Quote:
Originally Posted by TXCSSU
So these companies AREN'T making record profits? Where are you getting your information?
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First off... What companies specifically are "these companies"? The article makes no mention of ANY companies. They use "mystery companies". Whether real or imagined, we do not know.
Now, let's dive into the article...
Did you even verify any of the facts that were in the "article" you linked?
Right off the bat in the bullet points:
The ability to charge more is making some employers more comfortable with paying higher wages.
And further in the article:
"
The upshot for workers of some of these price increases is that higher sales makes employers more willing to raise wages and compensation."
Kinda the same thing I said.
Except it's the other way around. Business currently needs to outbid the federal government for workers (unemployment vs wages). Those wage increases are, in part, driving costs up.
Moving on:
https://digital.com/
This site is an "click farm". Doubt you could get any type of scientific poll outta these guys.
Methodology
All data found within this report was derived from a survey commissioned by Digital.com and conducted online by survey platform Pollfish. In total, 1,000 U.S. retail business owners and executives were surveyed. Appropriate respondents were found viaa screening question. To qualify for the survey, each respondent had to own a retail business or be an employed executive at a retail business. This survey was conducted on November 18, 2021. All respondents were asked to answer all questions truthfully and to the best of their abilities. For full survey results, please email julia@digital.com.
You answer ONE question on the internet and BOOM you're in. No actual verification. For all I know high school kids answered this poll.
Then we have:
"
Gas supply companies are paying less and making a lot more, and they do not seem to be passing that on to the consumers at the pump," Biden said last week. "Instead, companies are pocketing the difference as profit. That's unacceptable."
The key words are underlined. Magicians do things that
do not seem possible.
Oil in November 2021 (when the article was written) was $70-$80 a barrel.
Gasoline was around $3-$4 (depending on the state).
That is in line with historical prices.
Further, the Biden Administration investigated oil companies and came back with nothing. Why? It was all smoke and mirrors to throw the gullible some red meat.
If there WERE any actual price gouging, the Justice Department would have paraded heads thru the streets. N-O-T-H-I-N-G came out of the investigations. Nothing.
It was all a head fake to throw people of the real reason.
The Government is printing money it doesn't have out of thin air and causing inflation by having too many dollars chasing too few goods and services.
(And to be fair, the Trump Admin. was dishing out "free money" to people as well)
Disclaimer:
This is not a political rant, nor should it be taken as such. The ONLY reason political parties were mentioned was due to the article and an attempt to be balanced.
This post is about economics. Please keep it that way.