Congressional hearing on the influence of corporate profit on inflation | Hacker News Reader

Congressional hearing on the influence of corporate profit on inflation

c-span.org

31 pointsSinParadise15 comments

https://pluralistic.net/2022/10/17/united-states-vs-vons/#mo...

Congress investigating whether wet streets cause rain. -_-

I wonder who it's for? Are there actual rabble out here who pay enough attention to notice this hearing is happening but also don't see these hearings for the sham they are?

In what sense are these hearings a sham? Explain.

Oh, nothing meaningful will be accomplished here. It's a dog and pony show to distract from all of the global systemic forces causing inflation. Are there corporations maybe raising prices more than they need to? sure, but nothing happening at this hearing will do anything to address that. Do you disagree with this analysis? Maybe i'm being too cynical

Before actions, there needs to be a will to act.

Do I believe that having a hearing will guarantee actions? Obviously not.

Do I believe that having a hearing is a necessary step towards having a will to act? Yes.

A will to act on _what_ exactly? I'm not even clear on what people are hoping comes out of this

Surly a reduction of government command over the economy s/

> It is false because I have no intention of believing it

It's not even a statement, it's just a hearing but I guess that can also be dismissed if you don't want to hear anything near the idea at all.

I didn't think my opinion would be controversial I guess. Open to being too cynical on this. What do you think will come out of these hearings?

I am unaccustomed to social media -- did you notice that you start by labelling some party to these public events with an insulting label? and then follow with a second word that convicts the entire process without evidence or substantiation? since the words flow easily as spoken, I assume this is common practice, but it is really startling to see in a forum based on evidence and specifics.

Nothing that is complex and public is so simple as to convict with one word, and no party to public participation is so one-dimensional as to suffer a derogatory class name without losing real meaning.

I call on readers and posters to fall back to learned basic inquiry skills, and to substantiate statements, to raise the level of dialog about emerging public events here.

I think the main issue is a loss of common sense with the general public.

For a lot of people it is glaringly obvious that natural market forces have little to do with inflation (excluding monopolies, duopolies, cartels).

Knowing this to be fact, then seeing Congress pretend it isn’t, elicits a terse but well deserved response: sham

I recognize my comment was dismissive, because I agree with my sibling comment here. I felt this is so obviously a sham and didn't expect it to be controversial. Do you take issue with the point made or just the tone? Nobody on this thread seems to have explained what exactly makes this not a sham, for anyone even a little bit informed about the world it's obvious that inflation isn't due primarily to corporate profiteering even if that is happening. Do you expect this hearing will help to combat inflation in any meaningful way?

It's for the central bankers: to deflect attention from their printing of money which is the cause of inflation.

Yeah, tax cuts the past decade had nothing to do with it.

You know the money press ran for almost 15 years before this inflation.

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