Greedflation

[adrina]

Half of recent US inflation due to high corporate profits, report finds​

https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits

A new report claims “resounding evidence” shows that high corporate profits are a main driver of ongoing inflation, and companies continue to keep prices high even as their inflationary costs drop.

The report, compiled by the progressive Groundwork Collaborative thinktank, found corporate profits accounted for about 53% of inflation during last year’s second and third quarters. Profits drove just 11% of price growth in the 40 years prior to the pandemic, according to the report.

I'm betting generously more than half. And I'm not a betting person.

 

[SmokingFap]

And if Trump somehow gets reelected, he and the Republicans in Congress will surely pass more tax cuts for corporations and the wealthy. And golf courses.

 

[Pad_Foot]

More for the wealthy and their loyal serfs.. no..sheep!

 

[pocjet]

A CEO says he's been 'praying for inflation' because it means he can raise prices. Iron Mountain CEO William Meaney told investors that inflation is a good excuse to raise prices. For months, companies have reassured shareholders that they are able to pass inflation along to customers.Oct 6, 2022

same can be said for Coke n Pepsi and other consumer staples, not to mention shrinkflation

such as

 

[TrailerHitch]

Duh...Corporate America and their CEOs don't give a single damn about you or any other consumer beyond getting you to buy whatever shit they are selling. CEOs compensation grows by leaps and bounds and the actual workers salaries stagnate. It isn't that people don't want to work, it's that they don't want to work 2 or 3 jobs to make ends meet. If you can afford to pay CEOs millions you can afford to pay workers a true living wage. I blame the federal government for this too. The minimum wage has been set at $7.25 since 2009. That is insane. You can't rent a place to live, buy a car, feed your family, or afford medical care on $290.00 a week. Minimum wage should be somewhere in the $11.00 to $15.00 an hour range. The only reason that would make prices go up is once again corporate greed. Why are we okay with CEOs making millions while their workers are on food stamps?

 

[pocjet]

They cant sell what we dont buy.....its up to us NOT to buy the stuff or switch to non bran or alternate stuff....if possible

 

[Lazaran]

And you will know them (RWCJ "members" / MAGAts, etc) by the threads they avoid…



The real crime here, is the undeniable fact that the robber barons are not only gouging and profiting obscenely, but that they are ALSO manipulating the electorate into believing the current EXCESSIVE "inflation" is President Biden’s (and the Democrat’s) fault, and thus, helping elect "republican" scum like the corrupt orange traitor who will continue to give the robber barons everything they want. See: The corrupt orange traitor’s tax cuts for the rich and corporations

And the MAGAts, who claim to be anti- "elite", will cheer the robber barons on as they bleed them dry and install government officials that will continue to transfer wealth to the top 1%.

JFC

SAD!!!

 

[SmokingFap]

They cant sell what we dont buy.....its up to us NOT to buy the stuff or switch to non bran or alternate stuff....if possible

I actually agree with you for once. Don't get used to it.

 

[Bn2f]

They cant sell what we dont buy.....its up to us NOT to buy the stuff or switch to non bran or alternate stuff....if possible

Duh...Corporate America and their CEOs don't give a single damn about you or any other consumer beyond getting you to buy whatever shit they are selling. CEOs compensation grows by leaps and bounds and the actual workers salaries stagnate. It isn't that people don't want to work, it's that they don't want to work 2 or 3 jobs to make ends meet. If you can afford to pay CEOs millions you can afford to pay workers a true living wage. I blame the federal government for this too. The minimum wage has been set at $7.25 since 2009. That is insane. You can't rent a place to live, buy a car, feed your family, or afford medical care on $290.00 a week. Minimum wage should be somewhere in the $11.00 to $15.00 an hour range. The only reason that would make prices go up is once again corporate greed. Why are we okay with CEOs making millions while their workers are on food stamps?

Waaaaaait a minute. Is it April 1? Did I just enter the twilight zone?

 

[pocjet]

I actually agree with you for once. Don't get used to it.

I wont

Here is what MORE chains should do

https://www.businessinsider.com/carrefour-pulls-pepsico-products-over-high-prices-2024-1

 

[pocjet]

I wont

Here is what MORE chains should do

https://www.businessinsider.com/carrefour-pulls-pepsico-products-over-high-prices-2024-1

• French grocery chain Carrefour is pulling PepsiCos sodas and snacks from its shelves over higher prices.
• Carrefour is putting up signs informing customers of "unacceptable price increases," Reuters reported.
• PepsiCo said that price increased helped increase its profit in its latest earnings report.

 

[SmokingFap]

Waaaaaait a minute. Is it April 1? Did I just enter the twilight zone?

I think it's the one thing that all of us on here can agree on. We are all disgusted by the exorbitant profits of the corporations, as well as the astronomical salaries of their CEOs. But as long as we support capitalism, we have to accept the bitter pills that come with it.

 

[Bn2f]

I think it's the one thing that all of us on here can agree on. We are all disgusted by the exorbitant profits of the corporations, as well as the astronomical salaries of their CEOs. But as long as we support capitalism, we have to accept the bitter pills that come with it.

Eh? I kinda agree. Lol. You and I could talk minor nuances later. But…

TH? Sigh. There’s a political party and a president who has said inflation has been mostly corporate greed from day one. I’d like you to take the next step and acknowledge those who do not stand up for the middle class and runs on less taxes and protections for big businesses.

https://www.cnbc.com/amp/2023/11/27/white-house-supply-chain-bidenomics-wins.html

And pocjet: They cant sell what we dont buy.....it’s up to us NOT to buy the stuff or switch to non bran or alternate stuff....if possible.

All very nice but you can, and follow me here because this is crazy - you could vote against the interests of big businesses and billionaires.

 

[Bn2f]

I think it's the one thing that all of us on here can agree on. We are all disgusted by the exorbitant profits of the corporations, as well as the astronomical salaries of their CEOs. But as long as we support capitalism, we have to accept the bitter pills that come with it.

We don't disagree. I just think we don't live in a truly capitalist system, but I believe we've skewed too far towards capitalism to the detriment of the middle class and poor. That's my nuance. See? We basically agree.

 

[Bn2f]

Half of recent US inflation due to high corporate profits, report finds​

https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits



I'm betting generously more than half. And I'm not a betting person.

This is frustrating because this affects you and me and TH and pocjet - and I believe that you should write on a piece of paper what is of importance to you. I can't think of anything more than my welfare (women's rights, healthcare) and money. Yet, come November, pocjet will vote for a cult of personality and TH will vote for, IDK , guns??? and 4 years from now again lament high prices and wage gaps.

 

[SmokingFap]

We don't disagree. I just think we don't live in a truly capitalist system, but I believe we've skewed too far towards capitalism to the detriment of the middle class and poor. That's my nuance. See? We basically agree.

Absolutely agreed.

 

[Bn2f]

Ugh, I'm getting mad on this topic because, Goddamn you fiscal republicans and caring conservatives - YOU backed a presidential candidate that declared corporations were people and cheered when SCOTUS backed Citizens United!
Now? NOW? Now you complain???

 

[Bn2f]

I'm sorry. I should not complain. I should embrace this as an opportunity. What I meant say to TH and pocjet is - HELL YEAH, the system is rigged and there's a government swamp that thrives on hurting the poor and the interests of the American public, but trump ain't your savior nor has he or republicans proven to have solutions to fixing.

 

[BabyBoomer50s]

“Greedflation” is a populist concept. It can explain short term inflation the same way wage higher wages is often used to explain inflation. Both theories however ignore the supply and velocity of money.

Inflation is caused by increases in the supply of money and velocity of money. The rate of growth of supply and velocity drive the rate of growth in aggregate spending. Higher aggregate spending results in higher corporate profits. Central banks have been raising interest rates in order to reduce the supply of money and expenditures in relation to goods and services. Inflation rates are falling in response to these measures. Aggregate corporate profits will follow suit.

 

[Bn2f]

“Greedflation” is a populist concept. It can explain short term inflation the same way wage higher wages is often used to explain inflation. Both theories however ignore the supply and velocity of money.

Inflation is caused by increases in the supply of money and velocity of money. The rate of growth of supply and velocity drive the rate of growth in aggregate spending. Higher aggregate spending results in higher corporate profits. Central banks have been raising interest rates in order to reduce the supply of money and expenditures in relation to goods and services. Inflation rates are falling in response to these measures. Aggregate corporate profits will follow suit.

Don't worry, folks, there will be a poll coming soon from this member indicating how Bidenomics is a failing and a majority of Americans have no faith in the economy because inflation is eating into their incomes.

 

[YDB95]

Duh...Corporate America and their CEOs don't give a single damn about you or any other consumer beyond getting you to buy whatever shit they are selling. CEOs compensation grows by leaps and bounds and the actual workers salaries stagnate. It isn't that people don't want to work, it's that they don't want to work 2 or 3 jobs to make ends meet. If you can afford to pay CEOs millions you can afford to pay workers a true living wage. I blame the federal government for this too. The minimum wage has been set at $7.25 since 2009. That is insane. You can't rent a place to live, buy a car, feed your family, or afford medical care on $290.00 a week. Minimum wage should be somewhere in the $11.00 to $15.00 an hour range. The only reason that would make prices go up is once again corporate greed. Why are we okay with CEOs making millions while their workers are on food stamps?

Erm...you do realize everything you say here is due to the party you support, don't you?

 

[BabyBoomer50s]

Don't worry, folks, there will be a poll coming soon from this member indicating how Bidenomics is a failing and a majority of Americans have no faith in the economy because inflation is eating into their incomes.

Incumbent presidents always take heat when Americans feel the economy is not working for them and always take credit when Americans feel good about the economy. Polling reflects that.

 

[Lazaran]

Thanks to BabyBoobs for MAGAt-splaining it to us…



Meanwhile, EVERYTHING in the OP and in post # 7 stands unchallenged.



BabyBoobs

 

[Fuzzy1975]

“Greedflation” is a populist concept. It can explain short term inflation the same way wage higher wages is often used to explain inflation. Both theories however ignore the supply and velocity of money.

Inflation is caused by increases in the supply of money and velocity of money.

That is only one cause of inflation, there are several, maybe go back and retake economics 101.

 

[Fuzzy1975]

Incumbent presidents always take heat when Americans feel the economy is not working for them and always take credit when Americans feel good about the economy. Polling reflects that.

Polling reflects how people feel about the economy not what is actually happening with the economy.