Price gouging coincidentally at the same time across the entire economy, soon after an enormous increase in the monetary supply.
A—Aurora Borealis? At this time of year! At this time of day! In this part of the country! Localized entirely within your kitchen?!?
“soon” or maybe you need to review your oversimplification of complex issues
Record high prices coinciding with record high profits and plunging cost of good sold, followed by even higher prices. They are testing to see what the pain thresholds are. All that’s gonna happen is that business will start to collapse as consumer spending plummets because people can barely afford to survive. Will the system autocorrect or collapse? Will the government ever enforce consumer protection laws ever again? ¯\_(ツ)_/¯
The loan on my van is paid off, The bank is paying me interest on my savings again, I have a years worth of costco rice stored, and the campsites by the river where i live in my van is empty because everyone too broke to go on holiday. Life is sweet. (No part of this comment is hyperbole)
Occam’s razor says the more simple/plausible explanation, that a huge increase in the monetary supply causing higher prices through supply and demand, is about a thousand times more plausible than tens of thousands of corporations simultaneously deciding to coordinate to fix prices despite that it’s in each of their best interests individually to break with that scheme. With no actual evidence of a concerted attempt across the entire economy to fix prices (not to be confused with a couple corporations having board meetings where someone bragged about raising prices).
Or, in simple terms - it’s not that every single other good in the entire economy has suddenly become worth more as the result of some overarching conspiracy. It’s that they printed a bunch of money and it’s now worth less.
I would recommend anyone who still believes the “greedflation” thing spends an hour reading some articles critical of the theory. Not really looking for a debate about it tbh.
I’m sorry you’re under the impression that the economy is controlled equally by tens of thousands of corporations. Its much more like 2 dozen control nearly all money that presently exists. They wake up everyday and fix prices. They’ve been doing it a lot ever since 2008 and the utter downfall of consumer protections. I also have no fucking clue what you mean when you say that not fixing prices is in their best interests?? Like, you realize that by price fixing they make billions of dollars more than they should be? How tf is making even more money not in the interest of a corporation? They literally profit off of wars. Any possible thing that increases the amount of capital they generate is in their own best interests. Even employing children, or slaves. Capitalism is designed specifically to be exploitative of as many people as possible to generate as much capital as possible.
“Not really looking for a debate about it tbh.”
No, just the last word. There’s a lot more to it that clearly explains why it’s a systematic failure that led to this, and it’s a lot more complex that just over supply of cash. You can’t stop looking at other facts once you’ve researched just enough to find an answer you’re comfortable with.
Just gonna leave these links here.
https://www.theguardian.com/environment/2021/jul/18/america-food-monopoly-crisis-grocery-stores
https://www.webfx.com/blog/internet/the-6-companies-that-own-almost-all-media-infographic/
https://finance.yahoo.com/news/handful-companies-control-almost-everything-152800823.html
If you’re going to bring in Occam’s Razor, it’s probably less tenable to argue the ‘a conspiracy is more complex than the alternative’ argument when there’s obviously a set of shared motives driving labor costs down while at the same time pushing up profit margins. The fact that profit margins are up does a lot of damage to the ‘it can’t be greedflation’ theory
There is inflation I agree, but I think a significant percentage is from price gounging, around 30%. I saw a study detailing this that I could find and link if you want.
If you’re wondering how it can happen simultaneously accross whole countries and much of the world, you can look up the concept of “price leadership.”
See my reply to your other comment https://lemmy.world/comment/2308508