How Inflation Punishes Workers | The Problem with Jon Stewart
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- Опубліковано 18 кві 2023
- Is corporate greed involved in the rising interest rates hurting the common worker? Hint: Yes! Our panel takes a look at the several ways policy makers have designed a system to punish the worker.
Watch the full panel in “The Inflation Blame Game,” now streaming on Apple TV+.
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#TheProblemWithJonStewart #inflation #economy - Комедії
So basically: "We ain't gonna fix shit cause it'd be too difficult and then the rich wouldn't be rich."
That's all this ever comes down to.
“Then the rich wouldn’t be rich.” You mean, the rich would be less rich. Can’t have that.
@@drapdv i could have that.
@@drapdv The rich would be less richer than the rest of us. They are driving us to a feudal society where they own you, and you get what they deign to give you, not what you earn. They want it all and don't want to share any more than they must.
@@drapdv that's communism!
@@somnorila9913Communism? We have tax caps that favor the super rich. Buy a boat for 300 grand in Florida and you pay the same amount in taxes as a 2 million dollar yacht. So I'm sure that's what he meant by less rich.
I was laughing when I decided to do a little job searching and ran across a job I had worked in my teenage years. The wage for that position hadn't changed in 20 years. These companies will continue to pay the bare minimum to their workers until they're forced to do otherwise.
Yes and Jon Stewart also noted that tax-funded programs like food stamps and welfare are like the government subsidizing the cost of paying for labor for these companies.
I want to laugh at our local Burger king. They always complain they can't find workers. Advertised on their hiring sign is $13/hour. Every other place in town is $15 plus. I think I see what the problem here is
Yeah, that's the answer. Force people to give up their money to poor people. That's called communism and it's been proven to not work anywhere anytime. Some jobs are only worth so much, especially when you're a teenager. Dolt!
And they will cause inflation because they are GREEDY. PERIOD!
@@brcarter1111exactly. That’s why I boycott Walmart.
Greed is the biggest problem,there is enough for everyone’s need,but not enough for everyone’s greed!
you said it. the more employees make the more they want and more they spend.
@@SgtJoeSmith you first have to make sure everyone makes enough to get the needs, when militery personel, fast food workers and walmart employies need food stamps to survive something is wrong and it has nothing to do whit their greed
@samolofsson2401 yes. Something is wrong. They are now grown up and old enough to get an adult job and stop doing kid jobs. if they need food stamps cause they spend $200 to $400 a week on smokes, dip, beer, lotto tickets, weed like my past employees then yes something is wrong.
I'm surprised you people don't complain when a 40 year old riding his bicycle delivering news papers 2 hrs in the evening can't support a family of 5 then something is wrong. Yes something is wrong. He needs a mental evaluation! To see why he still riding a bike delivering papers at 40. Just like anyone not in school anymore that's still working fast food or Walmart and isn't a manager making $40k needs a mental evaluation to see what's wrong.
@samolofsson2401 when the owner of the company is on welfare and food stamps cause greedy lazy employees not getting shit done that's when there is a real problem
The greed of the rich, however, gets turned into policy
I remember turning 19 and I got REALLY into politics. I thought "Wow politics decide literally the world decisions for all people, why isn't EVERYONE obsessed with politics?" but that world is so harsh, so corrupt, so overwhelming bleak that its hard to be a political person. I commend people who are, I can't do it 24/7
Exactly the same situation. I found over the years that those who did stick it out and make politics their identity tend to be very angry, bitter people.
Real changes are neither decided by politics nor economics. Real changes always come from technology advancements. The world is globalized because transport and comunication have improved so much that it's a much smaller place now, and no politics will stop it. Democracy and worker rights are the product of industralization and (again) comunications. It's always like that. Society make small steps to addapt to the last tech until society is no more the same.
@@jal051 Tech affects the world massively, but to say real changes aren't decided by politics and economics is downright ignorant. Politics eroded union and worker power and rights. Social security was created from the necessity, due to an overwhelming poverty amongst senior citizens, then it was largely destroyed by politics. Countless examples of politics deciding people's fates on national and international scales.
@@Isaic02 Worker rights only become a thing when industrialization kicks in and people move from the country to cities where population density allows them to group and revolt. That's a direct result of a revolution in technology.
Of couse politics matter, but politics navigate the waters of technology improvement. They can't go against the flow.
Something similar is happening right now. Politics are trying to go against globalization. They will fail. It's impossible to go against globalization because globalization is the result of the improvements in comunication and transport. They will try and they will slow it down temporarily, but it's not possible to stop it.
Bullshit, globalization is what it is because corporations go wherever they don't have to pay people any more than subsistence living but then come back and ship their products to be sold the top dollar for instance in the United States. Like an iPhone, made with slave labor, then shipped back and sold for $1,500.
“John Steinbeck once said that socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires"
- Ronald Wright
That's a great quote and very true.
This could not be more true. And then they try to go into debt to appear wealthy..which pushes them further into the cycle...keeping the rich richer.
he put that nicely....plus the wrong thinking that everybody can make it.
Still true today.
And America hasn't experienced the pitch forks rise up or king beheading that Europe experienced. Europeans learned that the Nobles and Bourgeois can exist with their power and titles, and money and Land but that it had to share a little and as long as the proletariat has a decent life, they on top can enjoy their life in wealth as well.. What has happened in USA, especially since the fall of the cold war is that the ones on top don't seem to have enough.. YES, they deserve to be rich. YES they deserve their place.. But so do we at the bottom and the discussion is or should not be of them against us but some measure of decency and respect that they could never be there without us! And when is enough enough?? I had rhe pleasure in working for a non profitable organization who delivered the best dental care in USA and there was nothing Socialist about it, nor a government run capitalist enterprise. Yes now Inwork for a company whose owners care about us the little people. We are talking however about America whose elite or politructs screw the right as much as the left.. the onky difference is that half the population cheer for the people who screw them over in the worse way and they die or go to prison defending it... what gives man....😢
“When wealth is passed off as merit, bad luck is seen as bad character. This is how ideologues justify punishing the sick and the poor. But poverty is neither a crime nor a character flaw. Stigmatize those who let people die, not those who struggle to live.”
- Sarah Kendzior
Alright, Socrates.
Being both poor and rich can be a character flaw.
Being rich generally necessitates a way of thinking and doing business that is not entirely ethical or favorable for other people. It's safe to say that the perception of rich people is that they are rude, snobs, egotistical, and selfish. Those would be seen as character flaws in a social circle, but as character benefits for economics.
Being poor generally necessitates a way of thinking and doing business that is not entirely ethical or favorable for other people as well. This can be things like low self esteem, drive, drug abuse, gambling, anger control, over extending resources, etc.. Things such as being overly charitable can lead one to be poor, because while socially ethical, it runs counterintuitive to economic wealth.
Character "flaws" are entirely subjective, as well as nuanced. They may not be seen as a flaw in one aspect of life but are detrimental to another. They can also switch places on a whim, or based on how each system is judged ( socialism favors charitable characteristics while capitalism disfavors them ).
The great thing about flaws though is that they can more often than not be changed, just as easily as a strength can be turned into a weakness. Adjusting the things you can to make things more favorable to you is a skill, and a way of thinking. People tend to get too caught up in complacency, arrogance, or victimhood to feel the need to change. This means that rich people don't feel they need to be empathetic towards those that are not rich, and poor people don't feel like they're responsible at all for being poor; while they trade rationalizations between each other; so that rich people feel responsible for being rich and poor people feel more empathetic towards others who are also poor, and envious towards those that are rich.
The other points about merit and bad luck are spot on though, because even if they're characteristics of the rich, projected onto the poor as flaws, they're logical fallacies .. as I touched on; because there are multiple ways to reach the same outcome, and many of which are not deterministic. It's centered around the need to believe that success and failure cannot be random; also that everything in the world happens for a reason. When you have superstitions / religious beliefs that govern your life, it's impossible for them to not govern every part of it. It also makes for an excellent tool to use against your enemy, turning something that is entirely subjective into something that is objective. It's how law enforcement and courts figure out ways to apply blame to people they're after, and to release responsibility to those they are trying to protect by using it in reverse.
@@ToadstedCroaks "Being poor generally necessitates a way of thinking and doing business that is not entirely ethical or favorable for other people as well."
That's really not true though, as it's this thinking that results in the idea of "if you do everything right, you can't be poor so if you're poor, it's your fault), which is a misconception that is literally the whole point of the quote. Also, a lot of the "flaws" you mention tend to be more common among poor people because they're a result, in part or whole, of the stresses of poverty. The biggest problem though, is that not only do the rich call poverty a character flaw, they actively work to keep people in poverty. This in turn worsens poverty and hinders any efforts to resolve poverty issues because it's deemed a character flaw, an individual issue of personal personal responsibility, rather than a systemic issue. And the irony is that this concept isn't even new, as the elite has always painted the poor as lazy, unintelligent, and generally lesser people than them.
I really liked your comment ! Stigmatize those who let people die ,not those who struggle live . I will try to remember that ❤❤❤😊
Don't mean to be religious! but isn't there a statement about. It's easier for a camel to pass through the eye of a needle than a rich man to get to heaven ❤❤❤😊😊😊😊
Jon, again, you speak the truth. I wish you had an even larger platform.
he spins truth and omits lots of it. his platform is based on his popularity. He says nothing of substance in this other then his jokes that interrupt his guests.
I am sure this comment will get deleted though because whenever i post on youtube it does.
@@wildcavemann you ever wonder if the reason people stop listening to you is simply because you're an idiot that nobody wants to listen to, and you're telling yourself you're a victim because that's the only way for you to avoid acknowledging its actually your fault everyone avoids you? (FYI - if I don't reply to you, it isn't because youtube hid your reply... I'm sure I'll see it, I'm just going to ignore you because I can't imagine anything worth responding to coming out of you)
@@wildcavemann you've never followed this man's professional history - and it shows.
@@wildcavemannone month later your comment is still here.
I invite you to provide an example of your claim in this video, or literally any thing else that is searchable on the Internet.
@@wildcavemannMay I see an example please ?
For me, it's one of those things where the rank and file employees at a company are yelled at, held to the fire to "increase productivity" and their every failure is treated as a knife at the throat at the business. Meanwhile, the CEOs and upper management can literally run the company into the ground and not only get golden parachutes and get new high paying jobs somewhere when the company they ran crashes and burns, but may literally get paid straight cash out of the company's bankruptcy and liquidations. It's one of those things where you're on a two person bicycle, but the person steering isn't pedaling at all, and is hoping you'll pedal 300% faster to make up for how he's steered you both into a ditch.
This is happening right now where I work. New owners came in three years ago. Don't know the industry and didn't hire anyone to replace all the old management they got rid of to improve the bottom line. Now we're all looking down the barrel of a layoff.
Sort of the problem where I work too. We had a management change a few years ago. The new management doesn't manage. Our job lists are a mess every week and change constantly so we can't even prep for any of it and leads to 50+ of hours of downtime setting up presses. The new hires don't get trained properly. No one is held accountable for screw ups which leads to more screw ups. Excessive material gets ordered so we have no space for material we actually need. The owners don't really seem to care because they keep sticking the same couple million in their pockets every year without realizing they could have made even more if they'd step in and fix this
2015. Halliburton Ceo tries to buy Baker oil tools. It fails, costing Halliburton billions. Same year oil market crashes 30K + employees are laid off. The next year he (the CEO) receives millions in bonus and a golden parachute. The deal was shot down by the FCC and was a long shot at best to merge the #2 & 3 world's largest oil field service companies.
There really should be a law that when a business is filing for bankruptcy that not only is their a limit that anyone that earns a wage at a company is given in severance, but that all employees are given equal severance pay.
@@seandobbins2231 I like the idea of CEO's not taking 95% of the company's value when it goes bankrupt, but I would be pretty depressed if I put in 20 years at a company, only to get the same severance pay as a kid who's been there for less than 6 months.
Torches and pitchforks, the capital owners in this country sleep too well.
Facts 💯 based on current conditions
✊
Definitely France knows how to do this. I guess we are too soft here in the US.
apathy and bought thugs are in our way.
You don't need torches and pitch forks. They have planned for that. They love any excuse to visit violence on the masses. We have to realize, they aren't worth what we pay them. They are utterly powerless with out us. Stop serving them, stop taking their money, isolate them, ignore them, don't vote for them, don't buy their products when you can, resist them literally every waking moment of their existence.
Both in the US and the UK, we've internalised the mantra that it's always the working majority that have to tighten their belts. As things start to bite for us, we are seeing rising fortunes of millionaires and record profits for corporations. If that doesn't make crystal clear that we need to start redistributing wealth, I don't know what else can be said.
wow that's grossly un-american and thankfully will never happen here
@@paulaitix77 I can’t tell if you’re crazy or funny 😂
@Paula Itix I'm guessing you're talking about the wealth redistribution part. Don't be afraid it's not something where people just take all of the money. We just need billionaires and the like to be truly patriotic and pay fair taxes. You know? Give back to the country (the working class) who Give them so much DAILY.
@@paulaitix77 because you like getting shafted every year, right? Every time corporate gives you that 4% cola raise at the end of the year while knowing that real inflation is at 8% plus, you just got a pay cut. One that you’re apparently happy about.
@@astonprice-lockhart7261 joe biden and democrats removed the tax hikes and policy that would affect their billionaire donors from the inflation reduction act last minute because not all democrats would vote for it haha so joe biden's "tax the rich" was yet another lie. billionaires are given incentives when they risk their money to create jobs that then pay taxes, duh. you can do that too, ya know. and corporate tax cuts did create jobs and increase productivity and bring jobs back to america, because they will always get their share even at the expense of workers and will simply automate and ship jobs overseas as history proves
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
I truly enjoy having a portfolio coach to help me make market judgments on a daily basis. They possess a special combination of abilities that enable them to take both long and short positions, benefiting from the possibility of significant gains while also safeguarding against downward turns. I have had a portfolio coach for more than two years, and throughout that time I've actually earned over $645k. It was a wonderful experience!
@@hunter-bourke21 I find this intriguing. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.
Sure, the financial advisor that guides me is "Camille Alicia Garcia". She's renowned and has quite a following. So it shouldn't be a hassle finding her, Just look her up.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I have sent her an email and arranged a phone call.
Stuart using his position to make people think and maybe help people. Its admirable!
Raising the bonuses and wages for the top and then "we can't afford to raise the wages for the workers cause the economy is bad/we aren't making as much anymore" Well....if you lowered the bonuses and removed 90% of the top wages....you could easilly afford a small raise for the workers. Yes economists will say this will cause problems due to money actually being spent, the top earners don't spend money and nothing "trickles down" which makes is so that the inflation doesn't go up.
FACTS 💯
lol.... I get where you're coming from, but we should also remember that companies generally don't like paying high wages to anyone. The reason CEOs are so highly paid is because companies have to compete for the best executives.
That is why you'll often see some executives actively avoid working for the government or smaller banks, even when promised very good pay.
@@rickmorty7284 nope there's actually a free-flowing two-way pipeline from Bank executives to future policy-makers (appointed positions, usually not elected) & vice versa.
But inflation DOES go up when you give the rich too much money -- inflation in the things rich people spend that money on: Real estate, property, stocks, capital assets..... yachts.
There has been such a massive inflation in housing over the past 40 years that middle classes can't afford to buy a home anymore. That is entirely due to supply side economics. You want affordable housing again? The rich must have less money. That's the only thing that will drive housing prices down.
@@Ishkur23 Just have more government subsidized housing like the Soviets use to. That's it. Those prefabricated flats are still standing to this day. 🤷♂
You don't need to tax everyone to oblivion or 'abolish billionaires'. Most 'wealthy' nowadays are stock rich, so any politician that tries to convince you that you can tax them at 70% on their highly volatile stock, without violating the constitution, is likely just manipulating your anger for their own gains. 😂😂
My parents were a 'traditional' working dad/housewife couple. He typically worked 9-5 Mon-Friday and his single salary was enough to buy a home, car, TV and the other household essentials. And when I say buy a car, I mean just that. He'd own a car rather than 'rent' it from a leasing company. We'd go on one holiday over the summers and all this was without the aid of any credit cards. I think that the mortgage was the only credit he took advantage of. Mum at most had a few stints as an 'Avon' lady, and that was it.
My generation though are a different story altogether. My wife works full time. I have my own business and it's not unusual for me to work 7 days a week with perhaps a day off every fortnight. Yet even with a combined income, and working ourselves to the grave, it just feels like a never ending swim against the tide. Surely having two incomes should have meant a massive jump in wealth for households over the years.
Yet I definitely feel poorer than my parents did, and it looks as though our children will be even poorer still.
It all feels like trickle up economics.
You’ve described capitalism. Your parents were better off because they lived in the new deal era where the profit motive of the capitalist class was constrained from the middle of the political spectrum so more of the surplus produced by workers went to the working class. But it can’t hold long term because the fundamental power dynamic of capitalism was left in place. Which is why those constraints have been rolled back this last 40 years.
It could be improved upon by removing that capitalist class altogether and democratising the economy. That will make fundamental permanent change and create an actual democracy where no minority can rule.
If you think you can remove the capitalists then you don’t understand capitalism. Capitalists include people who take risks by investing their savings in business ventures. Would you like to erase that? How would you prevent individuals from starting businesses and profiting from business and hiring employees to work for them? We could do this as a society but it would be extremely different and would risk our society’s power to beat challenges with private business.
@@evanshlom1 Yea, because they use that “risk” as an excuse to abuse people who don’t take that “risk” - when the reality of their risk was they only risked being a worker like us. 9 out of 10 businesses fail because an outsized number of those businesses are sole proprietorships with no capital attempting to chase a dream that isn’t possible because capitalism requires capital and if you don’t know that you cant get anywhere playing that game.
Boot straps are such a tiny minority of people and they are not “major players” at all with their main contribution to humanity being candles, jewelry and mediocre pillows. Nothing important - while all the major industries where built with massive government sponsorship and massive capital investment.
For example - the capital investment in the schools that TEACH the next generation of business leaders and the safe environments built and paid for by millions to ensure they can focus on their skills and passion.
we all invested, we all risked, we all suffer because some people feel entitled to exploit others for the hard work and sacrifice of all of us, from the preachers to the brick layers - you have been invested in by ALL OF US.
Let Jesus in and spread wealth and prosperity so that all may seek their fortune and contribute the most they can. Not free yahts, not unlimited drugs - guarantee liberty, shelter, food, water and air - those are gods gift to all of us and it is satanic to command any price for it.
@@evanshlom1 modern day capitalism isn’t like that.
Problem is that the economy has adjusted to demand two working wages. A short sighted person could blame feminism for creating this new revenue market for the economy to exploit, but I hope people reading this are smarter than that.
It's not inflation it's price gouging.
One major factor was left out is that we are seeing global inflation. I saw it in the news that most countries are all competing for parts , products food etc. Even nations that managed their rates better are seeing major issues. The glut of money was an issue sure, but the surging demand from nation that re-opened from covid lockdowns played a larger role. Add to this pandemic-related staffing issues and the intentional global oil supply problems and its a nightmare. I known the intention was to explain inflation but that doesn't do justice to the current inflation on a global scale.
People are really working hard and there is little or nothing to show for it. everybody is basically working to sort out one bill or the other no savings.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire..
John Desmond Heppolette, really seem to know this stuff. I found his web-page when I made a google search of his full names, read through his resume, educational background, qualifications and it was really impressive. I left him a note and booked a call session with him..
Inflation can be scary times, but also are a great opportunity for people to grow their wealth, learn new skills, and increase their value in the financial market..
Corporations are greedy in other countries, too?
The “Horatio Alger story” was ALWAYS mythology, meant to keep a permanent underclass in place. It has ALWAYS been rare and incredibly difficult to “pull oneself out of poverty.” Jon is right, as usual. It has ALWAYS been true that a permanent underclass is necessary for American capitalism to function in favor of the upper layers.
For every Oprah, there are 50 million who never moved beyond their initial starting point.
The mythology was closer to being a reality for people who considered themselves "regular folks" (read, "white men") because there was the permanent underclass of both slaves and women that was both explicitly and implicitly supported by law and culture. The myth never applied to "them", so it had some basis in reality for "us". Racial and gender barriers still exist, of course, but there's at least a sense among most people that non-whites and women are people, and can be included - on some level - as "us". As more and more of the permanent underclass became "us", the myth first lost its attachment to reality (no matter how tenuous) and in recent years is being seen as not even worthy of mythology.
It's taken a long time, but it appears the Karl Marx class struggle may finally be taking hold in America in a meaningful way.
Oh, and for disclosure and perspective, I'm Canadian.
This is true of all capitalism. It requires disenfranchised impoverished masses to function
@@ErikratKhandnalie i dont believe that's true, nordic model plus FDR & Truman prove that wrong sooo 🤷🏻♂️.. u just need regulated capitalism
Fun fact, _pull yourself up by your bootstraps_ started as an idiom for an *impossible* task. 😉
I love how people act like inflation just appears from the sky as soon as a threshold is passed instead of a person on the ground is making a decision to raise pricing.
You mean a few people in ivory towers? We, also, act like Congress can't make a single policy that helps working class and sets limits on pricing. We act like we have no police, military, or justice system to enforce laws that might effect a few rich people.
@@johnbrooke6867we have no say in congress. You and I don’t fund campaigns. Why would the government ever pass a law to their own detriment?
No government is born innocent, nor will it die innocent.
But:
There is always the official opposition, pointing the stained finger at the government, as being responsible for price hikes.
But:
Obviously it is business using an opportunity to generate extra profits. It is clearly discernable, but declared to be the present governments fault.
I mean, people DO assign blame for inflation. The problem is they assign to the wrong people. Why is gas so expensive? Something something Biden. Why is rent so high? Something something government. Why can’t people buy groceries? Well the liberal media dot dot dot. The answer to all these questions is, of course, so someone else could make more money.
And if this seems like it’s biased, that’s because it is. I admit I’m painting in broad strokes here but I’ve never seen liberals blaming Trump for higher gas prices as if the president personally dictates the number at the pump, or the price of groceries, or medicine, or housing. Liberals blame the rich people controlling these industries, conservatives blame the left just like they do with everything else. Because it’s easier to be able to blame a singular enemy, or a group of enemies, for all their problems than to acknowledge that the system they aggressively and often violently defend is what is ruining their lives.
@@johnbrooke6867 You can't draw a distinction between "people in ivory towers" (the privileged few) and Congress. Members of Congress ARE people in ivory towers. They govern for their self interest or their likelihood to be re-elected and maintain power, not in the interests of their constituents any further than is required to get enough votes.
Despicable is an understatement
not sure there used to be all that many folks going from being dirt poor to being in the top 1% in the old days, it happened, but it was extremely rare. maybe not as bad as it is today, but it never been all that great at any time in the past
That's not true the roaring 20's was very much like this... Then came a great depression and a world war (both had the same name as the description I guess people weren't very creative).
We've adopted policies to kick-the-can-down-the-road but we seem to very much be in the same place as the 20s.
My grandmother was born on the kitchen table in a dirt floor shack in 1919. She went on to become an inspector at Ford Mo Co. She was UAW and bled red white and blue. Before Ford she worked in a munitions factory and made parts for the bombs dropped on Japan. She retired in 1985 with a full pension and half a million dollars in the bank. She owned 3 homes. She paid cash to have her dream home build in Florida. She had a 3rd grade education. She lived the American dream. Success stories like don't happen any more and if they do it's rare.
The Silent Generation worked themselves to the bone to give their Boomer children a better life. Once the Boomers got that cushy life they panicked that Gen X was going to take the comfort and security that they felt entitled to away from them with the rapid advances in technology that they didn't understand and pulled up all the ladders that they could behind them, torpedoing their ability to affect any positive change in society going forward and making us slide into apathy. Millennials started to try and push back, but so far the greatest revenge of Gen X is our children Gen Z coming of age and not accepting this BS anymore.
Or it could of been that your grandmother's case was rare too and the only reason you know of it is because she was your grandmother
You can blame one who is responsible for it the government.
@@Evilryu808 It used to be much more common. But now companies like Google don't hire janitors or chefs or baristas. They outsource that to companies who supply those jobs. So instead of learning how computers work while making coffee, you're making coffee for a career. You used to be able to start as a janitor and work your way up to VP. Now you start as a janitor and stay a janitor forever, because the company you're working for only supplies janitors to those who need them.
@@darrennew8211 that's becuase america has become a service industry.
We need more of THIS! Jon calling out the privileged class and their shenanigans on a Daily basis. He is the journalist of this generation! 💜✊
He IS the privileged class. The man makes $2 million a month, and is worth $120 million. All of which he's keeping. Which he's paid by Apple, which is the single wealthiest, most powerful business enterprise in the history of humanity -- seriously. It's worth $2.7 trillion. TRILLION. Tim Cook, the CEO, of Apple, is worth $1.5 billion. These are the people who pay him -- there is no purer capitalist anywhere, ever. For which he gets on television with a bunch of lefty pundits, acts as if he cares, and then goes home and counts his money. He's a complete fraud. He would drown infants on camera if they paid him enough.
@@leobigelow7021 💯 agree
bro jon stewart the biggest clown lol
@@cq5857I always hear people dropping comments like this and then shrinking into the ether without any kind of reason or classification/context.
When context is requested, all I ever see is anecdotal bullshit about him not caring about the things he says he cares about… followed by a deluge of all of the help, aide, attention, and assistance he has brought to any particular matter.
Pound for pound, put Stewart up against literally any politician or pundit today, and his track record is unyielding and unflinching.
If that’s what makes a clown, then I’d like to see what kind of language you use on the straight up tyrants and treasonous sacks of assholes that I wouldn’t be surprised to find are your preferred political barometers 🤷🏻♂️🙄
@@wokeupinapanic BRAVO!!!
Agreed, and thank you.
I vacillate between ignoring them, blocking/muting them when/where I can, answering them like you have here or taking my frustrations out on them for making the world a slightly worse place for all of us IMHO. Sadly, I still don't know which works best for me or the internet.
With a rate decision coming off fresh inflation data that showed an uptick in prices for the second month in a row. As well, the automakers strike, yet my portfolio of $400K keeps dwindling. How do I take advantage of the market to save my declining portfolio
Hire a financial advisor is the first step. But in my opinion if you're a long term investor, you can just go with the s an p 500 since the stock market increases on average of 10% year on year. The video mentions that too.
That’s true, Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks
Credits to *Sharon Louise Count* one of the best portfolio manager;s out there. she;s well known, you should look her up
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Since Horatio Alger died more than sixty years before Jon was born, he makes an excellent point.
"Where the stork drops you matters." Well said.
Not to speak that you already are part of 1% world wide no matter where you are born in USA.
Price's of normal survival have almost tripled in the last few years alone, yet pay has stayed the same. These people are so disconnected from reality.
Corporate politics getting worse and worse. Thanks for the video.
Yeah
I've been screaming it for years... "your boss wouldn't pay you a single penny, if he could get away with it."
Exactly. The bias against workers is baked into our terminology. Another example: think of all the companies where workers are put in horrifying conditions, underpaid, not given sick leave, etc. and (in part because of that) their stock does phenomenally well. Why is that never referred to as “wealth redistribution” - from workers to shareholders?
Because they aren't sticking and gun in your face, taking your shit, and handing it to someone else.
cause it dont work like that
Because there's no wealth being redistributed. The workers are not providing wealth, they're providing labor which creates wealth. If workers had wealth they wouldn't accept those working conditions.
For a business to profit you need people to exploit. The harder you exploit the more you can avoid doing any real work and of course profits. Think about people being sent home bc it's a slow day ( and seen as not worth paying them) yet when it's fast/busy/slammed you are NEVER sent home for producing far more than your wage. Again it's about exploitation and taking far more than you need.
Look at McDonalds hiring children workers and not paying/working passed 2am etc, and they are facing a fine less than 1 day of operating. This system is a joke.
@@gorkyd7912 exactly.
The way these mega rich stay off the radar is to blame the little guy for everything. Maybe if these CEO’s didn’t try to take advantage of these circumstances and inflate prices inflation wouldn’t be this bad!!
Biden INTENTIONALLY cutting Crude Oil Production is more than 50% of Inflation the rest was Democrats Intentional Inflationary Policies & Spending 💰. Republicans WARNED Democrats this would happen & it's why NOT ONE SINGLE Republican voted for the American Rescue Plan.
Do you think inflation originates from the whims of corporations? Read Milton Friedman if you truly want to understand where inflation comes from. Spoiler: it’s the government with the help of the Federal Reserve.
Thank you John Stewart for your honest independent opinions , you are on the side of the people and not corporation.
Minimum wages double in 40 years, housing prices and stock market doubles in a a few years, along with CE0 salaries and corporate profits.
I can’t get enough Jon Stewart.
Same!
Mabe you should, because he is full of shit.
Poor people are always blamed when the economy has problems.
2008 - poor people were blamed for taking out bad mortgages rather than the banks.
Now rather than blame corporations for profiteering during supply issues (COVID, Ukraine etc.), it's the poor for wanting a better wage to face those price hikes.
They blamed teachers unions too.
Yeah, no one has ever blamed the rich before Jon. Thank goodness for him
@@androkguz The difference is that the rich never face consequences for it, so they have zero incentive to stop. And until they DO face consequences, they never will.
@@ecyor0 100% agreed.
Yet they'll gladly use our tax money to pay off the financial sector's gambling debts.
Mr. Burns talking about the economy? Exxxxcellent!!
I've been saying for years the entire purpose of the treasury department is to ensure the necessity of employment. They don't care about the well-being of the people. I believe that they should have a responsibility to care about the well-being of the people.
The quality of life is now under question I believe
This is why I'll never work for a giant company. Public service is where it's at. I'll never get rich but I enjoy serving the great people of my State.
As working class , we will never be given a fair slice . We will always have to fight for our piece . It's time to put down the signs and pick up some sticks and stones .
Yep.
March on Washington like the January 6th jackasses.
start with the politicians. they mention cooperate profits but dont mention wage increases of politicans while our wages go down, atleast corporations create jobs as greedy as they are. government just takes tax dollars and fills its own pockets while giving us peanuts. look at the salary of a politican and the average salary of people in the country. and these politicians are suppose to represent us?
You’re not even allowed to have the sign anymore. Corporations and the Repugnicans have convinced the feeble minded that unions are bad for them. Fools.
If Covid lies and destroying lives didn't do it, I don't know what will.
Greed. It’s so extreme, people are drawn to it despite how it negatively affects them later on.
Jon Stewart is a king warrior for the little people, non-wealthy citizens. I love him. ❤️
My employer literally sighed about inflationary pressures but then boasted about how we raised our prices per kg by $1 this year.
Imagine that companies raising prices because the cost to make and transport goods is more expensive. Sounds like greed to me. Looks like we are just going to need a war to get out this one.
Minimum wage is $7.25 here in Tennessee. The average 1 bedroom apartment is $1,800 a month.
Ouch.
You're better off being homeless these days. Unbelievable how anyone thinks this current state of America is sustainable.
Then they say, “Just go buy a house instead of throwing money away… back in my day we did it no problem! You kids nowadays are just bad with money!”
However, they fail to realize that 20% of a 120K (median price) home “back in the day” (year 2000) was $24K (0.57x of one years wage- median income in 2000 was around $42K).
Whereas now, a median house is $360K (20%= $72K, aka almost 1.3x the current median salary of $56K).
Are some people bad with money? Yes! Are a lot of people just upset that they can barely afford to live and pissed off that everyone is calling them idiots for it? Also Yes!
Oh and none of those numbers take into account higher cost of living, inflation, increased rent, food, etc…
These numbers were quick google searches, so I apologize if any of them are incorrect.
There is not a single place on earth where you can afford to live on a single low wage income. Nuclear family is the way to go.
@@RealShaktimaan Using the Tennessee minimum wage ($7.25) as an example, if you had 2 full time incomes (40hours/week x 52 weeks ≈ $15.1K x 2 people, you end up with ≈$30K/year.
Let’s say both of those 2 get a massive raise and double their incomes ($14.50/hour) so we get 2x $30K ≈ $60K/year (just barely over the current median salary from 2 people making double minimum wage).
I’m not advocating for raising minimum wage, because that causes its own issues: such as places just charging more to offset costs, existing employees who’ve worked their way to higher wages getting the short end of the stick, etc. But, the fact remains that housing is currently too damn expensive.
Want to actually improve the economy? Free up some of the money that families are forced to use on just providing a roof over their head and they will be able to spend it on other things.
Using my previous example: the median family in 2000 had ≈ $1.1K/month payment (that’s with a high interest rate of ≈8.% and assuming 20% down on a $120K home), which comes out to ≈31% of median yearly income.
Using today’s numbers: ($360K median house, with a LOW interest of 5% and 20% down, you end up with a payment of ≈$2K/month. Which is ≈43% of a current median yearly income.
Oh and by the way, minimum wage at the time was $5.15/hour in Tennessee (≈$10.7K/year for full time).
In summary, over the past 23 years:
-Minimum wage (Tennessee) has gone up ≈40%
-Median Salary has gone up ≈33%
-Median house cost has gone up ≈300%
One of those numbers is definitively a lot bigger than the other two…
This peculiar situation goes back centuries.
People struggling despite working full time: Pay your workers more!
Major company: we can’t afford to; we’d have to jack our prices/fees up to compensate for the added labor expense 🥺
Same major company: we made over $1,000,000,000 in profits last year according to our own website!
Smaller franchise: we can’t afford to pay more than $10/hr in Idaho… though congratulations team on doing more than $2,000,000 in sales at your specific store last year! (Meanwhile those same companies with higher wage requirements and MUCH higher space rent still run the same or at least close to the same promotions and are still financially viable)
---
My favorite has to be the claim that paying 15 people at each store an extra $3-$5/hour will cause prices to jump significantly… yet the prices have gone up over time anyway despite no increase in wages
When the cash that companies pay their employees is depreciating but interest rates are in the 3% range it's literally impossible to pay employees enough. Remember in 2015 they were fighting for a $15 minimum wage? Well now you can get $20/hr at McDonalds or Starbucks but that's still not enough because housing prices tripled. Just the way it works, if everything is bought with debt because interest is basically free than what's the point of earning a wage?
@@gorkyd7912 People with POVs like this clearly have never been responsible for a P&L in their entire lives, or else they would recognize how asinine these statements are - gotta communicate with these people like you're talking to a 6 year old; that's all they can grasp.
@@gorkyd7912 and the rise in housing costs is because vulture capitalists are buying the houses up as "investments" and jacking up the prices.
I'm retired. Work part-time. Took 5 years to find a respectful employers. Pay isn't great. My parents generation had a congress that raised the minimum wage every year. Greed kills. But soon the greedy will be killed by the angry.
The greedy have the military and private security, while they slowly but systematically are taking away gun rights for the rest of us.
The greedy will be just fine. The angry will simply change the channel.
They also didn’t have a Congress that doubled the money supply in two years
@@Marijuanifornia eventually they wont be able to afford to even watch the channel, what then? How do you quell the anger of millions of people who are more than young enough and more than angry enough to actually enact change. Try changing THAT channel.
@@eric4369 Young people aren't going to do anything except continue shopping and complain about everything, just like every generation since World War II.
Real systemic change is shown in the 1942 USDA video, *Hemp for Victory,* but young and old people alike are too busy complaining about TikTok and drag book bans. This is a country devoid of higher purpose, so it eats itself for profit. No one is going to change anything. If they actually wanted to change anything, *Hemp for Victory* would have gone viral decades ago.
"We told them the wealth would trickle down! 😆🤣😆🤣"
We all know what the real problem is: any extra dollar in a millionaire's pocket is one less dollar in a worker's pocket. They have enough money. They're just being greedy.
I'm in my 70's and I have noticed a pattern all my life. When capital is making increased profits, there is not inflation. When workers are advancing and getting higher income, inflation appears. How does that work? The ones that don't work get richer and the workers poorer.
It’s because inflation is a made up term to explain people overcharging. Food prices are supposed to be risingbecause of the supply being low, right? Well, unless there are brushfires the size of Kansas, or serious droughy in most of the US, food shortage is an impossibility. Look at what’s happening in Argentina. Inflation at 100 %? Could it have to do with corruption? Those in power say no. But if so-called inflation reached 100 % in the US no one would take it sitting down, because we have been accustomef to at least some measure of accountability. But it seems to be disappearing, and surprise, surprise, inflation is on the rise.
@@JeansiByxan yeah, what you said, in a nutshell.
@@JeansiByxan They'd rather burn the extra food than let prices fall. It's disgusting.
Except this particular decade they have figured out how to raise inflation while lowering wages for the working poor.
So we are doubly screwed.
And they are making quadruple the shareholder returns.
The rich can't do with less but they expect the rest of us to. If their profits are up, then that is good. If we get higher wages, then that comes out of their profits.
The single biggest problem is people writing policy don't know what it's like to work for an hourly wage
Yup. And serving the interests of capital (donor class) before the public they are supposed to "represent".
That's not the biggest problem.
Our politicians are presented with a very simple choice: you can have work or solidarity exist, or you can have poverty, but you cannot have both.
The truth of our political values lies in the risks we refuse to take, and it is rising worker power, not continued poverty, that our politicians treat as the risk that they refuse to allow.
I'm thinking they do remember working for a crappy hourly wage and somewhere along the line resolved not to go back to it, but didn't mind subjecting others to it.
@@pamelacass9642 Very few of the current GOP grew up living paycheck to paycheck. Its how they got to where they are in the first place. You think the republican party is going to prop up someone who doesn't already have corporate ties ? Nah. The only anomaly I can recall is Boebert. But then again she is just Ted Cruz's muppet and her lack of qualifications is staggering. To the point of embarrassment. She will only cement the idea that they need to stay within their "fraternity" in the future. Guys like Tim Scott and Clarence Thomas are nothing but opportunists . They know where the flow of corporate dark money is being funneled and they want their slice. By all means necessary.
John Stewart you are a national treasure. Stewart 2024 ✊🏼
Can I just say....I am thrilled that Jon Stewart brought back the magic!
Imagine if you had no idea this was a tv show and instead thought it was a meeting of our president and his cabinet, talking with, listening to, and learning from his team...
Imagine if we had this kind of competence and solution-seeking in Washington.
Than we would be fucked.
We did from 2017-2021
@@nikgarcia2823 AHAHAHAHAHAHHAAAAAAHHAHAHAAAAAA
@@Jalgorn Hence the Trump Booming 🚀💥✨💫⭐🌟 Economy with only 1.4% Inflation for the last 7 months straight of his Administration all while Real Wages were Rising & most importantly, more & more people could afford to EAT, not that you OR Communist Democrats care because since then Now we have a SLOWING Economy, nearly 5% Inflation down from a peek 9.1% the highest since 1947 & tied with 70$ inflation both also caused by Democrats, Biden's Ridiculous Food & Gas Price Hikes while Real Wages have Declined for 27 Months Straight & Counting, but then again, Destroying The American Dream of Less Fortunate Americans is exactly what Democrats have been doing for well over 200 years & counting. Democrats don't think you're smart enough to figure this out, are you? Prove them wrong, do your OWN Research, Think for YOURSELF & Together WE Will Make America Great Again, Again. See you around kiddo ❤️
@@Shawnee_Rose Yeap, Crooked Joe & the Democrats inherited an Economy Growing at 6.3% in the 1st quarter & 7% in the 2nd quarter of 2021, with inflation @ just under 1.4% for the last 7 months straight of Trump's Booming 💥 Economy & Gas under $2.00 yet Biden took all the credit. But we now know it was all a lie because NOW Gas is 50% higher, 2nd Quarter GDP is an anemic 2.1% Inflation is around 5% down from 9.1% that Democrats Intentional Inflationary Policies & Spending caused & the result is Ridiculous Food Price Hikes that has DEVASTATED the less fortunate who thanks to Far Left Authoritarian Regressive Semi-Fascist Communist Democrats Klan have little or NO Food to put on the table. It's Shameful, Pathetic & fits my definition of Cruel & Unusual Punishment therefore Unconstitutional. CAPISH?
This how you know the system is geared toward extraction rather then wealth production
The system created more wealth than any other system in world history. But extinction is always one choice away.
I am a big fan of this man's comedic talent, personality and sensitivity. I especially admire that in a world so cruel, he still loves people so much and fights at personal cost for what he believes in. And it's mainly the last thing that makes it important to see him return to television or do a podcast.
He's a millionaire socialist who made all his money from profits.
Thanks for truth Jon!!
As a black person watching this, when Jon asks the simple question "Is a permanent underclass necessary for American capitalism?" And then the HAVARD guy responds with, "it didn't use to be," it was in that moment I realized that the problem facing black folks is worse than advertised. We may need some other options...
excellent comment. Certainly white America suddenly pretending they were previously unaware of systemic racism and mounting an PR activist movement basically akin to "thoughts and prayers" isn't gonna change anything.
It's like they refuse to acknowledge the fact that this nation was built on the backs of slavery and racism. We're okay with pointing that out with ancient Egypt, since they're heretical pagans, but don't anybody even DARE say that the Puritans are no better.
No religion is better than the other, based on my observation as a born-and-raised secularist.
Exactly. The US has never been without a permanent underclass
As a white person, I see why you choose to say "as a black person".
Blacks are indeed at the bottom, with many others that stair step up to "middle class".
The only problem is the government being ok with it.
This was the exact moment for me as well. They're completely oblivious to this fact.
Jon Stewart for President!!! He understands the working class and middle class Americans.
Perfectly said as always❤❤
In my lifetime, there has been more than enough money circulated, that no human in the world should be hungry, everyone could have a good education, and for everyone to live a good, comfortable standard of life. If humans were aiming towards this, it was definitely possible. Money has been hoarded by very few humans to the detriment of everyone.
If you took just Elon Musk's money ($189.2B) and split it evenly among the entire US population (331.9M), we'd each get slightly more than a half million dollars.
EDIT: $500, not $500K
@@greybeard5123 let's take their money I could use a half million and does anyone believe the the world would end if we took most of the wealth from the 1000 or more wealthiest americans I think the economy would explode with all the new wealth for the middle class and poorest americans
@@greybeard5123 wow commies really can't do math. Assuming after we liquidate all of Musk's assets and are able to sell it for the current valuation, he's not sitting on 187 billion in cash, everyone would get $567 not half a million. And that would require destroying every business he owns, destroying tens of thousands of jobs, and killing the leading manufacturer of EVs in the country.
@@brorpaulhjelm6187 that's not how numbers work. You'd get $567, and that's assuming we could actually get 187 billion for them considering no one's going to buy them because they figure you'll just turn around and do the same to them, and all the companies he owns would be destroyed
@@somethingsomething8511 why do you think the world would end if we took back all the wealth the 1000 wealthiest Americans have is the world going to end when Elon Musk or any other billionaire passes from this mortal world of course not and Elon Musk and all the rest of the ultra wealthy are dependent on all of the working class not the other way around many of us including myself have already learned how to exist with little to nothing
When asked what would he do if he is stuck working at the counter at McDonalds, W Buffet said: I would join a union. Working class without leverage is everyones favorite punching bag.
I recently received, by mistake, an email from my company's HR that listed the current wage for new hires. It was $2 /hr LESS than when I started with the company 10 years ago. Shameful.
Nobody is forced to work at your company. They have choices.
... "is a permanent underclass a necessity for capitalism? "... whoa!!
Capitalism has always been underpinned by the principle of "Dog eat dog".
And black people….or the Irish….
@@scottl9660 weve never not had black people. or the irish.
The answer to that question is very obviously yes. 'Capitalism' is to capitalize at the expense of others, and it was propped up by the idea that if you 'just work hard enough, you'll be successful'. The reality is you can't control a population of people who are all financially comfortable, having an underclass breeds division amongst people and allows Governments and owners of capital to exploit. 'They' just will never admit that the system works as intended.
If you have more purchasing power, you can own the coffee machine and charge clients who wants coffee. Then, if you want to make profit without working, you have to charge your clients more then what it costs to pay the barista. So your workers end up paying the means of productions through hard labor and your clients are paying more then the should.
I wish Jon would press them more on "why wage inflation and not profit inflation?". Not enough has been said about high prices being driven by the simple greed of monopolies and oligopolies.
You can also add that’s just the basic dynamic of capitalism. The desire of the capitalist class to maintain profits and pass the burden to the worker class. And given the capitalist class own the information and political system, that’s why profits rather than wages being the driver of inflation is never mentioned and wages is always blamed.
@@jgmediting7770 Capitalism is about the separation from government power. So when you say "corporations own/use the government" it's literally in direct odds with what capitalists actually believe & advocate for. It's government that protects the largest corporations & causes the vast majority of monopiles to form.
Example: Who stops you from buying medication from other places in the world at FAR lower prices with laws & regulations? The government. Without government protection big pharma wouldn't be able to monopolize drugs as they do now, and would be forced to lower prices. Giving people the freedom to buy their medicine where they choose would be an example of capitalism, taking that freedom of choice away from the individual goes against capitalism.
Wtf are you talking about? Name one monopoly.
@@Al-xq4ec not necessarily a monopoly, but there’s lots of market power in lots of areas. A lot of the inflation is due to this.
@@jgmediting7770 no inflation is entirely caused by growth of money supply. And who prints the money?
Preach on Brother Stewart.
I get told ho lucky I am all the time and I have to admit I'm in a decent place. But I never thought when I was in my early 20's that a house hold income of around $140k a year in a place that use to have one of the lowest cost of living would find me struggling week to week. The other day I over drew my account for the first time in 17 years. Im making more and more than I ever have but no matter what I cant keep up with inflation. If I wouldnt have bought a house when I did I literally would have have 1 choice. To pick up my bags and move to another cheaper state to live.
2 years ago $80 a week would pay me and my wifes groceries no problem. Now $140 a week and I have to sacrifice by simply living on ramen noodles or protein shakes for lunch to cut the cost down. Gas is more than double and my job has moved me from working 5 minutes away from my store to 30. What win is there for the middle class?
By picking up and moving to another state, you'd be giving up your job too, right? It's funny how they trap you into accepting these costs of living, or else give up the earnings that you make there.
And by funny, I mean extremely depressing.
I like ‘Greedflation’ as the term for our times rn
I like goverflation as it accurately describes the source of the problem.
A rising tide lifts all ships - IF those ships are above water. If they're below, then it just moves the waterline away from them.
Wrong metaphorical body of water. The economy is like controlling water rights for the Colorado River... and rich people need to water their grass and wash their cars in the desert before everyone else gets to drink... oh, and the corporations get to pollute that water before it flows to the rich and after to the poor.
You have to be able to buy the ship first......we live in a caste' system and not a democracy.
@@mad_cat_1st Probably posted from your iphone.
@@gorkyd7912 Nope. I've never owned anything from Apple. Make another assumption, OK? Maybe you'll get lucky and guess right? Doubt it.
@@mad_cat_1st Hence I used "probably" because I don't actually know and I know I don't know. Maybe you're in a library built by Andrew Carnegie using a computer that was donated by IBM. Either way, we don't live in a caste system.
Trickle down?
Try Trickle UP
The only ones that have it too well off are executives and shareholders. Cooperation's get all the discounts and/or can afford the higher interest rates. The working class will continue to get pushed down until something is done about cooperate greed.
I love how articulate and simply Jon always manages to break down these very complex economics ideas. The people love Jon
Even if he's completely full of shit?
@@jonfromsyracuse it pointless my friend. These people lack logic and reason.
@@Al-xq4ec wait until they find out how much he's worth.
@@Al-xq4ec - I bet you think Ben Shapiro is the pinnacle of "logic and reason" lmfao
"We have the best government money can buy." Mark Twain
Funny thing is that was BEFORE Citizens United was a thing. That didn't just add fuel to the fire, it added a nuclear warhead to the fire.
When Republicans say, “We are running government like a corporation”, they are saying they are putting government for sale at a price.
In North Korea, you don't need money
@@eyeseer1 The problem is that the Democrats are only slightly better. Same problem in the UK. Although as rapacious as they are the Tories would probably be viewed as left wing by the US establishment.
If you think any of these people are ever gonna stoop to help the likes of you, then you've already lost. You are your only ally.
good points
The days of doing well as an employee left long ago with staying 30yrs at one company. If you don't own the business, you're just being used.
I agree with you 100 percent.
Yes, corporations aren't loyal and now employees aren't loyal either. Why get a promotion when you can switch jobs and get a hiring bonus AND a promotion?
@@gorkyd7912 especially when the promotion doesn't come, but instead that higher position goes to a new hire.
No company loyalty anymore
@@scifirealism5943 no loyalty BY companies, you mean
The greed at the top of the business world is sinful. Trickle down never works because executives hoard profit.
there wouldnt be profit without spending from the bottom. guess its a trickle up economy. everything employees get paid they run out to walmart to spend it so it trickles back up
Excessive profits raise stock prices which increases EVERYONE who has a 401k. Average people.
I’m a younger millennial, and I’m coming to terms with the fact that I’ll never own a house, or pay off my debts. MY American dream is saving up enough of my meager income to eventually get out of here. Leave my debt behind and start over in a country with good healthcare, and job prospects.
Lindsay was spot on with her assessment.
I LOVE JON STEWART!!
We have to have an underclass so we can feel good about our selves 😅
as Carlin says "The poor are there just to scare the shit out of the middle class. Make them show up at their jobs"
I’ve always wondered this. If poor people and underprivileged people ceased to exist, what would come of all the organizations that try to end them?
@@lifevest1 if every worker in the USA had a decent paying job there'd be little need.
As it is We The People subsidize the Fortune 500 for paying such low wages that workers still need govt asistance.
THAT is the crime
@@lifevest1 "but the poor CEOs will starve without millions in bonuses!"
Nah
Also economic wise... but it also makes it easier for capital owners to negotiate worker wages... "Oh you don't think you are compensated enough? You don't want to be unemployed do you?"
It's possible to pull yourself up, as long as you start out with inherited wealth.
Thank you for addressing it, now how do we fix it?
I've never wanted to actually punch anyone so much in real life as I have when I watch economist talking heads say things like there needs to be some "pain" and "discomfort" in the economy to bring inflation down like it's going to be them or anyone in their economic class feeling that pain. They're just like, "Well, wages need to cool off, there needs to be higher unemployment, herp a derp" like they're not talking about PEOPLE who are already struggling. Meanwhile, companies have been very transparent in their earnings reports about how they're only raising prices because everyone is expecting prices to go up and they're raking in record profits that never make it down to the workers. Is anything done to address that? Nope. Only the screws tightened down harder on the lower and middle class workers until they can get a few more drops of blood out of those stones.
Economics is mostly a pseudoscience.
@@shawnh08 When did the government force anyone to raise prices? Though I agree there should be cuts in the military and the police, they waste too much money that could be used on things such as healthcare.
@@JoaoSantos-ur1gg Government forces higher prices by forcing lower value currency. If you think evil corporations just discovered greed in the last couple years, maybe you ought to re-evaluate where you're getting your information from
@@shawnh08 I don't live in the US, I live in a country with universal healthcare, so you're barking at the wrong tree. Either way, where is that "money supply"? In my country inflation reached 10% (20% on food) and I can't find that money supply anywhere.
@@shawnh08 You have a weird definition of "forced". If the government wants to transfer wealth from the poor to the rich they'll just lower taxes. Last time I checked, the government wasn't pointing guns at supermarket CEOs telling them to raise prices.
Politicians never have this discussion - to all our detriment.
They have it all the time. They're having it right now, Republicans want to cut spending as a requirement to raising the debt ceiling because they believe government over-spending is a cause of inflation. Democrats think that cutting spending right now while people are suffering from inflation will just make things worse for them and instead we should be raising more taxes.
Keep up the great work in the name of the forgotten 99%, Jon.
Run for President.
Let's also keep in mind that while the policies that caused this inflation may have helped the everyday person a little bit, it helped the well off even more. And let's also keep in mind that the nature of inflation is such that the last people to spend the new money (the poor) and the people initially already making the least (the poor again) are the ones most hurt when the dollars lose their value.
So I appreciate what Jon is saying, but I think it wouldn't hurt to point out that inflation itself, not just the "combating" of inflation, hurts the everyday person a lot.
Under trumps policies low income workers have improved situations for the first time in 50 years. This was from tariffs, keeping interest low, and limiting foreign work visas along with deportations. But all those gains are being wiped out by reverse policies. This isn't an opinion you can look up the numbers trumps policies did more for working people than 50 years of democrats or republican and the rich still did well but they are angry their slave er nanny got deported.
The only "trickle down" that working people are feeling is a golden shower.
If only--it feels more like spit to me
So-called trickle down economics, actually supply-side economics, as a national policy was only used to a limited extent maybe 3 times in the last 50 years; under Reagan, under Bush Jr, and under Trump. The rest of the time we've had a bunch of BS about how we can improve people's lives by increasing taxes on corporations which is really just a false dichotomy because most people get their money from corporations so it's just more taxes on themselves and most people DON'T get their money from the government so they're not getting it back. It is telling that it was 2019 under Trump when the buying power of our stagnant wages finally eclipsed their point in 1973 when Nixon nuked the system.
Reality is that both supply AND demand side economics have some merit as minor tweaks to the system, you never go 100% to one side or the other, and there's constant debate which way to tweak the system at any given point in history. But neither solution is going to help at all if we keep devaluing the currency itself because getting more money into the hands of workers is only helpful if they can save it without it being worthless in a few years.
Trickle down works if done correctly, JFK & Trump have both proven it to works. 🤔🤨😳😮🫢No wonder they got rid of JFK & now want to get rid of 45 & RFK Jr. May The Force be with US & illuminate the path to the Truth for ALL of US, ALWAYS
All the while they're telling you it's raining outside.
@@olddoggeleventy2718 Trickle down works if done correctly, JFK & Trump have both proven it works. 🤔🤨😳😮🫢 No wonder they got rid of JFK & now want to get rid of 45 & RFK Jr. May The Force be with US & illuminate the path to the Truth for ALL of US, ALWAYS
2:13 Ding, ding ding! Right on the money Jon. Pun intended.
Over the years the working class had learned that hard work does not pay off
Jon Stewart for President....spread the word. We need him.
He’s not running 2024 in 28 he is
We are returning to the middle ages where royalty ( the elite) had all the money and power and the surfs ( that's the rest of us) were there only to surve royalty. The more royalty wanted the worst off the surfs were. Today's elite should remember what happened. The surfs got fed up and revolted. In some countries like England deals were made to give the surfs more power and in other countries like France the elite lost their heads.
Returning? It's always been this way.
America was founded by rich land owning white men, who only allowed rich land owning white men to vote.
This is right, it’s an asset economy. The rich buy up assets, making them more expensive and out of reach. With each generation the assets of the rich get passed on and the poor find it harder to keep up. At some point it becomes untenable without a massive redistribution of wealth.
I agree, although I use the term "aristocracy" - monarchies are a different beast
Better do it now because every time some idiot says that all the rich assholes are just laughing at you.
We never left the middle ages. The names changed but the game is still the same. Slave owner/Aristocracy/"the rich" and slave/serf/"the poor", you have one set of people with all the control and another set that doesn't and a set of rules imposed by our society that make it so. Sure there is slightly more mobility now, but only slightly.
I'm so glad Jon has this show. That gap from daily show to the problem with Jon Stewart was a lonely time.
He should have stayed retired. We already have enough misinformation spreaders around.
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Jon Stewart for President!
Jon please run for President!
Being lower middle class and living in the U.S. during this is bleak to put it gently. I feel like an animal being gutted. Every 4 months it gets worse the idea of owning a home is so far gone and no-one is going to ever fix it
If you think being lower middle class is bad, just think of how all of us working stiffs at the bottom feel?
I live in a studio apartment. I donate my extra money to animal charities. I work in the union . Don't have a car. Take public transportation. I enjoy it. I don't need a fancy car or house
@@therock8288 Respectfully, you have a union job and enough money to rent a studio apartment. In major cities you'd have to be making more than $14/hr just to rent 300sqft of space. Minimum wages are catching up but with the rising cost of food and services, I'd hope you can understand how someone may be stressed out by the situation.
That doesn't even factor in potential debt, family responsibilities, or savings goals. To live comfortably making the minimum wage today you need at least one roommate and no prior debt.
@@claudioclini5380 The minimum wage is irrelevant. The only places I know that pay something close to minimum are waitressing and bartending jobs that get so many tips they easily out-earn most of the kitchen staff who are paid $20/hr. But every entry-level job I've ever seen is either paying around double the minimum wage. The entry-level jobs I worked as side hustles were in the $25 to $40/hour range.
Those decisions don't "tend to be better for capital" they always and almost exclusively are better for capital.
I wish people would stop calling this an inflation problem. It is a corporate problem where companies have exponentially raised the prices of EVERYTHING to an unreasonable amount. Corporations are having their best years ever. The stock market it great.
“trade-off between what’s good for capital and what’s goo for workers”
it’s almost as if Capital beggets the exploitation of the worker…
DAS KAPITAL
The problem with capitalism is that you eventually run out of people to exploit.
It's a false dichotomy. The workers buy the products created by the enterprises the benefit from capital. Everyone complains about how Amazon and Walmart treat their workers but then they go shopping at Amazon and Walmart for the convenience and low prices. So are you exploiting workers by buying the products? They chose the job voluntarily.
In Jon We Trust.
I do think the quality of jobs also has to increase. People are still working in mines deep underground when there are other people getting ten times the money for sitting in an office.
The difficulty is ignoring the public. Period.