They keep raising prices, stating that it’s due to inflation, but then they keep having record profits.
Meanwhile, the average American can barely afford rent or food nowadays.
What are we to do? Vote? I have been but that doesn’t seem to do much since I’m just voting for a representative that makes the actual decisions.
Cutting back on spending is the only thing I know that works. When consumers don’t buy things, the prices come down.
For groceries this means splurging less, avoiding things you don’t need (drink tea instead of soda, don’t buy snacks and chips). Fruits and vegetables are definitely still cheaper than prepared foods in many cases. Even when frozen. And they can be used to make a meal stretch, along with beans and rice.
Buy cheap bar soap and store brands of basic things.
Coupons aren’t really a thing anymore, but you can use the app for stores like the grocery, Target, Walmart, to “clip” deals and save.
A lot of the high prices right now are just greed. They aren’t tied to actual supply chain or labor issues. A grocery store in France just told PepsiCo to take a hike because their prices were so outrageous.
If you want the government to get involved, I encourage you to write your representatives about enforcing existing anti-trust laws. The mega mergers and buyouts are driving prices up because of less competition. Kroger wants to buy Albertsons for example. That just means more layoffs and higher grocery prices.
Hope this helps.
The biggest thing is to be aware of how much things should cost, and just refuse to buy them if they’re gouging.
Can I afford $13 for a case of Coca-Cola? Sure, I absolutely can. I can afford $24 a case. I’m just not willing to pay that. That same case was $7 in 2019. You can’t tell me their costs have doubled.
And even if I believed their costs doubled (and I don’t), that doesn’t mean their prices have to double. They’re not entitled to growing percentage profit on a larger number. Just because they made 20% on that $7 case doesn’t mean they deserve 20% on that $13 case. 20% of $7 is $1.40. They could absolutely take $2 profit on $10 and be happy with it. But they won’t. Because people don’t pay attention and they can get away with it.
There are enough barriers to entry and cooperation among would-be competitors that they can charge basically whatever the duck they choose.
I too choose this man’s duck.
cutting back spending is hard when it’s one of the main ways to feel joy; you already have to spend on groceries and bills anyway, and it feels that much more stark and grim denying yourself the fun foods and nice convenience items to save like $10, then your rent goes up $50 because they said so, and so what’s the point anyhow…
Think of it as a protest then. When they’re charging stupid prices for beef, say “hell no” and eat lentils for a time. It’s all in the attitude. It’s honestly good for us to cut back a bit. If spending money is one’s main way to feel joy then something is wrong to begin with. Time to read a good library book or take more walks for joy. And most of us could stand to eat a little less beef anyway.
This is good advice. And I think it helps to think of it as a protest. None of us wants to deprive ourselves, but if they’re charging stupid prices for beef then give them the middle finger and eat lentils for a time. It can be an empowering experience instead of a shameful one if it’s intentional and you can get your whole family bought into the concept.
dude, there is no evidence for supply side economics to have ever worked, the price has nothing to do with supply and demand
This is completely wrong lol
They’re not really talking about Supply Side Economics. SSE is a macroeconomic theory about cutting taxes in the hopes rich people having more money will invest in the economy and then the money will “trickle down”. You’re right that it doesn’t work.
They’re gesturing at supply and demand having an effect on prices which every economic school I’m aware of agrees about, Marx to Chicago. Supply and demand certainly starts becoming less of a factor in monopolistic and inelastic markets when you don’t have a choice not to buy. In the case of food you can choose to spend less by buying less meat and processed goods. That will have an effect. If not done en mass the effect probably won’t matter. It’s an effective survival strategy though.
I agree they’re not advocating the most effective praxis. I think more effective alternatives like buying clubs and food co-ops would start generating alternative economies. Political advocacy, local and federal could also have an effect but I expect every victory to be rolled back as soon as convenient.
SSE is larger than just trickle down, and ironically not every school of economics accepts the supply/demand model, and some who do, also criticize it as being dysfunctional