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

[dblack]

Price of gasoline goes up despite NO change in fundamentals.

Do you think that should be illegal?

 

[HikerGuy83]

Price of gasoline goes up despite NO change in fundamentals.

What fundamentals ?

Gasoline is the purest commodity there is.

Price clears the market.

 

[HikerGuy83]

Do you think that should be illegal?

Doesn't matter what he thinks.

His premise is beyond ignorant.

 

[HikerGuy83]

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.

OP is premised on garbage.

 

[struth]

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.

How did they do that?

According to your link:

They made those bumper profits with ‘trend-following’ techniques, which involve using algorithms to spot rising or falling prices and automatically buying or selling financial derivatives in response

So how does spoting rising or falling prices, and trading in response to that, rise the prices?

 

[HikerGuy83]

So what? How does raising prices above the rate of inflation qualify as "gouging'??

The OP, skews13 rarely comes back to the B.S. thread she starts.

Don't hold your breath.

It's classic gaslighting.

 

[struth]

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

They target a low informed base

 

[HikerGuy83]

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

Why ?

Don't like the price....don't buy it.

The price is set to clear the market. What part of that simple economic concept don't you understand ?

 

[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.

Yes, energy prices have a lot to inflation.

 

[HikerGuy83]

They target a low informed base

They have to hold the line for Hindenburg Harris since she's opened her mouth and told everyone how little she understands the economy.

 

[HikerGuy83]

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

If you are talking damage...I would agree. Obama and Biden deficits have really pretty much put this country on a road to bankruptcy.

 

[pknopp]

Do you think that should be illegal?

I think the middle men need removed from the equation.

 

[pknopp]

How did they do that?

According to your link:

They made those bumper profits with ‘trend-following’ techniques, which involve using algorithms to spot rising or falling prices and automatically buying or selling financial derivatives in response

So how does spoting rising or falling prices, and trading in response to that, rise the prices?

When millions/billions go into a market, what happens?

(I can't believe I really need to explain this to adults)

 

[pknopp]

Why ?

Don't like the price....don't buy it.

The price is set to clear the market. What part of that simple economic concept don't you understand ?

Just stay home? Don't drive to work?

 

[HikerGuy83]

I think the middle men need removed from the equation.

Come up with a better system.

I would agree that they don't add value to us, but they add value to the supply chain (or they would not exist).

 

[HikerGuy83]

Just stay home? Don't drive to work?

That is your choice. Ride a bike. Get a better mileage car. Car pool.

 

[struth]

When millions/billions go into a market, what happens?

(I can't believe I really need to explain this to adults)

so people making money causes inflation? hahah no...

when money is poured in artificially, ie through Govt, not when people actually make money.

People being successful doesn't cause inflation.

 

[pknopp]

Come up with a better system.

We can go back to the system before Hedge funds were allowed in. Prices were relatively stable for decades.

I would agree that they don't add value to us, but they add value to the supply chain (or they would not exist).

They add value to people who do absolutely nothing in producing or getting a product to a market. As I noted, it worked fine for years.

 

[pknopp]

so people making money causes inflation? hahah no...

when money is poured in artificially, ie through Govt, not when people actually make money.

People being successful doesn't cause inflation.

Where did the billions come from? The money being poured into the markets.

 

[HikerGuy83]

We can go back to the system before Hedge funds were allowed in. Prices were relatively stable for decades.




They add value to people who do absolutely nothing in producing or getting a product to a market. As I noted, it worked fine for years.

If it worked fine, then why did it get "fixed".

What you guys think happens and what actually happens is often separated by a gulf the size of the Grand Canyon.