Dallas Ludlum, Vigilant News, 11/23
In 2021 and 2022, the U.S. economy grappled with the highest inflation rates in decades. Amidst this tumult, a term gained traction: “Greedflation.” This article delves into specific instances of greedflation, highlighting how certain industries exploited inflationary conditions to inflate prices and profits, and proposes solutions aligned with conservative economic principles.
The Phenomenon of Greedflation:
The term “greedflation” describes scenarios where companies use the cover of inflation to hike prices disproportionately, boosting profits at the expense of consumers. This practice has been especially prevalent during the post-pandemic recovery phase, when inflation provided a convenient pretext for such actions.
Greedflation, a term that emerged prominently during the high inflationary period of 2021 and 2022, encapsulates how some companies exploited the situation to significantly raise prices, often well beyond their increased costs. This practice wasn’t merely a reflection of market dynamics but a strategic maneuver to maximize profits under the guise of inflation.
The impact of greedflation extends beyond just numbers on a balance sheet. It directly affects families, particularly those in lower and middle-income brackets. When prices for basic necessities like food and household goods are inflated artificially, families face heightened financial strain. They must stretch their budgets further, often having to make hard choices between essential needs. This financial pressure can lead to reduced quality of life, increased stress, and can exacerbate socio-economic disparities.
Moreover, greedflation contributes to a broader economic imbalance. While corporations report record profits and shareholders benefit, the average consumer struggles with rising living costs. This disparity fuels economic inequality and can undermine consumer trust in the market system.
In essence, greedflation is not just an economic term; it represents a significant societal challenge, where the pursuit of profit by some can lead to hardship for many. Addressing this issue is not just about ensuring fair pricing; it’s about protecting the economic wellbeing of families and maintaining the integrity of the market.
Case Study 1: The Food Industry:
In the food sector, greedflation manifested starkly. During 2021 and 2022, families faced steep price hikes in staple foods, a burden that hit those with limited budgets the hardest. For instance, the more than 60% increase in potato prices was not just a statistic; it represented a significant strain on households for whom potatoes are a budget-friendly staple.
The case of Tyson Foods, the largest chicken producer in the U.S., is particularly illustrative. Despite a 27% decrease in corn feed prices, a major cost component in poultry production, the company not only raised chicken prices but also reported doubling profits in the last quarter of 2021 and record sales and earnings in 2022. Such disproportionate profit margins during a period of overall economic hardship indicate a strategic use of inflationary conditions to boost profits.
Lamb Weston Holdings, the largest frozen potato provider, also saw its net income jump by 111% year-over-year. These increases came at a time when many families were already struggling with overall increased living costs due to the pandemic’s economic impact.
These examples highlight a concerning trend: during times of economic stress, when families are most vulnerable, certain segments of the food industry capitalized on the situation, exacerbating the financial burden on consumers. This behavior raises questions about corporate responsibility and the need for regulatory oversight to ensure that essential goods like food remain affordable for all segments of society.
Case Study 2: The Retail Sector:
In the retail sector, greedflation significantly impacted consumer prices from December 2021 to December 2022. Overall consumer prices rose by 6.5%, with specific categories showing even higher increases. For instance, food prices increased by 10.4%, including an 11.8% rise in prices for food at home and an 8.3% increase in prices for food away from home.
These statistics reveal a deeper issue affecting everyday consumers. Such substantial price hikes in basic necessities meant that families had to allocate more of their budget to groceries and daily needs, leaving less for savings or discretionary spending. This situation was particularly challenging for lower-income families, for whom these staples constitute a larger portion of their monthly expenditures.
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This article is pure bidum economy whitewash. It’s embarrassing propaganda from a source that appears to be patriotic.
Inflation is caused by the growth of the money supply without a corresponding growth in GDP. That’s it. This is Econ 101 stuff.
So called greedflation is nothing but the industrial response to the gross mismanagement of our money supply by incompetent leadership.
For those like you who doubt ‘greedflation’ and the complicity of corporatists, I recommend Seamus Bruners intensely researched book, “Controligarchs: Exposing the Billionaire Class, Their Secret Deals, and the Globalist Plot to Dominate Your Life.”
From Amazon’s review of Controligarchs:
“Imagine a world in which you own nothing and rent everything. Most of the protein in your diet comes from bugs. You are not allowed to have more than one child, and your financial and medical data are instantly transferred to a centralized government database via a subdermal microchip.”
“Controligarchs warns that this will be our existence if the supranational elites of the World Economic Forum get their way.”
“In this book, investigative journalist Seamus Bruner—who led the teams whose findings sparked multiple FBI investigations and congressional probes into the Clintons and the Bidens—exposes the billionaires who control the levers of power that dominate every aspect of your life.”
“Inside this pathbreaking new book, you will discover:
Bill Gates’s $11.7 billion food takeover scheme… and the real reason he’s snapping up America’s farmland
Mark Zuckerberg’s $36 billion plot to reengineer society and force you into tech addiction
Jeff Bezos’s taxpayer-funded electric vehicle ambitions, climate hypocrisy, and $1.2 billion plan to spy on you by overseeing your “smart” home
The Soros family’s project to use its $25 billion empire to influence elections and society for the next 50 years
How World Economic Forum (WEF) founder Klaus Schwab built an exclusive club in Davos where the top 25 WEF members—now worth more than $10 trillion—have more economic power than most world governments, and how these global oligarchs are seizing control over our future
Based on a mountain of financial filings, insider documents, and corporate records, Controligarchs rips back the curtain on never-before-published revelations about the life-altering schemes that globalist elites have in store for you. This book is a must-read for anyone who values American independence and personal freedom”
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Controligarchs like Gates cannot force us to consume bugs and fungi rather than our traditional diet unless he possesses power and influence over the food industry through its CEOs. It is here that greedflation makes the most sense.
As more and more Americans and people around the world struggle to feed their families, billionaires and trillionaires pulling levers of power and influence grow fatter and richer. And keep in mind that part of the overhauling and reconstruction of the world according to their schemes requires the reduction of the world’s population by billions.
Famine is one way of reducing the population. Wars and terrorism is another. Then there are sexually transmitted diseases issuing in sterility and early death and the mRNA injection responsible for countless deaths of babies, children, athletes, and other people around the world.
As much as some people would like to believe that the business world–Wall Street and Corporatists—are above reproach, the hard reality is that they are not. Many of the most powerful and wealthy are no less corrupt than Biden, Democrats, and Controligarchs.
You pretty well said it all, Linda.