Russel Brand is an extreme liberal. He quotes the Guardian, which by American standards is a pretty left-wing newspaper. At the end of the video, he apparently calls for the elimination of capitalism. Maybe he just means the energy sector. However, if you look at other countries that have state-run energy sectors, they are a disaster.
He throws around a bunch of numbers that emotionally sound impressive. However, the money supply has expanded, which is the true definition of inflation, by 42% in just barely over 2 years!
This inflation robs everyone. This could wipe out my retirement.
Not only would I expect prices to go up, but I would not expect profit to remain at the same monetary level, which is a net loss, but to rise proportionally.
Prices are determined by supply and demand. If a company tries to profit in a particular area, then so will other companies. Competition will take over, although things can get temporarily out of whack and the market takes time to catch up.
It is not true that the Biden administration has let corporations off the hook for inflation. They have been blaming everything except the monetary supply for inflation, including "greedy corporations", and they want to reinstate the windfall profits tax. If the Biden administration removed an attack on business from a speech, then either it doesn't have much traction or it is not a sound idea.
People equate corporations with rich people, but the two are not the same. About 37 trillion dollars of stock are in United States retirement funds, a minuscule portion of which is in my retirement fund. Corporations are a way to democratize business, allowing business ownership to people who otherwise would not be able to own businesses.
On Sun, Apr 3, 2022 at 12:07 PM Albert wrote:
This is an interesting video about war profiteering. In this case, the Russo-Ukraine war.