And you didn’t even approach the built in price increases to cover the much higher minimum wages required by some states. Grocers have literally had to go more and more to self checkout just to keep the price of that loaf as low as possible. It feels like a breadline in my little town.
There is a lot I didn't touch on, but yes, minimum wage is one of those hidden cost increases that leads to price increases (or lower profits). There is just so much wrong with the idea of price controls, there is no way to discuss it all in this format.
Not to mention the price the grocer pays to have that product available. I do work in meat and produce at Walmart and I can confirm that many items we basically pay the distributor to have so we can sell to the customers. For instance, my store pays over $10.00 per watermelon. We sell them for $5.
Granted there are items that the store makes a great profit.. but then are usually items that don’t sell heavily. A great example is whole hams out of holiday season.
Payroll is typically your NUMBER ONE expense in ANY business. When costs go up you either raise prices to compensate (which really pisses off customers, at least at first) OR you CUT PAYROLL and end up short-staffed many days because you just can't afford to pay another person to be there, even if it IS really busy.
I've become convinced that the majority of the population doesn't have a clue what inflation actually is. They do not understand the difference between inflation and price increases.
Price controls are a terrible idea! That's a great way to destroy our economy!
This actually has been a source of depression for me over the past four years. It's becoming painfully obvious that even "intelligent" people are ignorant and fail to use critical thinking.
I'm not sure if I care if they are geography impaired, but when it comes to voting and avoiding tyranny it seems like we are doomed! Once those in power gained control over the media, they gained the ability to push propaganda and mislead the vast majority of the population which lives in ignorance!
Sometimes I do wonder if those that come across as ignorant of our situation are actually in denial of what it happening or willfully ignorant because they don't want to admit to being wrong about the choice they made to back the current regime. I am sure those with an "average" IQ are simply unable to make the connections. They are the sheeple who have been taught WHAT to think, rather than HOW.
Living through the Carter years, I made the point when Biden became the Democrat nominee, if he were to win the election we would see Carter 2.0, and if this clown wins the election, expect Carter on steroids with little to no point of return as the entire world burns while Nero fiddles, not just Rome this time around.
Jim was listening to someone who gave some statistics on grocery chain profits. A chain grocery store profits barely over 1%. A lot of expenses come out of those profits that aren’t noted until you can claim them at tax time too. So 1% is really a high guesstimate when tax time rolls around.
Absolutely. And even then, what is that in real dollars? If the dollar is devalued due to inflation, whatever may seem like "record profits" isn't; it is far less than it appears.
It would actually have the opposite effect with the small grocers. Price fixing would put them out of business while the large grocers would be able to absorb it and weather the storm, for at least a little while. Comrade Kamala is showing her true colors. Anyone who supports this ridiculousness clearly doesn’t understand competing markets and the economy, at large.
And you didn’t even approach the built in price increases to cover the much higher minimum wages required by some states. Grocers have literally had to go more and more to self checkout just to keep the price of that loaf as low as possible. It feels like a breadline in my little town.
There is a lot I didn't touch on, but yes, minimum wage is one of those hidden cost increases that leads to price increases (or lower profits). There is just so much wrong with the idea of price controls, there is no way to discuss it all in this format.
Not to mention the price the grocer pays to have that product available. I do work in meat and produce at Walmart and I can confirm that many items we basically pay the distributor to have so we can sell to the customers. For instance, my store pays over $10.00 per watermelon. We sell them for $5.
Granted there are items that the store makes a great profit.. but then are usually items that don’t sell heavily. A great example is whole hams out of holiday season.
Payroll is typically your NUMBER ONE expense in ANY business. When costs go up you either raise prices to compensate (which really pisses off customers, at least at first) OR you CUT PAYROLL and end up short-staffed many days because you just can't afford to pay another person to be there, even if it IS really busy.
Excellent article!
I've become convinced that the majority of the population doesn't have a clue what inflation actually is. They do not understand the difference between inflation and price increases.
Price controls are a terrible idea! That's a great way to destroy our economy!
Our public is ignorant of even the most basic facts. Like........where Washington D.C. is on a map.
Unfortunately far too true!
This actually has been a source of depression for me over the past four years. It's becoming painfully obvious that even "intelligent" people are ignorant and fail to use critical thinking.
I'm not sure if I care if they are geography impaired, but when it comes to voting and avoiding tyranny it seems like we are doomed! Once those in power gained control over the media, they gained the ability to push propaganda and mislead the vast majority of the population which lives in ignorance!
Sometimes I do wonder if those that come across as ignorant of our situation are actually in denial of what it happening or willfully ignorant because they don't want to admit to being wrong about the choice they made to back the current regime. I am sure those with an "average" IQ are simply unable to make the connections. They are the sheeple who have been taught WHAT to think, rather than HOW.
Far too many have been taught WHAT to think, and not HOW to think.
My excuse for many is that they are "too busy" to stop and think and comprehend what is happening rather than just parroting what they have been told.
She. Is. An. Idiot. (face palm)
She's worse than an idiot. She's a lying leftist politician.
Living through the Carter years, I made the point when Biden became the Democrat nominee, if he were to win the election we would see Carter 2.0, and if this clown wins the election, expect Carter on steroids with little to no point of return as the entire world burns while Nero fiddles, not just Rome this time around.
Jim was listening to someone who gave some statistics on grocery chain profits. A chain grocery store profits barely over 1%. A lot of expenses come out of those profits that aren’t noted until you can claim them at tax time too. So 1% is really a high guesstimate when tax time rolls around.
Absolutely. And even then, what is that in real dollars? If the dollar is devalued due to inflation, whatever may seem like "record profits" isn't; it is far less than it appears.
It would actually have the opposite effect with the small grocers. Price fixing would put them out of business while the large grocers would be able to absorb it and weather the storm, for at least a little while. Comrade Kamala is showing her true colors. Anyone who supports this ridiculousness clearly doesn’t understand competing markets and the economy, at large.