Inflation fell to 2.9% in July, a level not seen since 2021
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Yermom_Is_God — 1 year ago(August 16, 2024 03:59 PM)
Lol! No, I like Crystal, I don't like 9 of the 10 people who use your account.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot -
CrystalRaindrops — 1 year ago(August 17, 2024 12:23 AM)
So this article (from March) is all lies? How do you choose which sources to believe?
The Real Root of High Food Prices: Corporate Greed and Consolidation
In this month’s State of the Union Address, President Joe Biden spoke to what most people in the U.S. are seeing right now — trips to the grocery store are more expensive than ever. The reason? Corporate greed.
“Too many corporations raise their prices to pad their profits, charging you more and more for less and less,” he said.
We couldn’t agree more. In the days before the State of the Union, we found that from 2020 to 2024, the cost to feed a family of four grew 2.5 more than the rate of inflation.
Meanwhile, corporate profits rose five times faster than inflation from 2020 to 2022 — some to record highs.
What’s more, a recent report from the Biden administration shows how big companies benefited from worsening the supply chain problems that raised prices during the pandemic.
This trend has been enabled by lax antitrust enforcement that has let corporate giants get bigger. And as they get bigger, their power grows, too. Luckily, we know just how to tackle this — and so does Biden.
First, let’s take a look at how corporate consolidation works in the American economy. We say markets are “consolidated” when a small handful of very big companies dominate an entire sector. They do this by buying (acquisitions) or joining (mergers) with another company.
Consolidation gives these giant corporations the ability to dictate what goes on in the market, from prices to working conditions. As the president himself said, “Grocers in consolidated markets charge you more because you have nowhere else to shop.” That’s market power.
And corporations are amassing it all across our food system. A few huge players have taken over the markets for dairy, packaged foods, seeds, grocery stores, and more.
Previous governments have failed to stop this trend. Decades ago, the U.S. took consolidation seriously, but more recent administrations have sided with corporations over families. They failed to stop mergers and acquisitions or the unfair practices that big corporations use to cement their reign. As a result, food prices are soaring, while CEOs and shareholders pocket unprecedented profits.
The rest of the article is here:
https://www.foodandwaterwatch.org/2024/03/26/high-food-prices-consolidation/ -
Yermom_Is_God — 1 year ago(August 17, 2024 02:01 AM)
Yes, because grocery store profit margins are miniscule and have actually gone down as a percentage. It is not corporate greed. The only ones who cause inflation is the government because they're the only ones who have the magic money printer. That article is hackery to shield the administration.
How do you choose which sources to believe?
I think you should always be skeptical, especially with opinion pieces, everyone has a bias. But it's just common sense, inflation is nothing more than more dollars chasing the same or fewer products. It isn't corporate greed, that's Commie loser talk.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot -
Yermom_Is_God — 1 year ago(August 15, 2024 11:22 AM)
2.9% is still terrible, almost an entire point higher than the targeted goal, and the very slow decline in month over month inflation is not due to Biden and Harris, it's due to the Fed raising rates for 2 years.
"I am Kamala Harris, my pronouns are she and her, and I am a woman sitting at the table wearing a blue suit." -A fucking idiot
Schrodinger's Cat walks into a bar, and doesn't. 