| Screwed over to preserve the spending power of the wealthy...."greedflation 17:04 - Mar 12 with 968 views | BanksterDebtSlave |
https://www.theguardian.com/business/2023/mar/12/global-greedflation-big-firms-d
"Large corporations have fuelled inflation with price increases that go beyond rising raw materials and wages costs, pushing shopping bills to record highs, according to analysis of hundreds of company accounts.
Highlighting a trend dubbed “greedflation”, the research shows supermarkets, food manufacturers and shipping companies are among hundreds of major firms who have improved their profits and protected shareholder dividends, giving an extra lift to prices, while the cost of living crisis has meant workers face the biggest fall in living standards in a century."
#fleeced
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:24 - Mar 12 with 898 views | J2BLUE |
I don't think that will be a surprise to anyone who does their own shopping. Supermarkets seem more than happy to raise prices by 30-40% just because they can. |  |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:33 - Mar 12 with 879 views | Swansea_Blue |
It certainly feels that way. Food prices if you mostly shop local have gone through the roof, way above the inflation figure.
This quote about being ‘concerned’ made me chuckle - it’s hardly an artefact people hadn’t noticed before. It’s a deliberate policy. Of course they’re laying the blame at the door of (mostly public) workers. It’s what they do.
“Graham said she was concerned that policymakers in the Bank of England and the Treasury were focused on workers wages as a driving force behind rising prices when analysis of corporate profits showed boardrooms played a significant role — insulating themselves from the impact of higher raw materials costs by passing on price rises. |  |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:35 - Mar 12 with 875 views | Herbivore |
Companies have always looked after their own interests first and foremost, but having a corrupt government that essentially sanctioned profiteering from Covid and the economic shock of Brexit (and, arguably, the crisis caused by Trussonomics) has likely made things much worse. Why should capitalists care about the public when the government doesn't? |  |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:37 - Mar 12 with 863 views | Herbivore |
| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:33 - Mar 12 by Swansea_Blue |
It certainly feels that way. Food prices if you mostly shop local have gone through the roof, way above the inflation figure.
This quote about being ‘concerned’ made me chuckle - it’s hardly an artefact people hadn’t noticed before. It’s a deliberate policy. Of course they’re laying the blame at the door of (mostly public) workers. It’s what they do.
“Graham said she was concerned that policymakers in the Bank of England and the Treasury were focused on workers wages as a driving force behind rising prices when analysis of corporate profits showed boardrooms played a significant role — insulating themselves from the impact of higher raw materials costs by passing on price rises. |
Yes but unregulated markets benefit us all or something. | |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:45 - Mar 12 with 837 views | BanksterDebtSlave |
| Screwed over to preserve the spending power of the wealthy...."greedflation on 17:37 - Mar 12 by Herbivore |
Yes but unregulated markets benefit us all or something. |
....but pension funds or something else! | |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 18:08 - Mar 12 with 784 views | Kropotkin123 |
We might as well privatize them, if they are going to run against the interest of the population. |  |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 08:40 - Mar 13 with 570 views | leitrimblue |
It's what she would have wanted |  | | |
| Screwed over to preserve the spending power of the wealthy...."greedflation on 09:42 - Mar 13 with 506 views | SuperKieranMcKenna |
The flip side is that there’s going to be a crunch point as people are really cutting back spending so it’s not sustainable. Doesn’t make it any more justifiable but there will come a point when they have no option but to reduce prices accordingly.
So many people are unwilling to put their money where their mouth is as well. Granted there are certain essentials that you need to get from the supermarket, but I also try and use local businesses like greengrocers and butchers. For those on tight incomes supermarkets are still cheaper, but there’s plenty of middle class who are not squeezed and just shop ‘for convenience’.
Likewise I try and avoid using tax dodgers like Amazon (a classic example that people rail against but still use ‘because it’s easy), Starbucks, Sports Direct et al. |  | | |
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| Screwed over to preserve the spending power of the wealthy...."greedflation on 11:03 - Mar 13 with 440 views | J2BLUE |
| Screwed over to preserve the spending power of the wealthy...."greedflation on 09:42 - Mar 13 by SuperKieranMcKenna |
The flip side is that there’s going to be a crunch point as people are really cutting back spending so it’s not sustainable. Doesn’t make it any more justifiable but there will come a point when they have no option but to reduce prices accordingly.
So many people are unwilling to put their money where their mouth is as well. Granted there are certain essentials that you need to get from the supermarket, but I also try and use local businesses like greengrocers and butchers. For those on tight incomes supermarkets are still cheaper, but there’s plenty of middle class who are not squeezed and just shop ‘for convenience’.
Likewise I try and avoid using tax dodgers like Amazon (a classic example that people rail against but still use ‘because it’s easy), Starbucks, Sports Direct et al. |
Bit harsh on people who use Amazon. In a cost of living crisis for £9 per month (less if paid annually) you get next day delivery on millions of items which are cheaper in the first place. You also get access to a streaming service and some ebooks. It's great value. The company might be completely unethical but prime is great value and I think it's a little harsh to say people ignore it for convenience. It's more that it's such good value people end up relying on it.
Whenever I try and make the effort to use another retailer I get to the checkout with an item which is more expensive to start with and then see their basic delivery service is £5+ for 2-3 days time so it's not as simple as people just ignoring issues for convenience. | |
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