CNN attempting to create a new narrative

[Belsnickel]

(02-18-2022, 09:57 PM)basballguy Wrote: While it's a cynical point of view, I don't know if you're wrong for thinking it.  So let's look at the data in some of the industries that are actually having a gross effect on inflation (meaning not crude oil related, CNN).  

Let's look at rental cars since it's well known rental car prices have been out of control over the last year.

CPI data says the current inflation relate as it related to car/truck rentals is 29.3%.  This one is actually coming down after peaking somewhere around 50% last year.  So a reasonable person would assume profits were to be made. 

Enterprise saw a net income increase of almost 79% in 2021 when comparing to 2020.  That's actually absurdly high lol.  I'm wondering why it's so high if there wasn't an increase cost in all things operating a business.  So yes, stating the obvious with just a single example, some companies appear to be getting rich off inflation.

However, what do you think they do with these profits?  Yes, executives will likely benefit but so will employees and shareholders.  Is that really such a bad thing?  Remember, "wage growth" is a factor that drives inflation too.  

I mean, talking about shareholders benefitting is irrelevant to me. But that's a larger discussion. We haven't seen things improving for employees, though. Sure, wage growth does impact inflation, but if wage growth were significant enough to actually have a real impact then it wouldn't have negated itself in the process. The money isn't going to the workers. It's going to management and the gamblers (i.e. shareholders).