Did narcissistic sociopaths use a crisis to pursue personal gain?
Obviously yes. Their production costs barely rose but their prices skyrocketed. Here’s a Forbes article from 2022 pointing out that it was increased profit margins causing most of the inflation:
yeah, its not like 90% of the chickens in the country died, so there was no reason for eggs to go from 2 bucks a dozen to 12 bucks a dozen but pure corporate exploitation and greed.
Of course they did. We know they did. All you have to do is go back and read their quarterly earnings calls from 2020 to basically now and they told their shareholders clearly that they were using the pandemic as an excuse to increase profits.
This is just capitalism working as intended. The fact that these price increases are being sold as some kind of abnormality is some real neolib brain in action. It isn’t “greedflation,” it’s literally the same capitalism we’ve lived with for centuries.
It isn’t “greedflation,” it’s literally the same capitalism we’ve lived with for centuries.
You’re both absolutely right and very wrong: it by definition IS greedflation, inflated prices due to greed.
While it is indeed caused by the same capitalist system we’ve lived with for centuries, it’s getting much worse than it has been now that the billionaires and their corporations have realized that there’s no consequences even when their profiteering is so blatant that even the likes of Forbes and WSJ are having to acknowledge what they’ve been able to distract from before.
There is no penalties for collision. Regulation should prevent but since politicians are owned and there’s zero effort at enforcment here we are.
There’s no such thing as greed in capitalism, though. Rather, greed is the understood foundation from which capitalism is based on. It only works when there is greed. Companies shouldn’t avoid raising their prices because they don’t want more money, they’re supposed to (in capitlism). The system only works when they raise their prices as much as the market will bear.
My grevience with the term “Greedflation” popping up so much recently is that it feels like a cop-out from the current administration to ease economic anxiety without replacing or criticizing the overall economic model. It paints price hikes as a one-time, circumstantial “quirk” of our times, instead of the logical realization of capitalism that it is.
And then go one step further and realize it’s always been shit. The only time the world has been great has been when kings and capitalism are on a VERY short leash.
So are they going to have to pay it back or did the FTC make a report for nothing?
… you can’t seriously build a system that is meant to take advantage of every situation, praise if for taking advantage of every situation, align it’s interests in taking advantage of every situation and then be surprised it took advantage of a situation. We should be better than Pikachu.
It’s ethical to steal from these grocery chains.
Isn’t that what they call self checkout?
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… self-care out.
And yes, we definitely should realize how brainwashed we are to always think of the poor extremely rich people.
And that’s why self checkout is no more at the closest grocery store to me.
Everyone keeps saying this is capitalism and its true. Companies squeezing everyone when they’re vulnerable for more profits.
Consumers need protections for things like basic needs so we don’t struggle just to survive.
Food and housing should be protected. Luxury brands can get all the profit they want.
Don’t touch my fucking groceries and rent!
Are you saying human quality of life is more important than (strictly financial) profits?? I’m thought that is blasphemy and that I must shame you for it. How dare.
Is this even news, ofc they did, give them an inch and they always take a mile, war, recessions and sickness are always a profiteering venture for business.
Don’t think of your death as failure; think of it as fun! Don’t think of Wal-Mart’s price hikes as war profiteering, think of them as war… fun!
Death is the only thing we’re promised from life and without it, life would have little meaning. Death is simply a contract fulfillment.
Nothing happens to Corporations around here. It was pretty clear it was greed even before the data hit.
Fuck you talking about? They haven’t come down!
I love all the headlines that declare [report about thing you already figured out years ago] was in fact true, like it’s a fucking surprise. Some would say it’s good to have corroborating data, but it never seems to help and I’m just exhausted being right so dammed often.
See, it’s very simple. You create a massive monopoly/duopoly/triopoly, to undercut, out compete and otherwise dominate small businesses, until they’ve been fazed out… then once it’s only you, and you decide the pricing, then you start screwing around with prices while politicians twiddle their thumbs.
Enshittification in a nutshell.
Split them up. We did it to the phone companies
Okay? Now fucking do something about it.
I’m sure this will result in swift, appropriate actions to hold them accountable. Just let me start holding my breath
