Price gouging as her first policy announcement? Really?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s actually forward thinking to look at price gouging and price fixing now. Sticky prices has always been a thing in economics. For example, orange crops fail in Florida due to a weather event. Prices spike because of a shortage in supply. People blame the storm not the grocery store or farmer. Next year, crops are fine but prices do not reduce? Why? People got used to paying the higher prices. Farmers try to produce more oranges because they are profitable. Too many oranges so farmers drop prices to get grocery chains/distributors to buy their oranges. Distributors grab the lower prices but do not drop their prices. They pocket the profits. It is easier and more reliable for companies to make a higher profit margin on lower volume than lower profit on higher volume. As long as the competition doesn’t cut their prices to the consumer this model keeps working for them.

Supply/demand dynamics are broken because companies are not competing they are colluding.

This is what has been happening post COVID. It’s why many companies have been experiencing record profits. It’s unfettered capitalism at work.

well then consumers adjust and substitute - also capitalism. I stopped using door dash and eating out because it’s too expensive. I cook at home but opt for Amazon Fresh and TJ because they are cheaper. eventually the market will adjust to this too.

Collusion at the processing and distribution layer is not capitalism, it’s price fixing.

“Price fixing” is the reason that grocery stores operate on an average of a 1.6% profit margin and the average US corporation/business operates on an average 7.7% profit margin?

Wow let’s pull the emergency brake, this is unacceptable.

How pray tell does fed gov have the credibility to regulate private sector companies?

As of August 16, 2024, the US federal government's national debt is $35.16 trillion, which is the total amount of money it has borrowed to cover expenses over time. This debt is made up of debt owed to the public and debt owed to the government itself. As of the end of 2023, 79% of the debt was owed to investors, and 21% was owed to other parts of the government. The Federal Reserve is the largest holder of federal debt.

The federal government borrows money from the public to meet its borrowing needs by issuing Treasury securities, such as bills, notes, and bonds. The debt increases when the government borrows more funds to pay for a deficit. Other factors that can affect the debt include changes in the Treasury's operating cash account and federal student loans.

^^ these are the people dcum and democrats want to investigate and punish food producers and grocery stores who operate on 1.6% and 7.7% profit margins respectively.

[Anonymous]

JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

[Anonymous]

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

Wouldn’t that be a monopoly issue?

[Anonymous]

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

Citation?

[Anonymous]

Anonymous wrote:It’s actually forward thinking to look at price gouging and price fixing now. Sticky prices has always been a thing in economics. For example, orange crops fail in Florida due to a weather event. Prices spike because of a shortage in supply. People blame the storm not the grocery store or farmer. Next year, crops are fine but prices do not reduce? Why? People got used to paying the higher prices. Farmers try to produce more oranges because they are profitable. Too many oranges so farmers drop prices to get grocery chains/distributors to buy their oranges. Distributors grab the lower prices but do not drop their prices. They pocket the profits. It is easier and more reliable for companies to make a higher profit margin on lower volume than lower profit on higher volume. As long as the competition doesn’t cut their prices to the consumer this model keeps working for them.

Supply/demand dynamics are broken because companies are not competing they are colluding.

Company collusion on prices already is a crime. There is no need for further legislation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In 2023, profit margins in the grocery industry hit 1.6% — the lowest level since it was 1% in 2019 — as total expenses increased, FMI found.

https://www.grocerydive.com/news/grocery-industry-profit-margins-fall-to-pre-pandemic-levels-fmi/720517/#:~:text=Societal%20challenges%20like%20lack%20of,total%20expenses%20increased%2C%20FMI%20found.


Let’s get that profit margin down to zero! We don’t need greedy store owners making any profit. Groceries are a necessity.

And yet in gross dollars, they are at all time highs.

Gross revenues mean nothing, particularly as inflation has caused them to go up along with everything else. You have to deduct expenses, also greatly up, especially for inflation driven wage costs.

[Anonymous]

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

JBS USA Holdings, Inc. is a meat processing company and a wholly owned subsidiary of the Brazilian multinational JBS S.A. The subsidiary was created when JBS entered the U.S. market in 2007 with its purchase of Swift & Company.

JBS USA is based in Greeley, Colorado. Its competitors include Hormel Foods, Cargill, Smithfield Foods, and Tyson Foods.


SÃO PAULO — JBS SA reported net income loss for fiscal year 2023 ended Dec. 31, 2023, totaling $132 million. For the fiscal fourth quarter of 2023, JBS had net income of $7 million, which was 96.3% below the year-over-year mark.

“Despite the persistent negative effects of the cattle cycle in the United States, the operational management measures adopted last year and the improvement in the medium-term outlook enable us to enter 2024 on the path of margin recovery,” said Gilberto Tomazoni, chief executive officer of JBS SA, in the earnings report. “Our focus on operational excellence was key to correcting the course of two of our businesses that underperformed in 2023: USA Beef and Seara. We identified issues and took action to adopt management measures based on our culture, with a focus on people and discipline in execution.”


https://api.mziq.com/mzfilemanager/v2/d/043a77e1-0127-4502-bc5b-21427b991b22/ffed7156-c0f3-aa92-efa3-010754c4ae05?origin=1

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s actually forward thinking to look at price gouging and price fixing now. Sticky prices has always been a thing in economics. For example, orange crops fail in Florida due to a weather event. Prices spike because of a shortage in supply. People blame the storm not the grocery store or farmer. Next year, crops are fine but prices do not reduce? Why? People got used to paying the higher prices. Farmers try to produce more oranges because they are profitable. Too many oranges so farmers drop prices to get grocery chains/distributors to buy their oranges. Distributors grab the lower prices but do not drop their prices. They pocket the profits. It is easier and more reliable for companies to make a higher profit margin on lower volume than lower profit on higher volume. As long as the competition doesn’t cut their prices to the consumer this model keeps working for them.

Supply/demand dynamics are broken because companies are not competing they are colluding.

Company collusion on prices already is a crime. There is no need for further legislation.

+1

Price gouging is also illegal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

Citation?

DP. Probably this.

https://www.politifact.com/factchecks/2022/jun/30/abigail-spanberger/big-four-meat-packers-are-seeing-record-profits-sp/

[Anonymous]

Anonymous wrote:

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

JBS USA Holdings, Inc. is a meat processing company and a wholly owned subsidiary of the Brazilian multinational JBS S.A. The subsidiary was created when JBS entered the U.S. market in 2007 with its purchase of Swift & Company.

JBS USA is based in Greeley, Colorado. Its competitors include Hormel Foods, Cargill, Smithfield Foods, and Tyson Foods.


SÃO PAULO — JBS SA reported net income loss for fiscal year 2023 ended Dec. 31, 2023, totaling $132 million. For the fiscal fourth quarter of 2023, JBS had net income of $7 million, which was 96.3% below the year-over-year mark.

“Despite the persistent negative effects of the cattle cycle in the United States, the operational management measures adopted last year and the improvement in the medium-term outlook enable us to enter 2024 on the path of margin recovery,” said Gilberto Tomazoni, chief executive officer of JBS SA, in the earnings report. “Our focus on operational excellence was key to correcting the course of two of our businesses that underperformed in 2023: USA Beef and Seara. We identified issues and took action to adopt management measures based on our culture, with a focus on people and discipline in execution.”


https://api.mziq.com/mzfilemanager/v2/d/043a77e1-0127-4502-bc5b-21427b991b22/ffed7156-c0f3-aa92-efa3-010754c4ae05?origin=1

https://mycleanbeef.com/m.index.php

Started by farmers against what you posted. They raised something like $300 million and built their own plant.

https://100percentfedup.com/u-s-ranchers-banding-together-to-save-our-food-supply-300-million-raised/

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

Citation?

DP. Probably this.

https://www.politifact.com/factchecks/2022/jun/30/abigail-spanberger/big-four-meat-packers-are-seeing-record-profits-sp/

This is the chart that the 2022 article linked to:

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:JBS , meat processing, enjoyed a 70% increase in profits. Ranchers lost money.

Throttling supply to increase decrease demand and rake in insane profit increases on staple food products isn’t capitalism. Ranchers don’t have a wide choice of processing companies.

JBS USA Holdings, Inc. is a meat processing company and a wholly owned subsidiary of the Brazilian multinational JBS S.A. The subsidiary was created when JBS entered the U.S. market in 2007 with its purchase of Swift & Company.

JBS USA is based in Greeley, Colorado. Its competitors include Hormel Foods, Cargill, Smithfield Foods, and Tyson Foods.


SÃO PAULO — JBS SA reported net income loss for fiscal year 2023 ended Dec. 31, 2023, totaling $132 million. For the fiscal fourth quarter of 2023, JBS had net income of $7 million, which was 96.3% below the year-over-year mark.

“Despite the persistent negative effects of the cattle cycle in the United States, the operational management measures adopted last year and the improvement in the medium-term outlook enable us to enter 2024 on the path of margin recovery,” said Gilberto Tomazoni, chief executive officer of JBS SA, in the earnings report. “Our focus on operational excellence was key to correcting the course of two of our businesses that underperformed in 2023: USA Beef and Seara. We identified issues and took action to adopt management measures based on our culture, with a focus on people and discipline in execution.”


https://api.mziq.com/mzfilemanager/v2/d/043a77e1-0127-4502-bc5b-21427b991b22/ffed7156-c0f3-aa92-efa3-010754c4ae05?origin=1

https://mycleanbeef.com/m.index.php

Started by farmers against what you posted. They raised something like $300 million and built their own plant.

https://100percentfedup.com/u-s-ranchers-banding-together-to-save-our-food-supply-300-million-raised/

Your links lead to a blog called “100% Fed Up!!!”

I don’t know what the opinion blog and your information that farmers raised “something like $300 million” and built their own plant (with no citation) is relevant.

Is a single meat processing plant going to provide US grocery stores in every state with the beef, pork, chicken, turkey, etc, that grocery stores and consumers need? Just one plant? How will one plant accomplish that?

[Anonymous]

Anonymous wrote:Sit her down and ask her questions.

Where was she 3 years ago on this and she is basically in charge right now? Any problems we have like inflation, crime, illegal immigration are on her.

Let’s see her positions on defund the police, deporting criminal illegals…..

+1

No interviews for that very reason.

[Anonymous]

Got some bad news for all of you MAGAs saying "KaMaLA HarRis iS a LitERaL CoMMuNist BecAusE ShE waNTs tO StOP PriCE GouGiNG!!!1!!!"

How about you do us all a favor and stop making such huge fools of yourselves.

[Anonymous]

Anonymous wrote:Sit her down and ask her questions.

Where was she 3 years ago on this and she is basically in charge right now? Any problems we have like inflation, crime, illegal immigration are on her.

Let’s see her positions on defund the police, deporting criminal illegals…..

What exactly do you mean, suggesting she was "basically in charge" of all of those things for the last 3 years? Do you think the VP is in charge of everything during the President's term? Do you think Pence was actually the one in charge of everything Trump did from 2016-2020?

You have a really weird take on things, pretty far divorced from reality.