Can the average Joe Sixpack man on the street possibly comprehend this notion of "profits" and how it's driving inflation right now?
While I realize that one little anecdote hardly makes a point as large as this, it's indicative of a very serious problem. I know a woman going through a divorce right now, and came completely unglued at a meeting with her lawyer. because her financial reporting says she makes a significant amount more than fixed expenses every month. This is a big problem when one such as she is trying to get some support $, as she saw it.
The biggest stumbling block in this discussion of 45 minutes or so that should have taken 10 was her complete inability - or unwillingness, but the odds are hugely in favour of the former - to grasp the difference between gross and net.
And, no...she is not the mental midget you might think. She has a responsible full time job, maintains her own residence and vehicle, and is doing a splendid job of raising two daughters.
But, compared to her melt-down-and-sob inability to grasp such an easy concept, thinking that her lawyer must also be working against her, the lack of comprehension in the pairing of profits and inflation is not much of a stretch.
I know for a fact that gas stations are price gouging even with the rise in oil prices.
surprise and fits a long history of the GOPs phony supply/demand mantras. The results of the supply chain disruptions during Covid are obviously being exploited by many, even though there are still legit issues in the supply chain that are still ongoing.
Especially in California, how could anyone forget Dick Cheneys secret meetings with energy honchos and then all of a sudden power plants started limiting production and lying about the supply/demand issue. It was total political manipulation. Its not like only a handful of politicians can figure this out.
to be politicians but they are really just lobbyists for their special masters/oligarchs/interests.
The pittance (a couple of hundred thousand dollars) that they soak from the Treasury is nothing compared to their earnings (probably unreported) that they get from their masters.
Corporations (and the Wall Street crowd) are scared shitless that we're going to figure this out. Once Uncle Sam starts taking his share of the corporate profits, suddenly prices will drop overnight.
the Council of Economic Advisors.
But that would take a great Dem out of the House of Reps, where we NEED every seat we can get.
because I look for potential clues to how the retailer is doing. I watch a lot in Walmart, but also a big eastern US supermarket chain, and a discount store.
What caught my attention is how some prices rise dramatically, while others stay flat or with low increases. We are told it's cost of materials. Then we're told it's cost of shipping. Then it's diesel fuel for trucks. Then it's lack of truck drivers.
Meanwhile the retail price goes up and up and up, then some back off a bit, then some go up again. The % price rise is not uniform across stores or goods.
The tell for me is BANANAs. The price has hardly moved this year. Somehow the weekly shipment of bananas has not been impacted by trucking costs, fuel costs. Maybe it's because bananas are only handled by one or two companies who do their own shipping? I dunno. But why wouldn't fuel impact them?
Retailers are probing the market for resistance from shoppers and will maintain their prices at that point. Don't hoard. It only feeds their greed.
It was $0.59/lb in 2019. Makes you go hmmmmm.
There were inflationary surges in shipping during the pandemic (shipping container went from about $1750 to $20k (according to the tractor dealer), and has dropped to about $2k. To ship from China to the US.
I have no idea what the big ones from the continent cost because I never buy those. Yuck.
have hardly changed in price at all since Covid. Maybe a little, but 10% or a bit more at most. Many other products have nearly doubled over the same timeframe.
Wesson cooking oil, what was $2.49-2.99 in Feb is now 4.69 to 5.69, that just off the shelf this am at a local DISCOUNTER.
the bag at local Safeway. We used to always buy them at $1.97 sale price or thereabouts. This time sale price: $3.99. Same product and size.
Capitalism at its best!?
It's not Biden...it's the venture capital, the billionaire, etc.
releasing more of the oil reserves.
Well, all of you r's and corporations are weaponizing anything that comes to hand to make Dems look bad. R's and corporations are weaponizing energy, food, shelter, health care, education and anything else they think will harm leftists the world over. They faked supply line issues, in case anyone forgot that.
As I washed my dishes, I wondered who will blink first? I doubt if President Biden will, and as we see prices keep going up, and people in general stop spending money, corporate greed is going to come back and bite them on the ass.
The really hard thing about this is being unable to determine what shortages and costs have been driven by climate change, and what is artifically forced by greed and lust for power.
I also wish they knew that Russia is another major contributor to high energy prices, along with our "friends" the Saudis.
Of course for them to know that, we'd have to have the main stream media report on the reasons for inflation, but that will never happen.
They'd rather blame everything on Joe Biden and Congressional Democrats. That fits their business model better as well, because republicans just love cutting taxes on the wealthy and corporations. Democrats have this "radical" idea that they should pay their fair share. Ridiculous, right?
candidates, at every level?
Response to Nevilledog (Original post)
Why is it that the stock prices are falling? The people who own those corporations are losing fortunes and those increased profits are tiny compared to the losses in value of the corporations. To make things worse market indexes are not adjusted for inflation.
Prices are obviously higher because demand exceeds supply.
Do you have numbers to refute Porter's?
Notice tons of money came out of other simple equities too
It happens EVERY single time the US treasuries says its rasing its rates to the levels they have in the last year
Said the #1 reason they weren't drilling was because their stockholders didn't want them to. They liked the dividends and stock prices