INFLATION--FED announces 0.50% interest rate cut

[Chop]

Corporate Greed the 'Real Culprit Behind Rising Prices,' Researchers Say

"Amid mounting data showing that people are paying more for food at grocery stores around the United States, a new analysis out Wednesday reveals how corporate power is "the real culprit behind rising prices at the checkout line."

"Kroger, a grocery mega-chain, spent the summer of 2021 gloating that "a little bit of inflation is always good in our business"

Charging consumers more for supermarket staples has lined the pockets of Kroger executives and shareholders, even as median worker pay decreased by 8% in 2020. That same year, the Kroger CEO earned 909 times what the median worker earned.

While the company was publicly calling their workers heroes, they were simultaneously cutting essential hazard pay for employees during a global pandemic. Meanwhile, the company spent $1.498 billion on stock buybacks between April 2020 and July 2021 to enrich its shareholders.

 

[Chop]

"I told you so..."

 

[Chop]

 

[Chop]

There are some safety valves for folks who really need to save on their groceries. There are certain crappy grocery stores that sell food for really cheap. I'm talking cheaper than a Wal-Mart Neighborhood Market even.

Aldi
Fiesta
Win-Co
Elrods (Dallas-Fort Worth) -- looks like it time warped from the early 1970s. It's CHEAP.

There's also La Michoacana, which has plenty of Mexican and Central American specialty items, but also sells "regular" groceries on the cheap. I occasionally drop by one of these places for those pastries with the pink crusty stuff on top.

 

[ViperHorn]

All well and good, but he is going out of his way to push energy pricing up.

 

[nashhorn]

Well crap! Now even my berries are going up at Costco. S**t!

 

[nashhorn]

Biden et al are all *** Holes.

 

[Vol Horn 4 Life]

Corporate Greed the 'Real Culprit Behind Rising Prices,' Researchers Say

"Amid mounting data showing that people are paying more for food at grocery stores around the United States, a new analysis out Wednesday reveals how corporate power is "the real culprit behind rising prices at the checkout line."

"Kroger, a grocery mega-chain, spent the summer of 2021 gloating that "a little bit of inflation is always good in our business"

Charging consumers more for supermarket staples has lined the pockets of Kroger executives and shareholders, even as median worker pay decreased by 8% in 2020. That same year, the Kroger CEO earned 909 times what the median worker earned.

While the company was publicly calling their workers heroes, they were simultaneously cutting essential hazard pay for employees during a global pandemic. Meanwhile, the company spent $1.498 billion on stock buybacks between April 2020 and July 2021 to enrich its shareholders.

Articles like this are useless garbage. I can assure you that at least here in Texas grocery profit % is as low as I've ever seen it as costs are rising much faster than retails and labor expense is up about 20% compared to 4 years ago.

Remember the old saying that grocery retail is a penny business? Meaning making a penny for every dollar spent. Well, it used to actually be about a two penny business, but now it's down to about a penny. However with costs and retails sky rocketing that 1% profit is about the same as 2%. Go much lower and you'll start seeing expansion to needed areas stop.

 

[Monahorns]

Articles like this are useless garbage. I can assure you that at least here in Texas grocery profit % is as low as I've ever seen it as costs are rising much faster than retails and labor expense is up about 20% compared to 4 years ago.

Remember the old saying that grocery retail is a penny business? Meaning making a penny for every dollar spent. Well, it used to actually be about a two penny business, but now it's down to about a penny. However with costs and retails sky rocketing that 1% profit is about the same as 2%. Go much lower and you'll start seeing expansion to needed areas stop.

Yes. Prices through all the multiple levels of the supply chain have gone up.

 

[nashhorn]

They aren’t useless - Biden loves them and there are numerous followers that will buy into it.

 

[Vol Horn 4 Life]

They aren’t useless - Biden loves them and there are numerous followers that will buy into it.

You're right. I can't tell you how many times I read "greedy corporations" comments primarily from people who have no idea what they're talking about. You can't debate them either, because nothing will change their mind. They live paycheck to paycheck because of greedy corporations. That's it.

 

[nashhorn]

You can't debate them either, because nothing will change their mind.

Amen, especially facts.

 

[mchammer]

Nat gas under $2 per mmbtu. Dirt cheap.

 

[Chop]

Nat gas under $2 per mmbtu. Dirt cheap.

Good for the consumers at least.

With natural gas prices this low, I suppose Texas consumers should expect nearly all-time low home gas bills, huh.........?

 

[Run Pincher]

Good for the consumers at least.

With natural gas prices this low, I suppose Texas consumers should expect nearly all-time low home gas bills, huh.........?

Pretty irrelevant if you ask me. Gas has always been my lowest bill, even when I lived up north, never more than $50/mo, and that includes the monthly service fee. When the weather is mild I don't use more than $2 worth of gas/mo.

Now the ridiculous $200/mo water bill in the summer when I only water enough to keep the grass alive is another story. And my lowest water bill is significantly more than my highest gas bill.

Yes, it may make a difference for some large businesses, but for the average household I don't see how.

 

[mchammer]

Low Nat gas will help with the power bill this summer.

 

[Chop]

Low Nat gas will help with the power bill this summer.

It should. I think they buy and hedge out a number of months.

 

[Vol Horn 4 Life]

Good for the consumers at least.

With natural gas prices this low, I suppose Texas consumers should expect nearly all-time low home gas bills, huh.........?

Dang, I have a propane tank and just paid $3 gal to fill up my tank.

 

[ViperHorn]

Nat gas under $2 per mmbtu. Dirt cheap.

but gas and diesel are both up and holding onto the ~ $0.075 per gallon increase - pushing $3/gal again in DFW.

 

[Monahorns]

Money Supply growth rate is still negative. However if you look at M2, it's supply is flat. The Fed, despite rate hikes, is funneling new $s to politically connected banks and corporations. But don't worry you can still eat insects!

 

[nashhorn]

Well crap, wife just informed me that vanilla wafers are out of sight too. I was in the mood for some banana pudding. Have not had it in a looong time, guess it will be even longer now.

 

[Horn6721]

Their definition of inflation needs to be adjusted.
The report today says inflation did not rise as much as anticipated
and MSM is acting like that is great news.
NO one mentions that cost of food and gas etc is still going up.

 

[HornHuskerDad]

NO one mentions that cost of food and gas etc is still going up.

Looks like none of those folks in the MSM ever buy groceries or gasoline.

 

[Mr. Deez]

And they act like "problem solved." Ok even if inflation goes down, that just means prices aren't going up as fast anymore. But they've still risen higher than a lot of people's pay has risen. Creditors are still being paid back in inflated dollars. The only way to really undo the damage is for prices to fall. That's not gonna happen.

 

[mchammer]

And they act like "problem solved." Ok even if inflation goes down, that just means prices aren't going up as fast anymore. But they've still risen higher than a lot of people's pay has risen. Creditors are still being paid back in inflated dollars. The only way to really undo the damage is for prices to fall. That's not gonna happen.

 

[Chop]

And they act like "problem solved." Ok even if inflation goes down, that just means prices aren't going up as fast anymore. But they've still risen higher than a lot of people's pay has risen. Creditors are still being paid back in inflated dollars. The only way to really undo the damage is for prices to fall. That's not gonna happen.

The damage has already been done.

 

[HornHuskerDad]

Ok even if inflation goes down, that just means prices aren't going up as fast anymore. But they've still risen higher than a lot of people's pay has risen.

And to sing the same song one more time - for retirees on a fixed income, with only the "catch-up COLA adjustments" (which never do catch up), we are left to reduce expenditures on recreation, outings and such in order to meet gas, utilities, food, and medical outlays.

 

[Chop]

So who do you think is benefitting the most from the inflation?

The gov't, paying back bonds with deflated $

Private borrowers, paying back debts with deflated $

Owners and sellers of things that inflate even faster than the economy as a whole?

 

[Chop]

I suppose the debtors with fixed interest loans make out relatively well. Especially homeowners with mortgages.

But don't get too giddy. Your local tax appraisal district just jacked up the appraisal on your home, so you'll be paying a lot more property taxes. Ditto with the insurance companies who are really bumping up prices.

 

[Monahorns]

So who do you think is benefitting the most from the inflation?

The gov't, paying back bonds with deflated $

Private borrowers, paying back debts with deflated $

Owners and sellers of things that inflate even faster than the economy as a whole?

The Military Industrial Complex and every other government aligned industry.