Corporations are using inflation as an excuse to raise prices and make fatter profits — and it's making the problem worse

[Charlemagne]

Corporations are using inflation as an excuse to raise prices and make fatter profits — and it's making the problem worse

"Inflation isn't driving most of these price increases," says former US Labor Secretary Robert Reich. "Corporate power is driving them."

www.businessinsider.com

 

[james t kirk]

I would agree with that.

Im seeing material prices increase, but I'm definitely not seeing labour prices increase. Everything is being blamed on covid and my impression of that is that covid is just an excuse to jack prices and provide shitty consumer service.

The biggest scam has to be the prices for automobiles. Chip shortage my ass.

 

[bazokajoe]

I would agree with that.

Im seeing material prices increase, but I'm definitely not seeing labour prices increase. Everything is being blamed on covid and my impression of that is that covid is just an excuse to jack prices and provide shitty consumer service.

The biggest scam has to be the prices for automobiles. Chip shortage my ass.

Totally agree.
Have you seen the prices of used cars and trucks? It's nuts.
Personally I feel companies are just trying to make up for lost profits.

 

[barnacler]

Totally agree.
Have you seen the prices of used cars and trucks? It's nuts.
Personally I feel companies are just trying to make up for lost profits.

Whenever inflation picks up anywhere, in any country, the first target is corporations who supposedly raise prices. Big fat juicy LOL, - its as if these commentators think that anytime corporations want to they can raise prices. As if it never occurred to them before, but now they can do it without consequence. If its so easy, why not do it every day of the year?

Why do they need an excuse?

I guess the basic economics of it all, - you shut down large swathes of the economy, thereby reducing supply, while at the same time flooding the economy with money - hmmm, that has nothing to do with it.

The only one that can raise prices whenever they want are governments. Only thing is, their prices are called taxes.

 

[Bagilson]

Socialist/ClimateCultists: Raise minimum wage then impose a carbon tax that affects every aspect of production and delivery.
Also Socialist/ClimateCultists: Inflation is due to cooperate greed!

 

[canada-man]

covid is an excuse for the great reset. there is no pandemic

 

[Kracker]

I sometimes wonder why so many people don’t understand the point of corporations - to make money for shareholders. Short of collusion and monopolies (both of which happen but are regulated as much as possible), corporations raise prices when they can. Whenever they can.

Then they raise salaries, or buy back shares to raise share prices, or dividend out profits.

Circle of economic life.

 

[y2kmark]

I would agree with that.

Im seeing material prices increase, but I'm definitely not seeing labour prices increase. Everything is being blamed on covid and my impression of that is that covid is just an excuse to jack prices and provide shitty consumer service.

The biggest scam has to be the prices for automobiles. Chip shortage my ass.

No it's true, some "US made" cars now come minus heated seats and steering wheel....

 

[bazokajoe]

No it's true, some "US made" cars now come minus heated seats and steering wheel....

I hope that means a reduced price, but unlikely.

 

[y2kmark]

I hope that means a reduced price, but unlikely.

Thought the same thing, and you are very likely right...

 

[fictionfactor]

I sometimes wonder why so many people don’t understand the point of corporations - to make money for shareholders. Short of collusion and monopolies (both of which happen but are regulated as much as possible), corporations raise prices when they can. Whenever they can.

Then they raise salaries, or buy back shares to raise share prices, or dividend out profits.

Circle of economic life.

or when they see a huge opportunity in vaccinating the whole world aka Vaccine producing companies

 

[LickingG2]

Chip shortage is real for lot of cars, German cars in particular. Dearer lots are near empty. My partner lost one of her Audi key fobs and was told she is out of luck for awhile. Supply chain problems are another cause of shortages which most often results in price increases.

 

[Claudia Love]

For example Loblaws made billions during the pandemic couldn't even keep a raise for its employees risking everyday before vaccines were available. They have the audacity to raise prices. The big box stores made a fucking killing all through out the pandemic. Yes inflation is the highest its been in 30 years but just like the article says most of it a huge money grab. The rest of us were locked down shut in couldn't work while these monopolies made a killing on us all. this is what we get as a thank you pfft.

 

[Adam_hadam]

For example Loblaws made billions during the pandemic couldn't even keep a raise for its employees risking everyday before vaccines were available. They have the audacity to raise prices. The big box stores made a fucking killing all through out the pandemic. Yes inflation is the highest its been in 30 years but just like the article says most of it a huge money grab. The rest of us were locked down shut in couldn't work while these monopolies made a killing on us all. this is what we get as a thank you pfft.

Really?
https://www.loblaw.ca/en/investors-reports

Go through these reports and let us know what really happened. Don't let facts get in the way of a good story

 

[barnacler]

For example Loblaws made billions during the pandemic couldn't even keep a raise for its employees risking everyday before vaccines were available. They have the audacity to raise prices. The big box stores made a fucking killing all through out the pandemic. Yes inflation is the highest its been in 30 years but just like the article says most of it a huge money grab. The rest of us were locked down shut in couldn't work while these monopolies made a killing on us all. this is what we get as a thank you pfft.

You comment made no mention of any specific monopolies. Could you tell me which of the corporations you mentioned are monoploies?

I have one: THE LCBO. Oh, wait, its government, isn't it.

 

[sshotrr]

Totally agree.
Have you seen the prices of used cars and trucks? It's nuts.
Personally I feel companies are just trying to make up for lost profits.

Build less and make more with the cars . I have been looking for a used car for a few months . The used model I am looking at went up 3k in a few months . Many used are going to the US.