Why are prices from everything from laundry detergent to potato chips to My Little Pony going up? Inflation is a complex phenomenon. Supply chain disruptions, increased labor costs, and surging demand all play a role. But one factor driving inflation is seldom discussed: mega-corporations with massive market power.
Grimly poetic how Procter & Gamble, the company that makes Pampers diapers, is full of sh*t.
Sometimes, they disguise the price increase by changing packaging to provide less product for the same price. They think we won’t notice, but we do. But if we need the product, we have no choice.
BTW, re diapers, one way to avoid the duopoly is to use cloth diapers and a diaper service. Support the local business, and keep “disposable” diapers out of the landfill.
So, in other words, everyone wins.............except for those commoners like us who actually have to buy these products.
Probably unsurprisingly, I've seen news channels reporting that one of the causes of inflation is that these same corporations have had to raise wages and add more benefits just to hire enough people back. Same as Walgreens blaming "shoplifting" for closing stores in San Francisco (news flash, the stores they closed weren't the ones with the worst shoplifting) when it's in fact because they pulled a Starbucks and opened too many too close together + "brick and mortar meltdown", same as BP's spin about global warming being about individual consumption -- Never the rich people's fault, never corporate greed's fault -- it's poor people's fault!
I wonder if Katie Porter knows about this.
If only Biden would use this information about corporate price gouging to combat the incessant high dudgeon of inflation news. How unpatriotic of corporate companies to take advantage of consumers and the country at large. Profit increases disguised as “woe-is-me” minor cost increases are pathetic.
Sickening to think of grocery moguls playing dice with the very sustenance of their customers.
Hmmm. Amazing! All my stock market investments are currently in my IRAs. Even though I am not "wealthy," the increases in my portfolio are astonishing. This is all something to ponder and I will be sharing it with others who will want to know these truths. Wow.
The citizen battles the corporate 1%. They battle the wealthy 1%. They battle the stockholders and investors. Used to be a political party took up for the citizen on local. state and federal levels. Too many hands in all political pockets now. You vote your one vote and the 1% benefits because: We the People can't line the pockets of those elected to represent us.
Just saw a story on AP how Food Banks can't keep up with needy and the increase of help during this time of rising prices.
I don't comment here much any more. It's the same problem in every arena. 1 % benefitting and the rest of us taking it on the chin.
I wish more people can read your article. You’re pointing out the obvious but many people aren’t grasping. Not only are individuals gaining wealth during this crisis, corporations are raising prices and profit margins are also increasing. That tells us they are taking advantage of us. They’re laying the burden where it always goes in this country…middle class. It puts people in an endless loop like running in a hamster wheel just to cover needs. Capitalism has run amok and we won’t fix it if republicans maintain any control.
At the same time, Dems/Biden need to get the deadly coup group off the street and in very long-term prison sentences, the BBB has to be shoved through, expand the Supreme Court, do everything it takes and stop asking Dems to settle. We need to see some fist pounding and results that matter!
Where's Teddy Roosevelt when you need him?
Hmm but todays Intercept has a great article about how inflation lowers the value of our (middle class) debt, and is really good for us. (Also helpfully points out that prices didn’t rise 6.5% in a single month, as misleadingly reported in NYT.) So, now I’m confused, but also glad I read >one source on any given day.