This isn't inflation - It is 100% corporate greed

[kpete]

Link to tweet

?s=20&t=PbNzAiQH7vhOZHTYEqkgOQ

Link to tweet

?s=20&t=cTzGYrOYt14tt23J84cCdg

[LakeVermilion]

1. Let me also contribute...

The last month of volatility in the stock market is a pure shakeup to allow profit taking. I have a small account so its easy to watch. When the market hit 35,000 last fall I had a value of $135,000. When it reached 35,000 currently, my value was 128,000.

Same game, different venue.

[KPN]

6. Yep. The markets are well setup to shake down the little people.

Most small investors aren’t nimble enough to keep up with intra or even the inter-day volatility, especially the volatility and pace of volatility we’ve seen in the past few months. When you lose say 5%, it takes a gain of almost 5.3% to get back to even.

Big money pulls out and when the small investors get nervous and follow suit, big money buys back in — often all within a single trading day of late. Market regulations are designed for and by the big money interests.

There’s a reason behind the “Best government money can buy” here in America.

[PoindexterOglethorpe]

22. Small investors should not be trying to time the market.

Actually, no investors should be trying to time the market. Buy good stocks or funds, be diversified, and stay for the long haul.

[KPN]

51. That's dogmatic on a number of fronts as well as

unrealistic. The reason the markets are so volatile is investors large, medium and small do in fact move money in and out of the market. There’s a reason for the terms bears and bulls. There are legitimate reasons why small investors move in and out of the markets — capital preservation is a big one, lack of confidence in the markets especially in highly volatile, over-valued markets.

Nevertheless, my point was when the market goes down 5, 10 or 20 percent, it must recover by more than those amounts for one to break even. In a highly volatile market like we have today coupled with growing inflation, retirees dependent on retirement savings have plenty of reason to be concerned and do act on those concerns in response.

[PoindexterOglethorpe]

63. Oddly enough, by holding steady in this volatile market

I'm doing just fine. Buying and selling costs money for each transaction.

I also have that highly unpopular thing here, a financial advisor. He has done very well for me. Since that's what he does full time, he can pay attention to the market and to funds far better than I can. He moves me out of or into funds judiciously, and lets me know ahead of time whenever that is going to happen. It helps that I really have been in it for the long term, starting in about 1978. I am 73 years old, sufficiently comfortable, and take income from my investments every month.

Keep in mind that on average stocks go up two out of every three years. Over time, they gain. All those who sold everything when Trump was elected have missed out on a doubling of the Dow. Even that sharp drop in early 2020 -- the Dow recovered in about six months. So I'll stick with the buy and hold method.

[KPN]

64. Understood and appreciated. Also retired -- from feds so my savings went into the TSP where there's

limited options. Didn’t start saving till my wife went to work in about 93 when all 3 kids were in school full time so saved enough, but not a lot extra. My wife’s with Vanguard. Anyway, with my pension, her SS and about a 3% withdrawal annually, our lifestyle feels about even with when we were both working. But I must admit that the Covid crash panicked me and I pulled out late and waited too long to get back in so would have done a lot better just staying put.

Tried to find a financial adviser who fit us some years ago, but living in a relatively small and remote rural town didn’t find anyone we errr comfortable with trusting our finances with. While I sometimes regret not having looked in cities a ways away, our fees are almost non-existent for TSP and hard to beat Vanguard — so there’s that.

Another capital preservation impediment I have is wanting to leave our 3 children most of what we have — but that’s a personal and somewhat irrational problem. 😊

[PoindexterOglethorpe]

66. You might want to take a look at this:

https://www.calcxml.com/do/how-long-will-my-money-last

I often use it to make sure I'm not taking out too much from my investments. I also put in 6% growth, rather than the 8% it defaults to.

I also use it to estimate growth in the accounts I am not taking from, by making the monthly withdrawal $1.00. It's all quite reassuring.

I am able to periodically increase what I take out, and actually have a greater income than ever before, which is nice. I'm comfortable, have a fairly quiet life and I'm still able to do a certain amount of travel, which is important to me.

[KPN]

109. Thanks PO. I've used smilar calculators in the past. Did a lot of runs with different ROIs and

WD %'s in the 1st year or two after retiring. I'll take another look at it with current balances.

One of my biggest problem is I've been uneasy with the markets ever since Comery's Hillary torpedo just prior to the 2016 election. Tfg's years were so damned volatile due to his corrupt mouth alone, then the Feb 2020 Covid crash followed by the fallout today -- "inflation"/Fed tightening -- have only kept me uneasy. I'd been pretty much been a buy and holder until Comey.

The other is one of my goals is to leave our 3 kids a meaningful inheritance beyond our house/property. We have plenty to live in ourselves, but that goal feels threatened. And I've been relying on myself to make investment decisions which takes up a lot of time. Guess I should look into a financial advisor or moving my money to something like Charles Schwab or Vanguard and lining up a financial advisor through them. Do you have any insights or suggestions in this regard?

Thanks again for the info above.

Oh, and by the way ...

[dwayneb]

53. Depends on your age

Solid strategy for someone 20-60. After that it's not the "long haul" any more and your strategy should change.

[KPN]

65. Yeah, that's my thinking as well -- plus I tend to keep

no more than 30-50% of our retirement savings invested at any one time at 71. Making it last is my priority.

[PoindexterOglethorpe]

110. If interest rates were significantly higher,

that would make sense. The reality is, that over the long haul, stocks go up. Significantly. And now that inflation has reared its ugly head, a 2% or less return on bonds means you lose ground constantly. It won't last that way.

[DENVERPOPS]

108. Best government that money can buy

We are one millimeter away from a CORPORATE FASCIST TYRANNY.......and/or the UNITED CORPORATIONS OF AMERICA......

[True Blue American]

29. You are so right.

[Scrivener7]

2. Kick. I wish someone in the media was talking about this.

(Other than my man Reich, of course.)

[jimfields33]

4. Food is the problem

It starts at the beginning. Either farmers or processing plants. How can picking a tomato go from 50 cents to a dollar in a year?

[NowISeetheLight]

21. Fertilizer is 4x as expensive

This year compared to last (I heard on the news). Not sure it’s true but it would explain why my vegetables are so much more this year.

[True Blue American]

32. My Son found that out when he went to get

Fertilizer for his small garden. They still have old time stores in his small town. The owner said,” you think that is bad wait until the Farmers come in!”

[lonely bird]

34. Re: Natural Gas Prices

Natural gas is a feedstock for fertilizers.
https://www.eia.gov/dnav/ng/hist/rngwhhdm.htm

What drives up prices in commodities are, imo, two things: speculation and greed/fear response.

There is no price fairy that changes prices. The “law” of supply and demand is not a law. It is jargon created to provide a scientific gloss to a psychological response. “Markets” don’t clear nor do they have equilibrium.

[LakeVermilion]

23. If you have a freezer that is stocked...

now is the time to eat through your frozen goods.

Most people, who have freezers, have access to lots of stuff that they got good deals on months/years ago. If that's the case, start eating your way to the bottom of the freezer.

[BigmanPigman]

9. I heard about this on MSNBC and CNN and got super pissed off.

The said that one way to stop them ripping us off is to not buy/use their product/services. I already applied that solution yesterday and purposely chose not to buy something for this very reason. Fuck them! I wish we could get a boycott going that would have an impact but that doesn't seem to work these days.

[True Blue American]

35. I do that every time I shop.

Hiked price? Just move on to something else. The pandemic brought out my old cooking and shopping habits. Stretch a dollar until it hollers! Or watch the Pennies the dollars will take care of themselves. I proved I had not lost the knack!

[BigmanPigman]

74. That is how I was raised too.

I think it is due to the Great Depression and that atmosphere while my parents grew up. I always buy day old stuff at the store and never a brand name if there is a different. And not wasting any food is normal for me. Most people couldn't live this way for long but it is the only way I know.

[True Blue American]

83. That goes for anything I buy

Including clothes, household items, even cars. I have found if you put an item,( big one,) in your cart online and wait, you get a notice it is on sale.

My shopping habits revolve around sales and planning ahead. I tried to see how I could revert to the days of not having money or to run out, buy what I want.

[BigmanPigman]

96. You and I have a rare mentality

when it comes to personal finance. The CEOs don't like people like us.

[BigmanPigman]

10. I heard about this on MSNBC and CNN and got super pissed off.

The said that one way to stop them ripping us off is to not buy/use their product/services. I already applied that solution yesterday and purposely chose not to buy something for this very reason. Fuck them! I wish we could get a boycott going that would have an impact but that doesn't seem to work these days.

[True Blue American]

84. Not buying does the trick.

I notice the 3 groceries I go to for creating things are having the same sales they always did and Kroger is even putting up signs of locked in prices and digital coupons are great.

[DENVERPOPS]

68. Don't count on the media to keep you informed

The same people who run the Stock Market and most other investments are the same Uber Rich Oligarchs that own 80+% of all mass media in the U.S.

[BigmanPigman]

98. I know, I know.

Sometimes I can't put my anger into words and this is one of those times.

[soldierant]

70. **

[Irish_Dem]

3. Raise prices, blame it on Biden. It's how the oligarchs roll.

[SergeStorms]

12. Oh yes, they're going to punish Americans....

and punish the world in general, for electing a Democrat as president.

They're going to teach us that only "no corporate tax" republicans are fit to run our country.

[Irish_Dem]

16. Yep that is that plan.

[bdamomma]

99. We are

nothing but worker bees to them, to only serve them, bastards.

[Irish_Dem]

100. Yes. We are only good for making them wealthy, and we are completely expendable.

They will kill us in a heartbeat if it serves their purpose.

Look at Covid and gun deaths.

[bdamomma]

102. and they

will not stop until they get our money, i.e SS, medicare etc.

[Irish_Dem]

103. They want that money badly. But they know they have to throw us a few bones

from time to time to keep us quiet.

So they have to figure a way to steal it without upsetting us too much.

[bdamomma]

104. We know what's

going on, they are doing it right in our faces.

[Irish_Dem]

107. Yes they are brazen, no longer hide anything.

Because there are no consequences for them.

[Rebl2]

24. So true!

[ancianita]

37. Meaning they're going to have Republicans do their bidding: trickle down bs,

racism, sexism, homophobia, islamophobia, constant online and street surveillance, pro-Russia as law, policy and practice; fascist oligarchy, rigged census, gerrymandered voting districts and rigged election counts. I probably left something out. Oh yeah, no pre-K daycare, no public education, no social security, no medicare or medicaid, no sustainable green energy utilities; kangaroo courts, for-profit postal service, broadband and health care; social credits tradable for food; jobs for Republicans only.

[Irish_Dem]

86. Putin/oligrachs/GOP are now an amorphous blob.

[ancianita]

90. Or a loosely connected mafia network.

[Irish_Dem]

91. Yep. Like Russia. Not a real country, but territory ruled by mobsters.

Who have total control and sucked out all Russian assets.

[orangecrush]

46. Nailed it.

Fuck them.

I can buy a LOT LESS.

[KPN]

60. Ergo, USA ... the best government money can buy. But it

goes well beyond the politicians, it goes to the greedy, uninformed and/or down-right ignorant and prejudiced voters that money also “buys” to elect politicians.

This is what we are faced with until we change election campaign and contributions law. That’s the bottom line. No amount of Union organizing, or lobbying or market regulation will break us from the current corrupt and iniquitous economic system.

[Irish_Dem]

87. The wealthy bribe corrupt politicians who lie to voters.

The promise of a white supremacy minority rule is what the GOP voters want to hear.

[Dave says]

71. Time to enforce some anti-trust laws

I agree with you. It is otherwise inexplicable that large firms are making record profits while we experience the highest inflation in 40 years.

Prices are rising mostly because we are at near monopoly capital. In almost every vector of the economy, 1, 2, or 3 firms have captured 90%+ of the market. It is thus easy for them to raise prices under the camouflage of the pandemic. It’s known as monopoly rents.

One way to combat this is to break up the ‘trusts’ into smaller firms that then have to compete amongst themselves. But do we have the political will to do so (speaking to you. President Biden)?

[Irish_Dem]

72. The oligarch's lobbyists write the laws, with loopholes.

[radius777]

80. Ding ding ding. The oligarchs want the R's in

to cut their taxes and let them run hog wild. Easiest way to do that while raking in profits is to raise prices and blame the 'tax and spend' Dems for inflation - it's the Ronnie Raygun playbook.

[Irish_Dem]

88. Total permanent power, ultimate wealth, white minority rule.

This is the end game.

[Vfrbgt]

5. Let's give some support from our team.

Austin, TX area - Big meeting today at 1401 Cedar Street, Bastrop, TX

Saturday, February 12, 2022 at the Bastrop High Performing Arts Center
From 12 Noon to 5:00

It's a debate between the 2020 right-wing election deniers and our Democrat heroes.

Maybe it's just a right-wing conspiracy klan rioting at our public schools.

Show up, show your support, and show out!!!
Be careful with all those gun toting psychos.

[BumRushDaShow]

14. You might want to post this in the Texas Group

located here - https://www.democraticunderground.com/?com=forum&id=1078

[dchill]

7. That's what I keep seeing on the news! NOT.

According to media messaging, inflation is another Bidenfailure.

[KS Toronado]

15. I'm beginning to see MSM blaming Biden for inflation

Something needs to be done to get it under control before it becomes the major "Issue" of the midterms,
we need Jan 6th and all it's enabler's shenanigans the top issue. I'm beginning to think the Kochsuckers and their
fellow oligarchs are afraid of a possible big blue wave so they are deliberately ruining the economy for everyone
while filling their own pockets.

[Tommymac]

19. Ya Think?

[KS Toronado]

28. Occasionally

Usually, I Thunk

[Emile]

36. That's what the Predatory Capitalists do. They try to blow smoke up our asses

and point to this and that, but never ever blame the greedy capitalist.

[HighFired49]

58. Read "The Shock Doctrine"

by Naomi Klein. " The Shock Doctrine: The Rise of Disaster Capitalism is a 2007 book by the Canadian author and social activist Naomi Klein." Even if the capitalists don't create the disaster, they will certainly take advantage of and exacerbate any disaster/upheaval to further their own interests. Excellent book. More info.: https://en.wikipedia.org/wiki/The_Shock_Doctrine

[Dave says]

73. I read it. Good book.

Very relevant to what’s happening today.

[Moostache]

42. Way too late...this is already the talking point issue

We are hosed as "the party on charge", the usual midterm bloodbath and the constant echo chamber from captive media sources.

Unless there is a miracle, I am preparing to see insane impeachments plural and a mind-numbing descent into madness in about 11 months.

I don't know that we have anything lined up to come close to stopping this. I pray I'm wrong in every way possible.

[KPN]

67. Ouch! You may be right ... which is why I'm 100-percent

behind Bernie, AOC and people like Robert Reich. What we are doing and have done as a party has not worked against the frigging Repugs on the socio-economic front. And they (the Repugs) are principally the cause behind middle class decline and general socio-economic instability. …. Alas, it seems almost hopeless fora number of reasons — the media, campaign finance, and dogmatic belief by too many voters in moderation among them.

[orangecrush]

48. That is the messaging

That I an seeing.

[uncle ray]

8. i work in manufacturing of non-retail goods, we've raised prices on many items 2-4x what they were.

we know the customer will pay the price, the cost to find and qualify a replacement manufacturer is too high and the process is very time consuming. sure, we've lost some jobs, but that's ok. margins have gone up. either the work we are doing is going to be substantially profitable, or we are not going to do it.

this same thing is happening in all levels of all industries.

workers, be prepared to DEMAND a fair wage or walk. odds are in your favor more than they have been in decades.

[lonely bird]

40. I also work in non-retail

Protective coatings and linings were hit when the grid in Texas failed last year. The petrochemical plants went off-line. Much equipment was damaged and getting replacement parts was difficult as they came from Europe or so I was told. The resin manufacturers which depend upon the petrochemical plants had to put their customers, paints and coatings companies, on allocation using Force Majeur. S/W, PPG, Akzo Nobel et al all raised prices and in some cases multiple times. This also impacted plastics which also included automotive, paint as well as plastics. Imo, this shortage of new cars allowed car companies to raise prices which in turn allowed used car prices to jump.

[dwayneb]

59. Work in IT? you have a golden ticket

Right now depending on where you live, you can name your price in the IT field. I have a close friend with a high school diploma who is making in excess of $100K a year as an IT/Network consultant and is so overwhelmed with job offers he turned off his LinkedIn. Companies are so desperate for IT they are paying people to come and interview. $500 is not uncommon.

[WHITT]

11. Add The Meat Processors

The farmers aren't getting any higher prices for their cattle or hogs, and grocery stores operate on extremely small margins, yet the meat processors in the middle are raking in record profits.

[lonely bird]

41. Bingo!

Adam Smith said “merchants will collude.”

Capitalism is not about competition. It is about gaining monopoly/oligopoly market power.

Btw, just to stir up some anger for example, Smithfield Foods is a wholly owned subsidiary of WH Group of China. Capitalism does not care about national boundaries or the people within those boundaries.

[llmart]

13. Now who didn't see that coming long ago?

Corporate America always finds a reason to hike prices. A cold snap in Florida? Two days later the price of orange juice goes up.

I fairly intelligent and saw this would happen down the road, but how long do you have to live in this country before you see the pattern and not know it's coming?

Our corporate media wants to keep this issue in the forefront also.

[Laura PourMeADrink]

17. McDonalds profits were 59% higher in what period

compared to what period ?

[Laura PourMeADrink]

18. Looked up - likely compared to the big dip at low of pandemic early

2020. But very profitable company despite it all. Benefitted for sure from sociological shift to food pickup vs in restaurant dining.

[NewJeffCT]

43. Annual net income at Year-End 2021 vs Year-End 2020

4.7 billion in 2020
7.5 billion in 2021


However, 2019 was 6.0 billion

So, the increase from 2019 to 2021
6025.4
7545.2

Is a 25.2% increase from 2019 to 2021

[Laura PourMeADrink]

61. To be honest, don't really see that as an astronomical

Increase in earnings. Excellent but not inexplicable given new propensity toward not eating in and possibly a flight toward familiarity and trust in uncertain times. I know when we drove cross country for my dad's memorial service we trusted McDonald's over other places - I know sounds crazy but it did happen.

[NewJeffCT]

89. No, it's not a huge increase over 2 years

and, I agree with familiarity - I've been to recommended Italian places in Little Italy in NYC as well as Chinese places in Chinatown in Manhattan & Flushing and had mediocre to below average Italian or Chinese food. Heck, 4-5 years back, went to a highly recommended Chinese place in Boston & my daughter ended up with food poisoning.

So, sometimes when in a new place on vacation (pre pandemic at least), I'll at least start with some place familiar like a chain restaurant. If I get multiple recommendations for a local place, then I will do that.

[Laura PourMeADrink]

95. Ya... All you can really go by is online reviews

And the restaurants that survived pandemic were well run and had money in bank.

Do you live in CT?

[Random Boomer]

20. No one is being forced to buy fast food

The only essential item on that list is the energy company, all the rest are completely expendable. The easiest way to push back is to stop buying their crap.

[George II]

25. Mr. Rashid should look into those corporations' balance sheets AND what contributes to the....

...increased prices and "profits". There's a lot more than simply "corporate greed".

Also, hasn't he noticed that this isn't just in the US or North America? It's happening all over the world.

[Midnight Writer]

26. CEOs who raise prices get bigger bucks. CEOs who don't get removed by the investors.

Then they are replaced by even more ruthless "businessmen".

Reminds me of the Republican Party, where they turn over control to the crazies, who are replaced when they don't act crazy enough, and the voters demand even more crazy.

[moondust]

62. +100000

[BlueIdaho]

27. All along these fat cats that were crying crocodile tears

Were screwing the public? Why am I not surprised…

[spanone]

30. Those days of 'we're all in this together' are loooooong gone.

[Scalded Nun]

31. I have been yelling about this what seems like forever

And it is the sneaky shit as well. Look at how many ounces you are getting in boxes. Amazing how what used to be 16 oz is not 11 or 12. you do not see it right away as they do not raise the price right away. Than, after a 'conditioning' period the price goes up 5-15%.

Amazon doubling profits, then increasing Prime membership by 20%.

Same with gas right now. Nothing but profit.

And the added bonus to corporations and the right...'It's all Biden's fault!'

[Emile]

33. Predatory Capitalism is who to blame for inflation!

[dlk]

38. The downside of monopolies...

When there’s a lack of competition, consumers can count on price gouging. That, along with pent up demand exceeding supply, fuels inflation. And, of course, the conservative media will blame President Biden.

[andym]

39. Corporate greed is a given and a constant, but inflation is due to material costs, oil + wages

Corporate greed is constant and a given. The fast food companies are more profitable in large part due to more business under the current pandemic conditions versus 2021. Oil prices are up on production levels, and high oil prices always make the big oil companies more profitable.

The only question is did any of these companies raise prices more than necessary given their increased wage and material costs.

This was already happening last year:

https://www.reuters.com/business/us-companies-raise-product-prices-tackle-wage-raw-material-inflation-2021-07-23/

Nov 10 (Reuters) - A slew of major U.S. companies that are reeling from the impact of high prices of raw materials, increased labor expenses and supply-chain woes are raising product prices as demand for several goods rebound with the reopening of the economy.

Below are the comments from U.S. companies on their efforts to counter an inflationary environment:

Perrigo Company Plc (PRGO.N)
Implementing price increases on about 75% of its portfolio to counter hit from higher freight costs ]
Oil-Dri Corporation of America (ODC.N)
Will implement price increases of 7% to 10% on its industrial clay and synthetic absorbents, starting Jan. 1
DuPont de Nemours Inc (DD.N)
Implemented price increases earlier in the year in response to rising raw material costs, has said it will continue to do so in Q4 ]
Mattel Inc (MAT.O)
Implementing price increases in the fourth quarter. ]
Hasbro Inc (HAS.O)
Said price increases went into effect in most markets in August, adding it would not raise more in 2021. ]
Procter & Gamble Co (PG.N)
Will raise prices of certain grooming, oral and skincare products in the U.S., adding to the mid-to-high single-digit percentage price increases earlier this year on some goods. read more
Mohawk Industries Inc (MHK.N)
Said in July material, energy and transportation inflation was expected to continue and further price hikes would be required to offset impact.
Yum Brands Inc (YUM.N)
Said it is working closely with franchisees to assess strategic opportunities to change price as and when needed.
Starbucks Corp (SBUX.O)
Said last quarter price increases helped offset sizable wages investments, higher supply chain costs in third quarter.
Sherwin-Williams Co (SHW.N)
Could implement more price increases after prior raises drove sales higher in third quarter. ]
Kraton Corp (KRA.N)
Addressing inflation through price raises after higher average selling prices helped third-quarter core earnings. ]
Oil-Dri Corp of America (ODC.N)
Plans to raise prices on U.S. and Canadian branded and private-label cat litter products.
Caterpillar Inc (CAT.N)
Said inflation might force it to further increase prices across the board after raising equipment prices twice this year. read more
General Electric Co (GE.N)
Said it is taking pricing and cost countermeasures as it expects significant inflationary pressure in 2022.
Mondelez International Inc (MDLZ.O)
Said last quarter it plans to counter rising raw material costs by increasing product prices and reducing packaging expenses. read more
Kimberly-Clark Corp (KMB.N)
Said net selling prices rose 3% in the third quarter and it is raising prices more, noting cost-related challenges are not likely to be resolved quickly. ]
Coca-Cola Co (KO.N)
Will rely partly on higher prices to get around any pandemic impact. read more
McDonald's Corp
Has raised U.S. prices about 6% versus 2020. read more
Lamb Weston Holdings Inc (LW.N)
Might raise prices further depending on the increase in potato costs. ]
Chipotle Mexican Grill Inc (CMG.N)
Noted prices are now about 10% higher. read more
PepsiCo Inc (PEP.O)
Said last quarter it would raise prices to offset higher raw-material as well as advertising and marketing costs. read more
Dow Inc (DOW.N)
Said overall prices climbed 50% in the third quarter. read more
U.S. Silica Holdings Inc (SLCA.N)
Said in July price hikes of some industrial and specialty products would range up to 15% and go into effect for shipments from Sept. 1.
Valmont Industries Inc (VMI.N)
Said it continued to execute pricing strategies to recover the impact of inflation. ]
Otis Worldwide Corp (OTIS.N)
Said price increases announced last quarter would help alleviate the impact from higher commodity prices in 2022. ]
RPM International Inc (RPM.N)
Continuing to implement price increases to protect margins. ]
Harley-Davidson Inc (HOG.N)
Looking at several pricing actions for next year after increasing pricing surcharge in U.S. to 3.5% in third quarter.
Halliburton Co (HAL.N)
Said it has seen some net pricing gains for its services. read more
Domino's Pizza Inc (DPZ.N)
Said its third-quarter sales benefited from an increase in delivery fees. ]
Conagra Brands Inc CAG.N
Will increase prices again on its frozen meals and sna

[orangecrush]

54. Thank you

For a thinking comment.

Can you elaborate?

I take it other factors than straight up gouging are the main contributors to inflation.

When Russia invades Ukraine, oil is guaranteed to hit $100 a barrel, God help us at the gas pumps, and everything else will likely follow.

This move is, at least in part, calculated by Putin to undermine Biden and NATO.

What do you think could be done to counter this?

I would guess, at least short term, releasing part of the strategic oil supply, and promoting ramping up of domestic oil production and refineries.

Hate to say it, but unless major and decisive action is taken, I can see us getting creamed in the. mid terms, in which case we can kiss democracy goodbye.

[liberalla]

44. This is IMPORTANT! Spread the word!

Bookmarking

[Riverman100]

45. On facebook (yes I'm guity)

I posted a meme with this exact same message. I got my face smacked by facebook "fact checkers" that it was "partly false". Assholes

[ck4829]

47. K&R

[NewJeffCT]

49. A lot of it is corporate greed

but, that doesn't account for huge increases in used car prices sold by private parties.

and there are labor shortages in some industries that are leading to increased costs for labor

there are also crop shortages caused by some extreme weather

[mathematic]

50. Corporations only started getting greedy in 2021, apparently.

This is the dumbest explanation for inflation since goldbugs were complaining about central banking.

Oil companies don't even set oil prices! They're controlled by OPEC, a cartel of governments. What a trash tweet.

[orangecrush]

55. ...

.




Yes, we do oversimplify things here occasionally.

[paleotn]

52. Be careful. It's a lot more complicated than a 4 line tweet.

Sorry, but the world isn't built for twitter. Yes, there is price gouging. One reason inflation is hanging around even after supply chains unkink is greed. After a shock, prices always go down slower than they went up. Economics 101. Old as Methuselah. BUT...that's not the whole story. Some of these corporations were hammered after 2019. Our government rightly dumped huge amounts of demand side stimulus into the economy. Given that, when things do come back as our economy opens back up, it comes back in a rush, naturally benefiting company's financial statements. Got to factor that in as well.

Not saying greed doesn't play a part, just saying lets not be all "bumper sticker" dumb like the reich, and commit the sin of simplification ad absurdum.

[dwayneb]

56. Let's say it's 50% inflation 50% corporate greed

Yes there are inflationary factors making everything more expensive, primarily due to transportation shortfalls and manufacturing/production roadblocks.

But retailers and service providers alike are jacking prices on TOP of inflation induced increases. Opportunistic vultures.

And our laws are pretty much toothless to prevent it.

The end result of this will be a huge increase in homelessness and bankruptcies and child poverty, and surely an increase in the suicide rate. For those in the lower 25% of income these price increases are disastrous. Keep an eye out for those who are less fortunate in these times, they need our support, not just financially but with our acceptance and our kindness.

[SonofBen]

57. Simply put, revenue - expenses equal profit

If 1 year I have $1000 in revenue and $900 in expenses I'll show a profit of $100 or 10%.

If the next year I have $2000 in revenue and $1800 in expenses I'll show a profit of $200 or 10%.

But I've increased my profits by 100%.

Would you consider making an investment or a decision on a loan application based on just 1 number?

I really think more information is needed.

[Laura PourMeADrink]

69. Agree. Plus any comparison to the numbers when

The pandemic shut everything down is misleading. Can totally see fast food rising a lot. People and families all home.. easy way to feed.

[Skittles]

75. Amazon

greedy fuckers

[SunSeeker]

76. K & R & Retweeted!

[IronLionZion]

77. How about jobs that provide insulting benefits like food stamp eligibility?

“It’s A ‘Benefit’ To My Employer, Not Me”: People Are Sharing 30 Insulting Things A Job Has Offered Them
https://www.boredpanda.com/people-share-most-insulting-job-benefits/

People Reveal When The Scales Dropped From Their Eyes And They Realized How Toxic Their Jobs Were (30 Stories)
https://www.boredpanda.com/moments-people-realized-toxic-workplace/

“Manager Brought Me Into Her Office Because I Stretched At The Front Desk”: 16 Employees Share Reasons For Leaving Their Toxic Jobs
https://www.boredpanda.com/people-share-toxic-work-environment-stories/

A lot of employers are used to screwing their workers during recession and can't handle competing for workers during a labor shortage.

[Brainfodder]

78. Same shit different day?

[Silent3]

79. Not 100%, there would be inflation now no matter what from screwed up supply chains...

...but it's certainly likely that price gouging has happened on top of that, using general inflation as a cover for opportunistic profiteering.

[Cha]

81. BOYCOTT their Freadking ASSES..

Easy for me to say.. I Never Darken their doors Anyway.

Rt TY

[C Moon]

82. I don't think it's so much greed, as a concerted effort to make the Dems look bad.

[Emile]

92. That too, they did the same thing to Jimmy Carter!

[Sherman A1]

85. Yup

That’s exactly what it is.

[Zeitghost]

93. These threads

Are the economic counterpart to the COVID denying, anti-science, vaccines will magnetize you if they don't kill you garbage coming out of the Qanon right.

Not as dangerous to be sure, but just as ignorant.

[EX500rider]

94. Yeah I tend to agree

There was a post recently wailing about Mobil's "excessive profits" of $23 billion in '21....doesn't mention the loss of $22 billion in '20 or that total sales were 285 billion, making it around 8% profit...not a huge markup.

[Vinca]

97. That's what I said to my husband when he asked me about the $9.99 for keto granola.

IMO, it's greed more than supply chain shortages causing this madness.

[Yanicosco]

101. According to Zillow my house was appreciating in value by

5-6% for a period of time last year. I don't see how that's corporate greed.

[mvd]

105. Maybe not 100%, but definitely greed is a factor

Greed routinely is a factor in the US version of capitalism. More so when Democrats are President, IMO. Corporations don’t like how Democrats don’t coddle them as much.

[Meowmee]

106. I think there is a lot of price gouging

For instance Staples raised their copy per page price by double. I decided it was too expensive. I usually copy my course syllabi there for convenience and since I can’t rely on it getting done properly at work. I opted to print everything at home this time which was cheaper. If I feel price gouging is the cause I stop buying the product and find something else or another way etc. I did that with costco nitrile gloves which went from 19.99 per 400 to 29.99 during the pandemic. I have used them for years for cleaning etc. instead I found vinyl gloves which are just as good for 35 for 1000.

There is a gas station that is selling regular for half the price of everyone else’s. If I am out their way I will definitely fill up there.

Staples was also trying to charge an exorbitant price via ups shipping to mail a few papers, it could only be done by the most expensive mode through them. I went to ups and mailed it for under half the price.