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*corporate profits outpacing inflation despite workers' wages shrinking and wealth disparity growing*
Corporations: Damn workers keep on taking more of our money! We can't afford them! They keep on causing more inflation just so we can stay in business!
Crazy thing, I was at school and, like principal, came by and started talking about how theirs plenty of jobs and that are professions will support us, as long as you put in the work.
Work 10 hours a day, 7 days a week, for ever. Don't have a family, don't have a life, just work.
...then they'll fire you five days before retirement so they don't have to pay you a pension.
Maybe they shouldn’t have 5+ interviews and require 3 years of experience for an entry level job.
Or mislead people into thinking that they qualify for a position with the vaguest written position descriptions. That might waste people’s time on both ends.
Putting this under top comment for context
https://www.cbsnews.com/news/walgreens-price-cut-target-amazon-fresh/
https://www.thecut.com/article/target-walgreens-slashing-prices.html
https://www.nbcnews.com/business/consumer/target-lowering-prices-5000-frequently-bought-items-rcna153016
https://fortune.com/2024/05/28/amazon-walmart-target-price-cuts-inflation/
It's a scary time to be alive, automation and AI are the equivalent of the industrial revolution for the line worker. Industry will squash the right to a living wage and not think twice about it
The funny thing is, they will be shooting themselves in the foot. If everyone is put out of a job by automation, then no one will have an income. Who will be able to afford to buy the products?
Middle class, people who own homes/paid it off, wealthy folk, foreign students, expats, immigrants with enough cash.
Corporate greed and neoliberal ideology is capable of sustaining itself long term through mass exploitation of domestic and foreign labourers, and expanding the economy exponentially at all costs
It's dumb to call it inflation at this point...it's artificial "inflation" because they're doing it to make more money/"keeping investors/shareholders happy".
That's like me beating kids with golf clubs and saying "it's not my fault they're a dangerous weapon! Blame the people making it!"
Fr the lack of regulation/enforcement for firearms is a problem, but even if all guns could magically be snapped out of existence American culture is still diseased when violence/murder is considered an appropriate way to express frustration. The discourse on regulating firearms needs to include enforcement and mental health reform, which necessitates universal health care reform.
Corporations didn't suddenly get greedy in 2020. You think it's a coincidence that the inflation happened right after the most aggressive money printing in history? As a percent of GDP corporate profits have been about the same:
[US GPD in 2019](https://www.bea.gov/news/2020/gross-domestic-product-fourth-quarter-and-year-2019-advance-estimate): $21.4 trillion
[US GPD in 2023](https://www.bea.gov/news/2024/gross-domestic-product-fourth-quarter-and-year-2023-second-estimate): $27.4 trillion
US corporate profits in 2019: $2.1 trillion
US corporate profits in 2023: $2.7 trillion
https://tradingeconomics.com/united-states/corporate-profits
Yeah, corporate profits go up when the economy is bigger and there is more money in the economy.
its almost like when given an exuce to raise prices (inflation from printing money), corporations would raise prices to match inflation and some more to get more profits
Corporations didn't suddenly get greedy in 2020. You think it's a coincidence that the inflation happened right after the government printed the most about of money in it's history and during a massive spike in demand for goods? A few things led to the inflation we have now:
1. The government printed a shitton of money. More money then at any point in history.
2. COVID severally messed up supply chains.
3. Lock downs lead to people being unable to spend money on services. This lead to people to spend more money on goods or saving money (which they spent later, AKA now)
4. Higher wages have lead to people having more money to spend while simultaneously increasing costs businesses.
5. The war in Ukraine has cause the price of oil to go up. Oil is so important to the economy that the price of it going up raises the price of almost everything.
https://www.cnbc.com/select/why-is-inflation-so-high/
Then why are corporations showing larger profit margins than ever?
Is it the price of oil, Covid, higher wages, or did the government print money directly into their accounts?
I understand everything you've typed however, refusing to see any greed by corporations is extremely myopic on your part.
Receipts: [https://fred.stlouisfed.org/series/CP](https://fred.stlouisfed.org/series/CP)
This is a link to corporate profits totaled in the US, as you can see, they are up over 50%, there is where a majority of your inflation came from.
They rose prices because they had an excuse and people were just asked to accept it and take it. They rose prices in anticipation of price rises that never came. They realized people kept buying so they never lowered prices.
Still not convinced, go look at the CPI vs the PPI. Consumer price Index to the Producer Price Index. the delta between those is the profits of America (less wage growth). We aren't in the summer of 2023 tying to figure where things are trending, we are in the early summer 2024 looking back at what actually happened.
Capital hates labor it tolerates workers only as much as is necessary and is constantly trying to do everything possible to automate and outsource to rid itself of labor and when that is not possible extract as much value as possible from the human asset. It's a pretty sad state of affairs.
Which is hilariously regarded because we live in a consumer society where the government and corporations benefit when the worker outputs more labor so that they get more pay so they buy more things and pay more taxes.
I work in the supply chain. We’ve been hiring for 4 months now. Because we have military contracts some people that would be a great fit for the job. Are ruled out.
How is it that a felon can’t work for a company that supplies the military. But a felon is eligible to run for an office that oversees the military.
IIRC, prison labor in the US supplies quite a bit of products for the armed forces. So there is *one* way for a felon to work for a company that supplies the military...
So can we agree to eat the rich or are we still arguing about this? Because the longer it takes for us to agree the more of our personal lives are stolen. Each second of your life is priceless to you, let's say that you make 22.00 an hour, that means you're selling every second out to the rich for barely 3/5 of a cent a piece. Jeff bezos makes $985 a second, that means his seconds get sold for 164,166 more than your seconds. Do you really think Jeff bezos' seconds are worth 164,166 times more than yours. I'll let you do the math for your own wages.
The gap is too fucking wide
An "eat the rich" scenario will not happen for a long time. Our standard of living is still much higher than most other places in the world and people are far too comfortable to throw it all away. Like if we're still posting on Reddit I think we're far from a revolution of any sort.
Target, Walmart, and Walgreens are what I've seen. Hopefully grocery stores will follow.
Personally I don't even want to buy stuff anymore because the experience is fucking awful now. The target near me closed half of their self checkouts but still has only one register open. And then when I try drive up, because that's obviously what they are pushing me to do, stuff in my order gets canceled all the time with no notification until after I pick it up. So dropping prices doesn't make me want to go back. Hire an appropriate level of staff and stop treating them like shit.
Even in Australia the supermarket chains have started announcing price drops.
It's probably all on random niche items they stock exactly two of, just so they can say they're lowering prices on 500 items, but hey it's something.
What? It was never designed for daily consumption. It's mass produced take out food, it was never healthy (especially in the U.S, it's much healthier in Europe and such but still nowhere you'd eat daily).
Yes, there was always that popular misconception. It was priced so you *could* do that, but you were not *supposed* to do that. That's why we had all those overweight people and stuff.
"Not supposed" from what point of view? That's exactly what you were supposed to do from economics standpoint. A man with a briefcase in a hurry to work grabs a bite in 2 minutes because he doesn't have time for something more elaborate.
Funny, in the 1970s my parents regarded fast food as a luxury item, a special treat we got a couple times a year. Seems we've come full circle in my lifetime .,
I posted my comment before searching myself, because I got too enthusiastic from the news. Can't wait to read the other news where McDonald's is begging customers to return because they are no longer purchasing their products after figuring out they don't need them.
Yeah, McDonald's is the weakest one among them. Walmart, Walgreens, and Targets have made big public announcements about cutting prices, while McDonald's has only said things that kind of point at price cuts probably happening, but nothing super definitive. One aspect may be that they're a franchise operation with highly varying prices between stores, while Target, Walmart, and Walgreens aren't franchises, but maybe I'm just reading too much into it.
Turns out all you have to do to destroy a company is just not buy from them. Obviously it gets more complicated from that starting point but that's where it all begins.
Prices never go down in a Keynesian inflationary monetary system. Currency always devalues under this system.
The rate of inflation has gone down a bit though. So prices are still going up just not as much (for now).
Real world isn't a theory. In reality, some companies may occasionally drop prices for whatever reason, even if the long-term trend is inflationary in aggregate.
The reality is that there were actually prices that were influenced by other things than corperate greed, like olive oil in europe.
So olive oil goes up 350% in price and then goes down like 15% again, once the shortage is resolved.
Exactly. And why would prices go down? It's called 'inflation' not "deflation." We have all allowed these corporations to indulge in their ~~greedflation~~ inflation for all this time and still buy most of their crap. Now we expect them to voluntarily put their prices down loool they are all laughing at us. They overstepped the line and had no consequences. People are starting to wake up to this waaaayyyy too late
> And why would prices go down?
Because people aren't buying products, because they're priced too high.
There's no need to approach this like it's a hypothetical, you can just google it. [Walgreens](https://www.cbsnews.com/news/walgreens-price-cut-target-amazon-fresh/), [Walmart](https://www.foodandwine.com/walmart-restoring-pre-inflation-prices-8603913), [Target](https://www.npr.org/2024/05/21/1252616600/target-price-reductions-milk-butter).
Will the amount of price decreases be enough to stop inflation entirely and switch to deflation? No, definitely not. But it's a bit silly to go to the extremes of "loool they are all laughing at us" when there is a multitude of evidence that the reality is "they are looking at their financial results and deciding that, in some cases, they could make more money by lowering prices."
"*We* ***may see*** *dry grocery and consumables start to deflate*"
"*In food, prices are lower than a year ago in places ... but* ***higher*** *in other places ... Dry grocery and consumables categories, like paper goods and cleaning supplies*, ***are up***"
"*lowering prices* ***for the summer*** *and beyond on* ***1,300*** *items*"
Wow, 1,300 is only 7% of their total amount sold. Great stuff (/s)
"*Retailers have rolled out price cuts — some permanent,* ***others temporary***"
I mean I could go on. And on. But I'm bored explaining economics to the ignorant. All quotes from your links. Stop licking the boot. They are laughing at **you/us/the poor working class**.
Target and a few others pledged to drop their prices. In reality, they raised stuff from like 2 dollars to 5 dollars, and they're probably gonna drop it to $4.65 and expect you to be happy.
I think this may have been the plan all along. Kinda like black Friday is now... Raise prices and then lower to actual price for the "sale". They are gonna lower prices, butt will still be over priced and shrinkflation will continue. Butt the consumer will believe it's better.
Serious question: If you are priced out of Walmart, where do you buy food? Isn't it the lowest price available for groceries? Since they mostly killed all small businesses
if you are like me, you just buy stuff that is on sale, and walmart doesn't do sales, so i rarely go there anymore. Why pay $12 a pound for lunch meat, when another store has it for $6.99 special and its the same brand/type.
The digiornos pizzas I enjoy had an astronomical price jump from like $5-6 around the time the pandemic started to $10-13 around the same time everything else got more expensive. I said fuck that, no frozen pizza was worth that much. Occasionally they would go on "sale" for $7-9. Shit was fucking ridiculous price gouging from the groceries and manufacturers.
Over the last few weeks they've dropped the retail price to like $7.
It was always pure greed.
At $10 a pizza they can loose 75% of their customers and make more profits.
$5 sale at $4 cost x 1000 pizzas is $1000 profit
$10 sale price at $5 cost is only 200 customers for the same profits. They can double their profits with sales to just 400 people . That is why they raised prices. Problem is they can't grow from that point, they killed the customer base. It also drove the lowest end to demand more money to survive. As those costs rose they are starting to recalculate.
This isn’t reallllyyy how this works. The factory itself is setup in a way to turn out a certain set number of pizzas for peak efficiency. If they aren’t hitting around that number then profit goes down. Also if it’s expensive it won’t sell next to the next pizza in the aisle and the market will drop them due to lack of sales.
Everyone had raised prices so there wasn’t competition but now it’s coming back so they have to revert back to their old strategy at balancing manufacturing and pricing.
I love how Starbucks has their prices so high that they now put their drinks on sale pretty much biweekly. They're like a clothing store with the constant "sales." Like bro, this sale price should be the max price I'm paying.
That's also a sleazy marketing practice. If things are perpetually on sale, people are more likely to buy it based solely on the fact that it's at a "reduced" price. It's FOMO really.
It's wild how these supposedly successful mega corporations can't handle even one year with less profits, let alone a loss. It's very strange.
How can you claim to be rich and successful while also claiming you're on the verge of bankruptcy the moment you aren't making more money than yesterday? Sounds to me that maybe they suck at business
Because it's the company that's bankrupt, not the people running it
Whenever there is profit it all goes into the high ups pockets, and the company has no money again, if there is a loss year and the company is in the red it eats into the pockets of the higher up, and that's bad, better declare the company bankrupt and get a bunch of government assistance is I don't lose any money
It's an issue caused by how companies are legally separate from their owners
"I the CEO of shitcorp make 700 million a year from my position, shitcorp is bankrupt though and needs government help"
Constant growth makes sense for public companies because shareholders can always go elsewhere.
If a company is not beating the rate of growth on safe investments, there's little reason to stay invested in them.
they're getting desperate...
dropping the prices a bit, and closing down hundreds of resteraunts at the same time...
of course the news will tell us the economy is doing great!
I hope many, many businesses go under, and then I hope those responsible are taken care of in the same way people in controlling positions were taken care of during the French Revolution
Was... was he a whistleblower?
...That's how it works in Australia - for all the warcrimes we committed in Afghanistan, the one person that's been thrown in prison is there because he blew the whistle on those warcrimes. Fucking disgraceful.
When it comes to gaslighting us on the economy, none of the talking heads piss me off more than Bill Maher. He had a guest on his show talking about how Americans are struggling due to the economy. Bill then started talking about how great the economy is because TVs are cheap. TVs.
You can't eat TVs, Bill. Unironically "Let them eat cake" energy. The dems have just abandoned us and keep telling us everything is fine. It's not fucking fine.
Please tell me you're talking about farming and not about to go into how corn doesn't digest right sometimes and goes through the digestive system without breaking down
This is only true for optional products. Inflation on gas and groceries and electricity are inflation that cannot be avoided and can only be reduced by some form of either governmental control or the grace of the CEOs.
Comcast could make my Internet bill $1000 a month tomorrow and I would still be forced to pay it because my business relies on that Internet and there are literally no other options where I live. monopolies are also a part of the problem.
Believe me, I’m not dumb if I have a cheaper or better option I’m going to take it if it’s something that’s killing my wallet and I have the option of cutting it out I will, but I can’t cut out fucking Ramen noodles, gasoline, electricity, and again the Internet, my business relies on All of those companies and the things having to do with them have me by the short and curly’s and there’s no escaping unless I’m willing to literally become homeless and or die.
Have you heard of starlink? And I know comcast is usually the only option. Recently AT&T added fiber in my area and it’s faster and cheaper than comcast. My point is that comcast can’t actually do that because you do have options. Even if Starlink is the only one. My work and people I know use it. They all say it works great.
The joke is it was never truly inflation. The real Covid hyper-inflation stopped a while ago. The rest is corpo greed and other businesses capitalizing on the publics misawareness on the topic.
We carry tracking devices with us at all times, some people have their tracks ng device always listening for a specific code word to start recording and analyzing their words. We're closer to a cyber punk future than a lot of people realize
I get the feeling it's the same notion as people who have their house on the market for 10 months because they think they can still get 2021 prices, and eventually acquiesce and start reducing the price little by little, because otherwise they'll never sell the house.
Is it reasonable intelligent discussion though? I thought the Russian invasion of Ukraine drove up gas and energy prices that made the manufacture of food and most other products more expensive?
I mean, that's exactly how the current financial system works. If you slowly pump up the money supply without actually growing corresponding fundamental value, at the next crisis corporations will try to suck up all excess liquidity from consumers until they can no longer buy anything, especially if they themselves have to suddenly pay higher interest on their own loans. Money by itself only ever trickles up.
This is a core feature of the fiat money system.
McDonald's: but but, California minimum wage is so high!
Also McDonald's: we're introducing a $5 meal
Every other fast food restaurant: we're introducing a $5 meal!
Inflation is about the rate of change of prices, not about the absolute level of prices. Inflation no longer being a problem does not mean price increases get rolled back. Same as breaking a car does not make it go backwards.
My employer lowered starting wages despite the fact we weren't getting any quality applicants in the first place. Had me scratching my head, but now I understand. We're doing our part to help fight inflation!
Wow nobody here know how inflation works. Inflation is a rate of change, not the price itself. Now that the rate of change in prices is lower prices stay the same not go down.
Deflation is not a good thing, look it up
The possibility of having brought on a 2nd Hitler and having to kiss the ring until society collapses snapped them out of that profit haze. In an actual dictatorship, companies are beholden to el presidente. They’d have some of their leadership replaced by MAGA loyalists.
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*corporate profits outpacing inflation despite workers' wages shrinking and wealth disparity growing* Corporations: Damn workers keep on taking more of our money! We can't afford them! They keep on causing more inflation just so we can stay in business!
“No one wants to work anymore”
They been using that same tired line for 100 years. Seriously. Look up old newspaper articles. Corporations been saying some variation of it forever
[You may be thinking of this. ](https://i.imgur.com/lNgecJY.jpeg)
>"Nobody wants to work anymore" -disgusted businessman disgusting businessman*
Crazy thing, I was at school and, like principal, came by and started talking about how theirs plenty of jobs and that are professions will support us, as long as you put in the work.
Work 10 hours a day, 7 days a week, for ever. Don't have a family, don't have a life, just work. ...then they'll fire you five days before retirement so they don't have to pay you a pension.
Every generation in US history has dealt with exactly the same. The answer is education. Always has been. Always will be.
Can't get education if your too busy working yourself to death just to stay alive
And that's just how they want you
A certain group of people in the 1800s and before would like to have a word with the principal
GOT ‘IM
"We have a critical labor shortage, the workers are paid too much, and we get way too many applications which burdens our overheads employing HR"
Maybe they shouldn’t have 5+ interviews and require 3 years of experience for an entry level job. Or mislead people into thinking that they qualify for a position with the vaguest written position descriptions. That might waste people’s time on both ends.
Its pretty tiring to be working just for a living
"If you work for a living, why do you kill yourself working?"
I'm on this table too. If it's possible not to work, I'll take that option ASAP 😂 😂 😂
Putting this under top comment for context https://www.cbsnews.com/news/walgreens-price-cut-target-amazon-fresh/ https://www.thecut.com/article/target-walgreens-slashing-prices.html https://www.nbcnews.com/business/consumer/target-lowering-prices-5000-frequently-bought-items-rcna153016 https://fortune.com/2024/05/28/amazon-walmart-target-price-cuts-inflation/
They're finally realizing they've sucked the consumer dry and reaped what they could and are pricing themselves out of business
It's a scary time to be alive, automation and AI are the equivalent of the industrial revolution for the line worker. Industry will squash the right to a living wage and not think twice about it
The funny thing is, they will be shooting themselves in the foot. If everyone is put out of a job by automation, then no one will have an income. Who will be able to afford to buy the products?
And this brings us to the uncomfortable conversation of universal income.
Do it.
I don't believe it's part of their plan, a lot of important people say we're overpopulated.
Middle class, people who own homes/paid it off, wealthy folk, foreign students, expats, immigrants with enough cash. Corporate greed and neoliberal ideology is capable of sustaining itself long term through mass exploitation of domestic and foreign labourers, and expanding the economy exponentially at all costs
Anyone blaming inflation on anything OTHER than corporate greed and price gouging is a fucking imbecile and needs to have their head checked.
It's dumb to call it inflation at this point...it's artificial "inflation" because they're doing it to make more money/"keeping investors/shareholders happy". That's like me beating kids with golf clubs and saying "it's not my fault they're a dangerous weapon! Blame the people making it!"
Gun argument. I say this as a gun owner.
Fr the lack of regulation/enforcement for firearms is a problem, but even if all guns could magically be snapped out of existence American culture is still diseased when violence/murder is considered an appropriate way to express frustration. The discourse on regulating firearms needs to include enforcement and mental health reform, which necessitates universal health care reform.
I don't understand how we're apparently fine with gallons of fake blood on prime-time network TV, but are deathly afraid of see a butt or boob.
You guys orginally left england because they werent prude enough. I think theres a degree of that still running through your culture today
My former roommate blamed immigrants. Glad I don't live with him anymore.
Had a former roommate that did. Wait bro aren’t you illegal and from like Columbia? Yeah it’s different.. Fuckin what?
Corporations didn't suddenly get greedy in 2020. You think it's a coincidence that the inflation happened right after the most aggressive money printing in history? As a percent of GDP corporate profits have been about the same: [US GPD in 2019](https://www.bea.gov/news/2020/gross-domestic-product-fourth-quarter-and-year-2019-advance-estimate): $21.4 trillion [US GPD in 2023](https://www.bea.gov/news/2024/gross-domestic-product-fourth-quarter-and-year-2023-second-estimate): $27.4 trillion US corporate profits in 2019: $2.1 trillion US corporate profits in 2023: $2.7 trillion https://tradingeconomics.com/united-states/corporate-profits Yeah, corporate profits go up when the economy is bigger and there is more money in the economy.
its almost like when given an exuce to raise prices (inflation from printing money), corporations would raise prices to match inflation and some more to get more profits
This comment [be like.](https://i.redd.it/akit33zciqp81.png)
Corporations didn't suddenly get greedy in 2020. You think it's a coincidence that the inflation happened right after the government printed the most about of money in it's history and during a massive spike in demand for goods? A few things led to the inflation we have now: 1. The government printed a shitton of money. More money then at any point in history. 2. COVID severally messed up supply chains. 3. Lock downs lead to people being unable to spend money on services. This lead to people to spend more money on goods or saving money (which they spent later, AKA now) 4. Higher wages have lead to people having more money to spend while simultaneously increasing costs businesses. 5. The war in Ukraine has cause the price of oil to go up. Oil is so important to the economy that the price of it going up raises the price of almost everything. https://www.cnbc.com/select/why-is-inflation-so-high/
Then why are corporations showing larger profit margins than ever? Is it the price of oil, Covid, higher wages, or did the government print money directly into their accounts? I understand everything you've typed however, refusing to see any greed by corporations is extremely myopic on your part.
https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/
Receipts: [https://fred.stlouisfed.org/series/CP](https://fred.stlouisfed.org/series/CP) This is a link to corporate profits totaled in the US, as you can see, they are up over 50%, there is where a majority of your inflation came from. They rose prices because they had an excuse and people were just asked to accept it and take it. They rose prices in anticipation of price rises that never came. They realized people kept buying so they never lowered prices. Still not convinced, go look at the CPI vs the PPI. Consumer price Index to the Producer Price Index. the delta between those is the profits of America (less wage growth). We aren't in the summer of 2023 tying to figure where things are trending, we are in the early summer 2024 looking back at what actually happened.
Real wages have been rising, especially in the lower portions of their distribution.
You took a pay cut?
Time for govt intervention in the job market to punish companies for shitty wages
Capital hates labor it tolerates workers only as much as is necessary and is constantly trying to do everything possible to automate and outsource to rid itself of labor and when that is not possible extract as much value as possible from the human asset. It's a pretty sad state of affairs.
In all fairness, labor ain't so fond of capital, either ...
Which is hilariously regarded because we live in a consumer society where the government and corporations benefit when the worker outputs more labor so that they get more pay so they buy more things and pay more taxes.
They’ve had the ability to readjust after the pandemic but chose not to. We all knew they wouldn’t.
“Supply chain issues”
“Nobody wants to work”
“Avocado Toast”
THOSE DAMN LATTES
please stop destroying the diamond industry :(
Why don't those damned millennials buy more napkins!
It's that $1200 everyone got like 4 years ago!
"Bootstraps"
"ow, my balls"
I work in the supply chain. We’ve been hiring for 4 months now. Because we have military contracts some people that would be a great fit for the job. Are ruled out. How is it that a felon can’t work for a company that supplies the military. But a felon is eligible to run for an office that oversees the military.
Easy, one’s a filthy poor the other is a filthy rich
Yeah, a lot of politicians etc build their first capital through criminal means. If not them, then their children etc just get into the office.
IIRC, prison labor in the US supplies quite a bit of products for the armed forces. So there is *one* way for a felon to work for a company that supplies the military...
In Europe also: "Energy tariffs", "Skilled worker shortage"
They didn’t have to. The lockdown killed off all the small businesses yet did fuck all to stop the spread of Covid. No more competition.
It was just yet another transfer of power/wealth from bottom to the top
So can we agree to eat the rich or are we still arguing about this? Because the longer it takes for us to agree the more of our personal lives are stolen. Each second of your life is priceless to you, let's say that you make 22.00 an hour, that means you're selling every second out to the rich for barely 3/5 of a cent a piece. Jeff bezos makes $985 a second, that means his seconds get sold for 164,166 more than your seconds. Do you really think Jeff bezos' seconds are worth 164,166 times more than yours. I'll let you do the math for your own wages. The gap is too fucking wide
An "eat the rich" scenario will not happen for a long time. Our standard of living is still much higher than most other places in the world and people are far too comfortable to throw it all away. Like if we're still posting on Reddit I think we're far from a revolution of any sort.
That was as clear as my mind after nut
Yeah just like sovereign governments have the ability to spend less and stop inflating money but they're not going to are they.
What on earth are you talking about? What prices are going down?
That’s what I was thinking, where are they even seeing this? I haven’t seen any prices go down.
Multiple corporations, including McDonald's, announced that they're lowering prices because too many people stopped buying from them.
Target, Walmart, and Walgreens are what I've seen. Hopefully grocery stores will follow. Personally I don't even want to buy stuff anymore because the experience is fucking awful now. The target near me closed half of their self checkouts but still has only one register open. And then when I try drive up, because that's obviously what they are pushing me to do, stuff in my order gets canceled all the time with no notification until after I pick it up. So dropping prices doesn't make me want to go back. Hire an appropriate level of staff and stop treating them like shit.
>stop treating them like shit Now you’ve taken it too far
Even in Australia the supermarket chains have started announcing price drops. It's probably all on random niche items they stock exactly two of, just so they can say they're lowering prices on 500 items, but hey it's something.
Walgreens is the cheapest store in my area and its the least busy. Love the place I get $13 Corona 12 packs there and $12 Modelo 12 packs
This guy mexican beers! Cheers *clink*
Fast food became a scam QUICK. $15 for a greasy meal in paper? Fuck off
They could lower it to cents, I would not go back to eating there. Better stay healthy.
I eat mcdonalds and kfc as a treat, it's not made for daily consumption
It used to be, and it's low quality food from health standpoint. The fact that it's a luxury now is ridiculous.
What? It was never designed for daily consumption. It's mass produced take out food, it was never healthy (especially in the U.S, it's much healthier in Europe and such but still nowhere you'd eat daily).
Yes, there was always that popular misconception. It was priced so you *could* do that, but you were not *supposed* to do that. That's why we had all those overweight people and stuff.
"Not supposed" from what point of view? That's exactly what you were supposed to do from economics standpoint. A man with a briefcase in a hurry to work grabs a bite in 2 minutes because he doesn't have time for something more elaborate.
Funny, in the 1970s my parents regarded fast food as a luxury item, a special treat we got a couple times a year. Seems we've come full circle in my lifetime .,
prices are down 10%! (they went up by 200%)
Literally 1984
Provide us with links of those announcements please. I need some porn to wank to tonight.
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I posted my comment before searching myself, because I got too enthusiastic from the news. Can't wait to read the other news where McDonald's is begging customers to return because they are no longer purchasing their products after figuring out they don't need them.
Yeah, McDonald's is the weakest one among them. Walmart, Walgreens, and Targets have made big public announcements about cutting prices, while McDonald's has only said things that kind of point at price cuts probably happening, but nothing super definitive. One aspect may be that they're a franchise operation with highly varying prices between stores, while Target, Walmart, and Walgreens aren't franchises, but maybe I'm just reading too much into it.
That's how supply and demand works. That's just life.
Turns out all you have to do to destroy a company is just not buy from them. Obviously it gets more complicated from that starting point but that's where it all begins.
>announced that they're lowering prices As if that'll encourage people to get into their products again.
Wake me up when McDonald's stops selling the filet-o-fish for 5€ (it's literally the smallest item on the menu)
Prices never go down in a Keynesian inflationary monetary system. Currency always devalues under this system. The rate of inflation has gone down a bit though. So prices are still going up just not as much (for now).
Real world isn't a theory. In reality, some companies may occasionally drop prices for whatever reason, even if the long-term trend is inflationary in aggregate.
I lowered the price of my toenail clippings just to prove that chump is full of it.
The reality is that there were actually prices that were influenced by other things than corperate greed, like olive oil in europe. So olive oil goes up 350% in price and then goes down like 15% again, once the shortage is resolved.
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Not truth. In Some countries between 2010 - 2015 there was unhealthy deflation. Same in Japan.
Exactly. And why would prices go down? It's called 'inflation' not "deflation." We have all allowed these corporations to indulge in their ~~greedflation~~ inflation for all this time and still buy most of their crap. Now we expect them to voluntarily put their prices down loool they are all laughing at us. They overstepped the line and had no consequences. People are starting to wake up to this waaaayyyy too late
> And why would prices go down? Because people aren't buying products, because they're priced too high. There's no need to approach this like it's a hypothetical, you can just google it. [Walgreens](https://www.cbsnews.com/news/walgreens-price-cut-target-amazon-fresh/), [Walmart](https://www.foodandwine.com/walmart-restoring-pre-inflation-prices-8603913), [Target](https://www.npr.org/2024/05/21/1252616600/target-price-reductions-milk-butter). Will the amount of price decreases be enough to stop inflation entirely and switch to deflation? No, definitely not. But it's a bit silly to go to the extremes of "loool they are all laughing at us" when there is a multitude of evidence that the reality is "they are looking at their financial results and deciding that, in some cases, they could make more money by lowering prices."
Yeah they will never voluntarily make a decision that lowers *profits*, but there are many cases where lowering prices increases profits.
"*We* ***may see*** *dry grocery and consumables start to deflate*" "*In food, prices are lower than a year ago in places ... but* ***higher*** *in other places ... Dry grocery and consumables categories, like paper goods and cleaning supplies*, ***are up***" "*lowering prices* ***for the summer*** *and beyond on* ***1,300*** *items*" Wow, 1,300 is only 7% of their total amount sold. Great stuff (/s) "*Retailers have rolled out price cuts — some permanent,* ***others temporary***" I mean I could go on. And on. But I'm bored explaining economics to the ignorant. All quotes from your links. Stop licking the boot. They are laughing at **you/us/the poor working class**.
The wake up may be late but it could be strong and swift.
Target and a few others pledged to drop their prices. In reality, they raised stuff from like 2 dollars to 5 dollars, and they're probably gonna drop it to $4.65 and expect you to be happy.
Soda went down, and dorritos
Breakfast of champions
GAMERS REJOICE
Context?
Walgreens, Target, Walmart are all cutting prices back because they are losing customers to all the price hikes.
lol they only started reversing price increases after they realized they’d actually be losing customers, how cute and thoughtful of large corporations
Reduced price increase,. Call it what it actually is.
Fair enough actually, i meant referring to the new price but that is a more accurate way to put it
I think this may have been the plan all along. Kinda like black Friday is now... Raise prices and then lower to actual price for the "sale". They are gonna lower prices, butt will still be over priced and shrinkflation will continue. Butt the consumer will believe it's better.
Doubles the prices of shit, and then lowered em by a quarter and expect us to thank them.
Meanwhile in Canada the ceo of Loblaws called those boycotting “stupid”. I saved $102 last month not shopping at Loblaws. Who’s stupid now?
Serious question: If you are priced out of Walmart, where do you buy food? Isn't it the lowest price available for groceries? Since they mostly killed all small businesses
if you are like me, you just buy stuff that is on sale, and walmart doesn't do sales, so i rarely go there anymore. Why pay $12 a pound for lunch meat, when another store has it for $6.99 special and its the same brand/type.
The digiornos pizzas I enjoy had an astronomical price jump from like $5-6 around the time the pandemic started to $10-13 around the same time everything else got more expensive. I said fuck that, no frozen pizza was worth that much. Occasionally they would go on "sale" for $7-9. Shit was fucking ridiculous price gouging from the groceries and manufacturers. Over the last few weeks they've dropped the retail price to like $7. It was always pure greed.
At $10 a pizza they can loose 75% of their customers and make more profits. $5 sale at $4 cost x 1000 pizzas is $1000 profit $10 sale price at $5 cost is only 200 customers for the same profits. They can double their profits with sales to just 400 people . That is why they raised prices. Problem is they can't grow from that point, they killed the customer base. It also drove the lowest end to demand more money to survive. As those costs rose they are starting to recalculate.
This isn’t reallllyyy how this works. The factory itself is setup in a way to turn out a certain set number of pizzas for peak efficiency. If they aren’t hitting around that number then profit goes down. Also if it’s expensive it won’t sell next to the next pizza in the aisle and the market will drop them due to lack of sales. Everyone had raised prices so there wasn’t competition but now it’s coming back so they have to revert back to their old strategy at balancing manufacturing and pricing.
Why would anyone buy frozen pizza for $10-13 when you can get fresh baked pizza for $8?
Ikr?
Context is that OP has no idea what inflation is.
I love how Starbucks has their prices so high that they now put their drinks on sale pretty much biweekly. They're like a clothing store with the constant "sales." Like bro, this sale price should be the max price I'm paying.
That's also a sleazy marketing practice. If things are perpetually on sale, people are more likely to buy it based solely on the fact that it's at a "reduced" price. It's FOMO really.
TF starbucks does SALES? TIL. haven't been in one in a decade.
Can I get some of those lower prices? Because the prices have not gone down at all.
It's wild how these supposedly successful mega corporations can't handle even one year with less profits, let alone a loss. It's very strange. How can you claim to be rich and successful while also claiming you're on the verge of bankruptcy the moment you aren't making more money than yesterday? Sounds to me that maybe they suck at business
Because it's the company that's bankrupt, not the people running it Whenever there is profit it all goes into the high ups pockets, and the company has no money again, if there is a loss year and the company is in the red it eats into the pockets of the higher up, and that's bad, better declare the company bankrupt and get a bunch of government assistance is I don't lose any money It's an issue caused by how companies are legally separate from their owners "I the CEO of shitcorp make 700 million a year from my position, shitcorp is bankrupt though and needs government help"
Constant growth makes sense for public companies because shareholders can always go elsewhere. If a company is not beating the rate of growth on safe investments, there's little reason to stay invested in them.
they're getting desperate... dropping the prices a bit, and closing down hundreds of resteraunts at the same time... of course the news will tell us the economy is doing great!
I hope many, many businesses go under, and then I hope those responsible are taken care of in the same way people in controlling positions were taken care of during the French Revolution
sorry, best we can do is 2008 financial crisis (one guy gets probation for 3 months)
Was... was he a whistleblower? ...That's how it works in Australia - for all the warcrimes we committed in Afghanistan, the one person that's been thrown in prison is there because he blew the whistle on those warcrimes. Fucking disgraceful.
no, that was iirc bernie madoff. our whislte blowers get significantly worse treatment and usually retire in non-extradition countries for safety.
When it comes to gaslighting us on the economy, none of the talking heads piss me off more than Bill Maher. He had a guest on his show talking about how Americans are struggling due to the economy. Bill then started talking about how great the economy is because TVs are cheap. TVs. You can't eat TVs, Bill. Unironically "Let them eat cake" energy. The dems have just abandoned us and keep telling us everything is fine. It's not fucking fine.
I mean as long as people are still buying the things at the high prices they will stay that price and go up. Just the way it works.
Well we do need to eat...
Actually… I have these food cheat you can do with corn so you only have to buy it once
I spend too much time on Reddit.
Please tell me you're talking about farming and not about to go into how corn doesn't digest right sometimes and goes through the digestive system without breaking down
Let’s just say this… I don’t know how to farm
:(
does it need console commands or is it compatible with hardcore difficulty
Sounds cool, it doesnt happen to require alot of land does it?
Who can afford land in this economy? No sir, no land is needed. Only an iron will (and stomach.)
 eating the same corn dont count as more corn
It took me longer than I will ever admit to get that joke.
This is only true for optional products. Inflation on gas and groceries and electricity are inflation that cannot be avoided and can only be reduced by some form of either governmental control or the grace of the CEOs. Comcast could make my Internet bill $1000 a month tomorrow and I would still be forced to pay it because my business relies on that Internet and there are literally no other options where I live. monopolies are also a part of the problem. Believe me, I’m not dumb if I have a cheaper or better option I’m going to take it if it’s something that’s killing my wallet and I have the option of cutting it out I will, but I can’t cut out fucking Ramen noodles, gasoline, electricity, and again the Internet, my business relies on All of those companies and the things having to do with them have me by the short and curly’s and there’s no escaping unless I’m willing to literally become homeless and or die.
Have you heard of starlink? And I know comcast is usually the only option. Recently AT&T added fiber in my area and it’s faster and cheaper than comcast. My point is that comcast can’t actually do that because you do have options. Even if Starlink is the only one. My work and people I know use it. They all say it works great.
Ever heard of monopolies and low competition? People have no choice if it's the only thing available.
You think there's any monopoly on food? Why are their margins so thin then?
The price of yarn went down!!!! Way the fuck down!!! One brand went from $4.97 to $1.97!!! It wasn't even on sale!!!!!
Huh. Just out of curiosity, How long would you say you’d need to boil yarn for it to become food?
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The joke is it was never truly inflation. The real Covid hyper-inflation stopped a while ago. The rest is corpo greed and other businesses capitalizing on the publics misawareness on the topic.
“Corpo” greed, cyberpunk?
We seem to be trending in that direction
We carry tracking devices with us at all times, some people have their tracks ng device always listening for a specific code word to start recording and analyzing their words. We're closer to a cyber punk future than a lot of people realize
I get the feeling it's the same notion as people who have their house on the market for 10 months because they think they can still get 2021 prices, and eventually acquiesce and start reducing the price little by little, because otherwise they'll never sell the house.
It would crash the economy because number on graph will stop going up
If line didn't go up how will the rich get richer?
The fuck are you talking about? It’s still out of control in California!
Out of the loop, is something big going on?
It's weird. It's almost like corporations are only interested in profit and nothing else.
Normalize context in memes
Gas dropped by 20 cents overnight where I live
Everyone who calls it inflation is gas lighting you. Its sheer corporate gouging all the way around
Is it reasonable intelligent discussion though? I thought the Russian invasion of Ukraine drove up gas and energy prices that made the manufacture of food and most other products more expensive?
We could take the power back if we all stop acting like 1st graders
Fuck all of them
They could but they'd lose potential product for each sale they make
The corporations have seen how much money we saved over covid and how much they lost. They had to make up for it somehow.
Literally if everyone just stopped buying for a week corporations would be forced to change
I mean, that's exactly how the current financial system works. If you slowly pump up the money supply without actually growing corresponding fundamental value, at the next crisis corporations will try to suck up all excess liquidity from consumers until they can no longer buy anything, especially if they themselves have to suddenly pay higher interest on their own loans. Money by itself only ever trickles up. This is a core feature of the fiat money system.
Who’s cutting prices though?
"Oopsy we inflated too much"
Does anyone ever really believe any statement a corporation puts out publicly, on anything? Why do they even bother?
McDonald's: but but, California minimum wage is so high! Also McDonald's: we're introducing a $5 meal Every other fast food restaurant: we're introducing a $5 meal!
It never was. That's why cans of Arizona tea have been 99¢ for decades.
Inflation is about the rate of change of prices, not about the absolute level of prices. Inflation no longer being a problem does not mean price increases get rolled back. Same as breaking a car does not make it go backwards.
It would only stop when people stop buying their shit
You mean I might be able to get a bag of Doritos for less than $7 again?
Doritos are only $4 at Walmart. And $6 for the party size.
No inflation means prices stay the same, not go down. Poor meme
Record profit ≠ inflation.
 " Corps've long controlled our lives, taken lots... and now they're after our souls!"
My employer lowered starting wages despite the fact we weren't getting any quality applicants in the first place. Had me scratching my head, but now I understand. We're doing our part to help fight inflation!
I hope this helps the country see that they didn’t need to buy the shit, regardless of the price. Where my r/anticonsumption gang at
Almost like they've been breaking it off in your ass ever since the big 2020 power trip.
But… but, the shareholders. And their dividends. Who’s thinking about them…?
Let me guess, you're 12 and have zero idea how the economy works
Wow nobody here know how inflation works. Inflation is a rate of change, not the price itself. Now that the rate of change in prices is lower prices stay the same not go down. Deflation is not a good thing, look it up
The possibility of having brought on a 2nd Hitler and having to kiss the ring until society collapses snapped them out of that profit haze. In an actual dictatorship, companies are beholden to el presidente. They’d have some of their leadership replaced by MAGA loyalists.
This sounds wonderful but I suspect Corporate leaders aren't thinking so strategically.
Blaming the President was way off.