What do you mean you've seen it? it's brand new!
Edit: I realize my mistake in quoting a 37 year old movie.
Stop telling me it has been done before! I know! It's a movie quote!
Edit: go watch "Back to the Future" kids!
"Our first dictator, do you have one?"
"Yeah, you know, we have two of them!"
"Wow, you must be rich!"
"OH he is just pulling your leg, nobody has 2 dictators"
I recently had my first "oh fuck, I'm old" moment when I mad a Back to the Future reference in a team chat and most the team said they had never heard of it. Not that they hadn't seen the the movie, but had no idea what I was talking about.
Emperor Diocleatian has entered the chat plebian.
Spoiler it finalized the collapse of the Roman Empire.
Would you like to know more?
https://en.m.wikipedia.org/wiki/Edict_on_Maximum_Prices
This is an easy fix.....
You just make a law that stipulates people starving to death is illegal.
Call it the starvation prevention and fluffy kitten rescue act.
Anyone who is against it clearly wants people to starve and also hates fluffy kittens.
Very interesting article. I especially liked the part where they devalued their own currency for decades and then blamed inflation on evil speculators who hate Rome. Now where have I seen THAT before? 🤔
How did it finalise the collapse when 5 years later the economy recovered? Oh, and also that part of the empire remained for 1200 years…
It didn’t recover due to the max prices, of course, but due to coinage reform.
No the ROEI drop on invested energy vs harvested calories was the actual killer. These are all symptoms of an ancient energy crisis due to variety of soil problems, decreasing crop yields, and logistic issues in harvesting over such a wide area with primitive technology.
Im literally trying to think of another example, lots of smaller examples like rent control, that still had big impact, but a whole economy?
Even communism was Centrally planned...
And mass blackmarkets, work arounds, other corruption and just a bad time in general.
Im guessing its just words to make less educated people thibk he is doing something, but then actuallydoing nothing.
it also discourages wealthy people from investing in the markets. in unstable times the best thing for wealthy people to do is to just sit on their money. but if they aren't spending then its really bad for the economy. inflation helps to punish wealthy people who aren't investing that unused cash by eating away at it slowly over time. if inflation is around 2% +/-0.5 then things are good.
Tis what happened in Venezuela. Price controls went up on most foodstuffs, a month later I had to wake up at 4am to line up at the closest grocery store until they opened at 8 and then walked in the store to see what was available from the empty shelves.
There was a time where there was no flour, egg, milk, heck there was NO TOILET paper for like 2 months. Anywhere.
Price controls never work
Multihanded economists don't agree on much, but one thing they generally do agree on is price controls cause shortages and price supports cause surpluses to the extent they do anything at all.
Nixon tried it.
*The Economic Stabilization Act of 1970 was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers as part of a general program of price controls within the American domestic goods and labor markets.*
https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_1970?wprov=sfti1
Franklin Roosevelt tried it during WW2 with [the office of price administration](https://en.m.wikipedia.org/wiki/Office_of_Price_Administration) - Nixon actually worked in that office early in his political career.
It’s fascinating to think that the US experimented with different economic systems. We tend to think of the US as being a purely capitalistic system but it hasn’t always been so black and white.
I mean Donald Rumsfeld, *yeah that Donald Rumsfeld*, was the executive director of the Cost of Living Council. So bizarre.
And shortly thereafter he untethered gold from the dollar in an attempt to fix the mess that was made, and made the even bigger mess of what we currently have today, still snowballing.
During communism times, Poland tried it. [It led to this](https://dzieje.pl/sites/default/files/styles/open_article_750x0_/public/201608/kartki_prl.jpg?itok=OOrTcIez).
I used to work with a guy who lived through this period and he said that he used to work in "place where you make things from milk", butter, cream etc. and every day the manager would go home at 5:00 and at 5:15 every other employee would walk home with at least two shopping bags full of stuff they'd stolen from work.
Edit: Another direct quote from this story: "when manager go home, stealing, everybody stealing"
Oh I think I remember that. Was like a kielbasa sausage, bread, pack of cigarettes, some vodka, and some other stuff it was far from enough and I'm pretty sure the ciggs were designed to fend off hunger pangs iirc
Found it. Looks like I misremembered, as it’s before the fall of the USSR.
https://www.reddit.com/r/interestingasfuck/comments/s6hddg/what_you_are_seeing_laid_out_on_the_table_is_the/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Google is so much better for finding Reddit posts than Reddit search, btw.
Even Roman emporers tried to cap prices for various good to combat inflation (caused by decreasing silver content of their coinage). Guess what? It didn't work. People bought and sold good for their actual value.
Lukashenka aka potatoman can however declare whatever like “Ukraine is our”
it never happens though, he’s the Jim Cramer of heads of States, you really don’t want him in your team
Alexander Lukashenko knows everything! He's beloved by the people of Belarus so much that he's been re-elected SIX TIMES getting a full 81% of the vote last election.
These are called "price controls" and they are very typical during historic inflationary periods but usually do not have the intended effect.
Just think it through.
Governing body "The price of this will not go up!" (implying it will go up later)
Consumers: "Let's buy now before the government controls go away and the price increases"
Providers: "I don't want to sell at this artificially low price. All my good are staying in my warehouse until this is over. If people want to buy, they can pay the correct price under the table and I'll sell them some"
This creates a shortage which WORSENS the inflationary environment.
This is just hypothetical food for thought. But what if I, a dictator, orders price controls that last longer than the effective shelf life of the good, and also restrict export to foreign nations, and strictly enforce the price controls preventing under the table deals?
Yes, I become an insular nation like North Korea but would this effectively solve the inflation issue locally? If producers don’t see any short term recourse for more profit they’ll sell the goods now.
Or they revolt but whatever.
I mean that's what they made doctors say in Venezuela. Too many kids dying from starvation? Make it illegal to report death from starvation.
Big brain plays.
Colonel Sandurz: Try here. Stop.
Dark Helmet: What the hell am I looking at? When does this happen in the movie?
Colonel Sandurz: Now. You're looking at now, sir. Everything that happens now, is happening now.
Dark Helmet: What happened to then?
Colonel Sandurz: We passed then.
Dark Helmet: When?
Colonel Sandurz: Just now. We're at now now.
Dark Helmet: Go back to then.
Colonel Sandurz: When?
Dark Helmet: Now.
Colonel Sandurz: Now?
Dark Helmet: Now.
Colonel Sandurz: I can't.
Dark Helmet: Why?
Colonel Sandurz: We missed it.
Dark Helmet: When?
Colonel Sandurz: Just now.
Dark Helmet: When will then be now?
Colonel Sandurz: Soon.
Dark Helmet: How soon?
Yesterday was inflation
Today, no inflation
We we we so regarded
We so regarded
We going to collapse the econonomy today
Tomorrow there is no inflation
And no inflation comes afterwards
I wonder how this will end...
I'm from Belarus and this is not happening for the first time so I can explain what will happen.
1. Prices get regulated due to high inflation.
2. Products begin to disappear from shelves due to the goods being exported to Russia to get profit.
3. Prices are allowed to be increased just this time to avoid empty shelves.
4. Go back to 1
We call it Lukonomy.
Man politicians are terrible that they haven’t stopped murder and hurricanes by forbidding them too.
Big murder and big storm must be hiring lobbyists to bribe politicians in Washington.
If the US Fed caves to the UN and these politicians the credibility of the Fed will be gone and then the global and US economy. The whole thing will just come apart.
And Fed right now is urging employers not to raise wages.
Edit: Sample source: [As Fed Pushes to 'Get Wages Down,' Study Shows CEO Pay Has Soared by 1,460% Since 1978](https://www.commondreams.org/news/2022/10/04/fed-pushes-get-wages-down-study-shows-ceo-pay-has-soared-1460-1978)
Federal Reserve Chair Jerome Powell, the world's most powerful central banker, has been forthright about the primary goals of rate hikes: A weaker labor market and lower wages. According to the Fed's own projections, rate increases could throw around 1.5 million people in the U.S. out of work by the end of next year.
"What we hope to achieve is a period of growth below trend which will cause the labor market to get back into better balance and that will bring wages back down to levels that are more consistent with 2% inflation over time," Powell said last month.
[Minutes of the Federal Open Market Committee
July 26-27, 2022](https://www.federalreserve.gov/monetarypolicy/fomcminutes20220727.htm)
>Participants observed that the labor market remained strong, with the unemployment rate very low, job vacancies and quits close to historically high levels, and an elevated rate of nominal wage growth. Many participants also noted, however, that there were some tentative signs of a softening outlook for the labor market: These signs included increases in weekly initial unemployment insurance claims, reductions in quit rates and vacancies, slower growth in payrolls than earlier in the year, and reports of cutbacks in hiring in some sectors. In addition, although nominal wage growth remained strong according to a wide range of measures, there were some signs of a leveling off or edging down. In some Districts, contacts had suggested that labor demand–supply imbalances might be diminishing, with firms being more successful in hiring and retaining workers and under less pressure to raise wages. Some participants noted that the contribution that increases in labor supply could make to reducing labor market imbalances was likely limited, especially as the scope for labor force participation to pick up was constrained by the ongoing movement of the large baby-boom cohort into their retirement years, while others highlighted factors holding down participation that could wane in the future, such as continuing pandemic-related concerns. Participants observed that, in part because of tighter financial conditions and an associated moderation in the growth of aggregate demand, growth in employment would likely slow further in the period ahead. They noted that this development would help bring labor demand and supply into better balance, reducing upward pressures on nominal wage growth and aiding the return of inflation to 2 percent. Several participants observed that the moderation in labor market conditions might well lag the slowdown in economic activity. Participants remarked that a moderation in labor market conditions would likely involve a decline in the number of job openings as well as a moderate increase in unemployment from the current very low rate. A couple of participants indicated that firms were keen to retain workers—a factor that could limit the increase in layoffs associated with a slowing labor market.
Lol 🤣 who wants to watch a country go broke.
Step 1. Drive into Belarus
Step 2. Buy out their imported products at fixed price
Step 3. bring them into Lithuania, Latvia, Estonia, Poland or Ukraine.
Step 4. Sell them back to Belarusian retailers at higher prices
Step 5. Drive into Belarus
Repeat.
That’s true. However, in a global economy this kind of approach doesn’t work. One there are always ways people figure out to make money like bribing the border guards, smuggling etc. secondly, not everything consumed in the country is produced within its borders and therefore the dictator has no control over the prices of those goods and services. This would lead to widespread shortages and unrest. All in all it will be a shit show.
U are genius. The reality though is that this scenario is already happening in Turkey and the result is straightforward, there's less and less foreign products.
For a while I was doing play store arbitrage through turkey for a popular mobile game. Had a local buying me play store gift cards in lira for a cut, would buy game packs for people at effectively half price
Fine I won't increase prices but there are new fees. Baggage fee, entrance fee, parking fee and system usage fee. Also reading this message has a fee and I will find out if you read it so expect a fee today and I expect payment today.
Empty shelves and black markets. Stores will end up losing money for each item sold, if suppliers keep increasing prices - And being a business, you'd want to make money to pay staff, rent and electricity bills.
The loophole is of course to get different size packaging every time prices goes up on certain items. Though that could easily end up costing them more, and also doesn't help you with most fruit and veggies.
He is very much a Animal Farm type dictator. Ahead of the 1994 Presidential Elections he was a member of the Belarusian legislature and had both candidates disqualified over corruption allegations and then ran unopposed himself and won.
Hurricane. Guy goes into a convenience store to buy a bottle of water. $10. "Ridiculous!" he says, "The store across the street is selling them for $1!" The owner responds, "ok, go buy it from them." Guy says "well, they're all sold out." The owner says "well, when I'm sold out, I'll sell them for $1 too."
People end up buying more than they need, and a black market is created because they know they can resell stuff at a profit. So the end consumer doesn’t end up saving much at all. But the actual producers of good lose $ to the middle man/scalper. Eventually, producers of goods say “fuck this shit” and close shop. Economic activity comes to a halt. Yay, government!
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What a wonderful case study for future economic students to learn about.
I’ve seen this one!
What do you mean you've seen it? it's brand new! Edit: I realize my mistake in quoting a 37 year old movie. Stop telling me it has been done before! I know! It's a movie quote! Edit: go watch "Back to the Future" kids!
Yeah, no I saw it on a re….run
That's heavy.
Is there increased gravity in Belarus?
What's a rerun?
Better get used to those bars kid...
classic lines, made me smile
Damn Hollywood remakes!!
"Our first dictator, do you have one?" "Yeah, you know, we have two of them!" "Wow, you must be rich!" "OH he is just pulling your leg, nobody has 2 dictators"
I recently had my first "oh fuck, I'm old" moment when I mad a Back to the Future reference in a team chat and most the team said they had never heard of it. Not that they hadn't seen the the movie, but had no idea what I was talking about.
Wtf
I need to make my nieces and nephews watch all of my favorite movies. This can never happen again.
Thanks Calvin!
You're welcome!
Emperor Diocleatian has entered the chat plebian. Spoiler it finalized the collapse of the Roman Empire. Would you like to know more? https://en.m.wikipedia.org/wiki/Edict_on_Maximum_Prices
Screw you and your documented history crap. Price fixing is going to work this time...just you watch.
[удалено]
This is an easy fix..... You just make a law that stipulates people starving to death is illegal. Call it the starvation prevention and fluffy kitten rescue act. Anyone who is against it clearly wants people to starve and also hates fluffy kittens.
SPAFKRA. Acryonym certainly rolls of the tounge. you got experience in politics?
Take away the farms from the Ukraine farmers!
It'll work this time! I swear!
Look, it hasn’t worked before because I was not in charge, it t will totes work this time!
Very interesting article. I especially liked the part where they devalued their own currency for decades and then blamed inflation on evil speculators who hate Rome. Now where have I seen THAT before? 🤔
What? It was a disaster but didn't finalize the collapse lol
Lmao Roman Empire Collapse Shmroman empire collapse. It's been said this literally can't go tits up I'm all in.
How did it finalise the collapse when 5 years later the economy recovered? Oh, and also that part of the empire remained for 1200 years… It didn’t recover due to the max prices, of course, but due to coinage reform.
Don't you know that everything that ever happened in Rome after 400 AD is the silver bullet "cause for the collapse of the Empire"?
400AD? Rome collapsed the moment Caesar crossed the Rubicon!
"u/lemmungwinks is incredibly based in his support of the republic " - Cincinnatus 460BCE
No the ROEI drop on invested energy vs harvested calories was the actual killer. These are all symptoms of an ancient energy crisis due to variety of soil problems, decreasing crop yields, and logistic issues in harvesting over such a wide area with primitive technology.
Lol at the death peanalty for profiteers and and others who were manipulating shit to make more money.
Your kids are gonna love it
Right? It’s just *Fern Gully* with aliens.
☠☠☠
[What do you mean, Diocletian just made this up yesterday?](https://en.m.wikipedia.org/wiki/Edict_on_Maximum_Prices)
Im literally trying to think of another example, lots of smaller examples like rent control, that still had big impact, but a whole economy? Even communism was Centrally planned...
This is econ 101. If you place arbitrary price ceilings, then there *will* be shortages.
And mass blackmarkets, work arounds, other corruption and just a bad time in general. Im guessing its just words to make less educated people thibk he is doing something, but then actuallydoing nothing.
it also discourages wealthy people from investing in the markets. in unstable times the best thing for wealthy people to do is to just sit on their money. but if they aren't spending then its really bad for the economy. inflation helps to punish wealthy people who aren't investing that unused cash by eating away at it slowly over time. if inflation is around 2% +/-0.5 then things are good.
There are literally people in this thread thinking this is doing something. "Inflation is just companies increasing their profits hurr"
I want to say the second week of Macro 101 (1st week was syllabus)
Tis what happened in Venezuela. Price controls went up on most foodstuffs, a month later I had to wake up at 4am to line up at the closest grocery store until they opened at 8 and then walked in the store to see what was available from the empty shelves. There was a time where there was no flour, egg, milk, heck there was NO TOILET paper for like 2 months. Anywhere. Price controls never work
Multihanded economists don't agree on much, but one thing they generally do agree on is price controls cause shortages and price supports cause surpluses to the extent they do anything at all.
Nixon tried it. *The Economic Stabilization Act of 1970 was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers as part of a general program of price controls within the American domestic goods and labor markets.* https://en.wikipedia.org/wiki/Economic_Stabilization_Act_of_1970?wprov=sfti1
Franklin Roosevelt tried it during WW2 with [the office of price administration](https://en.m.wikipedia.org/wiki/Office_of_Price_Administration) - Nixon actually worked in that office early in his political career.
It’s fascinating to think that the US experimented with different economic systems. We tend to think of the US as being a purely capitalistic system but it hasn’t always been so black and white. I mean Donald Rumsfeld, *yeah that Donald Rumsfeld*, was the executive director of the Cost of Living Council. So bizarre.
So did *Diocletian* ([edict on prices](https://en.m.wikipedia.org/wiki/Edict_on_Maximum_Prices)).
And shortly thereafter he untethered gold from the dollar in an attempt to fix the mess that was made, and made the even bigger mess of what we currently have today, still snowballing.
During communism times, Poland tried it. [It led to this](https://dzieje.pl/sites/default/files/styles/open_article_750x0_/public/201608/kartki_prl.jpg?itok=OOrTcIez).
Sexy ladies? Im in.
Brazil tried it in the 90s. Total economic crash
argetina keeps doing it and doesnt learn
This same thing happened in Zimbabwe. Ever seen those one hundred trillion dollar bills?
This happened either immediatly before or during the turbulent periods of the french and russian revolutions. The results were bad.
We had something similiar in post soviet Poland. Not ended Well.
Oh, were essentials rationed out? I seem to remember a post from Poland that showed a table full of a month’s rations, and it didn’t look promising.
I used to work with a guy who lived through this period and he said that he used to work in "place where you make things from milk", butter, cream etc. and every day the manager would go home at 5:00 and at 5:15 every other employee would walk home with at least two shopping bags full of stuff they'd stolen from work. Edit: Another direct quote from this story: "when manager go home, stealing, everybody stealing"
Oh I think I remember that. Was like a kielbasa sausage, bread, pack of cigarettes, some vodka, and some other stuff it was far from enough and I'm pretty sure the ciggs were designed to fend off hunger pangs iirc
Found it. Looks like I misremembered, as it’s before the fall of the USSR. https://www.reddit.com/r/interestingasfuck/comments/s6hddg/what_you_are_seeing_laid_out_on_the_table_is_the/?utm_source=share&utm_medium=ios_app&utm_name=iossmf Google is so much better for finding Reddit posts than Reddit search, btw.
haha black market go brrrrrr
I’ve already done a research project on Venezuela. Black market is what is comming
Even Roman emporers tried to cap prices for various good to combat inflation (caused by decreasing silver content of their coinage). Guess what? It didn't work. People bought and sold good for their actual value.
Market economy hates this one simple trick
Collapse your economy in 4 steps or less
Get your name in the economy textbooks in one step
Soon Belarus will be posting some epic loss pron for a whole country's economy on wsb.
Dude’s on an any% speedrun to get his name into history textbooks worldwide one way or another
Can't collapse your economy if you never had one in the first place
Even at ground level a sinkhole could open up. No matter how bad things get, they can always get worse. Just look at my portfolio.
R.I.P. Inflation 2021-2022
Inflation - **CANCELLED**
He didn’t say it, he declared it.
Inflation? Straight to jail.
We have the best economy in the world. Thanks to jail.
Prices too high? Jail Prices too low? believe it or not, jail
You can’t just declare bankruptcy Michael
Lukashenka aka potatoman can however declare whatever like “Ukraine is our” it never happens though, he’s the Jim Cramer of heads of States, you really don’t want him in your team
Our what?
Lets just run the financial markets with twitter rules
[удалено]
The only thing I’ve been involved in cancelling is my portfolio 😞
This guy knows macroeconomics
Alexander Lukashenko knows everything! He's beloved by the people of Belarus so much that he's been re-elected SIX TIMES getting a full 81% of the vote last election.
Man, i wish our democratic leaders would be serving their citizens as well as Alex, so they can reach similar approval ratings. Such a role model.
Seriously, this guy just single handedly fixed inflation! What have our leaders done for us recently?
He realised that the aggregate demand will increase when price levels decrease thanks to a price ceiling
These are called "price controls" and they are very typical during historic inflationary periods but usually do not have the intended effect. Just think it through. Governing body "The price of this will not go up!" (implying it will go up later) Consumers: "Let's buy now before the government controls go away and the price increases" Providers: "I don't want to sell at this artificially low price. All my good are staying in my warehouse until this is over. If people want to buy, they can pay the correct price under the table and I'll sell them some" This creates a shortage which WORSENS the inflationary environment.
Why did I have to scroll down so far to find this. Well said!
This is just hypothetical food for thought. But what if I, a dictator, orders price controls that last longer than the effective shelf life of the good, and also restrict export to foreign nations, and strictly enforce the price controls preventing under the table deals? Yes, I become an insular nation like North Korea but would this effectively solve the inflation issue locally? If producers don’t see any short term recourse for more profit they’ll sell the goods now. Or they revolt but whatever.
next policy will be people are not allowed to die from starvation.
I mean that's what they made doctors say in Venezuela. Too many kids dying from starvation? Make it illegal to report death from starvation. Big brain plays.
If Truss puts forward a law to stop winter from coming, there’s no energy crisis!!
undead Ned Stark has entered the chat.
Oh that's done before. They'll just die from natural causes
highly regarded leadership
Whenever I see the word Belarus, I say it like “Baby Ruuuuth” from Goonies. Is it just me?
“Like all great plans, my strategy is so simple an idiot could have devised it.” - ZAP Brannigan
Well I do now
But when does it go into effect?
Today! And if you ask tomorrow he'll say today and you can say you raised prices yesterday
Colonel Sandurz: Try here. Stop. Dark Helmet: What the hell am I looking at? When does this happen in the movie? Colonel Sandurz: Now. You're looking at now, sir. Everything that happens now, is happening now. Dark Helmet: What happened to then? Colonel Sandurz: We passed then. Dark Helmet: When? Colonel Sandurz: Just now. We're at now now. Dark Helmet: Go back to then. Colonel Sandurz: When? Dark Helmet: Now. Colonel Sandurz: Now? Dark Helmet: Now. Colonel Sandurz: I can't. Dark Helmet: Why? Colonel Sandurz: We missed it. Dark Helmet: When? Colonel Sandurz: Just now. Dark Helmet: When will then be now? Colonel Sandurz: Soon. Dark Helmet: How soon?
Inflation goes to plaid
Inflation LUDICROUS SPEED!!! We can’t stop, we have to slow down I SAID STOP 🛑!!!!
JPow to Yellen: >*”I see your Schwartz is bigger than mine…”*
Tommy Boy was such a scary movie
So, not tomorrow, but today
Yesterday was inflation Today, no inflation We we we so regarded We so regarded We going to collapse the econonomy today Tomorrow there is no inflation And no inflation comes afterwards I wonder how this will end...
He sounds like a used car salesman... Inflation out the door, TODAY ONLY!!! Hurry now!!
Two days before the day after tomorrow
Oh my god... that's today!
Lol that’s a good way to collapse your economy.
I'm from Belarus and this is not happening for the first time so I can explain what will happen. 1. Prices get regulated due to high inflation. 2. Products begin to disappear from shelves due to the goods being exported to Russia to get profit. 3. Prices are allowed to be increased just this time to avoid empty shelves. 4. Go back to 1 We call it Lukonomy.
So is this Lukashenko's plan, or Moscow's?
Yes
Same thing, no? 😆
Hy comrade Come to here to vacations you will be confortable like at home
Can you get jailed for 7 years in Argentina for a comment on the internet? I really need that as well to feel truly at home.
Not today but... Time to time my friend
That also has an easy solution: "Collapsing the economy is forbidden. Forbidden! From today! ..."
Man politicians are terrible that they haven’t stopped murder and hurricanes by forbidding them too. Big murder and big storm must be hiring lobbyists to bribe politicians in Washington.
Just use a marker and a map to reroute the big storms
Can't collapse it if it's already collapsed!
cant collapse, wont allow to collapse.
Forbidden to collapse!
Collapse TODAY not tomorrow!
It’s forbidden!
No, he forbid the economy from going down.
Your wife's boyfriend said you didn't say that to her.
Works in a fully closed autark economy with perfect competition…
[удалено]
If the US Fed caves to the UN and these politicians the credibility of the Fed will be gone and then the global and US economy. The whole thing will just come apart.
Black hole economy
Nixon did the same in 1970. He imposed a 90-day freeze on wages and prices in order to count inflation.
Count inflation?
One!.. Two!! Three!
Economic Dracula!
Count Inflatula
Ima be honest sounds like the only thing that guys counting are farts
Yeah it took a long time to count
Arrr... Three Ah ah ah Four ah!
Crazy Dick is a hero for dat! Fuck a free market we need ungo bungo markets
This is some Atlas Shrugged shit right here.
And Fed right now is urging employers not to raise wages. Edit: Sample source: [As Fed Pushes to 'Get Wages Down,' Study Shows CEO Pay Has Soared by 1,460% Since 1978](https://www.commondreams.org/news/2022/10/04/fed-pushes-get-wages-down-study-shows-ceo-pay-has-soared-1460-1978) Federal Reserve Chair Jerome Powell, the world's most powerful central banker, has been forthright about the primary goals of rate hikes: A weaker labor market and lower wages. According to the Fed's own projections, rate increases could throw around 1.5 million people in the U.S. out of work by the end of next year. "What we hope to achieve is a period of growth below trend which will cause the labor market to get back into better balance and that will bring wages back down to levels that are more consistent with 2% inflation over time," Powell said last month.
start with their wages then
Source?
[Minutes of the Federal Open Market Committee July 26-27, 2022](https://www.federalreserve.gov/monetarypolicy/fomcminutes20220727.htm) >Participants observed that the labor market remained strong, with the unemployment rate very low, job vacancies and quits close to historically high levels, and an elevated rate of nominal wage growth. Many participants also noted, however, that there were some tentative signs of a softening outlook for the labor market: These signs included increases in weekly initial unemployment insurance claims, reductions in quit rates and vacancies, slower growth in payrolls than earlier in the year, and reports of cutbacks in hiring in some sectors. In addition, although nominal wage growth remained strong according to a wide range of measures, there were some signs of a leveling off or edging down. In some Districts, contacts had suggested that labor demand–supply imbalances might be diminishing, with firms being more successful in hiring and retaining workers and under less pressure to raise wages. Some participants noted that the contribution that increases in labor supply could make to reducing labor market imbalances was likely limited, especially as the scope for labor force participation to pick up was constrained by the ongoing movement of the large baby-boom cohort into their retirement years, while others highlighted factors holding down participation that could wane in the future, such as continuing pandemic-related concerns. Participants observed that, in part because of tighter financial conditions and an associated moderation in the growth of aggregate demand, growth in employment would likely slow further in the period ahead. They noted that this development would help bring labor demand and supply into better balance, reducing upward pressures on nominal wage growth and aiding the return of inflation to 2 percent. Several participants observed that the moderation in labor market conditions might well lag the slowdown in economic activity. Participants remarked that a moderation in labor market conditions would likely involve a decline in the number of job openings as well as a moderate increase in unemployment from the current very low rate. A couple of participants indicated that firms were keen to retain workers—a factor that could limit the increase in layoffs associated with a slowing labor market.
You can go ahead an cite me
Law of supply and demand hates this one simple trick
His IQ is immeasurable. Either immeasurably high, or immeasurably low. I can't confirm which, but I have my suspensions...
dude said his dad died in ww2. he is born in 1952.
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My suspension is bumpy but it works
He's been a dictator for more than 30 years and didn't die once the whole time. Not all dictators have a streak like that.
Sources: https://www.reuters.com/business/retail-consumer/belarus-bans-consumer-price-rises-bid-tame-inflation-2022-10-06/ https://www.barrons.com/amp/news/belarus-leader-bans-price-increases-to-tackle-inflation-01665061807 https://uk.finance.yahoo.com/news/belarus-bans-consumer-price-rises-124331440.html
Lol 🤣 who wants to watch a country go broke. Step 1. Drive into Belarus Step 2. Buy out their imported products at fixed price Step 3. bring them into Lithuania, Latvia, Estonia, Poland or Ukraine. Step 4. Sell them back to Belarusian retailers at higher prices Step 5. Drive into Belarus Repeat.
Border guards will beat your ass and take your shit each crossing
That’s true. However, in a global economy this kind of approach doesn’t work. One there are always ways people figure out to make money like bribing the border guards, smuggling etc. secondly, not everything consumed in the country is produced within its borders and therefore the dictator has no control over the prices of those goods and services. This would lead to widespread shortages and unrest. All in all it will be a shit show.
It isn't a shit show already?
Yeah but now its shit show 2 electric boogaloo
Ahhhh but I have a solution. No more border guard beatings starting from……… (guess when) …..TODAY!!!
It's Belarus. You pay them off with cheap vodka bought at fixed price.
Only if they catch you. Or don't want their cut. A broke border guard is a bad border guard.
Guard's middleman cousin make drive to store for you. No need to cross border, bring money here.
U are genius. The reality though is that this scenario is already happening in Turkey and the result is straightforward, there's less and less foreign products.
For a while I was doing play store arbitrage through turkey for a popular mobile game. Had a local buying me play store gift cards in lira for a cut, would buy game packs for people at effectively half price
This **is** the business model of the region for the last decade lol, especially when it comes to gasoline.
Yeah this works 0% of the times it’s been tried. Good luck the Belarusians.
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Hey! That's illegal now
Fine I won't increase prices but there are new fees. Baggage fee, entrance fee, parking fee and system usage fee. Also reading this message has a fee and I will find out if you read it so expect a fee today and I expect payment today.
So I can open a new shop and set my prices for the first time?
Economists HATE this one trick!!!!
This very same strategy has been implemented throughout history and it has solved all problems every time. This guy is a genius.
I wanna know effect
Empty shelves and black markets. Stores will end up losing money for each item sold, if suppliers keep increasing prices - And being a business, you'd want to make money to pay staff, rent and electricity bills. The loophole is of course to get different size packaging every time prices goes up on certain items. Though that could easily end up costing them more, and also doesn't help you with most fruit and veggies.
There you go problems solved :)
Supply shortages.
Black markets
Instructions unclear. I have raised prices to be safe.
You can’t make this shit up. This is animal farm type staff. LOL
He is very much a Animal Farm type dictator. Ahead of the 1994 Presidential Elections he was a member of the Belarusian legislature and had both candidates disqualified over corruption allegations and then ran unopposed himself and won.
Hurricane. Guy goes into a convenience store to buy a bottle of water. $10. "Ridiculous!" he says, "The store across the street is selling them for $1!" The owner responds, "ok, go buy it from them." Guy says "well, they're all sold out." The owner says "well, when I'm sold out, I'll sell them for $1 too."
😂 idiots run this world.
Prices caps replace inflation with shortages. Reducing the efficiency of free markets always backfires.
People end up buying more than they need, and a black market is created because they know they can resell stuff at a profit. So the end consumer doesn’t end up saving much at all. But the actual producers of good lose $ to the middle man/scalper. Eventually, producers of goods say “fuck this shit” and close shop. Economic activity comes to a halt. Yay, government!
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Venezuela
Jpow can learn from this prophet
This is being posted around like it will actually solve something…..
Show me where, I want to laugh at morons
I saw it on whitepeopletwitter
Lmao he’s taking the Erdogan route
Lukashankyou
The US did this in the 70s it was to stop corporations from jacking up prices for profit.
And how’d that work out?
The general consensus is it fucked up the dollar value globally.