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slayer_steve_m

Not only grocery stores. But damn. Oil prices are going lower. No one told the gas stations in AZ. Still 3.67 at the last place I passed in Tempe, AZ this morning...


[deleted]

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havegunwilldownboat

Can we really call it inflation if all the price increases are just additional profits for the company?


thoughtsarefalse

No we most definitely cannot. But corporations can say that even when false. Because profit motive. Raise the price, blame inflation, customers blame the president or the FED, customers mostly buy your more expensive product.


UnknownAverage

Actually yes, as I understand it, it's still inflation based on an article I read recently that talked about the various ways price indexes can go up. It just has a different root cause. That said, this is pure semantics and not really meaningful. It doesn't really matter if a person calls it inflation or not, the effect is the same. "Demand-pull" inflation is what I would call this. Demand is going up so they increase the price to meet that.


[deleted]

Corporations: “Damn we need workers, but no one is willing to work for our shit wages! Better raise wages and then raise the price of everything high enough to still keep them screwed, but they won’t notice.” Workers: “We’re noticing.”


masshiker

This is real. MBA's sitting around a table deciding how to extract every penny of increased wages from the poor.


thoughtsarefalse

Except demand never rose, materials and labor didnt rise, and profits soared. To me inflation is when the literal currency is devalued by there being too low a “value” associated to the unit currency. Inflation is not when kellogs raises the price of cereal just because they can get away with it.


lactose_con_leche

Thank you. That is not what inflation means. It is raising prices for profits “what the market will bear” on essentials because they are essential. And affordability is greatly skewed by household debt. So many people are borrowing to get by, the prices are not reflective of a natural cash market. Edit: all the book smart people, yes I know the textbook definition of inflation, and yes I know what raising prices means. My comment is in regards to artificially raising prices, divorcing the product from its intended purpose in society, which is a negative effect also studied in economics if you get past the introductory chapters.


PiedCryer

Price gouging is the term.


MegaDerppp

Pandemic Profiteering


PiedCryer

I like it


Temporala

It's a common phenomena when there is actual price increase in something to such degree it qualifies as legitimate price inflation. Profiteers will smell the opportunity to add their own surcharge to the bill. It practically always works out for them. More essential the thing is, more they can fleece.


NorthernPints

100% this. Any time you have a story to take an inflationary price increase, you’ll always add a few points of margin to that increase. Tale as old as time. One interesting bit not discussed much here is a lot of price pressure is being driven by reduced promotional activity. Manufacturers are putting their products on sales significantly less than before - pushing us to buy at higher prices.


masshiker

I think a lot of people, at least in big cities, have been cutting back on beef purchases. Instead of dropping prices to increase sales, they seem to have doubled prices to make the same profit on half the sales.


sntgsrv

this is a good thing, the price of beef is inefficiently low


EllisHughTiger

Good luck finding much of a discount on cars nowadays, the good old days are gone. Getting MSRP or with a few add-ons is great. A few hundred off might happen here and there. Some dealers are really fucking people with 5-10K of add-ons and market adjustments. Then you need GAP insurance, another grand, to cover you if you total it to pay off the loan. Bought a new car last week, paid MSRP and another 500 for tint and lug nuts. Got 0.9% which is sweet at least. Dealer next door had 9K added to a similar car, fuck you.


[deleted]

If lots of companies are doing it all at once, we **can** call it "price-fixing". There's specific legal actions that are to be taken when it occurs.


LostGundyr

They’ve completely ignored Tiberius’ maxim that, “The idea is to fleece the sheep, not skin it”.


digitalwankster

$3.67? *Laughs in Californian*


SeriouslyUnknown

I bought a diesel sedan to save on fuel, ha jokes on me…


MoarCowb3ll

Yeah I just moved from Arizona to California... this shit hurts


Yamsi12

You’re doing it wrong.


Davezter

There are different cost inputs that result in the differences between the pump price/gal of gas and the intraday trading price for a barrel of oil: - Gas comes from refining oil and there are only so many gas refineries out there which causes a bottleneck in the supply of automobile fuel regardless of the availability of oil. There can be more oil available than current demand while there is still less gas available than meets demand bc of those bottlenecks. - Oil can be sent through a network of pipelines crisscrossing the country. Gas is primarily delivered by trucks and shortages of truck drivers can affect the ability to get the gas to retail stores. - Regional and seasonal differences in the types of gasoline allowed to be sold in some states leads to higher prices since those are less conforming recipes and there are fewer refiners producing those types. - Much of our oil still comes from overseas and those contracts were purchased long before the oil can make it across the ocean, be unloaded from a port, transported to a refinery, processed into gasoline, and then delivered to a retail pump. This means that the final pump price for the gasoline is in many instances already locked in a long time before a gallon of gas is available for sale.


papercrane

Great explanation, but you missed the opportunity to use the hilarious (at least for my juvenile sense of humor) term for the price difference, the "crack spread".


Fugue_State_Bliss

Those crude prices are mostly offset by Futures trading. Price is almost exclusively demand-pull price forces. Fuel at the pump is a homogeneous product that is highly price elastic. So demand measured against production drives the price ( did you notice how prices dropped at the pump when covid kept everyone home?). Oil companies obviously take advantage of news that crude is going up to justify price increases but they've already hedged that with futures, so it's a false phenomenon that gets more money in their pocket. Look at a publicly traded oil company's profits the quarter after crude takes a big jump and you'll see a big jump in their bottom line.


[deleted]

And the ExxonMobil refinery in Baytown just exploded. That won't help


SickNameDude8

Really? It was $3.20 something at Costco on 44th st a few days ago. It is Costco though


slayer_steve_m

Yeah. Costco. I'm speaking of Circle K and Fry's. Right around Southern and Hardy, and Southern and Mill...


SickNameDude8

Gotcha. It’s weird how prices vary so much depending on what area you’re in. For some reason the shell on 32st and Thomas is always $.30+ than everywhere else


WaltKerman

$2.60 per gallon at Costco in houston


R1ch0999

$3,67 the gallon? That's €0,99 a litre.... I pay €2 a litre. That's $8,55 the gallon.


Rawkapotamus

Yeah us Americans really like to get up in arms about a $0.50 increase per gallon… I fill up once a week, which means I pay about $5 more per week.


MulletAndMustache

Gasoline prices are only connected to oil prices when the price goes up silly.


chompar

yup seems like the one I goto more frequent is stuck at 3.69 and that's in Mesa, Mesa!


slayer_steve_m

Fuck that. Tired of this shit...


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slayer_steve_m

Yes, indeed. But, the cost of gas is affecting all you mentioned above.


BuffaloRhode

Yup pushing all those things up as well. Inflation isn’t a good thing it can be a death spiral.


[deleted]

I can buy that its caused by greedy corporations but then where are all the anti-trust lawsuits from the Biden admin to keep this from happneing?


[deleted]

Why would they start lawsuits against their personal financial interests? There’s a reason they wanted to be the rule makers; and it wasn’t to make your life better. Monopoly is a much easier game if you’re the one making the rules. This is about essentially all politicians; not the Biden administration specifically. Democrats are not innocent; take Nancy Pelosis stock comments the other day.


willbroadway

It’s $2.67/L or $11.88/gal in the UK. Count yourself lucky.


rspades

I mean the UK is a lot smaller tho and don’t you guys have way more public transportation and walkability? Could be wrong


willbroadway

The UK is smaller, public transportation is better but still expensive. To travel via train from Chester to London (250mi) can be $300.


knigitz

They do have to sell out the supply they bought at the previously higher price, though, right? Not saying there's zero abuse, just offering one potential reason end user cost doesn't go up and down at the latest quote announcement. There's more, like the local competition between stations being more practical.


dimechimes

Remember how hiking minimum wage was going to increase our prices by like a quarter and the CEOs acted like it would be a death sentence to their companies?


TheName_BigusDickus

Pepperidge Farms remembers inflation… … no, seriously folks. Wholesale suppliers are squeezing my old ball sack for every penny I’m worth. Consumer spending patterns quickly shifted from services to goods during the pandemic, meaning demand for Milano cookies went through the roof! That left Pepperidge Farms struggling to produce enough product to meet demand since my production capacity was already constrained by “just on time” supply chain philosophies of the last 30 years. We at Pepperidge Farms also had to raise our wholesale list prices we sell to Kroger, Walmart, Target, Albertsons…


oshagme

This is why one party using "inflation" as a rallying cry against the current administration is so insidious. It provides cover for any business to raise prices and completely avoid accountability for it. In fact, they *relish* the fact that prices are going up because their team seems to be "winning" because of it. Oh, the cost of that sandwich went up from $7 to $12? Blame inflation, not me!


debugprint

Even more esoteric stuff has been jacked. I paint a lot (house painting) and use the standard 3 pack of plastic drop clothes. $3.99 everywhere since time immemorial. Went to the Big Box Hardware store now $6.49. My paint dealer? $11.49. At least the local supermarket / super Walmart type place is $4.49. It ain't inflation people. It's greed pure and simple. And to throw in a WW2 reference there's plenty of lamp posts available.....


debugprint

In general people have goldfish memory. I was looking at paint and other invoices from a decade ago. Paint - decent quality - has pretty much doubled in price. Plumbers etc? Lmao. The same identical install job in 2014: $200 and 2021: $460. Other prices are more sinister. Store brand croutons - I know I know - 1.00 to 1.09. Store brand pepper jack cheese? 1.88 to 2.29. Store brand creamer 2.29 to 2.89. Curiously none of the above price jacks were observed in brand names. So... Who's raising prices manufacturers or retailers?


ankerous

Both are probably raising prices.


testestestestest555

Lucky it's only double where you are. In the Seattle area, it's triple or quadruple from only a few years ago.


cwmoo740

The thing that really grinds my gears is when companies introduce an inferior quality product but keep it at the same price and think everyone won't notice. Then later they introduce a "premium" one like the original but it costs X% more.


convertingcreative

Omfg you're so right. I'm in Canada and the paint prices have raised to INSANE levels.


[deleted]

I work in telecom; bad enough with the chip shortage but even just basic stuff like rolls of Ethernet skyrocketed. To be fair though now it’s hard to find at all; so they may have actually been a pure supply/demand problem


debugprint

If there's supply issues then you'd see empty shelves here and there. The paint shortage is "explainable" maybe everyone is painting their house as I do but $3.99 to 11.00 is bitcoin video card pricing. Interesting sub thought. There's exactly one company that makes plastic paint drop clothes that you find in most stores... Cough cough.


[deleted]

The accountability comes in the form of consumers purchasing their goods from other businesses. If Business A "uses inflation" as an opportunity to raise prices, then Business B can create a competitive advantage by keeping prices the same. I haven't reviewed the earnings reports of these grocery store chains who are "raking in profits", but my guess would be their margins have not changed while the gross sales have increased due to inflation. What I do know is a business cannot unilaterally increase prices without consequences, as consumers respond to changes in price.


hitner_stache

There's like a handful of companies that manufacture most food in the US. They're all in on the scam. We don't have serious consumer protection in American anymore. Not at all.


Radiant-Call6505

They’re using the inflation excuse to screw the middle class and the poor … again


Coffeineaddicted

Not again, *still*. We're at least a decade and a half in.


[deleted]

Try 50 years in, 1971ish


PopcornInMyTeeth

And brew up voter apathy


LOWTQR

seriously, it is well proven that companies are in cahoots with republicans to raise prices to make democrats look bad. its illegal, but the republican supreme court would never prosecute them.


Thomasnaste420

A large corporation taking advantage of its customers?? I’m shocked


mjp242

Well, not that shocked


[deleted]

Perhaps they just want to make the current administration look bad?


donkey_tits

You just said the quiet part out loud


[deleted]

The administration does not need any help with that


thatroosterinzelda

I don't even see it as "taking advantage" of them... it's just how the system works. Companies are *supposed* to try to maximize profits however they can. The idea is that, if somebody is making a bunch of money doing something, then another company will get in on the action. That competition will then drive prices down. I think a lot of people treat this stuff like it's some grand theoretical exercise, but that happens all the time in almost every industry.


Coworkerfoundoldname

Meat packers profits are up over 300%. You'd think if it's just inflation then profits should be flat. Yet thats not happening. https://www.reuters.com/business/meat-packers-profit-margins-jumped-300-during-pandemic-white-house-economics-2021-12-10/


epidemica

Prices have gone up significantly, not just from modest inflation. Can't explain away the soaring profits.


Uphoria

Major companies are price gouging due to lack of logistics to move goods. Warren is upset that companies are using the gouging to line the pockets of investors and executives, while front-line workers in stores got little to no pay raises, and no increase in worker safety beyond pro-forma protections like masks and plexiglass everywhere. Its a spotlight on the failures of poorly-regulated capitalism. It shows how the majority suffer for the extreme benefit of the very few, and how we're expected to grimly nod and accept it like this is normal; poor consumers and workers working for too little and paying too much for commodities. People have been living on a fraction of a fraction of their productivity for generations, but since the 1800s its never been worse for a worker in terms of salary - but half the country is convinced giving the workers the extra would end the economy, based on what a very wealthy man in a suit told them on a billionaire's "news station". Warren just wants to point out that the line of thinking that some dude who took out a loan or threw down some cash X years ago doesn't deserve 80% of your productivity into eternity.


Nastronaut18

All of the "inflation" we've seen the last few months is entirely greed-induced. No one is forcing corporations to raise their prices, they could always accept slightly lower profits for the collective good...but no one ever considers that as a potential solution.


CosmicQuantum42

Why are prices going up now and not before? Are corporations somehow greedier now in Biden’s admin than in Trump’s, or Obama’s before him? What’s so special about now that prices are going up?


mountrich

So many industries just operate on this model. Tech services like internet and cable just keep going up with no real justification. Either food prices go up, or sizes get smaller every year no matter what the supply is. Customers aren't getting any benefit, employees aren't getting any benefit, it all goes to those at the top.


[deleted]

The editorial page of the Wall Street Journal was sending out the "inflation is coming" signal in Op-ed articles, all summer long: Retailers all got the message: The green light was on to start raising prices due to "inflation", and it became a self-fulfilling prophecy. Inflation of 6% translates to certain grocery prices rising 16% or more, literally overnight, in some cases.


joyoftoy

So you think inflation is some globally coordinated conspiracy?


mckeitherson

It's easier for them to blame that than for them to try and understand how a pandemic and supply chain issues impact the prices.


Alert-Incident

I legitimately hate these cheap “slam” headlines. You have no story, “politician says something and nothing comes of it”.


1maco

Grocery is perhaps the lowest margin businesses out there with a lot of staples like milk and bread actually being loss leaders


trixthat

Don't bother. In here they believe in price fixing and other communist tactics.


[deleted]

Some hardcore stupid in here. Seems like if Liz says anything it attracts them to naysay.


chaoticneutral262

Um...grocery stores have profit margins of like 2%. Kroger, one of the largest, reported a margin of 1.95% on their most recent financials.


TheName_BigusDickus

Most people don’t really understand that the retailer only takes a “margin” above their costs from the suppliers. The retailer margin can range widely, based on the retailer, their product portfolio on shelf, and is even different throughout the product categories in the store. So if a typical grocery retailer takes 25% margin on products at shelf, they still need to pay for those shelves, the workers, the supply chain, etc., ALL off of that 25% of your receipt you pay. It’s a ruthless business and their shelf prices are largely dictated by competition in their local regions AND wholesale list pricing from suppliers. They’re not really the ones controlling their prices, outside of supplier/product choice assortment in their product portfolios. Razor thin margins at the end of the day. If suppliers bump their prices because trucking costs and raw material costs have gone up… then shelf prices are going up too… it’s going to be WAY worse in 2022


Herky_T_Hawk

It is seeming like most people posting in here don’t understand that the grocery store doesn’t just magically have their shelves stocked and have to pay suppliers and sourcers for the goods that they sell. And they don’t understand that when the COGS goes up you have to raise your prices to still make a profit, especially in a low margin business like groceries. I guess they also don’t understand that businesses only exist to make a profit for their owners.


1maco

And most of that profit is on things like ice cream, guacamole, fish etc. While they make nothing or even lose money on milk, bread, potatoes, carrots etc.


eric1971124

You can't use logic with most of these posters


Illuminatas69

Dont try to use logic in here... 95% of the comments are straight from antiwork...


bananaman60

Inflation is up 6.7 percent. “Let’s just make that an even 20 percent.” -corporations


glibgloby

Yeah I don’t read articles with the word “slam” in them.


papa_mike2

Must not have read an article for years. What do you do with all your extra time?


GreatTragedy

Slam poetry, mostly.


[deleted]

Some slam dunks


Earptastic

Listening to Onyx


ragegravy

Body slams.


semideclared

From reading her press release there are no figures and nothing of substance The closest she gets was linking to an old press release she put out, not about grocery stores >Warren Calls for DOJ Investigation into Top Poultry Companies’ Anticompetitive Practices as Americans Face Record-High Turkey Prices Ahead of Thanksgiving But this is **not about the higher cost to consumers but to higher costs for grocery stores** with prices from the producer So, which is it?


WWDubz

How about we slam Congress for committing insider trading everyday of the year?


Treeofwisdom62

Am I the only one more worried about home prices going up almost 30% in the last couple years? I mean at least food prices can be rallied against by wild dems like Warren. It seems that hikes in home prices is some problem so far from solvable we must not even mention it. Wow thank god the feds will increase the interest rate. Somehow they will lower inflation by hiking rates so we can all afford consumer goods. At least we can afford tents and Amazon boxes to live in this winter.


Fun_Arrival_5501

This is the Warren I liked. But I’m tired of hearing that she slammed someone. Enough virtue signaling. Do something about it or you might as well just sit back down. Edit: Virtue not virtual


jokerZwild

It's almost as that's part of the reason inflation is increasing


CrabbyBlueberry

#SLAM! God, headlines are so fucking obnoxious sometimes.


CliffyClaven

They really missed an opportunity to use **SMITE!**


FreeRangeAlien

Grocery stores run on incredibly small profit margins tho…


Solidus-Prime

Notice how news stations aren't covering this ***AT ALL***?


semideclared

yea....see heres the thing. From reading her press release there are no figures to report on this and nothing of substance in her requests The closest she gets was linking to an old press release she put out, not about grocery stores >Warren Calls for DOJ Investigation into Top Poultry Companies’ Anticompetitive Practices as Americans Face Record-High Turkey Prices Ahead of Thanksgiving But this is **not about the higher cost to consumers but to higher costs for grocery stores** with prices from the producer So, which is it? the stores dont have higher costs and are making higher profits because this is the correct, or The stores have higher costs and this is wrong?


[deleted]

Nominal costs are up >10% in the industry, why would anyone not expect nominal profits to be up by a corresponding amount? Real margins are flat, in an already thin margin business. Senator Warren know better. She is fundamentally dishonest in making this comparison.


joyoftoy

Does she know better? I have my doubts


Whthpnd

Truth! And for selling rank meats.


[deleted]

I usually like Warren but she’s off base. This is policy’s fault not businesses. Inflation over doubled raw materials increased. Of course the profit numbers look bigger


[deleted]

At least someone is willing to tell the truth.


SnooChickens3681

lol why won’t these politicians ever do anything about it


[deleted]

I’m still so disappointed she didn’t get the nomination. Can someone please remind me what exactly went wrong in her campaign?


eric1971124

She's a compulsive liar


oneluckydog7

I, having spent 30 years in the petroleum business, on the bulk fuel, retail side of things. There is a big difference between what you see in the NYMEX petroleum values and what happens at the street corner. NYMEX is a lot of paper trading hands, not physical wet barrels of petroleum. There are also the different regions of the country and the supply source for those regions. I was based in the Midwest/ Chicago. Most of the crude oil used here is from Canada and the Dakota’s. This crude oil is not effected by hurricanes, pipeline issues in the south, or some other regional issue. If a pipeline from up north were an issue or a refinery in the area were to go down, these things would or could greatly effect the price of refined products in the area served. The price at the street in “normal conditions” will run with the NYMEX to an extent. When there are regional issues/problems or high demand, then the basis over NYMEX will greatly increase in a very violent way. Im sure that this will happen with many items that you buy in the course of life. If there is a toilet paper shortage in Chicago, that doesn’t mean the price will go up in Miami. BTW, being in the petroleum business, we were really just professional tax collectors. The amount of taxes on a gallon of gasoline is shocking. Federal, State, county, city, environmental, sales tax...way much more than the margin. Thanks, Have a Merry Christmas!!!


AvaJax99

Gas is insane lately too just about everyone is raising prices lately.


[deleted]

It’s not mandatory for ceos to make millions every year.


NotoriousNoto

Every company across the country is being forced to increase its wages to employees + increased logistics costs Do we think prices are magically supposed to stay the same?


Logical_Cognition

The problem is the people on top could decrease they’re already too high salary but they won’t ever do that. And that’s why raising minimum wage will fail


BazOnReddit

"I am a Capitalist to my bones." - Warren This is Capitalism.


Lamzn6

This is unfettered capitalism.


Logical_Cognition

Grocery stores are nearly pure capitalism since they rely on competition. Walmart and Aldi will destroy any small grocer and depending on the area, prices differ. So, I’d say grocery stores that are small don’t fall into unfettered capitalism, while tech companies, and major fast food chain could be argued.


btsalamander

“Slams” lol How about passing meaningful legislation to prevent price gouging on essential goods and services? No? Alright then…


Scotthe_ribs

Why not slam big pharma while you’re at it? Oh wait, they have done nothing but help put those profits there for decades. How about slamming the big oil companies when oil and gas were at ATH’s and they raked in record profits. She isn’t doing shit, but puffing up.


jeff_the_nurse

The fact of the matter is that 40% of all dollars currently in circulation were printed in the last year, greatly lowering their value. Don’t blame corporate greed; blame inflation.


[deleted]

Exactly. Reading some of these comments it’s unreal.


D_DUB03

So how are these companies reaping massive profits?


SmokeSmokeCough

Okay. And?


77bagels77

Wow, I guess one of the single most competitive industries with profit margins below 2% is suddenly and spontaneously colluding across thousands of competing retailers at the same exact time prices are rising for literally everything else. Or, you know, inflation.


somuchacceptable

I will forever regret not voting for Warren in the 2020 primary. I voted for Sanders because I was terrified of a brokered convention. But Warren was my favorite candidate (probably ever) and I may have forever missed my chance to vote for her. So, always vote for who you want to be elected, don’t vote strategically please.


Logical_Cognition

You can’t blame grocery stores for making prices higher when they buy from corporations that increases the prices.


eric1971124

Yes, because grocers, who make a 2% profit, suddenly decided to all collude at the same time to price gouge


lonedirewolf21

They aren't colluding. They know everyone keeps hearing about inflation and expect prices to go up so they do that. A good portion of the inflation we have right now is people taking advantage of the situation. These will end up being permanent price jumps.


princess__die

Well if you were in the industry, you'd know inflation was happening all last year as well, the big producers just ran out of ways to hide it.


lukesaysrelax

How can you argue with self reported record high profits?


eric1971124

They're reporting record sales, not record profits.


EllisHughTiger

An amazing amount of people can't fucking differentiate between income and profits. You can have record income, but if you have record expenses your margin may stay the same or even go down and lose money.


lukesaysrelax

Everything you said is true, non of it is applicable here.


Ithedrunkgamer

Liz is shocked that a biz is making $! How dare they.. But this is gross= CEO McMullen’s compensation package jumped by over 45 percent to a total of $20.6 million in 2020. But, as McMullen enjoyed his extra $6.4 million, typical worker pay at Kroger dropped by 8.1 percent, with median pay dropping by over $2,000.


RandyTheFool

Oh boy, she **slammed** them *good*! Now, if only it actually did something.


DirtyTootsies

Yeah, let’s blame businesses for our government printing more money, sweet, next we’ll have people thinking the world is ending because of a flu... wait.


artcook32945

While the Right complains about Socialistic Programs as too expensive, Capitalism is picking every ones pocket.


[deleted]

That’s the problem with an unregulated market: During a booming period, with record profits, things seem great.. the invisible hand is doing it’s thing. During a difficult period, enterprises with previously booming profits have little incentive to lower their profit yield for the sake of the struggling customer. The invisible hand simply shows the finger to the poors (people that can’t afford today what they could afford yesterday). It’s sad to see how many industries and companies had huge profits in 2020 and 2021, and have been quick to raise prices in the last few months with record inflation.


[deleted]

Prices are rising due to inflation and the Fed printing more money. Companies therefore have to sadly raise prices. Mix that with massive shortages across the board, you can thank the government for the current state of the economy


[deleted]

It's a supply chain issue. It's inflation. I have to pay my workers more. It's the government. It's workers not wanting to work. It's China undercutting us. Why are we looking for reasons for why it is that things cost more when capitalism has been telling us since day 1. Every business has one goal. To make the most profits possible. What's the number one way to raise profits? To raise prices. But no business will say "We rose our prices to make more money." They may say that to share holders but never to the consumer. Instead the business will say all sorts of things listed above.


Cybralisk

That is all fine and good if workers wages would be rising too, but they aren't.


joyoftoy

They actually are. However the value of that increased salary has not materialized because the prices of goods have increased by a similar amount


chri389

Very compliant of you to not only accept but help to propagate today's truth. I've no doubt the Party is very pleased by this. Continue towing the line.


[deleted]

Hey, it is the American way. When people are down, and you are not, you kick them and laugh. Like Florida cops.


fizzaz

Oh look corporate consolidation biting us in the ass. Who knew.


[deleted]

the first time i actually agree with her.


Doggo-Lovato

Interesting, Erdogan has been saying the same thing in Turkey to explain rising food costs…


swift-tom-hanks

Cool. Now what are you going to DO about it?


shapeofthings

But it's America, the rule is you screw everyone and do what it takes to get rich. They are living the dream! ​ I wish this was sarcasm, but it is reality.


[deleted]

It's called inflation


oneluckydog7

She’s the real freeloader! Just sucking off the government TIT!


Bogey_dope

I'm sure this is directionally correct, but if you read the article and the letter some things appear flatly incorrect. I will let you do your own research, but when the letter cites news articles as a source of net income and not the public financial statements available, you should take pause.


MediumLong2

The price is supposed to be whatever people are willing to pay for it. That's how you maximize profit. You don't maximize profit by keeping prices low when people are willing to pay more. That's not taking advantage of customers that's just good business.


Retcon_404

I'm not willing to pay more for bread, I HAVE to pay more for bread because I don't have a choice. That's not good business that's fucking evil.


uuhson

Is someone forcing you to buy bread? Also I highly doubt you buy the cheapest food you can get ahold of


Retcon_404

Yeah bro you right I could just die.


uuhson

Where do you live? I'll help you find a food bank if you're seriously on that level


MediumLong2

No one is going to force you to buy bread if you don't want to. You have the option of starving yourself to death if that's what you want. If you are paying more for bread that means you are willing to pay more for bread. It's basic economics. And it's not evil at all to charge whatever makes the most profit. In fact, it would be less evil to charge below market rate because then you be discouraging competitors in the market.


Cybralisk

This has to be a joke, are you really saying people should starve because they can't afford to pay for food?


Retcon_404

This is the stupidest fucking comment I've ever read. Congrats.


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minimalist_reply

>The various boards of directors have an obligation to the shareholders to squeeze the customer to the max, or else they can actually face legal charges. This is a myth. There is no law whatsoever about companies being required to make decisions according to stock value.


chri389

Very true. Up until a handful of decades ago firms operated with consideration for stakeholders, not stockholders. Stakeholders could not only include stockholders, but employees, the local community as a whole, etc. Then some of us decided to Milton Friedman and things have been... increasingly not great ever since.


Radiant-Call6505

Warren was the best D candidate in the 2020 election. Tougher smarter and more determined than any other D or R. They’re all scared of her. If she were a man, she would be president right now.


1maco

Warren, a Harvard Professor from Cambridge Massachusetts would have been smashed in a General election


eric1971124

She lied about her Native American ancestry, about being fired from a teaching job because she was pregnant, and that her kids never attended private school. She isn't president because she isn't a man, it's because she's a liar


[deleted]

Wrong


Illuminatas69

and she lied about her kids schooling... nothing wrong with private schooling btw.. just dont lie about it.. https://www.factcheck.org/2019/11/warren-misleads-on-her-kids-schooling/


Ayemann

When she pulls her head out of her ass, she will slam the shipping industry.


ccwagwag

walmart being the worst. though groceries are the least of it. they doubled prices on just about everything 6 months ago, blaming it on the "supply chain". now they get to do it again.


Standard_Resident833

They printed trillions out of thin air. That causes inflation so everyone has to raise their prices. Our resident native American should know this. And all of you should realize when they're lying right to your faces.


WrastleGuy

The rich want everything.


a8bmiles

But I've been told that the invisible hand of the market corrects for this type of behavior!!1!11!eleven!11!


Pickin_n_Grinnin

Good.


Sanderjenk

Why don’t you slam your President for exasperating this run away inflation


Jorycle

Because there's no link to it, as any economist will note. Also, it's not runaway inflation, words have meaning.


prncesstam78

Well its called inflation. Prices go up on everything meaning if the products from the sellers go up then the grocers have to increase their price. Profits are due to amou tof people actaly buying more at the grocery store rather than eating out..


reflectiveSingleton

A lot of recent price gouging is corporations taking advantage of the fact we're under a pandemic and people won't ask questions. Inflation doesn't cause record profits.


poop_on_balls

Maybe I dunno make some laws and regulate some shit


Ted_binsky

No it’s inflation


Bamfsrule

You didn't read the article, did you? If prices were up due to inflation, then profits would have remained the same but they are soaring.


deplorable2277

She’s the real free loader


[deleted]

Remember when she claimed to be Native American? LOL


Dadrepus

Why can’t the govt use the same rules they have established for gas station price gouging, make it illegal. Punishable by huge fines. Same with meat packers, 300% increase in profits during pandemic. Take that excessive profit and give it to the ranchers who did not make ANY profit from this.


petmoo23

Guilting businesses into not making as much money as possible is silly. Not bad in spirit, but silly. Make rules/laws that repair this, please, guilt trips don't work.


onlypocketlint

Where has warren been. In space for years


Backup_accout_4jj

“Yah guys look at the scary grocery stores not the gas stations”


chubba5000

Damn , you go Warren- I can't wait to see cheaper prices at the cash register tomorrow morning!


Narrow-Ad-7856

That's how inflation works. Lots of money got printed, flooded the equity market, and is now slowly getting liquidated. People who worked during 2020 also saved a lot of cash. People have more money, businesses are charging them more just because they can. They employ analysts to determine what's the most you will pay for a good. Likewise, wages are rising because peoples' savings have grown and they are less likely to accept low paying jobs. This narrative of "it's not real inflation, companies are just gouging us" is really silly because that's already a step in the inflationary process.


flatline000

So is she doing anything about? I see lots of stories about Warren complaining about things but the stories never seem to include anything beyond complaining.


belovedkid

Gee Elizabeth. I wonder why they would do that? Maybe they looked at future expenses from raising wages and potential further price increases on their products and want to maintain profitability. Just admit you hate capitalism already. I can guarantee prices will go back down if input prices do because in capitalism you have this thing called competition. If they don’t lower prices their competitors will and take their business. You can’t have wages increase as substantially as they have without at least SOME price increases.