During Antitrust Trial Exec Admits Jacking Up Egg And Milk Prices Above Inflation

pknopp said:
He bears some blame, along with Bush, Obama and Trump (and yes there are others).
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The way we blame, or give credit to, Presidents for the state of the economy is utterly ridiculous.
 
dblack said:
The way we blame, or give credit to, Presidents for the state of the economy is utterly ridiculous.
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They bear some blame. The debt has also been a driver of inflation. Every penny of debt is signed off on by the president.

To use another example, Ben Bernanke was constantly telling us how housing and the banks was fine. He continued to push the programs that led to the collapse in 2008. What did Obama then do with the guy who had failed miserably? He renominated him.
 
Run to the defense of corporations? Nope. We need more watchdogs on them.
 
You libs might want to put your kids in another room and cover your ears for this because apparently you were taught nothing about economic systems.

Companies will try and get the highest prices they can for their products.

Once you've internalized that, you can go look up market economy, the profit motive, monopolies, and the history of price controls and central planning.
 
Burgermeister said:
You libs might want to put your kids in another room and cover your ears for this because apparently you were taught nothing about economic systems.

Companies will try and get the highest prices they can for their products.

Once you've internalized that, you can go look up market economy, the profit motive, monopolies, and the history of price controls and central planning.
Click to expand...

For the 100th time, the issue is when business makes poor business decisions they come running to the government (taxpayers) to bail them out.

"Did you just want the banks to go out of business"?

Yes I did. In your land of vast generalizations you were also taught that in business vacuums always get filled. Other banks that weren't as irresponsible would then step up and fill the vacuum.
 
Burgermeister said:
You libs might want to put your kids in another room and cover your ears for this because apparently you were taught nothing about economic systems.

Companies will try and get the highest prices they can for their products.
Click to expand...
Sure, like Trump does to his cult.
Burgermeister said:
Once you've internalized that, you can go look up market economy, the profit motive, monopolies, and the history of price controls and central planning.
Click to expand...
Yeah, by the companies themselves.

Explainer: How four big companies control the U.S. beef ...​

1725016180369.webp
Reuters
https://www.reuters.com › business › how-four-big-co...
Jun 17, 2021 — When factoring in other cows used to make hamburger meat, the companies comprise about 70% of total U.S. beef production, according to the North ...

Four companies slaughtered about 85% of U.S. grain-fattened cattle that are made into steaks, beef roasts and other cuts of meat for consumers in 2018, according to the most recent data from the U.S. Department of Agriculture (USDA).



The Top Pork Producer in the U.S. Is Owned by China, but ...​

1725016791920.webp
sentientmedia.org
https://sentientmedia.org › Food
Feb 26, 2024 — Pork is the most-consumed meat in the world, and American pork farms play a major role in facilitating this. There are over 66,000 pork ...




Who controls the world's food supply?​

1725017005596.webp
DW
https://www.dw.com › agriculture-seeds-seed-laws-agri...
Apr 8, 2021 — Today, four corporations — Bayer, Corteva, ChemChina and Limagrain — control more than 50% of the world's seeds. These staggering monopolies ...




What Is “Big Ag,” and Why Should You Be Worried About ...​


The Equation - Union of Concerned Scientists
https://blog.ucsusa.org › karen-perry-stillerman › what-is...
May 9, 2024 — By 2018, just four firms—Syngenta Group, Bayer, Corteva, and BASF—controlled around 70% of the global pesticide market. Meanwhile, fertilizer ...
Missing: Vegetable ‎4
 
skews13 said:
A top Kroger executive admitted under questioning from a Federal Trade Commission attorney on Tuesday that the grocery chain raised its egg and milk prices above the rate of inflation, a concession that came as no surprise to economists who have been highlighting corporate price gouging across the U.S. economy in recent years.

Groff's comment came in response to questioning about an internal email he sent to other Kroger executives in March. In that note, Groff observed that "on milk and eggs, retail inflation has been significantly higher than cost inflation."

A Kroger spokesperson told Bloomberg in a statement that the email was "cherry-picked" and "does not reflect Kroger's decadeslong business model to lower prices for customers by reducing its margins."

But Rakeen Mabud, chief economist at the Groundwork Collaborative, noted Wednesday that "execs all over the economy were saying this stuff on their earning calls back in 2021."



www.rawstory.com

During antitrust trial, exec admits Kroger jacked up milk and egg prices above inflation

A top Kroger executive admitted under questioning from a Federal Trade Commission attorney on Tuesday that the grocery chain raised its egg and milk prices above the rate of inflation, a concession that came as no surprise to economists who have been highlighting corporate price gouging across...
www.rawstory.com www.rawstory.com

The pandemic played no part in supply chain issues on milk,or egg prices. These aren't imported products, and those farms were producig the same amout of milk and eggs, and the trucks delivering them were running with plenty of cheap fuel. The prices before and since are 100% corporate price gouging, the companies themselves gleefully admitted to.
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Cute, then why did every other grocery store do it too? EVERYONE went up on milk and egg prices, not just Kroger. Wal Mart being the biggest.
 
Nuthin' Fancy said:
The Trump cult blames the "Gubmint" for inflation.
Then when they find out, it was corporate greed all along, that caused most of it..........
They defend corporations.
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Corporate greed? The OP says Kroger did it, want to explain why Wal Mart did it? Costco? Brookshires?

I can tell you why they did it, because transportation costs went through the roof. Diesel went from 1.75 a gallon to 5 a gallon under Biden. That expense will be passed along to consumers as an increase in prices. Biden saying on day 1 he would shut down the oil and gas industry scared the shit out of everyone and prices shot up.

The reason we have inflation is because we have a fuck up in the white house. Let's get Trump back and get back to normalcy.
 
pknopp said:
For the 100th time, the issue is when business makes poor business decisions they come running to the government (taxpayers) to bail them out.

"Did you just want the banks to go out of business"?

Yes I did. In your land of vast generalizations you were also taught that in business vacuums always get filled. Other banks that weren't as irresponsible would then step up and fill the vacuum.
Click to expand...
well that's not true, not for most businesses....we had some banks and brokerage firms that did that, and of course Chevy and GM.

The vast majority of businesses don't get bailouts, they have to close down, or go through bankrupty.

I agree with your point, in particular what we saw with GM, Obama "bailed" them out, they still went bankrupt, and then the entire city of Detriot had to file for bankrupty.
 
pknopp said:
The OP says Kroger said Kroger's did it. That doesn't mean others didn't also.
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Well where is the proof? Wouldn't it be smart, if you want to increase sales, if your competitor increases their prices that you DON'T increase yours, and advertise as such? Why would a company WANT to jack up prices when they don't have to? Do you not know when you jack up prices, you DECREASE sales? Do you have any clue how to run a business? Apparently not.
 
struth said:
well that's not true, not for most businesses....we had some banks and brokerage firms that did that, and of course Chevy and GM.

The vast majority of businesses don't get bailouts, they have to close down, or go through bankrupty.

I agree with your point, in particular what we saw with GM, Obama "bailed" them out, they still went bankrupt, and then the entire city of Detriot had to file for bankrupty.
Click to expand...

GM was not a proper bankruptcy which means they will be at the taxpayers door again in the future.
 
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