Posted on 06/20/2023 5:06:54 AM PDT by ChicagoConservative27
Some of the largest general consumer S&P 500 companies are raising prices to boost their own profits even as the Fed raised interest rates to control inflation, according to a new watchdog report.
“Higher interest rates haven’t stopped S&P companies, especially in the big food industry, from inflating consumer prices despite reporting billions in extra net earnings and over a trillion dollars in giveaways to wealthy investors,” said Liz Zelnick, the director of economic security and corporate power at the nonprofit Accountable.US, in a release.
(Excerpt) Read more at thehill.com ...
Gasoline back to $5 a gallon. Diesel back to $5 a gallon. A chomo idiot president who has done everything to destroy energy production. Tens of millions of turd worlders invading every civilized nation taking up housing and using resources, almost all on welfare. A UN cabal of commie marxists shutting down farms. GEE. Why would things be expensive.
MATH IS HARD
The organization with the most greed, who just keep raising “prices” without regard to services provided. Or ability to pay. And can jail you or take away your property if you don’t pay.
That is, of course, the government in its many forms and levels and the taxes that always go up, but never down.
Sales tax when I was a kid in this state was 2%. Now it’s 7%. They say it’s because everything cost more. But if everything cost more their receipts increase at the actual inflationary rate, thus they don’t NEED to raise the percent to retain constant value tax income.
'Greedflation' is thenew inflationlatest buzzword ascorporate profits balloonleftist shills try to shift blame from the DNC/Biden assault on earning a living:report
They have learned what big oil learned long ago. There is a ton of money in lagging the downward price of feed stocks and responding immediately to price increases.
The classic case of greedflation to me is the female ceo of nissan and gm stating that they intend to keep inventories artificially low to keep prices up. I hope this is as short sighted as it once was and they see people go where they can get a car for less money. Neither nissan or gm have a superior product that can command a higher price for either quality, features or prestige. You can usually only sustain a greater margin at the expense of volume for so long unless you have a truly better product in high demand.
The same goes for food and other things I should think.
However, I have blamed sustained high prices on greed from the new normal controllers of industry. Even as feedstock prices have moderated and settled they sustain higher prices and lower content volumes. A can of vegetables would feed a family of four easily in the past, now you have to strain the liquids to find the vegetables.
Yeah, there is a lot of greed going on and the people who receive the benefit never get enough until they stumble upon a trip to the Titanic as a way to waste their stack of money.
Good point. Also 'greedinflartion' is a typical Marxist type term.
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