Economics Thread
- Thread starter sturg33
- Start date
zitothebrave
Connoisseur of Minors
Ummmmm, nah I won't go into the details ont hat.
Here's a hint to you and that guy, part of inflation is the increased cost of labor.
I do agree, burn the rich. That's the right thing to do.
sturg33
I
Hahahahahaha
Jaw
It's OVER 5,000!
They also had a great episode where they go to an isolated island and one of the locals loves one of their bottle caps. The bottle caps end up becoming the currency and to make everyone happy they dump millions of bottle caps onto the island. Then expected inflation.
Cartoons of the 80/90s were truly the best. Just a golden age for everything society had to offer.
Your understanding of math is embarrassing
acesfull86
Well-known member
It’s the economic equivalent of believing you’ll fly if you just flap your arms fast enough. But don’t worry, I’m sure the same experts who cured the world of the COVID pandemic have just the playbook to surgically intervene in something as complex as the economy and solve the inflation problem.
sturg33
I
And after they are done failing there they can then tell us how they will save the climate
acesfull86
Well-known member
They should stick to inventing new pronouns.
acesfull86
Well-known member
https://reason.com/2022/01/12/elizabeth-warren-blames-high-food-prices-on-grocery-chains-record-1-percent-profit-margins/
On Friday, Sen. Elizabeth Warren (D–Mass.) tweeted a video clip from her appearance on MSNBC's Stephanie Ruhle Reports a couple of days earlier.
"What happens," the caption asked, "when only a handful of giant grocery store chains like Kroger dominate an industry? They can force high food prices onto Americans while raking in record profits." Warren claimed that "a handful of giant chains" had replaced the wide selection of smaller stores that used to dot the American landscape, and she called for the use of the government's antitrust power to "break up these giant corporations."
This was not a new topic for the senator: In December, she sent a letter to Kroger, Albertsons, and Publix, excoriating the grocery giants for "passing costs on to consumers to preserve your pandemic gains" and "taking advantage of inflation to add greater burdens." The letter noted that while grocers' profits had risen during the pandemic, the chains had not reinvested that windfall into "lower prices for consumers" and "protect[ing] and compensat[ing] their workers."
But Warren could hardly have picked a worse industry to use as an example: Grocery stores consistently have among the lowest profit margins of any economic sector. According to data compiled this month by New York University finance professor Aswath Damodaran, the entire retail grocery industry currently averages barely more than 1 percent in net profit. In its most recent quarter, Kroger reported a profit margin of 0.75 percent, during a time in which Warren claims that the chain was "expanding profits" due to its "market dominance."
In actuality, for much of the last year, grocery stores have seen enormous boosts in revenue, but not increased profitability, for the simple reason that everything has been costing more: not just products, but transportation, employee compensation, and all the extra logistical steps needed to adapt to shopping during a pandemic. Couple that with persistent inflation—which Warren also recently blamed on "price gouging"—and it is no wonder that things seem a bit out of balance.
—————
Another great call from Warren lol
On Friday, Sen. Elizabeth Warren (D–Mass.) tweeted a video clip from her appearance on MSNBC's Stephanie Ruhle Reports a couple of days earlier.
"What happens," the caption asked, "when only a handful of giant grocery store chains like Kroger dominate an industry? They can force high food prices onto Americans while raking in record profits." Warren claimed that "a handful of giant chains" had replaced the wide selection of smaller stores that used to dot the American landscape, and she called for the use of the government's antitrust power to "break up these giant corporations."
This was not a new topic for the senator: In December, she sent a letter to Kroger, Albertsons, and Publix, excoriating the grocery giants for "passing costs on to consumers to preserve your pandemic gains" and "taking advantage of inflation to add greater burdens." The letter noted that while grocers' profits had risen during the pandemic, the chains had not reinvested that windfall into "lower prices for consumers" and "protect[ing] and compensat[ing] their workers."
But Warren could hardly have picked a worse industry to use as an example: Grocery stores consistently have among the lowest profit margins of any economic sector. According to data compiled this month by New York University finance professor Aswath Damodaran, the entire retail grocery industry currently averages barely more than 1 percent in net profit. In its most recent quarter, Kroger reported a profit margin of 0.75 percent, during a time in which Warren claims that the chain was "expanding profits" due to its "market dominance."
In actuality, for much of the last year, grocery stores have seen enormous boosts in revenue, but not increased profitability, for the simple reason that everything has been costing more: not just products, but transportation, employee compensation, and all the extra logistical steps needed to adapt to shopping during a pandemic. Couple that with persistent inflation—which Warren also recently blamed on "price gouging"—and it is no wonder that things seem a bit out of balance.
—————
Another great call from Warren lol
sturg33
I
She has potentially passed Bernie as the dumbest on economics in the senate
I can’t lie, that’s pretty funny. Warren isn’t dumb, she is just deeply on message, whether it’s true or not. Big companies are always going to be bad, profits should always go down and wages should always go up. Going after specific companies like she does feels like a winning strategy electorally, so why veer off course?
Edited to add: to be clear, this isn’t a defense of Warren. I find this to be actively worse. There are a lot of ways in which Warren could be an impactful person in reaching across the aisle to disaffected rural voters with her people-first message, but playing politics when you’re knowingly wrong damages trust immediately.
Last edited: