Forget about shrinkflation, slumpflation, stagflation, good old regular inflation, or any other “flation.”
What’s occurring around the world and most notably in North America, is that corporate greed has gone crazy.
Emboldened by the likes of Donald Trump, supported by the Republicans, and encouraged by the main stock market players, and the wealthy “corporate rodents” believe that to milk the consumer for every cent they have is just fine.
Supply chain problems, COVID, global currency markets, worker safety costs, the price of oil, etc have only so much to do with it.
A 52-foot long van can carry 200,000 chocolate bars at one time, so why would fuel charges justify a 40% increase in their price? Or for produce. Or any other product.
Retail staffing remuneration, in the USA especially, is still horrendously low and only represent a small fraction of the operational costs so that’s no reason either.
Corporate image be damned. Brand image be damned.
Today, profits overrule EVERYTHING.
This moral turpitude wasn’t invented by Trump, but he made the perception of it into an acceptable concept, where rules and regulations were to be flaunted, taxes unpaid and your fellow man was of no consequence unless he was a member of the same country club as you.
Based on the great lie and the seven dirtiest words in modern times being, “We have a responsibility to our shareholders”, corporations are clobbering the buying public at all levels.
For one example of the concentration of functional market control over key industries, just take meat production which is in the hands of only three or four mega-corporations, who collude to keep prices and profits at record highs with wages as low as possible.
And their Washington lobbyists, while heavily greasing politicians, mainly the GOP, make sure it stays that way.
Forget anti-trust laws and the like.
Supermarket chains are the core retail conduit when it comes to this immoral price gouging.
Their unconscionable use of unreasonable and unwarranted price increases have and continue to rake in record profits and this during a deadly pandemic.
And in Canada, corporations aren’t regulated in any meaningful way as we all know.
The ONLY things that matter to these immoral profiteering corporations are top management bonuses - CEOs now make an astronomical multiple of their average worker - and record stock returns for their equally rich investors.
Their retail customers can go screw themselves, pure and simple.
Families, seniors, lower-wage earners, and many other groups in society are all now caught in this maelstrom of soulless wealth accumulation.
Finally, don’t expect price rollbacks. Once vampires taste blood they don’t stop sucking.
They count on their victims getting used to it.
One only need to look at unbridled government taxes on gas.
Media content publishers can purchase non-exclusive rights to this article HERE
