Trust in the Ignorance/Innumeracy of Americans

… if you listen to CEOs on quarterly earnings calls with analysts, they’re bragging left and right that they’re screwing people on price increases and “inflation”.

I Listened In on Big Business. It’s Profiting From Inflation, and You’re Paying for It.
https://www.nytimes.com/2022/05/05/opinion/us-companies-infl…

I’m still over 95% stock. I expect that to outperform the i-bond over the long term, just as it’s done over the past 25 years.

The only thing that would change that thesis is if the American people suddenly started to get educated and call for a wave of regulation and equal taxation on investment income and wealth. What are the chances of that?

intercst

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Why are people who take exception with pride and profit increases - invested in stocks?

Why don’t they send a message, sell all their equities, including the sacred 401K assets? If a CEO doesn’t increase prices and doesn’t;'t maintain or increase profits - isn’t she/he sort of derelict of duty and should resign and volunteer at a soup kitchen?

As far as people suddenly getting educated…

Who is at the helm on education?

Who is at the helm. vis a vis higher education?

So who is either doing a bad job on education - -or systematically, purposefully keeping the people void of critical thinking skills – especially in disadvantaged communities - speaking of which - who has been at the helm there for a half century. How many disadvantaged school systems - in addition to gym, and condoms - have made a strict personal finance literacy and responsibility graduation requirement?

eweppl asks,

So who is either doing a bad job on education - -or systematically, purposefully keeping the people void of critical thinking skills – especially in disadvantaged communities - speaking of which - who has been at the helm there for a half century. How many disadvantaged school systems - in addition to gym, and condoms - have made a strict personal finance literacy and responsibility graduation requirement?

Both parties benefit from the ignorance and innumeracy of Americans. It’s a bipartisan problem.

intercst

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Absolutely both benefit from, and promote ignorance.

I just feel there’s fair questions - and sensible answers.

For instance - who controls - the gun industry?

To me its a fair question - and an obvious answer.

Likewise…

*Who * controls pop culture that promotes irresponsible behaviors that lead to lower economic mobility?

Who is at the helm - where it comes to education, especially higher education?

Somebody has been, and is - doping a poor job.

Sometimes - on purpose.

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The only thing that would change that thesis is if the American people suddenly started to get educated and call for a wave of regulation and equal taxation on investment income and wealth. What are the chances of that?

Zero of course.
One of the political parties was never really for the working class. The other began tossing labor under the bus 40 years ago:”One of the most shocking quotes in the book is from Alfred Kahn, an advisor to Jimmy Carter, who said, “I’d love the Teamsters to be worse off. I’d love the automobile workers to be worse off.” He then basically says that unionized workers are exploiting other workers.”
https://inthesetimes.com/features/listen-liberal-thomas-fran…

Then there was a bipartisan push to push manufacturing overseas crushing supply of good pay jobs with benefits.
The working class no longer have a political that represents their economic interests.
Both parties are supplied with candidates & sitting representatives funded by political contributions from corporate special interests. Organized(union) labor has been decimated by union jobs shipped overseas & lack of political support from political parties and thus has little influence now. And the professional class, whom have disposable income to invest, benefit from the current taxation rules & wish for it to remain in force without any change.

The dice has been cast. Income mobility has declined. The professional class self perpetuates itself*. And the middle class shrinks**. And corporate special have a firm grasp upon the government. Business as usual will continue. There was a brief aberration in 2016 that was stifled and political parties have ensured no reoccurrence will happen. There are an occasional rumbles from the cause of 2016 aberration but that merely strokes his ego & has little affect the political landscape.
The main stream media is owned by the corporate interest and is merely a mouthpiece spouting the propaganda tilted toward maintaining the system. And education system is costly and limits income mobility by keeping some from becoming credentialed or pushes out graduates heavily in debt. Meanwhile the upper class keep their spawn unencumbered with debt maintaining the class divide. And corporations are supplied with the needed personnel with the required skills necessary self perpetuating their control of the system.
It’s a sweet deal if one is the right side of income inequality line.

*https://www.theatlantic.com/business/archive/2017/06/the-hoa…
**https://www.npr.org/sections/thetwo-way/2015/12/09/459087477…

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