this post was submitted on 09 Dec 2023
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Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

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[–] [email protected] 82 points 1 year ago (27 children)

Real question is what the fuck am I supposed to do about it?
Burning the place down hardly helps and our elected officials don't give much of a shit, at least around here.
I'm well paid, so it doesn't matter too much for my family just yet, but there are people for whom this means food insecurity.
I'm still pissed though, because I think people deserve to eat.

One thing is... it's expensive to save money.
Buying in bulk isn't as bad, but someone living paycheck to paycheck can't afford that.
I have a vacuum machine, the space to store things, freezers, etc.
I can spend more money upfront to save on food in the long run, but not everyone can do this and it hits them even harder.

[–] [email protected] 72 points 1 year ago (1 children)

You're describing the poverty trap. Its very real. I'm wealthy now as well, but I remember a time when I took the subway 90 mins round trip to my job, and the fare cost almost an hour's pay. So I'd put in 9.5 hours to work an 8 hour shift and my takehome pay was for 7 hours.

[–] [email protected] 9 points 1 year ago* (last edited 1 year ago)

Yea, the grind is becoming impossible though. My old man worked a summer job and could afford university all year on that.

After joining the military for the GI Bill, finishing that commitment, I worked in IT to keep us afloat while my wife went to university.

I left at 5AM for work, worked as much OT as I could, after work instead of sitting in traffic or stuffing on the train like sardines I studied, did all my IT certs, and left work at 7pm. The weekends I worked a second job doing IT. All through university I worked IT on nights and weekends.

The grind you have to do to reach "middle" class is becoming: come from money to afford college, or go into debt for life for uni, or work nonstop always.

How can people take care of kids, family?

[–] [email protected] 19 points 1 year ago

Yeah, but the temptation to burn the place down is really smoldering.

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[–] [email protected] 62 points 1 year ago (2 children)

Inflation roughly averages 8% over the last couple years. The price of milk has gone up 300%. These are not the same.

[–] [email protected] 25 points 1 year ago (2 children)

To be fair, milk specifically should cost a lot more than it does because our dairy agricultural system is disgustingly abusive to cattle.

[–] [email protected] 8 points 1 year ago

They’re subsidized heavily which keeps consumer costs down, but not sure why that should also lead to abusing treatment

[–] [email protected] 4 points 1 year ago* (last edited 1 year ago)

is disgustingly abusive to cattle.

Also to humans. I am pretty sure there is no minimum wage law in dairy in the US.

[–] [email protected] 1 points 1 year ago

I don't have receipts to prove it but I don't think the price of milk has changed all that much. I just got a gallon for like $2.70. Earliest receipt I can find is from Feb of last year and I actually paid a bit more.

[–] [email protected] 55 points 1 year ago (5 children)

We all knew that. Too bad the Federal Reserve and Bank of Canada ignored every sign pointing to greedy companies causing inflation and instead nailed us to the wall.

[–] [email protected] 36 points 1 year ago (1 children)

thats by design, its always on us.

capitalize the gains, socialize the losses.

[–] [email protected] 4 points 1 year ago (1 children)
[–] [email protected] 5 points 1 year ago

Proletarians of the world, unite!

[–] [email protected] 13 points 1 year ago

They exist to support the rich. Low unemployment rates hurt the rich, so they retaliate by raising prices, making people poorer and more desperate and less able to dictate the conditions of their employment. And here we are.

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[–] [email protected] 53 points 1 year ago (1 children)

This is what happens when you fail to enforce anti-trust law.

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[–] [email protected] 33 points 1 year ago

No war but the class war

[–] [email protected] 19 points 1 year ago (1 children)

It's nice they used the word Boosted in the headline.

I was almost mad at the runaway greed of capitalism, but boost just sounds so much nicer than raise.

[–] [email protected] 2 points 1 year ago

Not to mention "gouge".

[–] [email protected] 18 points 1 year ago

They decided they deserved to make up all the profit they lost during the pandemic, and they were legally able to increase our prices to do exactly that. It's as plain and simple as this.

[–] [email protected] 16 points 1 year ago (1 children)

I seem to recall earlier in the year so called “economists “ were telling everyone it wasn’t.

[–] [email protected] 3 points 1 year ago

Or predicting 7 out of the last 4 recessions

[–] [email protected] 15 points 1 year ago

Yesterday we were shopping at Target and in the frozen aisle they had a sign for the Favorite Day ice cream sandwiches, “Everyday low price $4.99”.

The price on the shelf label, $4.69. Whoops!

[–] [email protected] 9 points 1 year ago (1 children)
[–] [email protected] 5 points 1 year ago (2 children)

Correct, this is literally how market economics works. The real question is why they weren't able to do it before, since they had the incentive already (and always do).

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