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

[struth]

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.

Haha well why hasn’t harris done anything about it? She’s been VP for four years?!? The dems have had the White House for 12 of the last 16, clearly they are in bed with corp greed

 

[HikerGuy83]

yet no one was ever short on eggs.

We certainly had shortages where I live.

But that is the reason you have price increases. So you don't have shortages.

As prices go up, those looking to buy eggs decrease. This keeps them available for those who want them.

If prices are to high, the eggs sit on the shelf. That didn't happen.

 

[pknopp]

Haha. No

Econ 101. Yes.

You can't pump trillions and run on trillions more in debt and not have inflation. Corporations then took advantage of that (which is what they do) and ran wild with it.

 

[CrusaderFrank]

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."

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

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.

They’re trying to keep ahead of Bidinflation!

How is that wrong?

 

[pknopp]

Haha well why hasn’t harris done anything about it? She’s been VP for four years?!? The dems have had the White House for 12 of the last 16, clearly they are in bed with corp greed

We have curtailed the pumping. Things have slowed down (are you able to see the correlation?). Sadly the debt will still be an issue.

 

[pknopp]

We certainly had shortages where I live.

Where?

But that is the reason you have price increases. So you don't have shortages.

As prices go up, those looking to buy eggs decrease. This keeps them available for those who want them.

If prices are to high, the eggs sit on the shelf. That didn't happen.

Stores were still stocked full of eggs.

 

[HikerGuy83]

Where?




Stores were still stocked full of eggs.

Not where I live.

 

[pknopp]

Schwalb found the title companies operating in and around Washington—one of the most expensive housing markets in the country, with some of the highest mortgage-closing costs—offered real-estate agents direct payments in exchange for customer referrals. At least one of the title companies also rewarded agents’ referral business with lavish yacht parties on Chesapeake Bay.

The practices aren’t unique to Washington. Academics and real estate professionals say such arrangements have become more commonplace nationwide, particularly in the wake of the red-hot, postpandemic housing market, when title companies used the partnerships to lock in market share. Critics within the industry, including agents and title companies that shun the arrangements, say the profit splits lead to inflated fees.

https://www.wsj.com/us-news/law/the...s-that-inflated-costs-for-homebuyers-6bc9a6bc

 

[HikerGuy83]

Econ 101. Yes.

You can't pump trillions and run on trillions more in debt and not have inflation. Corporations then took advantage of that (which is what they do) and ran wild with it.

You guys somehow think corporations restrain themselves.

They will ALWAYS get the most they can for their products. That is their job.

That is why competition (which democrats seek to destroy) is so important.

That is fundamental.

No company arbitrarily sets high prices. The set the price that clears the marketplace and leaves no one wanting (at a specific price).

But the left does not understand that. They read a bubblegum economics out of a crackerjax box and get all wet in their drawers.

My favorite.....gasoline. Supply gets interruppted and prices go up significantly. They scream gouging. Gasoline is very inelastic in the short term (meaning you have raise prices a lot to shed just a few consumers). If you don't shed those consumers, you have gasoline shortages. It's the way it works.

Deal with it.

 

[HikerGuy83]

Critics within the industry, including agents and title companies that shun the arrangements, say the profit splits lead to inflated fees.

They must have everyone on board because those inflated fees would drive down demand and people will go with the better deal.

If everyone is doing it, then you have anti-trust issues and Washington should be moving on it.

If you are buying a house and don't shop.....you are stupid.

 

[pknopp]

You guys somehow think corporations restrain themselves.

Absolutely no clue how this applies to anything I've said.

They will ALWAYS get the most they can for their products. That is their job.

That is why competition (which democrats seek to destroy) is so important.

That is fundamental.

No company arbitrarily sets high prices. The set the price that clears the marketplace and leaves no one wanting (at a specific price).

But the left does not understand that. They read a bubblegum economics out of a crackerjax box and get all wet in their drawers.

My favorite.....gasoline. Supply gets interruppted and prices go up significantly. They scream gouging. Gasoline is very inelastic in the short term (meaning you have raise prices a lot to shed just a few consumers). If you don't shed those consumers, you have gasoline shortages. It's the way it works.

Deal with it.

Price of gasoline goes up despite NO change in fundamentals.

 

[pknopp]

They must have everyone on board because those inflated fees would drive down demand and people will go with the better deal.

If everyone is doing it, then you have anti-trust issues and Washington should be moving on it.

If you are buying a house and don't shop.....you are stupid.

It was moved on. Did you not read the article?

 

[Nuthin' Fancy]

Haha well why hasn’t harris done anything about it? She’s been VP for four years?!?

So............When did Pence overstep with his daddy?

The dems have had the White House for 12 of the last 16, clearly they are in bed with corp greed

They did A LOT more than your dear leader did, and will EVER do.

Trump asks Big Oil for $1B in campaign cash​

The Hill
https://thehill.com › policy › energy-environment › 46...
May 9, 2024 — Former President Trump asked oil industry executives for $1 billion in campaign cash, according to someone with knowledge of the meeting.

 

[justoffal]

And it's all a terrible system. We have prices all over the place despite absolutely no change in the fundamentals. It was claimed there was an egg shortage yet no one was ever short on eggs.

The price of gas is $3.70 and then it gets down to $2.95 all despite there not being any major fluctuations in the fundamentals.

It's a terrible way to run a economy. Economies would run far smoother on stability.

Well to be fair about it you do need local flexibility. If you deliver 100 dozen eggs to a grocery store on the side of a mountain in the Rockies.....it's going to cost more for the consumer because it was more difficult to get them there.

I agree with you to a certain extent. My opinion is that all big food centers should be located on a railroad track. Cheapest and most efficient delivery method every invented.
That all by itself would bring down the costs enormously in a very short period of time. It used to be like that as late as the 1970's . Then they got this great idea to put millions of semi's on the road. Big mistake. It actually slowed down the deliveries because even though they are more flexible travel wise one rail car can carry up to 9 times the load of a single semi with less than 1% of the fuel usage.

JO

 

[struth]

So............When did Pence overstep with his daddy?

They did A LOT more than your dear leader did, and will EVER do.

Trump asks Big Oil for $1B in campaign cash​

View attachment 1003262
The Hill
https://thehill.com › policy › energy-environment › 46...
May 9, 2024 — Former President Trump asked oil industry executives for $1 billion in campaign cash, according to someone with knowledge of the meeting.

Huh? What does pence or his dad have to do with the dems, harris, and xiden allowing, in your view, corp greed, allow this to happen??

 

[justoffal]

Or they ignore the gouging and only blame Biden

Show me some gouging

 

[Rambunctious]

And it's all a terrible system. We have prices all over the place despite absolutely no change in the fundamentals. It was claimed there was an egg shortage yet no one was ever short on eggs.

The price of gas is $3.70 and then it gets down to $2.95 all despite there not being any major fluctuations in the fundamentals.

It's a terrible way to run a economy. Economies would run far smoother on stability.

There are a lot of hidden costs with eggs from government regulations and inspections and transportation... so it depends on where the eggs are from and which state and county they are sold in... agriculture is highly regulated just like energy... so when the federal government says we are here to help you... run....

 

[pknopp]

Well to be fair about it you do need local flexability. If you deliver 100 dozen eggs to a grocery store on the side of a mountain in the Rockies.....it's going to cost more for the consumer because it was more difficult to get them there. I agree with you to a certain extent. My opinion is that all big food centers should be located on a railroad track. Cheapest and most efficient delivery method every invented.
That all by itself would bring down the costs enormously in a very short period of time. It used to be like that as late as the 1970's . Then they got this great idea to put millions of semi's on the road. Big mistake. It actually slowed down the deliveries because even though they are more flexible travel wise one rail car can carry up to 9 times the load of a single semi with less than 1% of the fuel usage.

JO

I don't have an issue with a producer charging an end user more because costs are more.

I have an issue with hedge funds running the price up.

Exposed: the hedge funds cashing in on the food price spike

Only end users should be allowed to bid on commodities.

 

[marvin martian]

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."

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

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.

Another company that you expect us to believe mysteriously waited until Biden/Harris were in office to raise their prices.

 

[dblack]

Are they really trying to define "gouging" as raising prices faster than the inflation rate??