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by prepend
1106 days ago
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The thing that usually keeps firms from raising prices is that customers don’t have money to pay the higher prices. What I think is novel now is that there’s a lot more cash available to pay these higher prices. Record profits are the result, not the cause. |
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> What I think is novel now...
Not novel. Just the return and normalization of usury.
Here's a brief recap, beginning with South Dakota's Gov. Bill Janklow dismantling of consumer protections from financial predators in the late '70s:
A Short History of Financial Deregulation in the United States [2009] https://www.cepr.net/documents/publications/dereg-timeline-2...
(Just the first useful hit I found. There are many, many such analyses. The worsening financialization of household debt has continued almost uninterrupted.)
Elsethread, u/Red_Leaves_Flyy notes some of the additional current co-factors. https://news.ycombinator.com/item?id=36237547