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 ...
“If a business is gouging you, then don’t do business with them.”
Impossible when they collaborate and price fix an industry to where they are ALL gouging equally.
“That’s how a free market works.”
We no longer have anything that resembles a free market because of the crony corporatism.
I have heard all the lame excuses to cover for the very real greed as a self employed businessman myself. I am calling out my own peers because they are making us all look bad and helping destroy the economic future of my Grandchildren...
I am one of the few who have their priorities right.
If you have a temporary demand or supply driven price spike, when it is over, prices hardly ever go back down. Stupidly I guess, since I have never held large enough share for impact, I opt out in the price spike and wait for moderation, you can't do that with food and some other things.
Sad but mostly true.
“I have caught several grocery store’s computerized cash registers short changing. I have caught their registers double counting certain products even though it was scanned only once. And I have caught registers adding products to the item list even though they were never taken off the shelf and added to the cart.”
I call BS to all of that. I know how computers work and they are not programmed to do that. If they did those things, many others would call them out too.
Joe Biden’s excuses when it comes to high prices:
I ran outta gas.
I had a flat tire.
I didn’t have enough money for cab fare.
My tux didn’t come back from the cleaners.
An old friend came in from outta town.
Someone stole my car.
There was an earthquake,
… a terrible flood,
…locust’s.
It wasn’t my fault!!
“I think the most egregious example of this was the Epi-Pen debacle, when they just went and jacked the price 500% with the nonsense claim and somehow doing so make it MORE available to consumers.”
“If you want it, buy it. If the price is too high, then don’t.”
Yeah, pay our extortion fee or die... And that is not greed? lol
Pretty sure that fits the very definition...
Bookmark
BS? Hardly. I rarely use self-check because I catch a mistake (in the store’s favor) more often that not...usually will be charged standard retail instead of the advertised sale price. I have been charged for ‘excessive’ items on occasion, but that could be ‘human error’.. WATCH YOUR RECEIPT...you will save money.
Thanks for your honesty. Too few hands control access to too many goods. It seems this is not about small business owner’s trying to stay solvent and make a living. It is about draining the pockets of everyman to make them more dependent on government manipulations of the market, as well as putting more on government assistance.
I think the more important aspect the “drop trou and spread for the international megacorps (many of them CCCP owned)” crowd is missing is in the nature of the beast(s).
We’re not talking about your Mom & Pop/apple pie/Rockwell thanksgiving corner store here, but of (often foreign) huge entities that answer to no one and are hostile to conservatives and conservative causes.
: spirited irish
I’ll blow the whistle... I don’t care what the “private business cult” says. They just don’t want to admit to being greedy opportunists. I have been in business all my life and opportunistic collaborated price fixing and price gouging is absolutely real.
___________________________
100%
And those that say greed has nothing to do with it are lying.
Yup.
Thanks.
“I call BS to all of that. I know how computers work and they are not programmed to do that. If they did those things, many others would call them out too.”
I know how computers work too. And I’m telling you right now I have caught them at it and they themselves blame it on “computer glitch/error”. But because no one is double checking their receipts like I do they are not also catching it.
They are just trusting that the computer is ALWAYS accurate just like you are. Start checking your receipts and you will catch these yourself, because as often as it is now happening to me from different outlets, it looks like it is headed towards becoming a deceptive industry practice.
It is like the voting machine algorithms, they are computers and never wrong either right? Computers are only as accurate as they are programmed to be. So you are right, it is not a mistake of the computer. They are programmed to make “mistakes” in their favor.
“100%
And those that say greed has nothing to do with it are lying.”
Yep, and know what is pissing me off? For me it is like the quarterback on my team fixing bets and throwing the game.
Indeed, the problem is not capitalism. It is government that has organized society into “corporations” subordinate to the state.
Corrupt governments pick winners and losers, favoring their own special interests and cronies.
This Democrat-led government has not only restrained some sectors to promote others, but also views the destruction of wealth as a goal, to foster more dependency and promote discord.
“Greedflation” is a red herring used to promote bigger government, higher taxes, and less freedom.
One reason is surely that Americans have been rejecting low cost food, which now has to be: “organic,” even when pesticide free; non-GMO, glutin-free; and is thrown away after arbitrary expiration dates.
“BS? Hardly. I rarely use self-check because I catch a mistake (in the store’s favor) more often that not...usually will be charged standard retail instead of the advertised sale price. I have been charged for ‘excessive’ items on occasion, but that could be ‘human error’.. WATCH YOUR RECEIPT...you will save money.”
Absolutely, I forgot the “bait and switch” of prices that change when you checkout. This happens just about every checkout...
If it happens enough, the ones in the ghetto will burn (again). And that is not an unintended consequence.
““Greedflation” is a red herring used to promote bigger government, higher taxes, and less freedom.”
I am absolutely against more government control. We need a real and true less regulated free market back. But in turn greedy unfair business practices like price fixing and price gouging need to be acknowledged and exposed also. they are rubbing salt in the wound.
Wrong...
It started in 2008 under bushie....
fubo then took it to the hills...
Then Trump refused to act upon it and it kept growing...
Then biteme finished it off...
What we are witnessing is the 2008 depression level event finally playing itself out.
Not 1, but 4 presidents refused to address the situation.
Today is what happens when you, “kick the can down the road”.
Today is what happens when you take a temporary fix (printing money) to stop a depression level event, and just keep letting the good times roll.
To be completely honest, the only choice is to rein in the mountain of cash and let it crash.
We caused this.
4 presidents caused this.
McCain and his accomplaces caused this.
now, we pay the price.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.