I'm Going to be a Dictator for One Day, five steps to fascism

[robosmith]

This is FASCISM! 🤮

 

 

[gatomontes99]

6 hours ago, robosmith said:

This is FASCISM! 🤮

 

 

Well, that was absolutely awful testimony. This guy has never worked for a business. 

Let's say you owned a has station and had a 10,000 gallon tank. Im going to ignore operating costs, taxes, etc for the sake of simplicity and illustrating the principle here. And I'll use round numbers for simple math.

So, let's say your supplier sells you gas at $2 per gallon. So it costs you $20,000 to fill the tank. If you sell the gas at $3 per gallon, your revenue is $30,000 and your profit ($30,000 - $20,000) is $10,000. 

At some point, your supplier say that the next tank will cost you $3 per gallon. If you don't change your pricing you'll have just enough money to cover the next tank. Which means you wont have any money left over. You will have to spend profit to stay open. So you change your price to $4 per gallon. You make $40,000 on the tank. Your profit is $20,000 because that gas had only cost you $20,000.

When you buy the next tank at $3 per gallon, you are left with $10,000. To you, your profits are the same. But, on your books, your profits are up 100%. 

So, what really happened to corporations during the Biden inflation era? They had "record profits" and yet, somehow they lost cash:

https://fred.stlouisfed.org/series/QFR201INFUSNO#

We can see the spik from the closures in 2020. They weren't paying employees and residual sales came in. Then, when they reopened and inflation spiked, their cash reserves dropped considerably while "making record profits". 

Reich is cherry picking data. He wants to make the claim that corporations are evil and greedy because they charged replacement costs to remain solvent. It is a damnable lie to claim "record profits" while corporations were losing cash. 

[User]

8 hours ago, robosmith said:

This is FASCISM! 🤮

This was a video from 3 years ago... so, Biden was a fascist?