Greed Inflation

I can't tell you how totally DEAD the idea is with economists, generally, that greed has much to do with inflation. It DIED with the Whip Inflation Now, "WIN", [they made buttons to wear] campaign in the late 70s ... and the idea was to get people to quit demanding higher wages. It's now accepted that instead an overlarge money supply has to be eliminated... and to expect people to not want their wages to keep up with inflation is just, well, being an asshole. How about 'you go first', politicians?

So how does this thread get into DT? Somebody found it in the Democrat Playbook under the chapter "make sure Biden doesn't get blamed"

Quote: rxwine

Quote:

Summary: In May 2023, the New York Times reported that economists fear the Federal Reserve "may feel
compelled to keep raising interest rates, or at least lower them" due to the "world's biggest companies"
continuing to increase prices in order to protect "cushioned corporate profits." The average S&P 500
company increased its profit margin from the end of 2022, partially led by the consumer discretionary sector,
while spending a record $922.7 billion on stock buybacks and a record $564.6 billion in dividends.
Some of the largest general consumer S&P 500 companies have admitted to benefiting from increased
prices as their net profits increased year-over-year and they rewarded shareholders with billions invvhandouts. A few of these companies include:
● Kimberly-Clark, whose executives touted being able to "rapidly implement broad pricing actions" and
revealed that "pricing has continued to be a big driver behind our top line growth," saw its FY 2022
net income increase 6.3% year-over-year to nearly $2 billion and rewarded shareholder with $1.7
billion in stock buybacks and dividends. Kimberly-Clark's most recent quarter showed its net income
increasing by $40 million year-over-year to $575 million as it spent a combined $425 million on
shareholder handouts.
● PepsiCo, whose Chairman and CEO recently admitted that the company might "have to take
additional pricing," saw its net income increase by 16.9% to nearly $9 billion while spending over $7.6
billion in stock buybacks and dividends, with stock buybacks increasing 1,313% from 2021.
● General Mills, whose executives admitted to "getting smart about how we look at pricing" while
implementing "list price increases," saw its net income increase 16.5% to $2.7 billion in its FY 2022
and saw continued profit increases in the first nine months of its FY 2023. Meanwhile, the company
spent over $2.12 billion in shareholder handouts and $1.2 billion on the acquisition of Tyson Foods'
pet treats business in its FY 2022 and has nearly matched shareholder handouts in just the first nine
months of FY 2023.
● Tyson––whose executives touted seeing "significant pricing power of our portfolio with a year-overyear increase of 7.6%"––saw its net income increase from $3 billion in FY 2021 to over $3.2 billion in
FY 2022 and rewarded shareholders with $1.35 billion in handouts––$652 million more than the
previous year, including a 948.5% increase in stock buybacks.
● Ulta Beauty––whose executives touted benefiting from an "elevated level of price increases"––saw
its FY 2022 net income jump 26% to $1.2 billion and continued to see profit increases in Q1 FY 2023,
all while announcing a new $2 billion stock buyback program that has resulted in the company
spending over $1.1 billion on buybacks since January 2022

https://thehill.com/business/economy/4057722-greedflation-is-the-new-inflation-as-corporate-profits-balloon-report/

I see the idea that the public can be told that "profit is a dirty word" is being trotted back out again , all for the Democrat Playbook

Quote: odiousgambit

I can't tell you how totally DEAD the idea is with economists, generally, that greed has much to do with inflation. It DIED with the Whip Inflation Now, "WIN", [they made buttons to wear] campaign in the late 70s ... and the idea was to get people to quit demanding higher wages. It's now accepted that instead an overlarge money supply has to be eliminated... and to expect people to not want their wages to keep up with inflation is just, well, being an asshole. How about 'you go first', politicians?

So how does this thread get into DT? Somebody found it in the Democrat Playbook under the chapter "make sure Biden doesn't get blamed"

Moi? J'accuse?

Read carefully.

Quote:

Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs

image of Paul Volcker doing what needed to be done in the face of a 15% rate of inflation

maybe we will see a new image soon, with the cigar aimed at a "greed" balloon ... history rewritten



https://www.ft.com/content/b232c6f6-1a98-11ea-9186-7348c2f183

Quote: rxwine

Quote: odiousgambit

I can't tell you how totally DEAD the idea is with economists, generally, that greed has much to do with inflation. It DIED with the Whip Inflation Now, "WIN", [they made buttons to wear] campaign in the late 70s ... and the idea was to get people to quit demanding higher wages. It's now accepted that instead an overlarge money supply has to be eliminated... and to expect people to not want their wages to keep up with inflation is just, well, being an asshole. How about 'you go first', politicians?

So how does this thread get into DT? Somebody found it in the Democrat Playbook under the chapter "make sure Biden doesn't get blamed"

Moi? J'accuse?

Read carefully.

Quote:

Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs

Dude, my position is clearly that these studies are total crap ... you think we can't see what's going on here?

I didn't dismiss Biden completely. In case you don't get it. Tanko blaming unnecessary spending is just an opinion. Unnecessay to who didn't want him elected.

Trump elected to build wall.
To me unnecessary spending. "Other actions also he did unnecessary." -Yoda.


Doesn't mean he didn't make mistakes either, but every President does.

of course it's realized now the juicy target is 'corporate greed' ... puts me in the position of defending big corporations, which I don't much care to do . A lot not to like with them, of course, but to blame them for inflation is totally misplaced.

Quote: odiousgambit

of course it's realized now the juicy target is 'corporate greed' ... puts me in the position of defending them, which I don't much care to do . A lot not to like with them, of course, but to blame them for inflation is totally misplaced.

It's very odd to me, that you dismiss it. Just as premise, let's say "corporations exist primarily to benefit the economy at large." That's not their primary purpose.

You know what it is. I know what it is. Corporations know what it is. And the above ain't it.

Quote: rxwine

I believe it just wasn't feasible to means test everyone on a massive scale for covid benefits because qualifications weren't straight forward, nor was it possible to use some list of previous beneficiaries. An upscale business could just as easily be as affected as the usual beneficiaries. Besides no infrastructure is even in place to means test at that level. Plus, all the reduction of actual onsite workers makes it likely more impossible.

Yes, they have been going after covid fund frauds. And still are. Check into it. Yup, it's the commie Biden administration doing that.

But...it was possible not to pay them at all.

The people who tout the Biden economy as being good for them are among those profiting from greedflation.