Posted on 12/01/2023 1:20:03 AM PST by spirited irish
The term “greedflation” describes scenarios where companies use the cover of inflation to hike prices disproportionately, boosting profits at the expense of consumers. This practice has been especially prevalent during the post-pandemic recovery phase, when inflation provided a convenient pretext for such actions.
Greedflation, a term that emerged prominently during the high inflationary period of 2021 and 2022, encapsulates how some companies exploited the situation to significantly raise prices, often well beyond their increased costs. This practice wasn’t merely a reflection of market dynamics but a strategic maneuver to maximize profits under the guise of inflation.
The impact of greedflation extends beyond just numbers on a balance sheet. It directly affects families, particularly those in lower and middle-income brackets. When prices for basic necessities like food and household goods are inflated artificially, families face heightened financial strain.
(Excerpt) Read more at patriotandliberty.com ...
There’s also portion shrinking and smaller packages.
I wonder how pumping half a billion of taxpayer money into business for covid relief impacted the cash flow and balance sheets - maybe skewing how profits were reported.
Greedflation! That’s the reason the economy is spinning out of control!
If only we had government regulation of prices! And maybe throw in a 5 year government plan for every imeans of production! Sounds like a great idea, with the best of intentions! What could go wrong?
So now it’s “Greedflation” — another way to blame capitalism, and take the heat of of Democrats for their deliberate destruction of America.
And thank you for posting this. It is a discussion that is way overdue. The blame just cannot all be placed on one source. They are aiding and abetting and exacerbating the problem. There are very few industries and businesses who are not being opportunists and taking advantage of the situation to rub salt in the wound and still blame it all on Biden.
“The order to destroy millions of chickens and turkeys came from higher up.”
Yet even then after destroying millions of product units chicken turkey prices have remained fairly stable. How is that if costs of labor, production, and delivery have supposedly gone up 100% or more for everything else? The math just doesn’t add up to be what they all say it is.
“There’s also portion shrinking and smaller packages.”
Absolutely. They do this shrinkflation to hide and soften the blow of the very real price gouging.
100% right. My father told me that when I was a little kid in the early 70’s . He had more colorful language though.
If you don't sell your goods or services at a loss, then you're "greedy". It might be helpful if every child is encouraged to have a lemonade stand where they themselves have to pay for all the ingredients, cups, ice trays, pitchers, cardboard, magic marker... maybe then folks would have an appreciation of basic economics.
Not only has the price per package gone up, but the content per package has decreased. You notice the price increase more when you buy the product by the pound, for example ham, but you notice the content decrease when the package is suddenly empty after 3 servings instead of 4.
“another way to blame capitalism”.
Except the problem is not capitalism, it is “corporatism” and there is a huge difference between the two.
“You notice the price increase more when you buy the product by the pound.”
Yeah, because the new pound is 12 ounces... Wont be long and a dozen will be 10.
And the brainwashed consumers will allow and accept it without question.
I have to wonder how this person knows what any given company's cost increases have been, to even make this statement.
Seems like a little anti-capitalist, class warfare rabble rousing to me.
And Corporatism very much so deserves to be scrutinized. Most are buddies of Biden and the left and do not deserve to be defended at all...
“I have to wonder how this person knows what any given company’s cost increases have been, to even make this statement.”
It is extremely easy to bean count any industry from the fields and mines to the shelf. Everyone who has gone into business starts by doing this before they even open their doors or offer the product or service. You shouldn’t even think about getting into the business if you can’t.
“These prices are not all Biden“
Yes they are. The article points out that this “greedflation” occurs under cover of inflation. Inflation was driven high directly solely by Biden’s policies. They attempt to take the focus off Biden by inventing a lurid leading word and it seems to be working with you. Two things: One, the greedflation may be an attempt by business to get ahead of a strong current trend the end of which they can’t see. Two, the supply chain that you’re so sure you can confidently dictate is far more complex than you are allowing. It involves a great many people and businesses who are all getting slammed in different ways. As a result the rise in prices all down the line may not even remotely be linear, ie fifty percent here = fifty percent there.
As an example an association of commercial bakers tried to calculate the effect of taxes on the price a loaf of bread from m the farmer to the retail counter. The trail was so complex and labyrinthine that they couldn’t do it. They gave up.
Also the laws of the market place haven’t been rescinded. Competitors can undercut gougers for market share.
Don’t take the focus off of the demon party just because they’ve concocted yet another fake phony leading word.
I was introduced to the lie that merchants and suppliers cause inflation by the murderer Lyndon Johnson.
Inflation is currency devaluation. Inflation happens when the House of Representatives spends more money than it has.
The tortillas we buy have shrunk a bit. You wouldn’t notice just to look at them, but when put on a plate as usual y you can easily tell it’s smaller.
Chicken pot pies. Wouldn’t notice to look at them. Now they fit in the baking pan I always use just fine. Use to have to do some adjusting first.
Prices have gone up. Quantity he’s decreased.
FJB
“Record profits”? What was the profit margin?
In a free market, this cannot happen - competition will quickly crush the collaborating opportunists.
Under our fascist system, with government privilege extended to favored operators, such behavior is not uncommon. But only certain key players get to take advantage of it.
Bird flu just detected at Weaver Egg, Raymond, OH and Buckeye , Versailles, OHbyesterdayv
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