Is it just possible that a good portion of the "inflstion" we are hearing about daily is

[Atticus]

just mega-corporations spiking their prices in an effort to defeat more Democrats in the mid-terms AND pad their earnings?

We call that "gouging".

They call that "a two-fer".

[Chainfire]

1. A case of having your cake and eating it too. Yea, it is possible.

[yardwork]

2. Of course it is! Totally.

[Johnny2X2X]

3. Global Inflation

Last edited Tue Sep 27, 2022, 09:01 AM - Edit history (1)

This is a global issue. There are still serious global supply chain issues. And a lot of what consumers globally are seeing is firms paying premiums to get the parts they need, or them buying excess stock when the parts they need finally became available. Storing inventory has costs associated with it that are being passed along. Energy prices are also a factor.

Things got all out of whack because of Covid. This has exposed some holes in Lean manufacturing/just in time delivery concepts.

Is there some gouging? Yes, no doubt about it. But if it were mostly gouging, it probably wouldn't be a global issue.

The US is navigating global inflation better than most industrialized developed nations.

[stopdiggin]

7. thanks. I think that has it pretty square.

I don't doubt that there is some price gouging in the mix - but question whether it is a driving , or chief, factor that should be demanding our attention.

Lean/just in time shows a lot of benefit - when all tracks are running and the skids are greased. But - the idea that the future is (either out of necessity, efficiencies, or benevolent wish) going to uniformly provide those conditions - is and was, always more or less a fantasy and a fairy tale.

[VWolf]

28. My company is (well, used to be) a JIT manufacturer

We now maintain some stock in anticipation of further supply chain disruptions. So far, however, we have not needed to increase our prices.

[Lonestarblue]

32. Yes, and the problem with the FED continuing to increase interest rates is that it does not

address a big part of the primary problem, which is the supply chain driving up costs. The US trend of outsourcing as much as possible and stocking no inventory has now shown itself to be a policy that drives efficiency but doesn’t work when it takes weeks or months to get products.

And it takes time to resolve those issues, time the FED isn’t waiting for as they promise several more increase in the near future. In the past, it has been the FED that sent us into recession. They’re on track to do it again.

[KPN]

40. It's really a matter of how you define gouging. From labor's standpoint,

gouging has been going on for decades now. But even from an economists perspective (supply, demand, price, factors of production, etc) there is certainly evidence of gouging in revenue and profit levels. Yeah, there are supply chain issues, yes they are global as is inflation, but there is plenty of gouging as well.

[ripcord]

49. An article in Fortune discussed this exact issue

https://fortune.com/2022/06/26/greedflation-is-price-gouging-helping-fuel-high-inflation-there-are-much-more-plausible-candidates-for-whats-going-on/

[Grolph_]

4. Exactly what they are doing

Preventing FED actions from reigning in the economy. Only for gains on the markets.
401Ks loose while exclusive hedge funds profit.

[Emile]

5. Predatory Capitalism is alive and well.

[Emile]

6. Gas prices are going back up just before the midterm

is not a coincidence.

[stopdiggin]

10. also might have something to do with

the calendar (heading into winter) and a global tightening of supply?

[Emile]

11. Sure, okay. . .

[KPN]

45. Hurricanes are always a good excuse to Jack up oil and gas prices

as well. Big industry cannot give up and will not voluntarily wean itself from record profits. If refineries are going to be paused due to coming hurricanes, industry needs to raise consumer prices ahead of time to sustain those profit levels. It’s a simple concept: blind unabashed greed.

[MichMan]

13. Why did they ever go down at all?

[Emile]

14. Give President Biden credit!

https://www.washingtonpost.com/climate-environment/2022/03/31/strategic-petroleum-reserve-release-biden/

[Demsrule86]

8. It is greedflation.

[Bettie]

39. A lot of it is

because they are jacking the prices up far beyond their additional costs.

They were making profits before, they are making exponentially more now, and when the supply chain problems abate, I doubt prices will go down.

[brooklynite]

9. No.

The entire world isn't a conspiracy theory.

[Elessar Zappa]

23. It's not one big conspiracy but

don’t you agree that *some* companies may use legitimate inflationary pressure to raise prices more than they should to pad their profits? I don’t think it’s out of the question.

[KPN]

47. Correct. It's not a conspiracy, it's a characteristic of

globalized supply-side capitalism in the face of current global instabilities and increasingly daunting and disruptive hurricane/typhoon seasons.

[onenote]

12. So are they also doing this in the UK to harm the conservative government?

[Johnny2X2X]

16. Bingo, this is GLOBAL INFLATION

It is GLOBAL INFLATION!

Argentina has 50% inflation.
UK 10%
Canada 7.6%
Turkey is at 80% inflation, can you imagine the crisis if that happened in the US?

US dropping to about 8% seems like we're right in the middle for developed countries.

And you've got legit hyper inflation in Venezuela right now.

This is a global issue, the more Dems say "Global inflation", the better off we'll be. The Biden administration is doing everything possible to ease inflation, but they can't do a whole lot to ease the pressures on supply chains in China, India, and other Asian countries.

[underpants]

15. You didn't really think they were going to let YOU keep all that 2020 money

Last edited Tue Sep 27, 2022, 09:54 AM - Edit history (1)

of THEIRS in your pocket now did you?

[2naSalit]

17. +1

[Emile]

18. +2

[leftstreet]

58. +3

[themaguffin]

19. It's just greed. Pure greed.

[ananda]

20. More than possible. Very likely!

!!!

[Ferrets are Cool]

21. IMO, it's just price gouging for the sake of more profits, ie...

our corporate overlords can buy more yachts.

[PatrickforB]

22. That is exactly what it is.

Consider gas. The price per barrel of oil has gone down to around $70. But we had a spike in prices at the pump.

Two reasons: increasing profits for shareholders, and trying to make Biden look bad the month before the election.

But no: The current inflation is all about corporate price gouging.

I mean, think about health care - in August, the CPI numbers showed that the cost of healthcare services had risen 5.6% from the prior year, but the cost of health INSURANCE was up over 24%.

Think about that for a minute.

SOMEBODY is getting gouged here and it is us.

Ironic, isn't it, how the Fed is talking about wage inflation - anytime wages start to go up, the Wall Street profit gods panic. Anything good for workers and their families is automatically bad, painted with the brush of socialism. Anyway, wages have moved up right along with inflation, but they aren't CAUSING inflation. Corporate price gouging to recapture profits they lost during the pandemic.

It is all about the REAL God worshipped here in 'Murika.

Money.

[Emile]

26. +1

[Farmer-Rick]

35. Exactly

Well put.

I was wondering why lettuce in east TN went up last spring and summer when everyone I know was growing lettuce in their back yards. And tomatoes going up in the summer???

And why did beef go up when now is the time most people here slaughter a steer and split the costs? Why do prices go up in the middle of abundance?

Whatever happened to supply and demand?

[Wicked Blue]

24. Absolutely. They do it every time.

It happens like clockwork.

Republicans run up the national debt by giving away huge tax breaks to the rich and big corporations.

Democrats inherit this mess, and do what they can to balance the budget.

In the next election cycle, Republicans raise prices and scream "Inflation!"

[TheRickles]

25. Yep. Virtual cartels control so many key industries now that they can manipulate prices.

And if the war in Ukraine is the justification (ie, esp. with oil), then it becomes war profiteering. During WWII, that was considered nearly treasonous, and limits were finally placed on the practice by Sen. Truman and FDR. We need an excess profits tax now, to break the cycle.

[Roisin Ni Fiachra]

27. I know it is. Of course it is. All other so called explanations are mega woo BS

corporate 'splainin.

Those responsible for the gouging need to go to prison for a long, long time.

[True Blue American]

37. Agree!

[Prairie_Seagull]

29. So, clearly

[oldsoftie]

30. Some but not most. This was going to happen no matter WHO won the presidency.

There was simply too much money pumped into the system and top it off with Putin shitting on the world. The US wasnt the only country that pumped cash into their system either. Others did the same & see similar results.
If UKR hadn't been invaded gas would be about where it was in 2019 I'm fairly sure. Maybe 10-15% higher due, again, to Putins bullshit.

But when I hear "supply chain issues" as the excuse for a price increase & its a company that just provides LABOR then yeah I think they're taking advantage of the situation.

[ancianita]

31. That's EXACTLY what it is. You nailed it.

They've got their audience of dupes who they've gouged, and hope it shows up in Republican voter turnout. It's all bullshit, and I hope Biden gives a televised speech on that.

[Marcuse]

33. Profit taking.

[NowISeetheLight]

34. Totally Possible

Look at the record profits for the big oil companies. I suspect you’ll see a big drop in gas prices post-election. They want the Republicans back so they can have more tax cuts and less environmental regulation.

[True Blue American]

36. Yes it is!

Plain old gouging!

I bought soft drinks,4 for $12 last week. When I looked at my bill it was $2.50 apiece…

This week their sale sign said 3 for $14.00! Before I thought I said, “ Oh, Lord, I bought them for,etc.” another woman said,” That is what I was thinking!” The big box store is 50 cents to $1.00 cheaper on everything. So is ALDIS An their Birman products are more than a match for Name Brand.

[GoCubsGo]

38. Yes, they're also getting corporate media to talk down the economy.

Something they like to accuse Democrats of doing.

[Emile]

43. Yes, the so called economic experts blowing smoke out their asses

pointing their fingers at Democratic politicians to cover up what is really going on. They did the same damn thing to Jimmy Carter.

[Amishman]

41. that's a significant factor, but most of it is driven by monetary policy

reposting, because this is a big deal and I don't see many people talking about this. It is easy to blame corporate greed - especially when it is real and a significant factor - but we need to understand the whole picture.

The increase in the amount of money in circulation is a major driver of inflation, and the Federal reserve is responsible for an absurd amount of back-door money printing with their asset purchase program.

The Fed's balance sheet peaked at 8.962 trillion.

Feb 2020 it was 4.166 trillion.

They have started unloading their mountain of securities, but the balance is still 8.822 trillion.

You can't grow the money supply that rapidly without steady inflation.

M2 money supply was 15.458 trillion in Feb 2020. It is now 21.709 trillion. We increased our money supply by a third without growing our actual GDP by anything like that much. Prices will continue to rise to rebalance vs the money supply. Worse, inflation changes spending habits (increasing the velocity of money), acting as a multiplier for that money supply growth.

We're actually fortunate that prices are somewhat sticky, meaning the glut of capital pumped into the economy is very delayed in its impact. There is still time to get the Fed to accelerate their mountain of securities and pull back in the excess liquidity before prices align with the overall money supply.

Until the money supply is reduced by unwinding that excess liquidity, inflation will keep erasing Americans finances. Simply too much money in circulation.

[Meadowoak]

42. Imagine if the repubes take the house. And they put social

Security and medicare on the chopping block, they will try to hold it hostage, just like the budget. What will we have to give up every year just to keep them from gutting SS and medicare. The will use that like no bargaining chip they've ever had before.

[Emile]

59. They'll probably raise the Social Security retirement age again.

[Person of Interest]

44. mega-corporations spiking their prices in an effort to defeat more Democrats?

No, current inflation is the result of mega-corporations maximizing profits in the interest of shareholder value.

[Mblaze]

46. Tiffany Smiley is running against Patty Murray.

She is running an ad that claims that Biden and Murray are “working overtime” to raise prices on Americans. She complains about the higher prices for eggs without mentioning that 36 million chickens were killed last year due to bird flu. Why would we vote for someone who doesn’t make that real connection for egg prices but instead, uses it to make cheap political points?

[Emile]

54. One minute Joe is a big spending Socialist, next minute he's a Predatory Capitalist raising prices.

Republican voters are not smart enough to see through their politicians bullshit!

[rubbersole]

48. Tried and true unfettered capitalism. 'Murican dream, baby!

[Botany]

50. REMINDER: Every Single House Republican Voted Against Efforts to Lower Gas Prices

As Big Oil rakes in record profits on the backs of struggling Americans, let’s not forget that every single House Republican voted against legislation to crack down on gas price gouging. While Democrats remain laser-focused on bringing down costs for families, Republicans in Congress have repeatedly failed to deliver for the American people.

CBS News: “The House of Representatives passed a bill along party lines that seeks to lower gas prices by cracking down on alleged price gouging by energy companies. The House vote was 217-207: no Republican supported the bill.”

https://democrats.org/news/reminder-every-single-house-republican-voted-against-efforts-to-lower-gas-prices/

******

"They" want inflation in order to hurt the American people so they will blame and vote against the democrats.
You can see it on the TV machine when the anchors are almost giddy reporting about high gas prices, inflation,
and just when will that recession take hold?

[Mr. Ected]

51. If we're not just running against Republicans, but also against mega-corporations and the media

I'd say we better not take our voting rights lightly. It's us against them, and THEM is a lot more formidable than the hapless goons Lindsey Graham, MTG, Donald Trump, et al.

THEM don't subscribe to the Constitution. Their bible is capitalism and the almighty dollar. We the people are their means to their ends.

[BradAllison]

52. It absolutely is.

It's full of shit caterwalling from finance guys who don't actually know anything about finance at all.

[Handler]

53. More than possible, I think it's a sure thing

[SouthernDem4ever]

55. Past time for a windfall profits tax

that's the only way to counter total greed in this country.

[txwhitedove]

56. I see it more like trying to recoup what business lost during pandemic. The biggest

hit so far has been $120 month increase in auto and home insurance, after making agent renegotiate. Why? No accidents or tickets, same excellent credit, home improvents, no real reason.

[Texin]

57. That's been my thinking since the supply chain woes seem to have eased.

These corporations are the rethugs' donor class and, based on the leaked rethug proposals to obliterate Social Security/Medicare and the ACA, they are pandering to those corporations and the .01% of the population. They've been hoping for the chance to do that since the New Deal was enacted. How in the hell there are people who consistently vote rethug who also happen to be receiving SSI/Medicare benefits on a monthly basis are blithely unaware that the monthly benefits they've been relying on to live, house themselves and feed themselves is absolutely being promised to be gutted by the politicians they plan to vote for in November, I'll never understand. I guess it's simply a factor of not realizing that they'll regret their vote when their benefits are gutted and they have try to get low wage part-time gig or go live under a bridge somewhere.

[Meowmee]

60. Yes