Price gouging is not the same as inflation…
Yet all the corporate media is calling this “inflation” at the same time their sister companies are price gouging on everything.
Let’s set this narrative straight once and for all:
“What has gone underreported in the American press is that a significant amount of the inflation American households are experiencing is simply strategic behavior of businesses to increase prices in order to increase profits.”
Corporate America is making a cash grab during Covid. It’s not genuine inflation. There is no need for these price hikes. They have all amounted to pure profit.
Of it was inflation, then profits would be flat. Don’t fall for the big lie that this is monetary inflation when it’s clearly a cash grab/price gouging from corporate US.
|by Anonymous||reply 110||January 18, 2022 5:58 PM
The democrats need to start holding hearings on corporate pricing.
Oil companies, car companies, grocers, manufacturers have all raised prices and need to explain their reasons.
|by Anonymous||reply 1||January 13, 2022 4:41 PM
Florida has no limit on price gouging COVID-19 tests
|by Anonymous||reply 2||January 13, 2022 4:43 PM
Oil company profits at record high
|by Anonymous||reply 4||January 13, 2022 4:48 PM
How could gas companies make 74b in profits in one quarter?
74 BILLION DOLLARS. PROFIT.
|by Anonymous||reply 5||January 13, 2022 4:49 PM
Right out of the pocketbooks of the American worker.
Why do they do with 74billion dollars? Swim in it?
|by Anonymous||reply 6||January 13, 2022 4:50 PM
R6, instead of whining about it, why don't you go out there and grow some food to sell, or drill for some oil and refine it into gas?
|by Anonymous||reply 7||January 13, 2022 4:51 PM
This thread is about a poor person's subject. *yawn*
|by Anonymous||reply 8||January 13, 2022 4:53 PM
You and the professor who wrote the article made TPTB angry. They hate to be called out on their crimes against humanity and people, and their crimes in general. The thread will be tried to get bullied down and maybe closed soon. Not that it would lead to anything in any way, but it's still important to not let everything go unnoticed, what the corporate and economic gangsters are doing. The media strongly embellishes the situation of the Western and Europpean male and the Western world for many years now.
|by Anonymous||reply 9||January 13, 2022 5:09 PM
As long as everybody knows this is not inflation. This is price gouging. Do what little you can to counter these fake “inflation” narratives.
Wall Street is making a fortune.
|by Anonymous||reply 10||January 13, 2022 5:17 PM
I want to se all these oil CEOs lined up before Elizabeth Warren.
|by Anonymous||reply 12||January 13, 2022 5:34 PM
[quote] I want to se all these oil CEOs lined up before Elizabeth Warren.
R12, for some kind of economic pow-wow?
|by Anonymous||reply 13||January 13, 2022 5:52 PM
Inflation is always and everywhere a monetary phenomenon. Too much money chasing too few goods.
|by Anonymous||reply 14||January 13, 2022 5:54 PM
Our current predicament is not monetary based. It is self inflicted by gouging corporations.
This is more unnecessary distractions from the real crisis at hand.
|by Anonymous||reply 15||January 13, 2022 5:56 PM
Price gouging is killing the American family. What are they going to do when they realize it was all because greedy corporations wanted to squeeze every penny from consumers during the fog of the pandemic.
|by Anonymous||reply 16||January 13, 2022 5:58 PM
We are fish in a barrel for corporations to shoot until the representatives we elect make laws to keep it from happening.
Good luck getting the reps to stop counting their corporate kickbacks long enough to do so.
|by Anonymous||reply 17||January 13, 2022 6:00 PM
Haul these guys before Congress and let ME ask the questions.
They would never get away with this if I was a congressman.
|by Anonymous||reply 18||January 13, 2022 6:05 PM
The cost of natural gas is obscene right now. We got our gas bill yesterday (have natural gas furnace) and were shocked. The distribution price hasn’t changed, but the cost of the gas has more than doubled from last January. No other reason than a money grab. The demand sure as hell hasn’t dramatically increased.
|by Anonymous||reply 20||January 13, 2022 6:23 PM
Corporate America has turned to all scams all the time. Nobody does an honest business anymore. So much for all that Econ garbage we were served. Where is all this supposed competition?
|by Anonymous||reply 21||January 13, 2022 6:25 PM
Could they stop then? These American price gougers are so powerful, they're running up prices here in Germany, too.
|by Anonymous||reply 22||January 13, 2022 6:33 PM
Repeating the word gouging over and over isn’t going to make the runaway inflation under the Biden administration not be inflation and it’s not going to prevent the political repercussions.
|by Anonymous||reply 23||January 13, 2022 6:37 PM
All political campaigns should be taxpayer-funded and the funding amount should be capped.
No more lobbyist contributions, no more of this Citizens Untied bullshit.
This is what is done in civilized democracies. If a candidate can get enough signatures, they can run for office, and their campaign is paid for by the government. Every candidate gets the same amount of $ with which to run a campaign. That way, the best candidate actually has a chance to win.
But good luck getting our money-grubbing politicians to vote themselves out of campaign contributions!
|by Anonymous||reply 24||January 13, 2022 6:40 PM
Oh, dear -- I meant Citizens United.
|by Anonymous||reply 25||January 13, 2022 6:41 PM
It’s Biden’s fault the oils companies made 74 billion dollars? That’s price gouging. Not inflation.
|by Anonymous||reply 26||January 13, 2022 6:50 PM
What does Biden have to do with private companies raising their prices through the roof, resulting in higher cost for consumers and record profits for corporations and Wall Street?
They do not ask the white house for permission.
|by Anonymous||reply 27||January 13, 2022 6:51 PM
R23 which part of the article do you dispute. Or are we just covering our eyes and ears and blaming Biden?
|by Anonymous||reply 28||January 13, 2022 6:52 PM
I’m not going to put up with the trolls in 2022. No more snide, dishonest comments like r23 or any other deplorable propaganda is going to fly.
|by Anonymous||reply 29||January 13, 2022 6:58 PM
The buyer sets the price in an open market. The grocery store in town sells a box of Triscuits for 3.99. People pay it. Walmart sells the same box for 2.69. People pay that too. If nobody bought Triscuits at the grocery store, they would lower their price. Walmart is out of Triscuits, so they clearly could have raised prices. I refuse to pay 3.99 for a box of Triscuits, so I am doing without. My price for Triscuits is at most 3.29.
|by Anonymous||reply 30||January 13, 2022 7:07 PM
That’s sweet R30. When is Walmart going to start selling natural gas??? Or am I supposed to turn the furnace off? Hell…why don’t I just go lie in a snow bank and get it over with!!!
|by Anonymous||reply 31||January 13, 2022 7:11 PM
All these companies are using this as a cover to raise profits.
I’m not getting into these disingenuous econ debates.
Companies are raising their margins. That is what the consumer is feeling at the pump, car lots, housing, healthcare, grocery store, everything. That is not inflation. They are raising their profits, not just prices.
|by Anonymous||reply 32||January 13, 2022 7:17 PM
I have to buy the Great Value brand at Walmart in order to stay within budget. Then I feel guilty for supporting Walmart.
|by Anonymous||reply 33||January 13, 2022 7:51 PM
Great topic OP. Needs to be highlighted more. Biden tried to address it in talking about taking on the meat monopolies.
The problem is the absence of education among the masses - so the cause of inflation and distinctions from price gouging are lost on most. Combined with Fox News not reporting on anything that might reflect reality, trying to create change in corporate behavior is a lost cause. American democracy is lost.
|by Anonymous||reply 34||January 13, 2022 8:21 PM
I’m seeing this pop on social media here and there so it’s bound to breakthrough if enough people keep pushing it. How does anyone afford all of this?
|by Anonymous||reply 35||January 13, 2022 8:35 PM
Some of you need to stop breathing Elizabeth Warren’s air.
If you were paying attention, Biden made several moves to cause these problems.
Vaccine mandates are shutting people out of work. That means that truckers will not be able to haul food to your local grocery store, hence prices will rise. All of you have seen the ships off the California coast not being able to unload. Part of this is due to California being batshit crazy and only allowing certain types of trucks to haul freight in their state. More restrictions means more cost to small time truckers which is either passed on to the consumer or the truckers quit and find other jobs meaning less ways to move goods.
Biden has made it clear he wants to push the green new deal and because of that he’s closing down US oil production. Yet there is not a feasible substitution for oil at this time. Electric vehicles are still not viable and the price of gas is rising because the supply shortage.
The government getting involved in free market is a huge mistake. Warren and her silly price controls are a dangerous game which could cause the shutdown of necessary companies and a real crisis. And if you think the likes of Elizabeth Warren will suffer the same as you, you’re sadly mistaken. Congress never has to play by the same rules as those they govern.
|by Anonymous||reply 38||January 14, 2022 1:13 PM
I don’t see why OP and all these other boot lickers are so concerned in running interference for Biden. Of course price gorging is bad. But, price gorging is not the major cause of the current inflation crisis.
|by Anonymous||reply 39||January 14, 2022 1:19 PM
Not a single person has missed work because of Biden. Stop blaming democrats for everything and stop spreading propaganda it not good for the country.
|by Anonymous||reply 40||January 14, 2022 1:26 PM
R38, oh honey the timing of your bullshit is awful. SCOTUS just ended Biden's vaccine mandate. So when these hordes (not really) of people go back to work and it has negligible impact, what will you blame?
|by Anonymous||reply 41||January 14, 2022 1:29 PM
Keep up the right-wing propaganda busting. It works.
|by Anonymous||reply 42||January 14, 2022 1:34 PM
Gouging ... The word has come down from on high.
Inflation is out of control and Biden doesn't know how to fix it. Time to deflect.
That is why the word "gouging" is suddenly being uttered by every Democratic politician and is said 100 times a day on CNN and MSNBC. Talk about Gaslighting.
If that doesn't work, you can always blame the Russians.
|by Anonymous||reply 43||January 14, 2022 1:35 PM
If the profits remain high and go even higher then it’s not inflation. You know that it ab not inflation but keep pushing that lie. All this lying is not good for anybody. It’s time to start facing the truth. Corporations are out of control and we’re back in the days of the robber barrons. Stop sticking up for them.
|by Anonymous||reply 44||January 14, 2022 1:41 PM
“…many businesses, especially those with significant market power, have increased their prices well beyond inputs costs to increase their profitability.
In other words some firms have been able to use the excuse of supply chain bottlenecks and inflation to price gouge consumers.”
|by Anonymous||reply 45||January 14, 2022 1:44 PM
Do some research r43. You look foolish.
|by Anonymous||reply 46||January 14, 2022 1:44 PM
“It is important to understand that any firm with market power BENEFITS from supply chain bottlenecks.
For example, the bottlenecks in the supply chains are helping to generate massive profits for shipping and postal companies.
|by Anonymous||reply 47||January 14, 2022 1:45 PM
R27 would easily blame Trump if he was still in office.
|by Anonymous||reply 48||January 14, 2022 1:45 PM
Please spread this information to family and friends who are Getting hit hard by these vultures.
|by Anonymous||reply 49||January 14, 2022 1:45 PM
Just read the article at the link at ignore the trolls.
|by Anonymous||reply 50||January 14, 2022 1:46 PM
“Shipping giant Deutsche Post AG (owner of courier DHL) reported record earnings in 2021. The world’s largest shipping company, AP Maersk announced its most profitable quarter in its 117-year history. Indeed the top 10 container shipping lines are on track for profits exceeding $120 billion in 2021. Postal giant UPS posted its best year ever in 2021 and announced substantial price hikes in 2022.”
|by Anonymous||reply 51||January 14, 2022 1:46 PM
“most profitable quarter in its 117-year history”
Read it and weep.
|by Anonymous||reply 52||January 14, 2022 1:47 PM
“exceeding $120 billion in 2021”
Are you people getting it now?
|by Anonymous||reply 53||January 14, 2022 1:47 PM
I've known from the beginning that this was price gouging. Having lived thru inflation several times this felt different. Prices rose differently. The money that the richest were making was off the charts.
|by Anonymous||reply 54||January 14, 2022 1:48 PM
“Postal giant UPS posted its best year ever in 2021 and announced substantial price hikes in 2022”
|by Anonymous||reply 55||January 14, 2022 1:49 PM
They are robbing working families blind.
Congress needs to take action today. Haul the CEOs to the hill.
Private equity too.
Line these bastards up. I want names with the faces. Who could do this to poor families and sleep at night?
|by Anonymous||reply 56||January 14, 2022 1:50 PM
No wonder there is a strike every week.
|by Anonymous||reply 59||January 14, 2022 2:01 PM
Well everyone (corporations included) can simply take advantage by using the term “because of Covid” or “because supply chain issues/chip shortage” and people will accept the excuse and not question it.
|by Anonymous||reply 60||January 14, 2022 2:03 PM
R60 that’s what happened in 2021.
2022 is all about hauling these assholes into court and have them answer for these egregious, predatory and destructive actions.
|by Anonymous||reply 61||January 14, 2022 2:05 PM
“our most powerful companies are using this moment as a way to increase profits and enhance their market power. This is called corporate price gouging.
|by Anonymous||reply 62||January 14, 2022 2:11 PM
“Especially big business with market power has used inflation as an excuse to increase profits. Coca-Cola, Pepsi, General Mills, Hormel, Reynolds, Procter & Gamble, Kimberly-Clark, Nestlé, Unilever, Tyson Foods, Kellogg’s, Mondelez (aka Kraft), provide some examples.”
“The Federal Reserve of Saint Louis shows that US corporate profits have increased more than 100% in the past year.”
|by Anonymous||reply 63||January 14, 2022 2:12 PM
ONE HUNDRED PERCENT PROFIT INCREASES.
AND THATS NOT JUST REVENUE. THATS PROFIT.
|by Anonymous||reply 64||January 14, 2022 2:12 PM
Sleepy Joe Biden raised gas prices and shot the pipeline! How are we supposed to go to Disneyworld this year?
|by Anonymous||reply 65||January 14, 2022 2:17 PM
[quote] oh honey the timing of your bullshit is awful.
Were you born yesterday? We weren’t having these problems when Trump was POTUS. If ever there was a time when companies could price gouge, it was during the Trump administration.
Biden owns this mess completely!
|by Anonymous||reply 66||January 14, 2022 2:25 PM
Lol @ blaming Biden for corporate greed!
The trolls are in a silly mood today. Must be the weekend has got them throwing humorous jabs instead of their usual wordy drivel.
|by Anonymous||reply 67||January 14, 2022 2:37 PM
R43 can you post one example? I think you’re lying.
|by Anonymous||reply 68||January 14, 2022 3:04 PM
We’ll have to wait until November to see how successful the operatives are in using a “gouging” narrative to deflect away from the runaway inflation, but I’m going to guess that voters will recognize the inflation as inflation. It’s always interesting to how the operatives have DL on their list of websites on which to push their talking points, like “gouging”.
|by Anonymous||reply 69||January 14, 2022 3:06 PM
So you are unable to post an example of this claim? But supposed it’s happening so frequently. It should be easy!
But you made it up. R43 is a bald faced liar and there is too many of them on here.
|by Anonymous||reply 70||January 14, 2022 3:09 PM
People need to educate themselves with some basic economics.
From JPMorgan: “What’s driving wages, goods prices and asset valuations higher? A whole lot of money.”
“Did you know that COVID monetary stimulus dwarfs the size and speed of money creation after the Global Financial Crisis? Now that commercial bank loan demand is growing, there’s plenty of fuel for continued reflation, even as the Fed slows its asset purchases.”
|by Anonymous||reply 71||January 14, 2022 3:18 PM
Um, it if was price gouging, then why are WHOLESALE prices up 10%? I just can't with these Elizabeth Warren talking points.
Gas companies would love to expand capacity to take advantage of these higher prices. Their profits would be even higher than they are now. I wonder who demonized their industry and stopped them from drilling new wells?
I swear to God these woke propagandists are pushing me out of the democratic party. I'd be joining a swelling number of fellow Hispanics tho.
|by Anonymous||reply 72||January 14, 2022 3:26 PM
The problem with Warren’s idea of price setting is that the government will also have to get into portion size.
I can see Warren screeching “Domino’s will NOT reduce the size of their chicken wings. The government will also measure each wing to ensure the American public gets the appropriate meat to bone ratio.”
|by Anonymous||reply 73||January 14, 2022 3:30 PM
The last two posts are completely red herrings.
|by Anonymous||reply 74||January 14, 2022 3:38 PM
So r43, no clips to post? Articles? Any evidence of your wild and fantastical claim?
|by Anonymous||reply 75||January 14, 2022 3:43 PM
If this is happening “100 times a day on CNN and MSNBC.” Can’t you post one example. It would probably take less time that these right-wing propaganda screeds.
|by Anonymous||reply 76||January 14, 2022 3:44 PM
Price gouging may be a problem but it's not the reason for the worst inflation in 40 years. Dems should have been more honest from the beginning about how serious inflation was getting. Now they look clueless. Problem is they can't get serious about inflation and also push BBB. I don't get the strategy of going in 100% on a bill that will never pass but that seems to to be the current strategy.
|by Anonymous||reply 77||January 14, 2022 3:46 PM
The premise of the article is that the mainstream media is not covering this enough. Is r43 saying that it’s being covered plenty?
|by Anonymous||reply 78||January 14, 2022 3:48 PM
The bottom line is that pinch that suburban mothers are feeling at Costco and for weekend trips to grandmas is because of out of control corporate greed. It has nothing to do with monetary policy, other than the corporate greed and its effects on such issues.
|by Anonymous||reply 80||January 14, 2022 3:49 PM
Part of the problem is that the Democrats want to get into manipulating the economy. Look up Solyndra during the Obama administration. Taxpayers should not be propping up failed business plans.
|by Anonymous||reply 81||January 14, 2022 3:51 PM
Corporate greed under Biden is worse than it was under Trump. I doubt that. And if it is, what kind of weak pushover is he?
|by Anonymous||reply 82||January 14, 2022 3:51 PM
Look at these corporate margins. They are off the charts. This has never happened in the history of the country. They have never made so much money.
If it is “inflation” these corporations are doing everything to keep it going. They love this so called “inflation” because they get all of this cash and none of the blame.
|by Anonymous||reply 83||January 14, 2022 3:53 PM
R66 why are you pretending the timing I was talking about was Biden vs. Trump when I was clearly talking about the halt to Biden's vaccine mandate?
But since you brought him up. let's talk about the mess Trump made even BEFORE the pandemic. This is an example of a president actually causing a fiscal crisis:
|by Anonymous||reply 84||January 14, 2022 3:57 PM
People like r43 are going into every thread, posting one or two phrases of dissent, and then leaving an never responding.
Those types of posts are just meant to distract and keep the status quo price gouging going. They give no thought to people on minimum wage who can not afford this crap.
Do these CEOs need a 5th faction home? 3rd yacht? When is enough enough?
|by Anonymous||reply 85||January 14, 2022 4:00 PM
Democrats can focus on price gouging but that's tough when you're also pushing BBB which will pump more money into the economy. It shows you're not taking inflation seriously.
|by Anonymous||reply 86||January 14, 2022 4:09 PM
Wall Street is making a fortune.--
Yes and both conservatives and neo liberals are invested in Wall Street. They pass the laws to make this corporate racketeering legal.
|by Anonymous||reply 87||January 14, 2022 4:10 PM
[quote] Do these CEOs need a 5th faction home? 3rd yacht? When is enough enough?
Bernie Sanders has at least three homes. Not bad for an old Communist who never had a real job.
|by Anonymous||reply 88||January 14, 2022 4:10 PM
What’s the point in a awoken 401k if everything costs twice as much.
It’s a scam and the same people always win. The same people always lose.
It’s all a scam and if you believe this is some sort of ognaic “inflation” then you’re a fool and there isn’t much hope for you.
|by Anonymous||reply 89||January 14, 2022 4:13 PM
For everyone trying to blame Biden for Trump's mess, let's not forget that Trump thought he was either going to win or would be able to steal the election sufficient to remain in office, setting up corporations to do exactly what they're doing which is, of course, raising prices dramatically with an excuse that the uneducated masses will accept without the usual pushback. That Trump lost didn't change the corporate plans to gouge huge profits out of consumers; in fact, it's better for corporations because they have a new boogeyman to blame and help eliminate. Just look at the fools on this thread trying their best to stick Biden with responsibility for this corporate cash-grab as though the president has the power to regulate prices... in an environment in which the SCOTUS just stripped OSHA of their ability to regulate businesses requiring vaccinations.
The Republicans set out in the late 1960s to destroy our educational system because it was producing too many reality-based consumers. Teaching people about things like economics, government, history and science was not in Republican interests. Educated people make better decisions for themselves, their communities, and their countries, and what's better for consumers is bad for corporations. The Republicans have been extraordinarily successful as our educational institutions are in a shambles and incapable of graduating people who can read, write and do arithmetic, let alone understand complicated subjects like price gouging in an unregulated oligopoly.
And the deplorables screech on about lack of free babysittting, err I mean school closings, and meanwhile barring educators from teaching children about accurate American history. Coincidence?
|by Anonymous||reply 90||January 14, 2022 4:15 PM
If you think school closings only affect deplorables, you are out of touch. Biden begins his second year as President in a week. The economy is now his for better or worse. It's sad how many people on the left suffer from Trump induced PTSD. How about going for a day without thinking about the moron or saying his name. It's a good first step.
|by Anonymous||reply 91||January 14, 2022 4:20 PM
[quote] Biden begins his second year as President in a week. The economy is now his for better or worse. It's sad how many people on the left suffer from Trump induced PTSD.
AND with a majority in both houses of Congress. If Biden can’t get Sinema and Manchin on board, then maybe he should rethink his strategy. And this is with full support of squishy Republicans like Romney, Collins and Cheney.
|by Anonymous||reply 92||January 14, 2022 4:25 PM
[quote] People like [R43] are going into every thread, posting one or two phrases of dissent, and then leaving an never responding.
If I were r43, I wouldn’t reply to or feed your continuing trolling either.
|by Anonymous||reply 93||January 14, 2022 4:30 PM
Then why post at all? Stop Making stuff up and then you don’t have to worry about being called out for lying.
|by Anonymous||reply 94||January 14, 2022 4:32 PM
I’m really sick of the liars around here. If you have a point to make, do it. But the constant lying and making things up is such a waste of time.
|by Anonymous||reply 95||January 14, 2022 4:36 PM
The inflation walls are closing in on Biden. There is a panic starting about how this will affect the election.
|by Anonymous||reply 96||January 14, 2022 4:37 PM
R96 sounds like the same poster who swore up and down that trump was going to win in 2020. Every day. Including the night of the election. and it was because the left was “too woke.”
|by Anonymous||reply 98||January 14, 2022 4:41 PM
These are economic issues and woke doesn’t have anything to do with it.
Republicans are just desperate to smear Biden.
|by Anonymous||reply 99||January 14, 2022 4:41 PM
How are they going to claim that it’s Biden’s fault that the oils companies priced gouged during Covid?
He tried to stop them. He’s a president not a dictator like Trump tried to be. He even failed at that. Republicans are losers who happen to benefit from the system. They would be nothing without the system that props them up.
|by Anonymous||reply 100||January 14, 2022 4:43 PM
R76, I flush poop, and I don't talk to it.
|by Anonymous||reply 101||January 17, 2022 10:14 PM
Let’s set the record straight now and not wait until November.
|by Anonymous||reply 102||January 18, 2022 10:27 AM
It’s really shameful that working families have to add price gouging to their list of worries including dying from Republican-caused pandemics.
|by Anonymous||reply 103||January 18, 2022 10:40 AM
[quote] It’s really shameful that working families have to add price gouging to their list of worries
Among their list of worries is the impact of the runaway inflation we are experiencing.
|by Anonymous||reply 104||January 18, 2022 1:50 PM
Nobody is buying this inflation crap.
Because wages are not catching up, everyone sees this for what it is: shameless exploitation from out of control corporations.
|by Anonymous||reply 105||January 18, 2022 2:11 PM
[quote]How are they going to claim that it’s Biden’s fault that the oils companies priced gouged during Covid?
Easy. The democrats will let them say it. They don't know how to deliver a message.
They must not mind the republicans lying about them because they allow them to do it, time after time after time
|by Anonymous||reply 106||January 18, 2022 2:26 PM
Dems SUCK at messaging, giving the opposition plenty to work with.
|by Anonymous||reply 107||January 18, 2022 2:38 PM
I don't understand how the president or any other democrat can't say, "prices are up ALL OVER THE WORLD. It's not just America".
|by Anonymous||reply 108||January 18, 2022 4:59 PM
[quote]I want to se all these oil CEOs lined up before Elizabeth Warren.
Or before a firing squad.
|by Anonymous||reply 109||January 18, 2022 5:03 PM
[quote]Talk about Gaslighting.
That's not gaslighting, nor should the word be capitalized, Dora.
|by Anonymous||reply 110||January 18, 2022 5:58 PM