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Kroger executive admits company gouged prices above inflation
(www.newsweek.com)
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this post was submitted on 29 Aug 2024
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Yeah, he was literally bragging about it on the quarterly earnings calls as it was happening. They’ve only paused the price gouging now that it’s a hot topic, don’t think for a minute prices will go back down or that this won’t resume in a year or so when there’s some other distraction available.
We need regulations to stop this predatory behavior, and we desperately need to break up monopolies like Kroger, if this problem is to be mitigated.
Nono, you misunderstand! Prices going down is a very bad sign as it means something is very wrong!
-Every economist ever without explanation or clarification whatsoever
They don't clarify, because if they did it would be clear who it's "wrong" for.
Spoiler alert: It ain't you and me.
The problem is we talk about the economy in terms like "revenue" "profit" or "prices".
We need to change the language of the economy to appeal to its true creed: line go up. It's Economics 101. Line go up, forever.
Hence, I propose we talk about the cost of things on units of "not getting fucked"
Use phrases like, "the not getting fucked on tomato sauce has been dropping lately"
Why break them up when you can just let them get bigger. I'd bet my job the fucking merger is still happening.
Of course it’s still happening, this is just a side puppet show to distract from that fact. Now they’ve realized most of the population would vote in an uneducated felon again, so they see they faked having a heart for nothing. Which was cutting into their profits all along.
Until there’s serious consequences and bankruptcy looming, they’ll continue shitting on us like we’re Japanese businessmen with a fetish.
Lina Kahn has been going hard after monopolies lately. I will take that bet so long as she is FTC head.
What merger?
And Kroger is a monopoly? I see Walmarts everywhere. Target to a lesser extent. Definitely an oligopoly.
Kroger & albertsons\safeway. I'd still have Costco Walmart and winco but a lot of locations don't have as much competition.
Some places only have a dollar store. Shudder.