LD0506 Posted February 9, 2022 Share Posted February 9, 2022 Link to comment Share on other sites More sharing options...
tshile Posted February 9, 2022 Share Posted February 9, 2022 One day the news will catch up and stop calling this inflation. 1 1 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 (edited) Demand driven price increases? No one needs to spend money at Amazon or Starbucks… but they are still raising prices and earning record profit. 🤔 demand driven price increases! If rising prices isn’t inflation what do you think inflation means? Edited February 9, 2022 by CousinsCowgirl84 Link to comment Share on other sites More sharing options...
Larry Posted February 9, 2022 Share Posted February 9, 2022 7 hours ago, CousinsCowgirl84 said: Demand driven price increases? Right. All those corporations raising profits are simply a response to the overwhelming demands from customers, begging them to triple the company's profits. 1 1 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 (edited) Just now, Larry said: Right. All those corporations raising profits are simply a response to the overwhelming demands from customers, begging them to triple the company's profits. Essentially phrases you never heard at a Starbucks ”8 dollars? I think I’ll skip the double pump macchiato with extra expresso this morning, Jim” Edited February 9, 2022 by CousinsCowgirl84 Link to comment Share on other sites More sharing options...
TradeTheBeal! Posted February 9, 2022 Share Posted February 9, 2022 Inflation means a lot of things, but I was not aware that it means “record profits”. If this is really “the worst inflation since the Carter administration”, shouldn’t we be able to find archived media from the 70s talking about corporate mega-profits? 2 1 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 The 1970s inflation was supply driven. Inflation today is demand driven. Link to comment Share on other sites More sharing options...
Captain Wiggles Posted February 9, 2022 Share Posted February 9, 2022 Corporate profits are at a height not seen since the 1950s. Clearly prices have not risen because of inflation or cost of doing business but from good old fashioned greed. Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 4 minutes ago, Captain Wiggles said: Corporate profits are at a height not seen since the 1950s. Clearly prices have not risen because of inflation or cost of doing business but from good old fashioned greed. What is inflation again? You are acting like why prices are going up matters regarding whether it is “inflation” or not. If it’s just from greed, why did businesses decide to wait till now to raise prices (hint: Demand) Link to comment Share on other sites More sharing options...
Captain Wiggles Posted February 9, 2022 Share Posted February 9, 2022 2 minutes ago, CousinsCowgirl84 said: You are acting like why prices are going up matters regarding whether it is “inflation” or not. If it’s just from greed, why did businesses decide to wait till now to raise prices Because they didn't wait until now. Prices were up 7% overall for 2021. Lmao yes it does actually matter whether prices are going up from actual costs of doing business vs price fixing/gouging. Especially when all these costs are passed on to consumers. 🤷♀️ Link to comment Share on other sites More sharing options...
steve09ru Posted February 9, 2022 Share Posted February 9, 2022 Good article talking through the current inflation: https://www.forbes.com/advisor/investing/why-is-inflation-rising-right-now/ Link to comment Share on other sites More sharing options...
Larry Posted February 9, 2022 Share Posted February 9, 2022 43 minutes ago, CousinsCowgirl84 said: What is inflation again? You are acting like why prices are going up matters regarding whether it is “inflation” or not. If it’s just from greed, why did businesses decide to wait till now to raise prices (hint: Demand) Admiring the person who is trying to claim that why prices are increasing is irrelevant, while making multiple posts trying to carefully blame the victims for the actions of their exploiters. 2 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 (edited) 48 minutes ago, Captain Wiggles said: Because they didn't wait until now. Prices were up 7% overall for 2021. why did they wait until 2021, or 2020, or 2019, or 1956? 48 minutes ago, Captain Wiggles said: Lmao yes it does actually matter whether prices are going up from actual costs of doing business vs price fixing/gouging. Especially when all these costs are passed on to consumers. 🤷♀️ you realize that the “costs of doing business” comes from other businesses though? Like, paper just doesn’t get more expensive, the paper people charge more for paper…. So even if the “cost of doing business” are going up its just because someone decided to raise prices. What do you think is a legitimate reason to raise prices? 7 minutes ago, Larry said: Admiring the person who is trying to claim that why prices are increasing is irrelevant, while making multiple posts trying to carefully blame the victims for the actions of their exploiters. As far as whether or not inflation is inflation the reason it is inflation is irrelevant. But the reason isn’t “because corporations are greedy”. They’ve always been greedy, that isnt what changed. Edited February 9, 2022 by CousinsCowgirl84 1 1 Link to comment Share on other sites More sharing options...
Captain Wiggles Posted February 9, 2022 Share Posted February 9, 2022 Maximizing profits during a pandemic by raising prices after receiving a yuge tax break from the government is as legitimate a reason as any. 😉 In fact it's downright American. 1 Link to comment Share on other sites More sharing options...
Califan007 The Constipated Posted February 9, 2022 Share Posted February 9, 2022 How many on this thread have owned their own business? Did your business deal in selling goods to the public? I'm just curious. 1 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 11 minutes ago, Califan007 The Constipated said: How many on this thread have owned their own business? Did your business deal in selling goods to the public? I'm just curious. For 15 years…. 1 Link to comment Share on other sites More sharing options...
PeterMP Posted February 9, 2022 Share Posted February 9, 2022 (edited) First generally, it is inflation. Inflation is happening. To argue, otherwise is just idiotic. The inflation then might be related to record corporate profits. Whether prices go up because wages are increasing or corporate profits are up or whatever reason. It doesn't matter. 7 hours ago, CousinsCowgirl84 said: The 1970s inflation was supply driven. Inflation today is demand driven. But I'm not at all sure this part is really true. Certainly fossil fuel prices which are a large part of the inflation we are seeing are being heavily driven by a lack of supply. I think we are seeing the same thing with rents. CPI is based on rents (not home prices) and rents have gone up a lot in the last 2 years and are a large part of the increase in inflation, but I don't think there has been a large increase in the demand to rent living space. In fact, I'm pretty sure the amount of rental living space is up. Edited February 9, 2022 by PeterMP Link to comment Share on other sites More sharing options...
Sacks 'n' Stuff Posted February 9, 2022 Share Posted February 9, 2022 (edited) CousinsCowgirl is correct. Corporations and business charge the most they can for a product. If business X was charging $50 for their product five years ago and are charging $100 for it now, it’s not because they suddenly got greedy. If they could have charged $100 back then and people were willing to pay that much, they would have. Edited February 9, 2022 by Sacks 'n' Stuff Link to comment Share on other sites More sharing options...
PeterMP Posted February 9, 2022 Share Posted February 9, 2022 (edited) 5 minutes ago, Sacks 'n' Stuff said: CousinsCowgirl is correct. Corporations and business charge the most they can for a product. If business X was charging $50 for their product five years ago and are charging $100 for it now, it’s not because they suddenly got greedy. If they could have charged $100 back then and people were pay that much, they would have. That's not really true and overly simplistic. Maximizing profit doesn't always mean maximizing the price you charge for a product. There are multiple reasons why people might charge less for a product then they can, especially among small businesses and businesses that are driven by foot traffic. I live in the land of Wawa. Wawa will charge less for gas than their nearby competitors in almost every case. And they aren't even doing it for PR (and yes sometimes companies charge less for good PR). There is an implied fallacy here that the best way to maximize profits is to maximize how much you charge for individual products. Anybody that is in business knows that's often not the case. Edited February 9, 2022 by PeterMP 1 Link to comment Share on other sites More sharing options...
tshile Posted February 9, 2022 Share Posted February 9, 2022 (edited) 8 hours ago, CousinsCowgirl84 said: The 1970s inflation was supply driven. Inflation today is demand driven. You mean back in the 70’s the problem was that supply couldn’t meet demand, but today the issue is that supply can’t meet demand? 🤷♂️ how the rest of you let this nonsense slide Edited February 9, 2022 by tshile 2 Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 (edited) Of course I am not arguing that charging the maximum price 24 minutes ago, PeterMP said: That's not really true and overly simplistic. Maximizing profit doesn't always mean maximizing the price you charge for a product. There is an implied fallacy here that the best way to maximize profits is to maximize how much you charge for individual products. Anybody that is in business knows that's often not the case. yes, and too be clear I wasn’t arguing that. I am arguing just that the reason price has gone up is because of demand. 2 minutes ago, tshile said: You mean back in the 70’s was that supply couldn’t meet demand, but today the issue is that supply can’t meant demand? 🤷♂️ how the rest of you let this nonsense slide Google demand constraints and supply constraints. They are different. Edited February 9, 2022 by CousinsCowgirl84 Link to comment Share on other sites More sharing options...
tshile Posted February 9, 2022 Share Posted February 9, 2022 3 hours ago, CousinsCowgirl84 said: You are acting like why prices are going up matters regarding whether it is “inflation” or not. If it’s just from greed, why did businesses decide to wait till now to raise prices Yes why it goes up matters. that’s why we have things like laws against price gouging - where the crime is literally defined by the motive behind rising prices. and that’s why we we generally use different words to mean different things, and have a book dedicated to the sole function of allowing you to look up those different words, see what they mean, and consider how they are different so we can use them correctly. Inflation is not when corporations decided to raise profits, because they can. then brag about it in their earnings calls. decades of consolidation creating the illusion of choice, but allowing a single entity to essentially control prices, allows them to do it. price gouging laws make what they’re doing wrong, and potentially illegal, and it’s why the reason matters. 1 Link to comment Share on other sites More sharing options...
tshile Posted February 9, 2022 Share Posted February 9, 2022 35 minutes ago, PeterMP said: I live in the land of Wawa. Wawa will charge less for gas than their nearby competitors in almost every case Inject printer makers sell their printers at a loss. they make their money on the ink cartridge refills (even though you can get those from someone else) Link to comment Share on other sites More sharing options...
CousinsCowgirl84 Posted February 9, 2022 Share Posted February 9, 2022 10 minutes ago, tshile said: Inflation is not when corporations decided to raise profits, because they can. Yes, it literally is. 1 Link to comment Share on other sites More sharing options...
tshile Posted February 9, 2022 Share Posted February 9, 2022 1 hour ago, Califan007 The Constipated said: How many on this thread have owned their own business? Did your business deal in selling goods to the public? I'm just curious. I helped start a business that sells services and goods to the public. im keenly aware of the running of the business and have/have had input, but it’s a bit easier when you don’t actually have skin the game. how many giant corporations have you run? 1 Link to comment Share on other sites More sharing options...
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