FINALLY someone has said what Dems should have been saying for months!

[LAS14]

Last edited Mon Jun 10, 2024, 01:20 PM - Edit history (1)

Maxwell Alejandro-Frost (D-Fl), on the Chris Hayes show on Friday, punched it home. Everything costs too much, and it's caused by corporate greed!

I've never really noticed inflation until this go-around. An unimaginative sandwich with no sides costs $14!!!!!! What-the-f????????

Isn't corporate greed a great Dem rallying cry? And it's based on real, lived experience.

I was so glad to hear this after months and months of talking heads rattling off employment statistics and other stats and scratching their heads, wondering why the population doesn't think the economy is great. BECAUSE A SANDWICH COSTS $14???

[iluvtennis]

1. Greed, greed, greed, & more greed by the corporations...but M$M doesn't address the elephant in the room. n/t

[wnylib]

24. That's no reason why we Dems shouldn't do it.

Publicly shame the corporations for what they are doing.

I believe that it's politically oriented, to create complaints that Biden is at fault for inflation.

[RVN VET71]

66. The political impact is just the cherry on top

The basic reason for anything the corporations do is to make profit. To squeeze as much money out of a business as possible. They do this by charging higher and higher prices for lower and lower quality. It's the, ahem, American Way.

But if the can screw their customers while at the same time helping neo-fascists take power, it's all the better.

(I've a button I purchased decades ago that says, simply, "Eat the Rich" But I wore it satirically because I would never want to eat al the fat and bullshit it would entail to eat the rich. Also, it would border on cannibalism.)

(And, no, I am not calling for the outlawing of capitalism. But I think -- no, I know -- it has to be restrained by a firm and uncorruptible governmental hand, if such a thing even exists anymore.)

[Farmer-Rick]

70. So true

"To make a profit. To squeeze as much money out of a business as possible. They do this by charging higher and higher prices for lower and lower quality."

This is it in a nutshell. They create regional monopolies in order to get away with the ever increasing prices and ever failing quality. The Supremes support this because they claim there are other competitors even though the other competitors are not available in different regions.

You're not going to another county, state or country for a sandwich. You're not going to get gas 50 miles away. You're not going to get water and septic service 2 counties over. Just like you're not going to go from emergency room to emergency room comparing prices when you cut your finger off.

[Escurumbele]

47. The thing is, and people may not like to hear this, the Administration should be placing brakes on the greed

The administration should be auditing, and placing fines on these greedy bastards. At the end of the day they are criminals, and criminals will continue to rob if the police doesn't do anything about it.

[Trekologer]

86. What is an audit going to do and what would the government fine companies for?

There is no legal way to limit markups and therefore profits.

Instead, the administration should be highlighting the companies' own statements. While the media reports a wave of shoplifting (obviously due to Democratic prosecutors declining to prosecute shoplifters, duh) none of the publicly traded retailers are making such statements to shareholders. In fact, their shrink (losses due to a multitude of reasons, theft one of them) are pretty much flat across the board. Restaurants (such as McDonald's and Burger King) admitting they raised prices too much. Food producers (such as Pepsico) telling shareholders they've jacked up prices and consumers don't seem to care.

[Doodley]

2. Where are you buying your sandwiches?

[Shipwack]

8. It was a McDonald's somewhere in Connecticut. nt

[homegirl]

72. Northern California,

a few weeks ago I had a burger and malted at a local Burger place, not a fast food. $15.00, the burger would more accurately be described as a slider, the malted was 8 oz. Realization hit me-I could have had a super filet mingnon(SP.?) if I had purchased at the market and cooked it myself! Now I keep that in mind when food shopping!

[Bettie]

15. A basic subway footlong is 14 bucks

minimum.

And they are a lot smaller than they used to be, the circumference of the bread is about half of what it used to be. When my kids have stuff that they have to go to right after school, we have always got them subway since it is, well, actually in town. 1/3 more price for at least 1/3 (or more) less product and they expect you to tip when you go in to order it.

[Doodley]

23. Outrageous. I had no idea.

[keep_left]

39. It looks like many of the fast-food joints are giving deals only on their apps...

...which you have to download to a mobile device (phone, tablet). The deals are not on the menu in most cases. I'm pretty sure that's where the stories of the $18 Big Mac meals are coming from; there has apparently been huge "greedflation" on menu prices that started after the Covid crisis began to recede. Once I saw the prices going up, I started going to those places a lot less often, which also had a salutary effect on my health.

Probably the reason that the fast-food joints are giving the deals exclusively on the apps is because they can use all the aggregated data as another profit center, just like your local supermarket probably has a loyalty card. All of the fast-food places now have an app they want you to use. I wonder, however, whether these companies got a little overconfident in their price gouging and are now backpedaling; maybe the negative news about "greedflation" has had some effect, and they have finally reached the point where the market will bear no further price increases. (See also post #27).

[mwooldri]

41. The $18 Big Macs have been on tollways.

Those service stations on the toll roads ... Their food prices have always been higher than those off the toll road. When prices increased everywhere these higher prices became even more obvious.

[keep_left]

62. Oh, sure, that makes sense. But even the fast-food joints not on tollways...

...raised their prices significantly after Covid (as did pretty much everyone else). And then they all created their own mobile apps. I first noticed the exclusive "app" deals one day when I was looking at a Taco Bell menu online. It turns out that you can order some of the deals online without their app (on a computer), but other deals are exclusive to the app. It's probably the same for the other fast-food joints, but since I don't have a smartphone, I don't know for sure.

[Doodley]

83. 18 bucks for a McDonalds! Darned apps! Kroger app is the worst!

[Walleye]

3. Corporations are going to charge whatever price the market will bear.

Which only proves, in my opinion, that we’re in a robust economy, at this point, that people manage to continue to buy things at these high prices. Capitalism can really be ugly. I still think this is because of the pandemic, it seems to be worldwide, at least it is in European countries

[betsuni]

4. Biden has been saying this. "That's corporate greed" "still too many corporations in America ripping

people off. Price gouging, junk fees, greedflation, shrinkflation."

[B.See]

35. EXACTLY. And some of us here have been saying it too. Yet there are still

those who insist the buck stops with Biden.

Riddle me this, Battyman:

Why is it that Biden gets the blame for shit he has no control over, yet little or no credit for what he's accomplished?

Answer:

... knives to a gunfight.

[Silent Type]

5. My local mom & pop stores and restaurants are increasing prices too. Even local farmers.

Just don’t think it’s as simple as that slogan, although we’d definitely be worse off with trumpsters in charge.

[maspaha]

10. Mom and Pop stores have to pay their employees more...

So their employees can buy from the greedy corporations.

When corporations routinely gouge it starts an upward spiral. I do not understand the money hungry hoarding habits of corporate elites and I don’t wanna. I just want them ridiculously taxed ‘til their behavior is modified.

[Traurigkeit]

12. Wonder how much their distributors raised their rates?

Plus the local distributor's, regional distributor rates went up?

[maspaha]

29. Right?!? Part of the upward spiral of prices

[orange jar]

6. Dems have been saying this.

Jan 12, 2022(!): https://www.npr.org/2022/01/12/1072295047/inflation-is-still-surging-and-some-democrats-see-one-culprit-greedy-companies

December 1, 2023: https://www.washingtonpost.com/business/2023/12/01/biden-price-gouging-inflation/

March 8, 2024: https://thehill.com/policy/finance/597363-house-democrats-take-aim-at-corporate-greed-during-inflation-hearing/amp/

[betsuni]

7. Thank you. Democratic message on the economy, don't know how anyone could miss it.

[orange jar]

11. Yep!

Dems have been decrying corporate price gouging for a long time now. I was reading DU a lot during that time and was sure I remembered articles about it from that time - and voila!

[NanaCat]

46. The old adage is true...

There's none so blind as those who refuse to see.

[Ms. Toad]

79. Yes, and no.

Taking aim at corporate greed is not the same as first acknowledging that what people who are complaining about the economy are saying: They are not better off than they were 4 years ago.

We have to acknowledge that first - sincerely - and then propose real solutions to it. Pointing the fingers at corporate price gouging, while touting how well the economy is doing (but for those greedy corporations) isn't enough.

[oasis]

9. GREEDFLATION !!!!!

[YoshidaYui]

13. someone told me the other day a crab sandwich was costing 50 dollars.....

i was like who would pay 5o dollars for a crab sandwich>?? no one I know, and they said the restaurant can't get any customers and refuse to have food delivered on UBER EATS, so what do they expect???

[Captain Zero]

38. A crab cake sandwich?

That's a reach for sure.

[DFW]

45. And here we thought a generous, well-stuffed lobster roll in Boston was crazy at $35

Of course, we haven’t been there yet this year, so who knows what kind of sticker shock we’re in for this year? It doesn’t help that rising ocean temperatures have driven much of the lobster population northward, and the local catch was already thinning out a couple of years ago. Lobsters prefer colder water, so the warming of the waters of Cape Cod, while making swimming more fun, has not been good for the local aquatic wildlife. It has also attracted seals, who, in turn, attract great white sharks, which we never used to see on the outer Cape until seven or eight years ago. Attacks on humans are rare, but no longer unheard-of.

[NanaCat]

51. WTF

That's one of the meals we're having next week for dinner. You can bet we're not spending anything remotely near $50 per sandwich. It may not even be $5, since we're getting blue soft shell crabs fresh off the bloody boat at the Asian market. I can always haggle them down to a good price for those crabs--and they even clean them for me before putting them in my ice chest.

I realize I'm lucky to live in a place with an abundance of great ethnic markets, but there is never an excuse for a $50 sandwich.

[cayugafalls]

61. If anyone is willing to pay $50 for a sandwich or even $35 then there WILL be a seller.

And I mean even one person can conflate the price for any given item or vendor.

A well placed article review, connections is high places, past notoriety, etc. can all play a part in setting prices for some higher end or 'famous' brands. For all others, it is market price setting the cost, plus rising rents as investors seek to make up profits for the loss of occupied rental footage as more and more businesses move to remote, disconnected work environments..

Personally, I prefer to make my own, cheaper, better ingredients and no need to tell the cook what I like...unless my partner is cooking.

[Emile]

14. I use Predatory Capitalism.

[Tribetime]

16. Sheridan brown's been running commercials like that for months now

[hay rick]

17. The Democratic "message" is whatever is selected for repetition by media outlets.

They do not like talking about corporate greed. They will misidentify high prices as inflation. They will preface mentions of greedflation with phrases like "progressives claim..." They will downplay record corporate profits and not link them to higher prices.

[japple]

18. It really hit home to me when I saw that Red Lobster was in financial distress. I am not

a fan, but several of my family members LOVED that place, esp. the ones who had kids. It used to be a family friendly place and there were lots of things on the menu that the kids loved. Apparently RL got bought out by a limited partnership (hedge fund) who blamed the downfall of the organization on the "all you can eat" deals Red Lobster offered. https://www.latimes.com/business/story/2024-05-21/column-it-wasnt-just-the-endless-shrimp-red-lobsters-corporate-owners-drove-it-into-bankruptcy

Corporate greed is why everything costs way too much. It will be that way until after the election and our newly-elected Democratic Congress (both Senate and House) together with Joe Biden can go after these bloodsuckers and get them to start paying their fair share of taxes.

[TexasBushwhacker]

33. All you can eat isn't what caused Red Lobster's downfall

They are now owned by the same Thai seafood supplier that owns Starkist (among others) so they basically get their farmed shrimp from Thailand at cost.

However, when they were owned by a private equity firm, they decided to SELL all the land the restaurants were on. Sure, it was a quick influx of cash, but now the restaurants have to lease the land they used to own. Of course, those lease payments will go up every year - forever.

[japple]

34. I guess you didn't read my post.

[B.See]

36. John Oliver covered this last Sunday.

Last Week Tonight with John Oliver.

[Demsrule86]

68. That is not what happene equity firms brought it down...and they are doing it to nursing homes and hospitals...

Equity does nothing, they create nothing.

[japple]

69. That is exactly what my post says. Also the linked article. Guess you didn't read

either.

[HandmaidsTaleUntold]

19. $18 where I live

[Warpy]

20. And what are they doing with those windfall profits?

Are they iunvesting in new equipment? No.

Are they expanding their operations, introducing new products? No.

Are they hiring more people? No.

Are they giving raises to the employees who stuck with the through Covid? No.

So what ARE they doing? STOCK BUYBACKS.

They are artificially jacking up the price of their stock to make C level executives and majority stockholders richer.

We need a windfall profits tax and we;ve needed it since the 1970s.

[JoseBalow]

21. What's an "unimaginative" sandwich?

Is that like the opposite of a "wish" sandwich?

[Nululu]

22. Monopolies set the price.

We have greedflation because monopolies can charge what they like. Antitrust laws have been ignored for too long.the

[onenote]

50. There are lots of posts about what fast food franchises are charging. Are they monopolies?

[Nululu]

81. Buy from monopolies

Collusion also contributes to prices. Small number of food companies control pricing.

https://www.theguardian.com/environment/2021/jul/18/america-food-monopoly-crisis-grocery-stores

[colorado_ufo]

25. THIS is the real "trickle down" economy!

Even small businesses have to raise their rates to compete, or they can't pay rent, wages, utilities, supplies, insurance and everything else. And there is the consumer, at the bottom.

[gab13by13]

26. Really? Wringing my hands over inflation.

Why not ask this question, or better yet, state this fact, the inflation number today is lower than at any time during Saint Reagan's presidency.

Done wringing my hands.

I am amazed how the reich can control the narrative.

[onenote]

49. Can you explain your post in light of this chart of inflation?

https://www.minneapolisfed.org/about-us/monetary-policy/inflation-calculator/consumer-price-index-1913-

Leaving aside the fact that no one cares what inflation was forty years ago.

[4lbs]

27. $14 ?!?!? In a few weeks, on June 25, McDonald's will have their inflation-buster menu.

Last edited Sun Jun 9, 2024, 11:18 PM - Edit history (1)

One can get a McDouble, McChicken, or Hot&Spicy McChicken, plus a 4-pieces nuggets, Medium Fries, and a Medium Drink, for $5.

That's right, five bucks will get you all that.

https://www.msn.com/en-us/money/other/mcdonald-s-5-meal-deal-promotion-may-be-the-precursor-to-more-permanent-value-offerings/ar-BB1ncUpV

Once that happens, I will be interested to see how many of those $14 sandwiches are sold.

Meanwhile, places like Burger King, Carl's Jr,, and Wendy's are planning their own responses to that $5 price.

At the end of the month, I fully expect consumers will benefit from the $5 price. It is currently set for all of July, but may be extended if very popular, especially at the other chains above.

From the article:

The menu for the new promotion is expected to include four items for $5 (a McChicken or McDouble, four-piece chicken nuggets, fries, and a drink). However, the $5 Meal Deal is only running for a month, beginning on June 25, which has attracted attention on social media.

The $5 Meal Deal is also being matched by Burger King (QSR), which is offering its own value pack of one of three sandwiches, nuggets, fries, and a drink for $5.

[BidenRocks]

76. Arby's

5 for 5 this week on reg rb.
Screw paying more!

[4lbs]

85. I don't eat at Arby's anymore and refuse to, I got food poisoning there back in November.

Seems one of the workers didn't make the roast beef sandwich properly.

I ate it on a Saturday night, and Sunday afternoon was puking my guts out. I had the runs for about two days (Sunday and Monday).

I missed work that Sunday.

Never again. It was the only thing I did differently Saturday, and haven't eaten from there since. I also haven't had any more bad food since then either.

[ms liberty]

28. I said this yeaterday in a store

Talking about prices, I said that anyone blaming Biden should stop because it's corporate profits, and he can't fix that except thru price freezes which Nixon tried in the 70's and proved a failure.
Then I said, what we need to do is tax these damn corporations...and I got a hearty hell yea.

In a rural, deep red county in the South.

[CaptainTruth]

30. We need to raise corporate tax rates.

When corporate tax rates were much higher corporations didn't gouge customers with high prices because when their profits became obscenely high their tax rate became painfully high. Instead of making greedy profits & using the money for things like multi-billion dollar stock buybacks, they invested in the business, in workers wages & benefits & capital improvements which benefitted both the company & workers & kept their tax rate lower.

The GOP's huge tax cuts for billion dollar corporations have given those companies a license to screw workers & gouge customers with no real financial penalty.

[mwooldri]

43. I'd add in a windfall tax.

A one off tax for those scalping the American people.

[MichMan]

56. Yes, at least 60% on all business

[CaptainTruth]

84. As a small business owner (my wife & I both)...

...I have to object to "at least 60%," that would put both of us out of business. 90% of the businesses in America are classified as "small businesses" & that would put most of them out of business. That would be devastating & it's not what's best for our country.

Our business profit can be taxed at the same rate as individuals, working for a company, earning the same wage. The issue is when corporate income soars into the billions... then yes 60% is not an unreasonable number.

[orangecrush]

31. Jimmy Carter

They did the same thing to him.

The 1% flexing on the peasants for not electing their puppet.

[diva77]

32. A loaf of gluten-free bread at trader joe's is almost $5 and the loaf is half the size of a regular loaf of bread.

Everything seems to cost twice as much and is packaged at half the size

[Iris]

42. 8.99 for a box of Quaker Oats - might as well be $10

I just go over to target and buy their brand.

Can't imagine needing gluten-free items. I feel for you.

[triron]

63. We pay $10 per loaf of gf at sprouts for the 'heritage'

Style (larger slice). I live in Albuquerque.

[duckworth969]

37. McChicken pre-COVID $1.69

Now $2.49.

Makes me sad because that is one tasty sandwich.

[Skittles]

40. THANK YOU

does Biden truly understand it doesn't matter what the job and stock market numbers are as long as we see with our own eyes prices going up every freaking time we go to the store?

[Shrek]

44. Corporations have suddenly discovered greed? That's why prices are higher now?

If it's that simple I wonder why it took them so long.

[Johnny2X2X]

48. Opportunistic

They took advantage of Covid adn of people having more money from Covid relief.

The market says you should charge what people are willing to pay, and people have been willing to pay more for the last few years because people are making more money. So it's really not an easy problem to solve.

[onenote]

52. And what should Democrats be proposing to prevent corporate greed?

Just saying "it's not our fault" isn't going to win over a lot of voters.

[Emile]

55. What is your suggestion?

[onenote]

59. To emphasize the positive elements of the economy. Employment. Wages.

[Emile]

67. That's great. But how do you explain why prices

for groceries etc etc went up for no reason?

[triron]

64. It's hard to fix 'stupid '.

[aggiesal]

53. It's called GREEDFLATION and its been mentioned since late 2013 ...

Greedflation: Bob Casey (D Senator PA.) Releases Report Exposing Big Corporations for Price-Gouging

https://www.casey.senate.gov/news/releases/greedflation-casey-releases-report-exposing-big-corporations-for-price-gouging

[QED]

54. Stock buy backs, dividends, and executive pay are fueling greedflation

Link to tweet

[I_UndergroundPanther]

75. Stock buybacks

Used to be illegal. Stock buybacks are one of the causes of the great depression.

Maybe they need to be illegal again.

[FBaggins]

57. Lots of people have said this... the problem is they never have a reason why it should matter

Are we saying that corporations are only greedy with this president and not TFG?

[TBF]

58. The high interest rates are a real problem for middle class and lower -

you can't buy a starter home, car, etc when they are so high - even if you have a job. They only help the banks and the uber-wealthy.

[Torchlight]

60. Sounds like a sandwich specially made for

'that guy' who tells people how important he is, brags about drinking only organic, sun-dried water, and drops names without excuse.

(In my case, the jackwad is the fella who works in payroll a few floors down and habitually tells us his dinner bill from his imaginary date-night)

[Justice matters.]

65. Well, the other thing I don't hear (or read) is:

If a majority of swing-states voters "think" voting for the convicted felon and his sycophants will solve the damn $14-effin sandwich (they could make at home for a lot less and carry with them to eat later) cost...

Surprise: IT WILL COST $20-25 next year if their convicted felon "wins" the EC.

On edit: I just saw this thread https://www.democraticunderground.com/100219022379 so yeah, my fault for not seeing it earlier

[homegirl]

71. Every week the consumers should

have a new food classification to boycott.
Week 1 Dairy
Week 2. Bread
Week 3. Meat
Week 4. Dry cereal/packaged meals
Week 5. Fresh produce

Avoid Fast Food services...

[Quakerfriend]

73. Dems have been talking about greedflation for awhile

but, they need to amplify the message.

Interestingly, in the past 2 weeks I’ve noticed a 20-30% decrease in many items at Whole Foods.
This came on the heels of a news story stating that the wealthy are now shopping more at Walmart.

[Emile]

74. It was posted last week Aldi's Food Stores dropping

prices all through the store.

[tornado34jh]

77. Where I work, some of the prices have doubled in the last few years

There once was a time when Cheerios at Publix was around 3.49, now it is around 6.99.

[farmbo]

78. General Mills raised prices five times while racking up record corporate profits.

https://accountable.us/profiteering-watch-general-mills-profits-explode-by-97-percent-after-five-price-hikes/

Kroger also was particularly egregious in ratcheting up prices to fund stock buybacks.
https://www.commondreams.org/news/2021/10/14/corporate-greed-real-culprit-behind-rising-prices-researchers-say

The solution... let's all start shopping at Aldi's, Costco, or mom & pop stores until we force their prices down.

[LuckyCharms]

80. Wendy's for me and spouse. 3 single burgers with cheese and 1 large fry. $26.

[samplegirl]

82. The real clincher to this is

The Republicans are blaming Biden for inflation. Oh, and George Soros.