I am sorry, but I believe the largest part of inflation right now is corporate GREED.

[Samrob]

The power of PRICING is their cudgel to try to beat Biden and the Dems. It will work for a lot of the MAGAs to glom onto this. The more dirt they find on Trump and his minions, the higher inflation goes. If you can't see that, you are not paying attention.

[onecaliberal]

1. I agree.

[liberal N proud]

2. Greed has long been our problem

[OldBaldy1701E]

35. Yep.

But, since being greedy is about the most American thing you can be, and those truly greedy vultures are treated as paragons of our society, nothing is going to change.

[jaxexpat]

46. That's a well-founded observation.

Grossly concentrated wealth must be seen for what it is, the most lethal of all the poisons of civilizations. More deadly than immorality or all the named sins, the lusts and the gluttonies and small-time shit like that, concentrated wealth will, by its mere existence, undermine the most basic of any underlying principles a civilization is founded on, dependent upon or is enamored of. As most realize, once a foundation has been eroded beyond a certain point it will fail and all that depends on it will be lost. This is what's happening now. It's the key to our inability to save ourselves from climate change which is changing our world beyond our recognition even as we remain planted, flat footed, in growing recognition of our fate.

Concentrated wealth is the orgy of greed wherein the "haves" give all to retain all while the "have nots" toss their tools of sustenance onto the fires of waste. The planet, our anvil, will not allow an overbalance of dross just because it may have opposing thumbs.

[OldBaldy1701E]

54. Well said! (n/t)

[magicarpet]

3. Ding, Ding, Ding,..Ding,... BINGO.

[edhopper]

4. You are not wrong

grocery prices have far outpaced raw food costs.

I am very sure corn chips don't need to be $5 for them to make a profit.

[onethatcares]

19. it's the air in the bags that really costs

a lot.

[allegorical oracle]

33. Yeah, $5 seems to be the magic number. Coming back from a big box grocer today, that

hit me. A bar of cheese, a loaf of bread, a dozen eggs, a bottle of (real) fruit juice, a bag of onions, a container of yogurt... each one of those were priced $4.99.

And the shrinkflation is crazy. Opened a can of coffee this morning and it was only 3/4 full. We're being screwed.

Sadly, heard an NPR interview with a farmer somewhere out west who said he can't get the usual immigrants in this year to pick his crops. Instead, he bought some farm machine for six figures to try to harvest what he grows. He said he was passing that cost on to consumers.

[NullTuples]

38. Keep in mind...

A whole lot of those farmers are Republicans, and...

California farm workers, backed by President Biden, are pressuring Gov. Newsom to sign the bill passed by the legislature that would make it easier for ag workers to unionize / vote in union matters.

That farmer sounds a lot like the fast food franchise owners who complain about not being able to get people to work multiple split shifts without benefits for minimum wage.

https://www.kpbs.org/news/local/2022/09/12/farmworkers-hold-vigil-to-support-union-bill

[GoCubsGo]

55. As long as people are willing to fork over $5 for a bag of corn chips,

they're going to keep charging it. And, that's part of the problem. If it's something I don't need immediately, they can keep it. I'll wait and get it when it's on sale.

[FoxNewsSucks]

5. You are absolutely right.

The lack of competition among giant corporations lets them get away with it.

[Bettie]

12. And there is virtually no competition in any

industry these days.

The US has antitrust/antimonopoly laws on the books, they simply aren't enforced.

Starting to enforce them would make some very rich people very angry, so no one is willing to pull the lever on that.

[FoxNewsSucks]

30. Yeah, it's really ruined the country in more ways than just the high prices

I still love to travel, but everything - restaurants, stores, gas station, hotels etc - is so dominated by the same national chains. One group owns 15 restaurants, another owns the rest. Hotels are the same. It may appear that there are choices but they're all owned by a handful of investement groups like Darden, Hilton, PepsiCo etc.

All of those industries used to be mainly locally owned businesses, with good jobs and money that stayed in that community. Not anymore. The loss of good jobs, and diversity from one locale to another, is really depressing.

I always go to the local restaurant, and when possible to local stores.

[Skittles]

6. it's been the largest part all along

there was some inflation, but corporations took advantage of the situation to gouge

[Wah_Guy]

7. ABSOLUTELY! n/t

[emulatorloo]

8. Don't be sorry. You're most likely right.

[NCDem47]

9. I'm preparring for prices to never return to where they were.

Any commercial business can just raise prices and then shrug shoulders and say "Inflation." They let the polticians take the hit all while fattening their bottom line and flying under the radar. Higher prices become the normal. Maybe some economist out there can set me straight that market forces will eventully demand businesses lower sales costs.

[Bettie]

13. They will come down a few cents

to make us think it's improving, but never down to a reasonable level, because we'll eventually adjust or so they think.

Fact is, they were making plenty before, now they are making more and they won't be willing to give that up.

[Scrivener7]

11. Exactly.

[Just A Box Of Rain]

14. No, this is counterfactual to basic economics and would involve an exceedly vast

world-wide conspiracy, of which there is no evidence.

Sorry. Bogus claim.

[ProfessorGAC]

27. Agreed!

I'd need to see more than suspicion & misdirected anger to convince me.
Now, if we're talking about the unjustified broken linkage between crude prices & those of refined product, and we're including overly reactive traders trying to minimize losses, I'll listen.

[grantcart]

37. When did basic economics ever matter in a discussion here?

A substantial part of this current inflation bump is the result of several trillion dollars of "pent up demand" by folks like my children who continued to make good incomes during the pandemic but couldn't spend it like they did before. Now they have surplus disposable income to use. It is estimated to be over 2 trillion dollars alone.

The single largest increase besides energy costs is housing and this is the result of millions of homeowners selling for higher amounts, not a corporation among them.

The retail sector continues to fight for survival against price competition from internet sales.

[Just A Box Of Rain]

42. I do wish Americans received a basic education in economics and personal finance.

It is something that is sorely lacking in our society and it works to people's detriment.

On the housing cost issue, it is fair to mention that part of the reason home prices are being driven up is due to purchases by large investors who come in with cash offers.

That said, your points are well-taken. There is pent up demand post-Covid along with supply-chain issues (including goods from China), along with disruptions to the oil supply as a result of Putin's war of agression.

These add to inflationary pressures.

It is obviously not due to some vast international conspiracy (as inflation pressures are being felt world-wide) that are designed to hurt Joe Biden's electoral prospects.

You know that and I know that.

[uponit7771]

58. Nope, retail inventories are **CONTINUE** to pile up and profit margins CONTINUE to be high

https://www.wsj.com/articles/inventory-pileup-uneasy-shoppers-put-retailers-in-jeopardy-11661690106

From Walmart Inc. to Nordstrom Inc., retailers have a glut of inventory and are discounting items to clear out space for holiday goods. Many have already lowered profit expectations for the year and are working to cut costs as consumers are pulling back spending in categories such as apparel and home goods ahead of the key year-end shopping season.

https://www.bloomberg.com/news/articles/2022-08-25/us-corporate-profits-soar-taking-margins-to-widest-since-1950

[Just A Box Of Rain]

59. There is oversupply in some sectors of retail

but a dearth of supply in big ticket items like homes and automobiles.

Gas has been volatile and food prices are way up.

[andym]

15. Rents and food prices leading the inflation charge

Declining fuel prices should help bring down food prices over time. Rents will require the housing bubble to burst.

[FloridaBlues]

16. Greed for sure esp grocery stores. The supply chain is much improved

So can’t blame that too much. They know people need food so why not take advantage of the costumers. Prices else where are starting to come down the inventory is steady. Some economists have stated we have plateaued with inflation. I hope they are correct.

[mnhtnbb]

17. Gas prices are already down substantially--about a dollar/gallon in my area.

Housing prices are also declining locally.

There is a fundamental relationship between supply and demand. There are forces at work which affect both. It's not ALL greed, although I agree the corporate response to almost any situation is not a question of what is the fair and appropriate thing to do, it's how can we turn a situation to our advantage? How do we protect or improve our bottom line?

This country has lost its ethical compass, if it ever had one, which is evident not only in the economy. Too many people are interested in 'what's in it for me' and less concerned about the greater good of the community.

It makes me very sad.

[Amishman]

18. Corporate greed is a factor, but the largest is the Federal Reserve

Their asset purchasing program pumped over $4 trillion into circulation, which is rarely discussed.

Growing the money supply that rapidly dilutes purchasing power and drives inflation.

[peppertree]

20. GREEDflation

Perhaps the most extreme example is in Argentina, where wholesalers and distributors (and to a lesser extent retailers) raise prices not so much according to costs.

But according to the going rate of the black market "blue" dollar (which varies wildly - but usually goes up 50% a year or more).

There's a popular joke down there where a housewife goes up to the greengrocer, and asks:

"Why did bell peppers go up so much since last week?"

"The dollar, m'am," he glumly replies.

"If bell peppers aren't imported!"

"Ah - but dollars are."

[werdna]

21. Yes, yes, yes! But also . . .

Record high diesel fuel prices, even pre-covid. Nearly every product you purchase moves via a vehicle powered by diesel fuel!

[quakerboy]

22. Not just right now

[librechik]

23. Don't be sorry. It's the stone cold truth. n/t

[BigmanPigman]

25. Of course they are.

It's the American way. Corporate America believe that greed is good and "let them eat cake" has been their motto since the dawn of time.

The only ones who don't understand this apparent and obvious problem are GQP/Fux viewers. They blindly eat up everything that corporate media feeds them.

[MontanaMama]

26. Why would you be sorry?

Corporate greed is off the beam.

[Zeitghost]

28. Right....

Because up until recently, corporations who have a duty to investors to maximize profits, chose to not raise prices despite knowing we would pay higher prices, just because.

[/Sarcasm]


Or, maybe a worldwide pandemic caused major declines in supply while trillions were pumped into a stalling economy which eventually lead to increased demand.

[Vinca]

29. It sure seems like it, although the cost of transportation is still high for moving goods.

As that comes down, so should prices . . . except they really haven't.

[yaesu]

31. Its true that corporate greed is behind inflation & the Fed is making it worse by raising interest

rates which only makes things worse for the working class & never solves high inflation.

[Samrob]

32. I believe MSNBC showed a short video of a meeting of CEOs in which they were bragging about pricing

Anyone remember seeing that clip? Have a link to it? If so please post it. Thanks

[Rebl2]

34. Have to agree.

My husband went to buy gas this morning and it was 3.19 at the station he went to. The gas station right next to it was 3.39. I would guess by now the station he went to has raised their price by now.

[Ford_Prefect]

36. The next Corporate board meeting I attend will be a Barbeque.

I'm looking forward to enjoying a very rich meal.







(just barely)

[rurallib]

39. insulin was kind of a stalking horse.

They got away with it - why not anything? Who's going to stop them?

Republicans will stop any investigation or action. Them or the Trump justices.

[Escurumbele]

40. Why are you sorry to tell the truth? Don't be, you are correct.

[BlueJac]

41. Agree 100%

[RipVanWinkle]

43. This video explains why dealership and corporate greed have made and kept car prices so high.

Dealership greed: minute 8:46

Corporate greed: minute 13:16

[LT Barclay]

44. Agreed. I think it starts with the oil companies.

They threw a tantrum when the Biden Admin cancelled leases and are hoping to punish them.
Some industries are just following suit, and others have to raise prices to cover increased fuel costs.

[dchill]

45. No argument.

[mahina]

47. I don't know but it sure feels that way! Gas is still 4.50 even at Costco

Actually I don’t know what is sells for today but I filled up a couple days ago and it was 4.50 a gallon. I know oil came way down but gasoline has not

And that just stays in the chain like an illness.

I don’t buy much so it doesn’t hurt me as much as some folks and I’m not that picky. But I hear a lot of people around here saying how much food is going up and a lot of us are just able to pay our bills now.

[Bucky]

57. How odd. In Houston I'm seeing gas running from 2.89 to 3.59

[Emile]

68. and I just paid $5.29 per gallon

for diesel in Indiana and I had to really shop around to find it at that price. Most places are wanting close to $6.00 per gal.

[Emile]

48. Predatory Capitalism is who to blame for inflation!

Been saying it for months.

[Just A Box Of Rain]

62. Repeating something doesn't make it true.

[Emile]

64. What is oil now a barrel? How much is diesel fuel?

[Just A Box Of Rain]

65. Brent crude is currently $94.98 a barrel.

[Emile]

66. . .

https://energycommerce.house.gov/newsroom/press-releases/pallone-demands-answers-from-oil-companies-on-record-breaking-profits-amid

[Just A Box Of Rain]

67. So? Prices have come down. Petroleum is a highly cyclical business.

During Covid oil futures were near $0.

Supply and demand.

[Emile]

69. Not here!

[Dirty Socialist]

49. Butbutbut...I thought greed was a VIRTUE

At least that’s what Ayn Rand told me

[betsuni]

50. Off topic, but I've seen news stories about mothers talking about the loss of

school lunches, how they have to buy special food to pack a lunch for their children. But those are all expensive corporate hyper-processed foods like Lunchables and pre-made everything. Like buying expensive pre-sliced apples and salad in a bag and sandwiches in plastic containers and everything corporate. Horrible!

[Sympthsical]

51. When the entire country is in on a conspiracy

It's a swing, I'll give it that.

[Celerity]

52. Prices are running riot here in Sweden and Europe in general, worse than the US, as a whole.

[Sympthsical]

53. The thing is, a lot of this was predicted

During Covid. We had two responses on our side when people warned this could happen.

1. Nuh uh!
2. It's transitory!

And any replies that went against that grain were dismissed or replied with "Right-wing talking points!"

So now, when what was predicted to occur has occurred, the race is on for a number three in that collection. A grand, collective conspiracy to get a politician.

And I sort of get it. If someone's on cable news and Twitter all day, where all events upon this earth are down to whichever politician you love or hate, then it kind of makes sense. Good thing happened means my guy is awesome. Bad thing happened means people are working against my guy.

And that is as deep as that analysis goes. And it's certainly . . . a look.

Wait and see if there's a freight rail strike in the coming weeks. This inflation will seem downright pleasant.

Europe is just . . . I don't even know what to say about Europe. I understand the mechanisms, but if I were in government, I wouldn't even know where to begin. Natural gas prices are killer there, while the U.S. has more of a demand/money problem. We're (correctly or incorrectly) trying to solve it with monetary policy. That isn't going to be the same kind of band aid when energy prices are through the roof.

It feels like Europe is in for an incredibly shitty winter.

[obnoxiousdrunk]

60. +1. N/T

[Demsrule86]

56. There is greedflation.

I do too.

[Samrob]

61. Just wanted to add this:

Returned from the grocery store (Giant) about an hour ago. The shelves were loaded with everything and of course, at higher prices. A couple of clerks were trying to find room to shelve some new items but didn't have room. One walked off to tell the manager the other stood there with hands on his hips shaking his head. I walked up to him and asked if he were having a bad day. She said no bad day but was really really tired. They had off loaded stock from a recent truck delivery in the early morning. I asked how things were going. He said things were slowing down. They have lots of inventory and almost no where to stock it. Wow! I walked over to pick up a pack of Town House crackers which seemed to have almost doubled in price since last week. I noticed there were a lot of the boxes on the shelf. Right next to the brand name crackers were the the store brand crackers, 3.39. The Original Town House crackers right next to the was 5.89. You know what I bought, right? At lease in this lower income area of Montgomery County, MD, people are not buying much these days and they are being very selective.

[live love laugh]

63. ✔️+