Is It Inflation? Or Is It Greedflation? | Robert Reich

[@tatianastarcic]

Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place.

[@winifred-k9e]

Government policy has thrown the future under the bus for decades. The day of judgment is near. I predict an 80% drop in the stock market. Investors will abandon stocks in favor of real estate. There will be no money in banks... You must devise a strategy for survival.

[@MattsMkia]

I agree. I have pulled in more than $435k since 2020 through my advisor. It pays off more in the long run to just pick quality stocks and ride with those stocks.

[@JacobsErick-u8r]

Mind if I ask you recommend this particular professional you use their service? I have quite a lot of marketing problems.

[@MattsMkia]

I'd like to give significant credit to Melissa Terri Swayne who maintains a strong online presence. You can easily find her through a web search. While there are some other individuals worth considering, it may be more challenging to locate them. In addition, She has provided excellent guidance throughout the year.

[@LUCIASMITH-d1z]

Upon conducting an online search of her name, her website promptly came to my attention, sparking my interest. The initial impression is favorable, and I plan to schedule a conversation with her. I'll be sure to keep you informed about how it unfolds. Thank you.

[@karenmckay1531]

So tired of the lies and greed. I have stopped buying certain items due to price gouging and will not buy until prices go down

[@alterego6075]

Yup. Pettiness is our only option at this point. I even canceled my years long Prime membership when they decided to slap me in the face w ads... or a price hike to remove them. F*** 'em. I'm done.

[@aaronwilley91]

Imagine if we all just rallied around not buying any Pepsi products anymore. Think they wouldn’t lower their prices then?

[@Bambi7ish]

Boycott

[@yourdaddy-mq4km]

🤦‍♂️ I hate to break it to you but prices aren't coming down.

[@alterego6075]

@yourdaddy-mq4km But profits are going up, up, up! I'm more than happy to pay more so they make more! America!!! Whhhhhheeeewww!!! Just don't tax me. THAT'S WHERE I DRAW THE LINE! My money is for rich people, thank you very much. I mean... think about the rich people for once. Poor rich people. Sigh.

[@alterego6075]

"When you're accustomed to privilege, equality for others feels like oppression."

[@SeanMac1776]

Dumbest statement I have heard today. I'm white and grew up in the worst neighborhood in Detroit. Do I have privilege?

[@mba321]

@@SeanMac1776 What does this have to do with being white? It's actually your statement that's pretty dumb, little buddy.

[@alterego6075]

@user-yp3qg3km7s Thank you. Not many people will admit that... how poverty doesn't care about skin color. Well done. 👏

[@SeanMac1776]

@mba321 Cause I'm white. Privilege is what rich people have not a entire race if people. Skin color has nothing to do with it.

[@StomachPlug]

​@@SeanMac1776 It's more complicated than that bud. Where you lived, sure. You grew up in an area where many times it was a non factor, sometimes beneficial, and sometimes detrimental. But take that same attribute and put it into a corporate ladder job market. You are likely to have shorter cut hair that is generally straight or slightly curly, but overall manageable to put into an _"acceptable"_ hair style with little or no effort. Your name is likely easy to pronounce. You blend into the background with most of your coworkers. Now if you have a black guy or gal in the same situation there's a good chance that you don't just have a different skin tone, you have a different dialect of speech, you have hair that is very likely not going to conform to these corporate standards that were made with straighter hair in mind, there's a high chance that your first or last name is a little unusual and you'll have people that either don't care to learn to pronounce it or they even go out of their way to mock it. Obviously the things I provided here are just really small examples _(what many people would consider to be micro aggressions, which I think is a dumb word),_ but it's hardly difficult to imagine a scenario where you are perceived as an outsider for any number of reasons. In the end that is what racism is, it is defining yourself by what you are not rather than what you are. I remember when I was younger and in the military I used to get a ride back to my home sometimes from my friend Ramirez _(not real name)._ I loved a bit out in the boonies at the time because I was taking care of my mom out there, and I remember having a good chuckle on the first ride because he admitted to me that he was _terrified_ of driving me back because of how white everybody was. I blew it off and made jokes with him and got him to calm down, and after a few rides he stopped getting freaked out. But then one day he called me because he was stopped by police and made to get out for _"smelling like weed"_ and they mysteriously found some in his glovebox. Ramirez was just about the most straight-laced no nonsense guy I've ever met, and seeing that I would store things in his glovebox for the trip home I know he never had anything like that in there. Thankfully we got that challenged and dropped, but it really opened my eyes to how these things happen, I still cringe with disappointment when I think back to how easily I dismissed him back then. I think what we need to do here is retire the term *white* privilege and instead focus on changing the topic title to *in-group* privilege, because it's a less contentious name and nobody can realistically argue that no such thing exists. Everyone understands that biases of all sorts exist across many kinds of spectrums. Sometimes it's racial and sometimes it's white, but there's little to no utility in the term white privilege anymore because too many people have been disingenuous in both using it and arguing against it. In either case, pretending that biases doesn't exist when there are still a sizable number of people that benefit from pushing discrimination is hardly the proper answer. Anyways, just my two cents. All of you have a lovely day.

[@danawestover6373]

Just returned from England and was surprised at how much less the British pay for groceries, in a country that has much less farming than here. It's not hard to figure that we've been had by the concentration of industrial power into just a few hands.

[@Nat3ski]

We think prices are too high in the UK too. You yanks must be getting absolutely fleeced if you think our food is cheap!

[@kiedisboughen5318]

Damn, prices are considered pretty bad here, are you lot doing okay?

[@serafinacosta7118]

Thank the Dutch. Nobody beats them on pricing and efficiency.

[@bethkulick92]

I shop at Aldi and they have their own brands close to the big brands for cereal, peanut butter, and many more. Their brands are like half the price and even better than the original in many cases. Kind of interesting.

[@jojose417]

I’m really contemplating moving to another country, the greed is never going to stop here

[@SeanTalkoff]

America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun..

[@PASCALDAB]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.

[@SteveDutton-v]

I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?

[@PASCALDAB]

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[@SteveDutton-v]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@MGmirkin]

Don't forget collusion and monopoly/oligopoly.

[@de-fault_de-fault]

George Carlin’s album, “A Place for My Stuff,” is structured like an hour of radio programming, with various sketches and fake commercials scattered throughout. In one, the fictional Dempsey’s Department Store pledges, “Everybody’s talking about inflation, but Dempsey’s is doing something about it: we’re raising prices!” It’s amazing how flagrantly corporate America is using that exact strategy today, and how many people blame everyone except the people who actually set the prices.

[@reidflemingworldstoughestm1394]

What's truly amazing about it is the 80 million ordinary Americans who blame Biden for what the corporations are doing, even as they praise the corporations for being good at making a buck.

[@muzerhythm2242]

Love that album!😂 Also me and my parents loved the food jokes: food gone bad....could be meat could be cake...let's call it Meatcake.😂 Or pudding in fridge too long....Would anyone like fault line pudding only has 3 inch crack in it.😂

[@carlbuschman]

Goerge Carlin was Twenty years ahead of us, good job Bro.

[@KFish-bw1om]

It's equally amazing how everyone blames everyone except themselves, and then walks into the store and purchases the exact same products.

[@FourthWayRanch]

Government creates monopolies

[@dr.detroit1514]

Some years ago, about a half a dozen gas stations near me were charged with price fixing, and forced to pay thousands of dollars each in fines. Why aren't the giant corporations charged when they do it? Because they are the government, really.

[@Onaqui1989]

As I understand it, if there is some sort of disaster and companies are found charging more for necessities (like gas, water, etc.) then they are fined. What is happening right at this moment now, unfortunately, does not qualify like a disaster...IMO, this is where enforcing antitrust laws and making new policies to curtail big corporations getting away with antitrust violations needs to happen. We need more competition for the large companies....instead what has been happening for decades is the larger companies buy-out their competition. That creates just a few companies with all the market share and that is where we find ourselves now. It's all antitrust issues, isn't it. Dealing with a pandemic like COVID really jacked up the supply chain and it really did cost more for items to be made/shipped to consumers, plus fewer companies supplying goods/services....also, you had the no traveling, so companies in that industry took a nose dive during that time. Now though, I agree, it's got to stop.

[@kathrynw3]

These companies get fined pennies on the dollar after they have made billions in profit, so the fines are just a cost of doing business to them and doesn't hurt their profits in any way.

[@thelibertyprojects.4747]

Because they don’t. Don’t take any economic advice from this man he’s intentionally misleading people. He’s a paid mouthpiece for certain politicians and nothing more. This would be the equivalent of taking an economics course from Rudy Guliani.

[@thelibertyprojects.4747]

@@Onaqui1989price fixing is illegal all the time.

[@Onaqui1989]

@@thelibertyprojects.4747 we are NOT talking about price fixing. We are talking about price gouging. They're not the same.

[@leelindsay5618]

I stopped drinking sodas years ago. I don't eat mainstream brand chips either. Working on changing to local farm meats entirely.

[@serafinacosta7118]

Squeeze a few lemons . It prevents kidney’ s stones. And the Chinese are hell bent for watermelon. Great diuretic

[@williamyoung9401]

It must be nice to be rich and not live in a food desert...

[@topgrain]

Big Snack Foods are just kidding their selves keeping greedflated prices until the "use by" date on their products are about 60-days out, and then quickly dropping the prices or putting a BOGO price on the shelves. Consumers have established what the price point SHOULD be, but the manufacturers greed just wont let them bend. If an items that retail for $5.00, but gathers dust on the shelves until the manufacturer puts a BOGO, Buy One Get One free, on the item, the manufacturer is admitting that the actual retail price of the item should be $2.50.

[@pilotmark2861]

Same here

[@mariorivera5533]

Cell phone companies and internet providers also need antitrust laws applied to them.

[@flynneves3152]

As someone who works in telecommunications, i agree 1000%, there's clearly a ton of collusion

[@williamyoung9401]

Cable companies made a deal with the government 100 years ago. They would build up our country's infrastructure in exchange for market dominance in that region of the country. It's pathetic and terrible for all of us, except the few in charge of their own paychecks.

[@EvaGrammer]

​​​@@williamyoung9401yes cable companies! It's infuriating to see ads for other cable companies offering better deals and more savings over Xfinity and knowing I can't get that because Xfinity has a lock on my area. I don't even know why I see those ads on TV, I'm not sure their 😢advertising is hitting their target audience, or why cable companies even advertise at all seeing as how there's no real choice anyway.😢

[@kageyfna]

ISP's need to be regulated as public utilities. The internet has become as important as electricity and should be treated as such

[@rogerforsythe5310]

What the heck are you talking about the cost for my cell phone service has been going down steadily for years

[@summerrain7466]

I wish main stream media would stop ignoring this. Thank you for not giving up, Robert. You and Bernie seem to be the lone voices out there. Keep shouting!

[@brianbeecher3084]

But when they’re gone, will there be anyone brave enough to carry on?

[@anthonynicoli]

Why would the mainstream media even mention this? They are owned by the same people that own these quasi-monopolies.

[@Auguur]

Which one is the "mainstream media"?

[@toypianos469]

​@@Auguur all of them.

[@toypianos469]

​@@GNMi79Marx and Stalin? Do bots not have to eat?

[@Starrgazed]

CORPORATE GREED INDEED. It's the real problem!

[@iche9373]

Corporation greed is not the problem, the problem are the deluded voters who still believe in those neoliberal fairytales by the Republicans.

[@yourdaddy-mq4km]

The real problem is the government.

[@pdoylemi]

@@yourdaddy-mq4km How so? Have you studied ANY history?

[@yourdaddy-mq4km]

@@pdoylemi yes, particularly in economics. This inflation was caused supply chain issues from lockdowns, energy markets, and money printing.

[@pdoylemi]

@@yourdaddy-mq4km So, supply chain issues had little (but some) to do with lockdowns HERE - but more with lockdowns in countries like China. And guess what? Not KILLING people to avoid what was (at least to someone like me who has seen REAL inflation) to avoid a short period of inflation is what government SHOULD DO! Then you mention "energy markets" - I AGREE! Markets are not the government! Biden was TRYING to get our oil companies to ramp up production and reopen refineries that had closed due to lack of demand in 2020, but they were making RECORD profits without having to bother investing in increased production that would just lower their profit margins. So how is that the government's fault? Were they supposed to nationalized the oil industry? And as for money printing there is little evidence that is has a serious effect on US inflation, but if it does - blame Trump. But Reagan, Bush Jr, and Trump printed money like water at Niagara Falls. Clinton did not, and Obama slowed it significantly, but inflation levels did not vary a lot. If you really HAD studied history, you would know that ONLY government can stop greedy corporations from raping consumers. Study Teddy Roosevelt - the "Trust Buster". Theoretically, in a capitalist economy you can only charge what the market will bear until a cheaper competitor comes along. In reality, that tends to be a joke. I recall a small start up airline in the midwest called maybe Air Tran? I think the name still exists, but Northwest owns it. As a businessman I flew a lot with them for a while out of Lansing, MI. They had direct flights to places like Dulles in Washington and Atlanta, where I went regularly and the main carrier Northwest had no direct flights. Their fares were way lower and the service way better. I used to have to take a "United Direct" flight to either Detroit, Chicago, or Minneapolis to get where I needed to go, usually connecting to a Northwest flight. So what happened? Did capitalism work? Of course not! In violation of anti-trust laws (or at least principles), United and Northwest began running direct flights everywhere Air Tran did, at lower prices until the new airline folded. Then all those nice direct flights and the good service were gone, and the prices went back up! See how that works fool? MONEY is POWER! But so is the government, and it is the ONLY place we have a say and fools who do not see that they need to USE their power collectively to fight the power of the rich deserve to be left behind and frustrated. Maybe you should stop supporting billionaires and those who work for them and start supporting people who will (at least more often) work for YOU.

[@pdoylemi]

What you said about the meat industry hit home, because near me is a place called "Scott's Meats". They source their meat locally, pay a bit more than the big corporations and sell to customers for much less. For example, I recently got a semi-boneless Rib roast for $6.49/lb. Walmart had the same thing "on sale" for about $11/lb. The only real difference in the model is that Scott does not have a slaughterhouse - the farmers have to bring the animals already dead and skinned, etc. But he pays them enough to be worth it. And there is a companion business (you might say) not operated by Scott that makes things like leather goods , so the farmers selling to Scott also get to sell the hides and other "by-products" for a profit.

[@BlueJadeU]

We need more of this.

[@pdoylemi]

@@BlueJadeU Yeah - I get all my meat there, even the few times he does not have the best price.

[@michaelfoxbrass]

Fair trade domestic farming. With with fewer businesses involved in processing, wholesaling , and distribution of meats, growers/ranchers make more $ while consumers pay less $ for equal or higher-quality meats.

[@thenutella8846]

See That's a good business model right there. They put people first. We need more businesses like Scott's to be the alternative for communities.

[@ct6852]

Always nice but jarring to get a better meal at a small business for a better price. Feels antithetical to what we're taught about economics.

[@mjnyc8655]

People can live quite well without Pepsi-co and Coca-Cola products.

[@l.tc.5032]

And they do have competitors. BUY LOCAL! Most regions produce their own sodas and similar beverages and they're far better than any Pepsi or Coke.

[@henewcom50]

Absolutely😁👍 It's not like Pepsi and the products they make are vital to the economy. We can do without all their products😡👎Their products are all junk food and we can live without junk food😡👎

[@maryw3989]

It's not even good for you, so it's a waste of money.

[@MsCuriousturtle]

Sugary soft drinks are very bad for you!!! Dump them, drink water, and you'll feel better!

[@maggieg.recommendsandrants3081]

I rarely drink soda now, because it is too expensive. Now the price of coffee is becoming ridiculous! Guess I'll switch to tea until that becomes too expensive.

[@ninjapoundcake]

Shareholder greed is killing our society.

[@vivalaleta]

The entire business of stocks and trades should be done away with.

[@xR0N1Nx]

Facts

[@Jbissful]

Yes, but so is consumer passiveness will to just keep paying without any cutbacks on consumption. People will just bitch online while sipping their Coke.

[@isaacmcdaniel6278]

that greed is a cousin of older people wanting THEIR earnings to keep going up "because i work hard and deserve it." yet shitting on others for wanting the same because "you are so entitled and just want a hand out."

[@saltyp123]

@@Jbissful Did you miss the part where they own all the competitors....there is no alternative accept tap water.

[@allenhonaker4107]

We need to aggressively enforce the Sherman Antitrust Act

[@Justin-Hill-1987]

If it worked well on Standard Oil monopoly in 1911 and on the old AT&T monopoly in 1984, by all means, they should! Congress should weaponize it with the dozens of monopolies we have today! These monopolies and the price gouging behavior of the realty companies have created a perfect storm, which constantly hurts people who are looking for homes to own or rent.

[@danielhutchinson6604]

@@Justin-Hill-1987 If the $15+ billion Electoral Industry were not so convincing to those they appoint to Elected Office, there might be a chance of some form of relief from price gouging. But the cost of getting a name on a Ballot is modest enough to buy the Leadership of Congress. Reich appears to continue to work for those who appointed the Clinton Administration as well as Congressional Leadership. The Inflation is now caused by imports that cost more than they used to. America exploited the domestic sources of resources till they were gone, or they became unprofitable to produce. Now we count on other Nations to supply the essential ingredients for production. The problem with inflation being driven by imports, is the Trade Union that was created in 2014 to unite the Nations the G-7 Nations exploited for centuries. Now they can ask for a fair price for their products. No Government Leaders will admit that this is true. But if you look, you can see the inflation began in 2015. The FED can do little to negotiate prices with the Producer Nations, who now have united.

[@CyberDocUSA]

@@Justin-Hill-1987 but what would Congressional Members do without that additional income, power, and control? Monopolies are very profitable for politicians, especially the career-minded types.

[@dirtyfrench2926]

​@@CyberDocUSAIt's almost like lobbying (aka bribery and political corruption) isn't in the best interest of anyone except politicians and the rich...

[@KenHubbard-jz1vq]

REFORM THE CURRENT CAPITALIST SYSTEM, ITS WAY PAST ITS USED BY DATE AND EITHER REFORM OR TOTAL ANNIALATION IT JUST DOESN'T FUNCTION ANYMORE

[@devinmcmanus]

Also a big problem in Canada. Unfortunately, many Canadians have bought into the idea that it's all the governments fault for giving COVID stimulus, creating a national dental care plan and helping families with childcare. This is despite the fact that several experts in our country cite a lack of competition as a key driver to high prices.

[@yourdaddy-mq4km]

Never had anything to do with lockdowns or Ukraine.

[@mauricearsenault2393]

Wish we had a Robert Reich in Canada. On a similar note, my son came up with a great idea, if you can afford to do so. He said that he is going to cancel his Superstore credit card and let them know why. We are going to do the same. We have in fact started to go to small businesses for some of our food.

[@Gregorypeckory]

Unfortunately that's the result of right-wing billionaires buying up media. I have to admit that it's smart on their part. The fact that the right wing billionaires bought up most of the media in the US, and I believe roughly the same thing is happening world wide; democracy is in trouble in no small part thanks to the success that right wing media has had in recruiting a new generation of fascists willing to be brown shirts for anyone with a stupid macho attitude like the orange turd. The smart thing for the left would be to buy up media and counter the right-wing media that you find all across the country especially radio stations. I just don't know where we're going to come up with the money to do that. There's so much right-wing billionaire money to fund evil and there's nothing good to match it on the other side; the only hope we have is putting in more hard work, like the squad is doing, and getting smarter about organizing around issues like taking our country back from AIPAC; that should definitely be a major organizing principle for the election, and we should condition our support for any candidate, among other things, that they refuse AIPAC money, and that they stand in solidarity with the heroic Palestinian people.

[@3namechangezalowdevry90day7]

I don't know about the other programs, but a cash stimulus is going to be seen as free money, which leads to less bargain shopping and bids up prices.

[@3namechangezalowdevry90day7]

​@@mauricearsenault2393if they give you cash back on purchases, cancelling's a dumb idea. Some USA stores give you 5% cash back, which isn't reportable as income.

[@russh6414]

If their demand suddenly fell off because people stopped buying due to their shenanigans, prices would come down.

[@vetinaris1297]

More likely.they woukd just sack staff but it's a nice idea.

[@humboldthammer]

Try not to buy for just one week

[@russh6414]

@@humboldthammer Its been over a year, Next challenge!

[@humboldthammer]

@@russh6414 Try to find Jesus on your own. Pay no attention to the Pentecostal Rapture Prophets who proclaimed Trump CHOSEN by God. They are Fake Ewes.

[@dr.detroit1514]

I wish I could still drink soft drinks. Being older, I suddenly found I couldn't drink the stuff anymore, if I drank a large amount of it, it made me feel terrible. I think it was the sugar in it, I've sworn off all sugar from my diet since then.

[@grateful.creation]

Greedflation!!!!!!!!!

[@IMPOTUSx2]

Definitely! Hell, even COOKIE MONSTER cannot ignore it! LOL!

[@yourdaddy-mq4km]

Right. Why haven't prices lowered back down after inflation. It's gotta be the boogie man.

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me. Go play in traffic..

[@SayAhh]

Colluflation

[@dragoonzen]

Just don't tell any Republicans about greedflations, they believe that corporations deserve the profits while complaining about the high prices and they can't afford it 😢😅

[@donovantobs]

I foresee a recession lasting 2-3 years, and if inflation continues to surge, the Federal Reserve will likely raise interest rates soon. Inflation is causing various issues worldwide, such as food shortages, scarcities of diesel and heating fuel, and significant spikes in housing prices, leading to a potential financial market crash. This global downturn could have long-lasting repercussions. Given the current inflation rate of approximately 9%, my main worry is how to optimize my savings and retirement fund, which has remained stagnant at around $300,000, yielding almost no gains for quite some time.

[@Kaustavpatell]

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[@frankedwardark]

I'm sure the idea of an invstment-Adviser might sound controversial to a few, but a new study by Motley-fool found out that demand for Financial-Advisers sky-rocketed by over 42% since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've accrued north of 580k within 16-months from an initially stagnant Portf0lio worth 85k.

[@Donald-George]

Inflation is over 10% here in the UK, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?

[@frankedwardark]

Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with 'MICHELE KATHERINE SINGH' for the last five years or so, and her returns have been pretty much amazing.

[@Donald-George]

She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.

[@GaryPierron-ym7xm]

Once prices went up, I knew they would never come down. 😢

[@azuarc]

That is, in fact, how inflation works.

[@kenofken9458]

But they do come down int he right circumstances. Gasoline came down dramatically when demand fell off during Covid. It would fall again if we quit driving 12 mile a gallon gigantic pickup trucks every day. Prices can only rise, and remain high, so long as people pay them. We hear lots of complaining about inflation, and it's a real hardship for people just getting by on the bare basics, but we have millions and millions of people happily paying high prices for everything. People complain about restaurant meals going up 50% or more, but they're eating out like five days every week. They complain about vehicle prices, but line up to buy $120,000 trucks and RVs. They buy every $1,000 electronic gadget and phone upgrade that comes out every year. They complain about travel prices but spend $10,000 on vacations at Disney. Of course prices will stay high if you pay them. The corporations would be fools not to take advantage of that. The way out of this is to stop buying things.

[@dcs4219]

they didn't come down in the late 70s and they wont this time either. even though the covid issues are over. corporations have free reign to gouge us because law makers wont do anything about it. They just let us suffer, while handing out tax breaks to corporations and billionaires.

[@brianbeecher3084]

@@dcs4219what you’re describing is what I like to refer to as the Halloween economy. Treats for the rich and powerful, tricks for most of the rest of us.

[@GaryPierron-ym7xm]

@@GNMi79 the dems didn't lie.. They were wrong. They underestimated the greed of big corporations. You know, the people you support.

[@slfullen]

It’s absolutely greedflation. There is no reason many companies couldn’t roll back the pandemic pricing that they pushed on us but they didn’t need the increased pricing any longer.

[@yourdaddy-mq4km]

That's not how inflation works.

[@yourdaddy-mq4km]

Inflation rates are down but it's still going up by about 3%. Negative inflation means the economy is failing.

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me. Buzz off !!

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me.

[@theshi3152]

@@yourdaddy-mq4km no negative inflation means prices are falling instead of rising. its a capitalist myth that deflation is bad. its literally how prices are supposed to work. there is supposed to be a cheaper option, when prices fall consumers can consume. but monopolistic practices like Prof Reich here points out. prevent any new cheaper alternatives as they're either to small to make a dent or they get bought up. Deflation is literally what (the Canadian) economy needs right now. Prices need to fall or there will be no money left for the economy to function.

[@Lumi_Lumi13]

So what happened? How can big corporations get away with this? It's not the president's fault. It's Congress' fault. Congress COULD pass legislation to stop corporate greed but the republicvnts & the corpo democrats won't pass any type of legislation that does that. Additionally, republicvnts spent DECADES deregulating corporations. Get $$$ out of politics (make lobbying ILLEGAL), enforce the laws we have against monopolies & corporate greed & it would go a fair distance to help us, the regular American citizen.

[@stevenreeves8821]

Exactly

[@aylbdrmadison1051]

Capitalism is a death cult.

[@InTonalHarmony]

Regular American citizen? Who cares about them. Economic growth, baby!!! We gotta make more profit every quarter!!!!

[@iche9373]

It’s the voter's fault if they still believe in those neoliberal fairytales like the Republican Golden Sh*wer (trickle-down economiy)

[@yourdaddy-mq4km]

Let it happen? The government caused this inflation.

[@bilguana11]

Every product from Coke and Pepsi is unhealthy.

[@surfwriter8461]

That's a different issue than price gouging and monopoly power, but of course you're right for several reasons. The soda contains many teaspoons of refined sugar, the container is a burden on the environment, and the plastic containers likely have leached plastic content in the beverage. It's wasteful, environmentally harmful and unhealthy to consume. Most of it is water that the companies use in large quantities, too, usually paying nothing for that massive water consumption from local resources. Humans are supporting those detrimental impacts with every purchase of the product. As a glaring example, when I'm in the supermarket I often see folks with several large containers of soda in their basket. It's kind of nauseating.

[@mikem683]

Which is the irony of Roberts point. Many corporations sell schlock garbage. People need jobs, so they work for those companies. Then their poisonous food breaks down peoples health and results in massive medical costs for society.

[@johnschneidhorst3406]

They also own KFC　ａｎｄ　Ｔａｃｏ　Ｂｅｌｌ

[@bilguana11]

@flippy66 Their poisons increases everyone's healthcare costs, ties up first responders, doctors, etc.

[@CarlGerhardt1]

Buy Mexican Coca-Cola!....it still comes in real glass bottles! (Funny how 'poor' Mexico can sell their soda in real glass and here in 'rich' America, we almost always get crappy plastic).@@surfwriter8461

[@feathersigil2048]

Before anybody says "But they spend their profits on R&D, so those aren't their REAL profits", that's wrong. R&D is an expense, profit is revenue minus expenses. These companies make double-digit billions after all expenses are removed. They keep breaking their own profit records, year after year. They can lose plenty of money and remain profitable.

[@player627]

Research and development costs must be capitalized, not expensed.

[@feathersigil2048]

@@player627 ...What? What are you saying? A cost is an expense.

[@mattharker9212]

R&D is no longer done at large companies - like pharmaceutical companies. It’s far cheaper to ACQUIRE a group that already did the R&D. Now you know why a company like Pepsi or Coke gets to take all of their competitors. One has the money - while the other has none - and can’t compete - so they sell.

[@player627]

@@feathersigil2048 if you don’t know the difference you probably shouldn’t be commenting on it. Do you know the difference between GAAP accounting and tax accounting?

[@Fractured_Unity]

@@player627Woah, stop speaking so absolutely. R and D can be either or, at least in the US.

[@AdrianWaitemusic]

I can tell you, as someone who worked in a supermarket, Coke and Pepsi are colluding with each other. It's chronic in the food industry.

[@williamyoung9401]

It's chronic in ALL the industries. Monopolies and Oligopolies have taken over the Capitalist world...

[@AdrianWaitemusic]

​@@williamyoung9401💯%!

[@jdrein9511]

So the Coke and Pepsi executives consult with supermarket employees about their price fixing schemes?

[@AdrianWaitemusic]

@@jdrein9511 no, just with each other, but it's understood at the retail level because when one goes on sale, the other will often follow suit.

[@sylviagoodman6008]

Please stop with the soda thing. The issue is the gouging not the product. He should have focused on real food and maybe some might get it!

[@CliveBirse]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@mariaguerrero08]

If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.

[@ThomasChai05]

I agree. There's a lot of potential in the market. My friend introduced me to fiduciary guidance in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey and still earn five figures in monthly dividends.

[@mikegarvey17]

@@ThomasChai05Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.

[@ThomasChai05]

*Izella Annette Anderson* a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@Grace.milburn]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@donaldsperring5055]

Did anyone notice a few days ago there was a recall on laundry pods. There were at least 10 different brands with the same recall. Hence one manufacturer but distributed under 10 different labels

[@panzerwolf494]

I dunno if they ever got the bid back, but when I worked for Vlasic they held a contract with Walmart to make their Great Value pickles that sold for less. You got the same thing, just under s different label, and it said so right on the label "Packaged by Vlasic Foods Group". Hell i got the big ol super jug of Family Dollar shampoo and right on the bottom says it was manufactured by Head and Shoulders. But it's nearly half the price.

[@williamyoung9401]

I think it was because too many kids were trying to eat them...

[@alstclair]

This all started with citizens united. Corporations should not be able to support/buy politicians. We need to bring back Eisenhower levels of taxation. The monopolys need to be broken up. Good luck with all of that. What we have is people preying on other people.

[@fmbbeachbum8163]

It started with trickle down & deregulation (Reagan). NAFTA (Bush thing, Clinton signed into law) made it worse because it killed the unions. Greed is only good for the rich. Destroys everything else, including the planet.

[@myth2486]

Problem is the people who decide this are the ones who also benefit from this broken system and they are not enough altruistic people in power i feel like its 1 per 500 in all the offices combined lol

[@shawnschaitel838]

the 90percent tax rate was theoretical the truth is no one paid more than 40 to 50 percent

[@ShadowDrakken]

Soda is such a great example of the problem. Prior to 2020, a 12-pack of soda was about $5 and was regularly on sale for $4 or less. Today, the same 12-pack runs $10 and only occasionally goes on sale for about $8.

[@CantankerousDave]

You’re missing the added insult of them phasing in smaller drink containers, like switching from 12 ounce cans to 10. Two liter bottles of sodas in either the Coke or Pepsi lineups used to cost a little over $1 until very recently. Now they’re $2.78.

[@KevinThomas-ok2ev]

Yep, that’s that Bidenomics thing in action.

[@ShadowDrakken]

@@KevinThomas-ok2ev man, just how out of touch with reality can you get? That's capitalism. Both primary parties are capitalist scum. One party just enjoys subjugation and murder, while the other pretends to want to help people.

[@KevinThomas-ok2ev]

Easy solution here; stop buying their products. It’s not difficult at all, saves a lot of money and is far better for you.

[@ShadowDrakken]

@@KevinThomas-ok2ev "their products" means ALL products in the USA. Or have you not been paying attention? (of course you haven't been, you're not even a real person's account)

[@theromulanwarhawk]

What we have is an oligopoly is a market in which control over an industry lies in the hands of a few large sellers who own a dominant share of the market. Oligopolistic markets have homogenous products, few market participants, and inelastic demand for the products in those industries.

[@rogerforsythe5310]

There are no companies that have a monopoly. Amazon has plenty of competition. I'm very grateful for them. They have the best service of any company I've ever dealt with.

[@waltermlane9664]

Is it any wonder that a certain French owned grocery store chain have kept Pepsi controlled products from their shelves?

[@CarlaH-ep6np]

Good for that store!

[@harrisonwintergreen1147]

Who cares about the French?

[@Teamsterteacher]

So tired of these corporations and their elitist ways. Unionize.

[@timconklin2164]

How's union going change things?

[@Teamsterteacher]

@@timconklin2164 because it is my belief that change only happens when there is concerted effort from the bottom. So I said “unionize”, but I really mean organize in anyway possible. Work, communal, political, etc.

[@timconklin2164]

@@Teamsterteacher isn't PepsiCo and Coke both unionized? And if people feel that the big two are to expensive go for cheaper cola brands.

[@yourdaddy-mq4km]

Unions promote monopolization.

[@yourdaddy-mq4km]

The teachers union is investing their pension in things like apartments and housing while the teachers themselves can't even afford a home.

[@mako9673]

That is why I don't buy soft-drinks any more. They are way overpriced. And for something like soft-drinks, we can easily chose not to consume them. Other items may be more difficult to abstain from.

[@colestaples2010]

It’s tough for me not to buy them. I work such difficult long hours that I need lots of caffeine. I’m considering switching to no doze but it’s also expensive

[@aylbdrmadison1051]

@@colestaples2010 : Coffee or Black Tea. But exercise can work too. When I road a bicycle to work, I was more awake than any amount of caffeine ever did for me. Both are healthier, and in particular the bike is by far the healthiest, and works the best too.😊

[@mako9673]

@@colestaples2010 Just a suggestion; Coke's caffeine content is 34mg for a 12-oz can, and Diet Coke caffeine content is 46mg. That's three to four times less than coffee! The same-sized coffee, in this case a 12-oz cup, has 140mg or more. You can make coffee at home.

[@sylviagoodman6008]

Yeah! Like food.

[@ChristopherAbelman]

Trying to run a business is tough enough without inflation throwing curveballs. Costs are up, prices are tricky, and who knows what tomorrow will bring? Planning for the future feels like gazing into a crystal ball.

[@FinnBraylon]

For my Shopify store I focus on what I can control. Look for ways to streamline operations and become more cost-efficient. Consider exploring inflation-resistant pricing strategies to maintain profitability.

[@HildaBennet]

Financial consultants can be your guardian angel! They can help you identify cost-saving opportunities and develop inflation-resistant pricing strategies, and ensure your business stays profitable even in these challenging times.

[@PennyBergeron-os4ch]

I thought gains like that are nothing but a pipe dream! mind sharing details of yourmanager please?

[@HildaBennet]

She goes by ‘’.Sonya Lee Mitchell’ I say you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

[@PennyBergeron-os4ch]

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

[@azuarc]

While I'm not disagreeing with the primary argument, inflation going down does not equal deflation. Only with deflation will prices justifiably go down. Lower inflation just means they're going up more slowly.

[@relo999]

@@liam3284 Except they really haven't, only if you'd ignore that Covid happened and the effects it had on the economy which included having notably higher producer pricing than consumer pricing (which indicates they would sell at a loss) for roughly 2 years. It's the same level of thinking that happens all over the internet with really just boils down to "capitalism bad because amazing profits over last few years thus companies greedy!", which really just ignores the fundamental issue being the cause, heavy government spending with low government income and because of that a heavy increase in money supply. The harsh reality is that we're just experiencing the effects of government economic policy during Covid. Which was predicted to happen even at the start of lockdowns if it happened for any notable amount of time, and 2 years is certainly notable.

[@sylviagoodman6008]

Hello, inflation and price gouging are two different things!

[@vickyhanson7307]

Thank you for this conversation. Many people need to hear about this.

[@yourdaddy-mq4km]

Try listening to someone who actually knows what they are talking about.

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me. Bye bye buddy boy !!

[@brucebasile5083]

@@yourdaddy-mq4km Same old projection from this channels corporate bootlicker, Zachoff.

[@tlowe2502]

Thank you Mr Reich you are truly an American treasure. 👍🏻👍🏽👍🏾👍🏿👍🇺🇸

[@yourdaddy-mq4km]

Reich is a propagandist

[@yourdaddy-mq4km]

He's an American propagandist.

[@brucebasile5083]

@@yourdaddy-mq4km More projection from this channels Reich derangement troll, Zachoff.

[@texasca9753]

The same people setting wages are also setting prices. Fair wages, fair profits and a fair playing field. Vote Blue

[@aylbdrmadison1051]

The Workers create all of the wealth. Capitalists do not create wealth of their own. The Capitalists just decide who gets how much of the wealth the Workers create.

[@yourdaddy-mq4km]

Blue has done nothing.

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me..

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me. Buzz off !

[@texasca9753]

Your daddy, I try not to feed trolls. Blue has done plenty for me and the average American. Affordable Healthcare, Social Security, Medicare, Medicaid, public school funding, loan forgiveness for students debts, the infrastructure and climate change bills, defeated DJT in 2020....stuff like that. I'll be voting Blue in November.

[@Parrotisla]

Since the increase in prices, I’ve reduced my consumption of soda and snack foods and just about everything really. Drink water instead. Stop paying $10 for a 12 pack of soda.

[@CarlGerhardt1]

Learning how to cook real meals out of basic ingredients is one of the biggest ways to save money there is.

[@deanyanko3326]

they're all caffein addicted !

[@foehawkkid]

“Inflation is dropping but prices aren’t coming down” well no shit nobody is seriously claiming there is deflation. Prices will continue to rise overall as they have for decades because inflation is viewed as necessary.

[@sylviagoodman6008]

What are you talking about?

[@foehawkkid]

@@sylviagoodman6008 when people say “inflation is down” what they are actually referring to is the inflation rate going down. This means things aren’t getting cheaper they are just getting more expensive slower. The federal reserve claims that a decrease in overall prices is bad foe the economy so they make sure to continuously increase the money supply in order to keep inflation near 2%. When inflation gets to high they just stop increasing the money supply as fast. This is important as it means you can never expect overall prices to decrease as the federal reserve will intervene to stop that from occurring.

[@Craxin01]

Greed destroys everything.

[@NoName-ik2du]

I get annoyed whenever anyone talks about inflation, because this has all *very obviously* been price fixing the whole time. I don't care about products like pop or other junk food, because those are non-essentials. I _do_ care about regular food, car (or more specifically car part) prices, gas prices, utility prices, housing prices, etc. because _those_ are essentials that I can't just boycott like the junk food or other "want" items. All the executives at these companies should be facing hard jail time.

[@zepptar]

These companies should go to jail because you don’t agree with their pricing? You should only buy from Dem/lefty companies that do not price gouge.

[@BlueJadeU]

True. It's not just pricing. It's price gouging, and it's price fixing, which is illegal. I agree they should be behind bars. This is part of the way in which Western culture is sick. We see being filthy rich as something to be modeled and looked up to so much, that we will ignore bad actors. We will attack anybody who even complains about bad actors. It's as if many of us think that a handful of people have the right to screw over the lives of millions of other people, simply because they're rich enough to do so. Instead of calling out policies that are not in our own best interests - it's become a point of pride to champion them instead. It's so discouraging to see so many people turn into political lemmings. Sick.

[@robm9581]

lol dems like to make money also dont fool yourself unless you were joking​@@zepptar

[@JerrySpann-fn4kw]

Just another Republican corporate kiss ass.​@robm9581

[@nathanaelblais6739]

The old ways wer better,tar and feather,a night and a day in the stocks while people threw rotten fruit and offal at them...to name a few.

[@imbarmstrong]

I think a lot of people forget that dropping inflation means the speed at which prices go up has dropped. Not that the price is dropping. You need deflation to see prices dropping. But Corporations have hidden their price increases behind reported inflation.

[@sweetpealee056]

Good point👍

[@AnOldGuy164]

I was also going to correct Mr. Reich on that point, but I forgot.

[@vetinaris1297]

Yes. Finally someone gets it. Shame politicians lie about it to confuse the issue.

[@imbarmstrong]

@tedtimberson4262 the "real" inflation, such as thay caused by the results of the Pandemic has been used as an excuse by corporations to raise their prices for greed rather than true need. That's what I was referring to as hidden. Obviously raising prices then adds to inflation but they were only able to so easily get away with it because the widespread reporting of inflation primed people to accept the additional rises. And of course there is that joke where they start blaming ordinary people, who need pay rises to keep up with the cost of living increases, as being the source of the inflation...

[@aylbdrmadison1051]

@@vetinaris1297 : Progressives don't lie about. That's their platform. Only the right-wing (Capitalists) even have any reason to lie about it.

[@InnerMindCommunication]

Robert is the master of objective empathy. GO ROBERT! May your voice be heard across the U.S. and the world.

[@CarlGerhardt1]

No he's not. He's a die-hard Big Government socialist who can't face that inflation is almost always caused by an artificial increase in the money supply. (The gas crisis of the 1970's was a rare example of it actually being caused by a genuine, organic crimp in the supply of something).

[@thelibertyprojects.4747]

That’s a weird way to spell economic idiot.

[@InnerMindCommunication]

@@thelibertyprojects.4747 But your response isn't weird, for a right wing believer in greedy oppression.

[@thelibertyprojects.4747]

@@InnerMindCommunication what he says is objectively wrong. He calls Pepsi a monopoly while acknowledging that coke exists and then pretends like there no other cheaper option which is nonsense there is tons of off brand soft drinks that aren’t owned by Pepsi. He then goes on to say that they can coordinate price, again not true it’s illegal. Then goes on about a monopoly on meat which again is nonsense.

[@InnerMindCommunication]

@@thelibertyprojects.4747 What he said was close enough. You are just trolling. IMHO Controlling almost all the ads is a kind of monopoly itself. Yes, legally speaking they aren't "monopolies" but that legal position is about supporting the very rich. Does this have proof? Yes. Just look at the great distance between the poor and the handful of people who own at the least 40 percent of all wealth in the nation. When such wealth controls our government and the laws themselves and who we get to vote for that proves a "monopolistic" system. For instance, consider the well financed large companies that can and have moved into competition with small businesses without such support.. Move in lower prices and get rid of the small business.

[@MariaG-g8s]

We as a Country need to "PAY ATTENTION" to what is going on! We all have ability to Fact Check on Real issues causing INFLATION so do it!🗽⚖️🗳️🌊

[@piku5637]

A few oligarchs shouldn’t own and control the means of production, distribution and exchange. Workers make the world run, workers should run the world.🇨🇦🇺🇸🌎

[@31darkstar37]

Socialism is starting to become popular among a few people, with more added each day.

[@aylbdrmadison1051]

@@31darkstar37 ❤🌍🌎🌏🌐

[@yourdaddy-mq4km]

​@@31darkstar37🤦‍♂️ socialism is the ultimate monopoly.

[@iche9373]

It’s not real social Justice if your union only represents the workers, what about those who can’t work?

[@yourdaddy-mq4km]

Right of production isn't owned by the oligarchs yet but you guys are pushing towards it pretty quickly.

[@ssgtmole8610]

We let grocery companies buy up other grocery chains and then they pass on the cost of the loans they take out to finance the buyout on to their customers. And any perceived or real "food chain issue" is used as excuse to price gouge - not just reacting to shortages.

[@bobsacamano7653]

worse than grocery prices are housing prices

[@sujimtangerines]

Leveraged buyouts should be illegal. Look what it did to Kmart/Sears. I mean, the guy in charge of the whole endeavor was a retail idiot, but an idiot that knew about financing & hedge funds.

[@ssgtmole8610]

@@bobsacamano7653 Food is a more immediate need. We can send the homeless to warmer states like texas or florida. I'm sure the evangelical governors there will help out. 🙃

[@Scornfull]

That's literally not how it works how dumb are you 💀

[@Scornfull]

@@sujimtangerines No they shouldn't do you know a lick of economics? Because you clearly don't and that ideal of yours would be pretty catastrophic to the economy

[@chriskriskovic5914]

I think the current soda strategy is to price high and frequently have on sale for a special price which makes people think they’re getting a deal if they buy two or whatever

[@kgood7963]

Yes, it's the brilliant CEOs plan to take advantage of all the clueless people with no ability to think for themselves so he can buy another yacht for his new $60 million dollar beach front estate...

[@wayausofbounds9255]

Or you could stop buying their products. Since 2021 MacDonalds have increased quarterly profits from around 10 billion per to the current 14 billion per quarter. However this year their sales started to drop, which created a feedback loop for them, raising prices to make up the difference which makes sales fall faster. It's to the point now that shareholders are questioning the CEO over falling sales and revenue. We don't need Coke, or Pepsi or MacDonalds so stop using their products. There are some products that we can't just stop buying, and we still need the Feds for those, but we need to stop being manipulated by businesses and be a self-correcting market too.

[@judehylton9692]

Congress needs to TAX these thieves....called them and expose them!!

[@user-zu5do6ri6r]

Could you please elaborate on the rationale behind the potential taxation of Congress and the specific mechanisms through which such taxation would be implemented?

[@jeffreywilheim5970]

Selling something for the price the market will bear is not theft, but thanks for playing.

[@saltfarmer4008]

So OP wants some extra stupid tax? They'll just give it to Ukraine or something dumb 😂😂😂😂

[@3namechangezalowdevry90day7]

Cost of extra taxes on "big corporations" get passed on to their many customers.

[@ramonaboston3161]

@@user-zu5do6ri6r I'd like to see a sugar tax.

[@चाैतारीटिभी]

Other things they can do if possible is to stop consumption.I have not drank a sip of those two drinks and similar others for more than a decade ago because they are not healthy.Learn to cook healthy foods that are plant based.The list can go on and on as per the personal preferences and choices.

[@ThomasRaffertytoeeewkuo8okk3]

We need a wealth cap

[@onilord1830]

and some republicans are fine with this.

[@colestaples2010]

All republicans in congress are good with it. They are big investors

[@acerimmer8338]

Some???

[@aylbdrmadison1051]

@@RomanticPhantom0 : All R's + all corporate D's.* This is Capitalism doing what Capitalism does: greed. I wish more people remembered what things were like before the 80's. Small family owned businesses everywhere, a person with a minimum wage job could afford to buy a house, we had the world's #1 public school system, and a person with a weekend job could pay their way through college.

[@aylbdrmadison1051]

@@colestaples2010 : And all corporate Dems. This is exactly why Capitalists overwhelm people with Red Scare propaganda, to the point where most are literally afraid to read any Leftist source material. Sadly most Americans believe there is just the one political axis: Left/Right. There are at least three though. Wealth distribution; Left/Right. Rule: Egalitarian/Authoritarian. Social Ideals: Progressive/Conservative/Regressive.

[@stevenreeves8821]

@@colestaples2010 exactly

[@MyopicTurtle]

The fact people haven't switched to water, or tea, or literally anything else that won't inflate you with blubber says more about the people buying than the greedy corporations.

[@BlazingShackles]

Its both. But consumers are their own worst enemies. Prices go up and they just keep paying them. Idiots, just say no. We don't need half the crap we buy anyways. Try saving some money for a change and secure your future.

[@BlueJadeU]

When over 80% of your paycheck goes to essentials like rent, utilities, etc. - that advice just doesn't cut it anymore. It's like blaming the victim.

[@BlazingShackles]

@@BlueJadeU I have real blue jade from Indonesia. stuffs awesome.

[@BTrain-is8ch]

@@BlueJadeU When 80% of your paycheck is going to essentials you need to figure out how to get a bigger paycheck instead of worrying about "corporate greed"

[@deanyanko3326]

you notice bacon coming down the big fad is over pile of grease !

[@BTrain-is8ch]

@@liam3284 If I can't find someone to work for $7.25/hour either I will pay more or I won't get that work done. You can't complain about only making $7.25/hour because you're the one that signed up for it. If you don't like it go do something else. Stop blaming other people for your inaction. Buyers ultimately decide what things are worth by choosing whether or not to buy.That includes labor. Businesses, just like any other consumer, want to purchases the goods/services they're interested in at the highest quality/lowest price combination. The geniuses that accept a paycheck "so small" are their own worst enemies.

[@Dudeman9339]

Right. It all boils down to a handful of conglomerates owning 95% of all retail.

[@kolt4d559]

It is not inflation, its price gouging.

[@acerimmer8338]

When it comes to soda, I'm actually glad they're jacking up prices. I work in healthcare and have seen the damning effects soda has on millions of Americans. Sugar is the 'new' tobacco. That said, late-stage capitalism is gonna eventually collapse this country.

[@ramonaboston3161]

I'm advocating for a sugar tax!

[@RomeoSfait]

Transfer of wealth usually occur during inflation and market crash at times like this. So for me,this is time for aggressive investment. The more stocks drop, the more I buy. I'm just focused on making better investments and earning more as recession fear increases.

[@LancEthan]

Keeping money in the bank is like paying banks and the Govemment. Here's how it works: The bank gives out your money as loan, and charge interest obviously higher than inflation rate, and then give you, the depositor, interest lower than inflation rate. That means net loss for you. That is why I prefer to invest, and on average, my advisor makes returns that always beats inflation!

[@catherinerea3569]

To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.

[@LancEthan]

Svetlana Sarkisian Chowdhury a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@ShukriVikas]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@matthewcaldwell8100]

@@ShukriVikas Screw these bots

[@zigzagelfy1320]

Sad when they're are laws to stop this but not enough people know about price gouging, similar products but marked up 20% or more! A gallon of water varies 20-50% more than store brand.

[@Justin-Hill-1987]

This is why we need more politicians like Bernie Sanders in politics, the kind of politicians that know what to do to fix our economy when our American dreams are being crippled by greed...

[@LB-gj1yd]

Sick of all the greed, it is disgusting and we are all sick of the lies. We are are drilling more domestic oil right now then in the past 40 yrs, and the gas companies keep hiking the prices higher weekly. It is disgusting and we know what they are doing.

[@jonathantaylor6926]

The issue isn't getting crude oil out of the ground... it's refining the raw material into gasoline and other finished products. We have a shortage of refinery capacity. This shortage will remain because refineries cost tens of billions of dollars to construct and no oil company wants to take that risk. A refinery can last for many decades, most in the USA are over 50 years old... but the oil companies are worried about where the industry is going in 10 or 20 years with the push for electric vehicles.

[@24_Delta]

But the market is global. Oil companies aren't going to sell exclusively to the domestic market to keep our prices down when they can sell into the global market and get a higher price per barrel.

[@davidwilliams4498]

Ive know for a long time you cant fix greed. Its literally no different thsn a bad alcohol or drug addiction literally very similar

[@BlueJadeU]

All you can do is put them in "time out". Ha ha.

[@bigcatproductions2789]

Potato chips cost more than Beef ! ?

[@humboldthammer]

Yep.

[@lindastimer8667]

It's called GREEDFLATION. At the corporate level. Just read on my phone. That a Big Mac meal is $18.00.

[@tato-chip7612]

I love how this guy is wrong on the first 5 seconds. >inflation is dropping. No its not. Inflation rate is dropping. You still have inflation. If I start walking instead of running I am still moving forwards.

[@FlannelHobbit]

"This guy?" You mean Robert Reich, a former Secretary of Labor and one of the most respected economic voices of the last 50 years? He's simplifying language to make it most accessible to the general public. Are you going to write off the other 99% of the information simply because you don't prefer his framing abstract in the intro?

[@tato-chip7612]

@@FlannelHobbit If you start off on a false premise you are not explaining nothing more than an imaginary scenario.

[@IchCharacter]

@@FlannelHobbit Nice appeal to authority. What "information"? This guy is quite clearly being deceptive by "simplifying language". As long as inflation rate stays above 0%, the prices will never go down and you would have to be stupid to believe that prices would go down while inflation keeps increasing at any rate. If I take something and value it at 100$ with an inflation rate of 5% one year and 3% in the next year, it will cost 105$ after the first year and 108.15$ in the second year. But inflation rate went down, why didn't it get cheaper?! Do I need a doctor title to point out this question is either plain stupidity or deception? Nice he had a fancy title for a few years, but even a genius couldn't pack the information you'd need to reach a definitive conclusion about whether price increases were justified, greed or something in between in five minutes.

[@FlannelHobbit]

@@IchCharacter He has an entire channel covering macroeconomics you doucheweasel. The key part being "macro." He can't cover every facet of economics in a single video, therefore he has to paint in broad strokes to convey fundamental principles. You're just some random dude on the internet. You think you have a better understanding of macroeconomics than a man who's worked in the field for 50+ years of his life at every level of government and business?

[@jjbgmb719]

If the cost to make that good went down and a company raised prices. Thats also what he is talking about

[@bigcatproductions2789]

How can a 20 oz. Pop retail for $ 2,49 - $ 3.00 ????

[@hfc3249]

Don't buy at 7-11!!! $2.49 for a liter of plain water!!!

[@steverutkowski3546]

Because you have a bunch of greedy bastards running these companies, And the regulations against price gouging are nowhere near strong enough.

[@sweetpealee056]

​@hfc3249 not just 7/11 any more...the grocery stores too!

[@MyLoganTreks]

You are paying for their executive teams extremely high compensation over their avg hourly workers. Just wait until they can automate that process as well and eliminate more jobs.

[@humboldthammer]

See bottled water

[@aaronjjacques]

You need deflation aka negative pricing costs. Having prices increase at a slower rate still represents an INCREASE in pricing.

[@yourdaddy-mq4km]

Reich isn't smart enough to know that.

[@user-qr7ee2cp4y]

Stop drinking soda... I went to coffee during the week and I've stopped ordering soda at restaurants for $4 a glass that servers don't want to refill anymore.

[@wileynowling]

That will show em!!!!! What about the other 99% of food products. It was an example, not the point.

[@cobraofearth]

yup they likely own a lot of the coffee that you buy too, and tea. That is on top of the food. If everybody stopped drinking coke overnight they would be fine.

[@margaretsmith9637]

Bob, what about a windfall tax when companies make huge profits?

[@Resmith18S]

This video indicates you don't need a high IQ to be a good investor, just 2 qualities, self discipline and a lot of patience. Investing is mostly about behavioral psychology. How can I generate more income to retire with at least $3m for long term care?

[@LeepinLeopard]

investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid

[@Petroguest-i4g]

It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $45k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.

[@2024Red-j5t]

I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.

[@wealthychronicle-i1u]

I've experimented with a few over the past years, but I've stuck with the popularly ‘’Melissa Elise Robinson for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@Countstep0099]

thanks for putting this out, curiously searched Melissa on the web, found her consulting page and was able to schedule a call session, no sweat !

[@antlerman7644]

That is absolute insanity, this is a massive problem in the UK too. P.S. glad you have sourced your claims.

[@patriciadee-kelly2877]

We need this in the democratic campaign information.... so clearly spelled out.

[@yourdaddy-mq4km]

The Democrats caused this.

[@cttv90108]

you can really see it in the cereal aisle. the $6 kellogg's box vs the $1.99 store brand

[@humboldthammer]

As the bankrupt contractor said about his competition: "I used to under-bid that guy all the time."

[@yaash4123]

At my grocery store the store brand would get raised to 4.99

[@emblaze2473]

But lower inflation doesn't mean lower prices, unless it actually goes negative; it's the rate of increase. He does explain this later in the video but the beginning part is a bit misleading.

[@gedocowboy8484]

I’ve been talking a lot about this lately. Everybody needs to stop buying from these billionaire companies, only buy what’s necessary, stop eating overpriced fast food and such. We need to shut them down, force them to offer normal prices. Get yourself a cheap used hybrid, a grill to cook your own burgers, make your own desserts, don’t go to the movies, ect. Find alternatives, this is nuts. Here in California I’m not going to pay the ridiculous prices for unnecessaries anymore.

[@MySweetHeart-yu9zz]

GREEDFLATION!

[@yourdaddy-mq4km]

Goveflation

[@MySweetHeart-yu9zz]

@@yourdaddy-mq4km Big company gougeflation!

[@yourdaddy-mq4km]

@@MySweetHeart-yu9zz big companies didn't decide to print money and refuse Russia energy

[@MySweetHeart-yu9zz]

@@yourdaddy-mq4km In case you forgot, Russia wants to destroy the US. How much cheap russian vodka are they paying you?

[@brucebasile5083]

@@yourdaddy-mq4km As I predicted you're back spewing the same old delusional babble Zachoff. You've been rendered irrelevant here by me..

[@Jkend199]

Maybe you've already talked about this, but it's worth revisiting. Tons of people are talking about how California's (yes I live in CA) minimum wage for "Fast Food" increase. If you don't know CA raised the minimum wage for fast food workers to $20 USD / hr. Now to some of you that sounds nutz, what you have to realize is that the cost of living in CA is very high, in CA the average cost of RENT is $3000, does that put things in perspective... People are up in arms about how the minimum wage is going to destroy CA's restaurant business. So an industry that has for years gotten away with paying people poverty level wages is being forced to pay people let's be honest still poverty level wages, just less so... at $20 / hr a person who works 40 hours a week can expect to make $3200 a month before taxes, probably $2800 after taxes, THATS LESS THAN THE AVERAGE COST OF RENT IN THIS FUCKING STATE, to say nothing of, oh I dunno, buying food or gas for the goddamn car. So, why are wages too high... when we're not paying people enough to pay the rent... Why are we ok with an industry that survives on paying people so little they can't afford to rent a place to live, on full time employment. MAYBE MORE TO THE POINT, why is it that WAGES are too high, why isn't it that the cost of lease payments are too high, why aren't the costs of franchise payments too high, why isn't the cost of the food that these franchise's buy from Mc Donald's too high, only wages are too high... so the rich people who lease the place to the franchise's and the rich people who make billions selling franchises chicken nuggets and fast food licenses they aren't making too much money no no, the problem is the guy at the bottom of the food chain making $20 an hour....

[@alterego6075]

Profits over people. It's funny (and by funny, I mean infuriating) how the labor manages to bring in millions in profits... but only for the ones that never even touch a burger or set foot in a restaurant.

[@alterego6075]

@tedtimberson4262 Nope. Sorry Champ. Rent goes up when the landlords profits go down. Period. And... how tf can there be no jobs, AND low wages in one area? Cheap rent still costs real $. You're only coming off as entitled and rude. But you do you. This is America after all. Smfh.

[@fmbbeachbum8163]

@tedtimberson4262 man, you're really stup!d.

[@alterego6075]

@tedtimberson4262 That's a great question and you kinda answered it yourself lol. You're the one that told people to move there, not me.

[@alterego6075]

@tedtimberson4262 From my experience, no jobs equals NO wages. You're literally arguing with yourself rn smfh. You told people to go there if they want cheap rent... how do they pay for cheap rent with no job? What income do YOU expect them to have? JFC.

[@thetruedemocraticnorth]

inflation is the autocracy of the capitalist class.

[@mildol7271]

In my opinion. When companies are making record profits it’s obviously GREEDFLATION❗️

[@matthuck378]

We need to transition to a system where the workers own the companies they work for, and elect their management. It could be done smoothly, too.

[@denelson83]

And just how do you think that is going to happen? Proposals without any methods of implementation are pointless.

[@villevalste1888]

@@denelson83 There already are plenty of ways to implement worker owned production, such as small businesses and cooperatives. The real problem is that they are bullied out of the markets by these monopolies. It's really the anti-trust enforcement that we need to fix the economy.

[@denelson83]

@@villevalste1888 Unfortunately, the big corporations have defanged anti-trust law in the US.

[@villevalste1888]

@@denelson83 Sounds like a you problem. Here in the EU, corporations get sued for anticompetitive practices all the time, and they even get more than a slap on the wrist every now and then.

[@denelson83]

@@villevalste1888 But I am in Canada.

[@NothingThere739]

Inflation rate going down does not mean prices will go down. Even from the get go this video is incredibly deceptive. For the people that actually care about objective reality at all. When people say "inflation is going down" they are talking about inflation rate. Inflation rate is simply the speed at which the currency is inflating. Even if the inflation rate was zero prices would not decrease. Deflation is when our currency increases in value.

[@MarkVanDyne]

Products are kept high also from marketplace greed. Corporations will pay higher prices for shelf space to squeeze out competition and retail outlets welcome that.

[@peterpandemonium3336]

Dr. Pepper has become the No.2 soft drink passing Pepsi in 2024.

[@artfrontgalleries1818]

My fave is Goya. The can of beans I bought for $.79 eight months ago now cost $2.50. It doesn't cost me that much because I won't buy at that price especially as I know that Goya is reporting, very proudly announcing all time record profits. I live in a community that is heavily weighted to recent Hispanic immigrants. They literally don't know any alternative products. Robert Unanue, the CEO of Goya was borne in Wykoff, NJ. An affluent town in Bergen Co NJ and is a close friend and supporter of Donald Trump

[@johng.2305]

Sadly, in all these cases, the company makes more money with fewer sales because of the exorbitant price hikes.

[@antoniotrivelloni8191]

"Inflation is dropping, but prices aren't going down" *Shows the inflation rate* my brother in Christ that does not say what you think it says Serious question though, does ANYBODY consider this guy a serious economist?

[@chieftain5571]

Defining inflation as Cost of Production is, a little off bore. But its all generative anyway. Pepsico jacks prices without 'necessity', as in COP defined, everyone else in the chain, wholesalers, shipping, retailers do so as well. Now COP price increase at Pepsico becomes an operations mandate, as everywhere in their chain has raised prices. The first move, frivolous according to the vid, could only succeed absent meaningful competition. Its You Tube. A lot viewers stumbled in from a Cat vid, or Taylor Swift's poetry album. CSIC, Amer Econ Journ, Journ of Econ, and other, dry sources map his claims much better.

[@antoniotrivelloni8191]

@@chieftain5571 I assume you are utilizing the PPI to calculate cost of production, as this video does as well? If so, that is breathtakingly dishonest. PPI and CPI calculate fundamentally different things. For example, PPI does not factor in imports, while CPI does.

[@Mark-h9r5y]

Channel GodChristLord: Thank you Dr. Reich. As I have stated before, I believe that greed is the biggest problem in America. For example, Pizza Hut which has been around for over 50 years raised its price for a 'personal pan pizza' from $4.80 in February to $5.90 in March. Now, I went for lunch and the same pizza is $6.85. Why the increase in over $2.00? The result, goodbye Pizza Hut!!!!

[@Onaqui1989]

Pizza Hut owned by PepsiCo since 1977

[@travelinghammer4698]

The ONLY solution is to boycott and NEVER buy again from those companies. Grow your own food, and shop local.

[@RextheRebel]

A lot of counties and HOAs don't allow us to grow food, and most local stores are gone..

[@bradredford4846]

You know at this point something really major sounds really good for our country.

[@mikebrown-ic3ge]

Though based on greed, hopefully, the higher prices will reduce the consumption of Pepsi and Coke ultra-processed junk foods. America desperately needs to lose weight.

[@HarvestStore]

Great video.

[@kevtheobald]

Just remember the US Congress writes the rules and funds the enforcement, yet seem to cater to the corporate elites over the citizens. Reform is badly needed. All this anger at CEOs and elites should be directed at both parties, which is a monopoly hurting the nation. The root of the issues is the US Congress. Money in elections, US Congress is the root. Corporate greed unchecked, US Congress is where change needs to start to fix that. So many issues that frustrate people are caused and/or can be fixed if the US Congress got a major overhaul which includes transparency and accountability.

[@xjarheadjohnson]

Americans think of the, *historically prosperous, 1940's & 50's* when they reminisce about America's "greatness." Do you know the top-marginal tax rates for the richest during those, historically prosperous, decades? *Historical U.S. Highest Marginal Income Tax Rates* _"The top income tax rate reached above _*_90%_*_ from 1944 through 1963, peaking in 1944 when top taxpayers paid an income tax rate of _*_94%_*_ on their taxable income."_ SOURCE: Tax Policy Center - online 9-Feb-22 The average working citizens of other 1st-world nations, often pity ours. *McDonald’s Workers in Denmark Pity Us* _“Danes love America,” Hummelgaard told me. “But there’s no admiration for the level of inequality in America, for the lack of job security, for the lack of health security, for all those things that...create a good society.”_ SOURCE: NY TIMES, by By Nicholas Kristof - May 8, 2020 _"Democracy has become a business plan, with a bottom line for every human activity, every dream, every decency, every hope. The main parliamentary parties are now devoted to the same economic policies - socialism for the rich, capitalism for the poor - and the same foreign policy of servility to endless war. This is not democracy. It is to politics what McDonald's is to food."_ *- John Pilger* (journalist, writer, scholar and documentary filmmaker) Is it just coincidence that ALL the happiest nations on Earth, are also nations with some of the highest tax rates on Earth, with free medical care, ample paid time off & FAR superior education systems? *The Happiest Countries in the World* _"Finland leads the ranking of the world's happiest countries for the sixth year in a row, according to the 2023 World Happiness Report... score (7.80)...Denmark in second place (7.59), Iceland in third (7.53), Sweden in sixth (7.40) and Norway in seventh (7.32)"_ SOURCE: World Economic Forum, by Anna Fleck - Mar 23, 2023 _“When it can be said by any country in the world, my poor are happy, neither ignorance nor distress is to be found among them, my jails are empty of prisoners, my streets of beggars, the aged are not in want, the taxes are not oppressive, the rational world is my friend because I am the friend of happiness. When these things can be said, then may that country boast its constitution and government.”_ *- Thomas Paine, Rights of Man* _"We need to question this notion that capital only belongs to the owners when we can't achieve anything without workers. _*_We're doing capitalism wrong,_*_ and were going to kill ourselves in the process unless we rethink it."_ *-Abigail Disney* (Disney Heir, documentary film producer, philanthropist, and social activist)

[@spotthedogg]

Why would corporations drop prices when they’ve already seen people will continue to pay?

[@jordanmiller4102]

Key distinction: lower inflation does not mean lower prices; that would be deflation.

[@bane3991]

And now you see why Reich doesn't show up for debates when economists call him out. He knows this. That's why he's not showing up. It's easy to deceive the average person.

[@InnerMindCommunication]

Shared as always. And I put a link to your channel in every video I have made for quite some time now, and I do a video every day. Getting kind of tired but I can't stop going. We need more empathy and awareness in our voting and we need it at every level of government and beginning locally, to lay the ground work for the statewide and national elections.

[@alphaepic6335]

“It’s a paradox: Inflation is dropping but prices aren’t coming down.” Do you even know what inflation is?

[@roberttower8059]

Same

[@AVIATION727-10]

Thank you Mr. Reich! We need to continue to speak with our spending and support equivalents or cheaper alternatives and support competitive brands before they get bought and there are none😮

[@shadowprince4482]

Also try buying off-brand if you can or don't buy it at all. Puts pressure on those companies to lower their prices. I live in a semi-expensive state and bought a month worth of groceries for $150 and no it wasn't a basket of ramen. Veggies, fruit, meat although the only beef we bought were marked down corned beefs, dairy, and canned goods. There was one item that was on sale for the exact same price as it was on sale 8 years ago. $1.68 for Dennison's chili. How'd I do it? I just shopped at Thunderbird which is a smaller grocery store chain. I only go to the major stores if they have a major bargain on something that I can stock up on without it going bad.

[@EvaGrammer]

You need to teach your tips and skills to the poorer people, who frequently have limited food buying resources (food stamps) or limited transportation options so they have to shop at whatever store they can get to. They'd love to know how to get a month's worth of groceries for $150. Hey, I'd love to know that.

[@olalan]

I'm all for Pepsi charging whatever they want. The problem is when people are gouged on their basic needs.

[@ernestdunphy7027]

Tap water and store brands. The price differential on Lays is not justified by a difference in quality. Store brands are better value in many cases.

[@johndemars2551]

Buy alternatives whenever you can, or nothing at all. If enough people hit their bottom line, they will have to listen. Until then,consumers will save some money.

[@charlieh1932]

They own the alternatives as well. When it comes to mass public action there’s a correlation between our morals and our convenience. Most people aren’t going to sit in an aisle googling the parent company of each brand. Pepsi and Coke alone control most beverages including water. Good luck avoiding General Mills. Even if as consumers, we all boycott these companies they’d just buy the mom and pop shops. The most effective measure to combat monopolies is enforcing and strengthening anti trust laws. We are now in the age where capitalist must be saved from themselves

[@denelson83]

@@charlieh1932 But those same big companies have pulled out all the stops to completely defang anti-trust law in the US. You cannot hope to change this, because to a big corporation, you are nothing but a flea.