Meanwhile in Sweden
Meanwhile in Sweden
That's $3 for 15 eggs. Sadly not free-range, only cage-free.
Not sure if this is the best community for this post, does anyone have a better suggestion?
You're viewing part of a thread.
Republicans controlling all three branches of government and looking the other way while businesses charge whatever the hell they feel like charging and collude to keep the prices artificially high.
Chickens go from egg to laying in about 6 months. So maybe I'll believe you if prices are still high ($4+/dz) at EOY. I'm guessing we'll be <$3/dz by then (at my local Costco, that is).
This literally already happened. And under Biden.
https://www.commondreams.org/news/kroger-egg-prices
But sure, it can't possibly happen again under Trump.
The U.S. grocery sector—dominated by Kroger, Walmart, and a handful of other major companies—profited hugely during the Covid-19 pandemic as corporate giants exploited supply chain disruptions to aggressively jack up prices.
The underlying problem here was limited supply, and when supply drops, prices go up. When supply returned to normal, prices returned to normal (plus inflation). People were mad because Kroger (and others, but especially Kroger) acted exactly as you'd expect by making as much as they could from their limited supply. Look at Kroger's revenue, which grew pretty naturally, which means they offset reduced volume with higher margins.
So I absolutely expect the same thing to happen again, because it's a very similar situation. Prices will return to normal once supply returns to normal. The first companies to create supply get the most profit, and then prices stabilize.
This isn't some AG conspiracy or anything, just individual companies making greedy decisions, an which eventually will even out to the previous status quo. Kroger does not (yet) have a monopoly, so their prices are capped at whatever is the tipping point at which people will go to a competitor or go without. It's not nice, but it's also not surprising.
The guy admitted to price fixing and you're just pretending he didn't. Baffling.
I don't see anything about price fixing in that article, I just see "price gouging." My increment understanding is that companies can set their prices however they choose, unless they're a monopoly (obviously varies by jurisdiction).
Price fixing (colluding with other companies on setting prices) is illegal, price gouging (increasing prices unnecessarily) isn't.
I'm not making a value statement here, in fact I'm trying very hard to keep personal opinions out of it. I'm merely saying that this looks just like every other time supply has been disrupted, and like every other time, prices will come back down.
You know how people can not say things but those things are still true?
Price gouging is similar to profiteering but can be distinguished by being short-term and localized and by being restricted to essentials such as food, clothing, shelter, medicine, and equipment needed to preserve life and property.
https://en.wikipedia.org/wiki/Price_gouging
This was not localized or short-term.
But apparently you are very big on "hail corporate" capitalism, so I clearly will not be able to convince you that corporations may possibly not have your best interests in mind.
corporations may possibly not have your best interests in mind.
I 100% agree with that, but that doesn't make then evil in much the same way that a bear isn't evil even though it wants to maul you.
Corporations are greedy and exist to maximize profit. They can sometimes appear to align with your interests, but that's not because some corporations are "good" and others are "evil," but because their selfish incentives happen to align with your selfish incentives.
In other words, if a corporation is abusing the system, we need to fix the system, not the corporation. Price gouging shouldn't be illegal, it should be unprofitable. Making it illegal means trusting politicians and judges to be incorruptible, whereas making it unprofitable fixes itself. That's hard, but it'll be a lot more effective.