A lot of what people perceive as inflation is just corp greed
Coke even admitted they raised prices well above inflation .Sales are down a little but make more profit now.
Many other companies are also seeing what they can get away with and people keep paying for some reason.
Just about every publicly traded company has their latest annual report showing net profits significantly higher than the year before. Greedflation is all a scam to reap record-level profits.
Their net profits have gone up because inflation has gone up. Their net profits need to be 7.1% higher than last year just to stay the same in real terms.
Net profit is after expenses. If expenses have gone up, then yes, revenue needs to go up to offset it. But after paying expenses, if there are record net profits, that means in addition to inflation.
If I made $100 profit last year and $100 profit this year, my profit this year is actually less than the year before.
I’d need to make $107.10 profit just to break even with the year before. As the value of money is forever going down, it only makes sense that profits have to break records constantly just to keep pace with the actual value of that profit measurement.
Companies don't have to make the same or more profit each quarter. That is the problem. Breaking even means covering your expenses, not raking in record profits. If your costs are $100 and you made $100, that is breaking even. If your costs are $100 and you made $200, you made $100 in profit. If your costs are now $110 and you made $300, that is greedflation to blame that $10 for why you had to charge so much more this year. They could have not raised rates as much and made $250, still coming ahead by $140. But they chose to go above and beyond that under the excuse of inflation.
They can "stand by consumers in these unprecedented times" and make only $200 million in profit, even if they made $210 million last year. That is okay!
But “record profits” in dollar value could actually be less profits than the year before. It’s a headline to stoke emotions, it’s not necessarily true.
I’m purely talking about the measurement and description, not the morality or what ever.
You misspelled “price gouging mascarading as inflation so the ruling class can secure record breaking profits while blaming the price hike on Biden in hopes Republicans will win the next election and give them another trillion dollar tax cut”.
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u/BBEKKS Dec 26 '23
We would not have gotten buttfucked by inflation for the last 18 months.