constant frustration. Please keep doing what you do--this week, we seem to be in a phase where the adults in the room are making themselves heard with regard to the rule of law; perhaps your rule of economics will finally be heard and given a fair chance.
The Truth I'm telling Congress today (Part II)
Thanks for the clear explanation. Thank you a thousand times for all the work you do on our behalf!
Dear Mr. Reich: Well done. I suggest you give Katie Porter a call and turn her loose with a white-board offensive strategy to get the word out. I smile every time I remember her dismantling the false argument by the drug companies that they needed gigantic profits to cover their R&D costs. It was always a lie, and still is. Keep up the good fight. Ellis Johnson M.D.
Keep at 'em !
Thank you for being a voice for alternative views of economic policy and for emphasizing the impacts our policies have on the economically disadvantaged.
I build houses up in Ulster County NY, an area I understand you are familiar with. Two years ago I moved my company to an 'open book' policy, where my clients have visibility into everything via an app. They see my true costs, when they go up, AND down. DO I make a windfall profit like my competitors? Nope, but I have seriously dedicated clients and I sleep really well at night....
Let’s call it what it is…GREED-FLATION
Thanks for speaking the truth, it’s not easy these days.
I read that article this morning and wanted to scream at the Fed “ the cause of inflation IS NOT A NAIL, QUIT TRYING TO FIX IT WITH A HAMMER”.
Do these people ever have an original thought?
Kudos to you, Dr Reich, that’s a shred of good news among the dire predictions about the outcome of the midterm elections.
Big corporations raking in record profits. The media shouting, "inflation"...... "looming recession". Hmmm, let's look at the timing of this... before the midterms. Unfortunately, a vast number of voters place blame on the president and current administration for any economic downturns. And media messaging supports this (even liberal media). Which party do corporations and deep pocket executives generally want in power?!?! Ahh, therein lies an incentive for big corporations to continue to raise prices. They would LOVE to see the legislators back in power who will continue to give them tax breaks and open wider loopholes. Voters who feel this crunch will blame those currently in power. Doesn't the Fed see this?? Is their only course of action to raise interest rates?? Do they even see the big picture; a major CAUSE of the inflation?? (Me? NOT an economist, and I realize I've addressed one cause-effect. But, c'mon folks. Let's see this manipulation for what it is.)
Changing the language is key. I noticed the media shift from talking about "price hikes" and "consumer price index", to calling it all "inflation" when Dems came into power and passed the first infrastructure package. It was a deliberate move by corporate media to link government with price hikes by calling it inflation. The Fed's blindness to this is astonishing. Thanks for the term "profit-price-inflation".
Thank you Robert for helping a humble ol' Union tradesman become much more enlightened and educated about what truly is going on here. I follow you regularly now. And thank you also for bringing these realities to us, or at least me, in laymans terms.
No one ever truly hears you. I had the good fortune to hear you (and shake your hand!) in Nov 2008 at a speech you gave to the bank I worked for, plus our clients. You said very clearly “Don’t fire your people.” And….immediately thereafter, the bank fired most of us (commercial real estate lenders). I have followed your public thinking ever since.
I hope Congress hears you, but I’m not holding my breath.
Thank you for always telling the truth, regardless.
(PS: I had to go back to school in my mid-40’s, move to CA, and create an entirely new career for myself. )
Deluged with reporters! That is great news. The downer is these reporters have somehow missed your many columns in Substack and more surprisingly those in The Guardian.
Thank you Dr. Reich for all you do. Sadly, I listened to a segment on MSNBC this afternoon discussing the economy and there was no indication that your message had gotten through, at least to their guest expert, who portrayed a bleak future of multiple rate increases and probable recession. I am far from being an economist, and your message is so clear and understandable and simple that even I get it...I can only imagine your constant frustration. Please keep doing what you do--this week, we seem to be in a phase where the adults in the room are making themselves heard with regard to the rule of law; perhaps your rule of economics will finally be heard and given a fair chance.
Is a copy of your testimony/ filing with the Committee available?
So many people to convince of this...I'm trying with family and friends!! Good luck to you good sir!