Tag Archives: profit taking

Inflation is profit taking…and Ceo stealing…

Well…I know inflation is on the mind of most people here in the US that aren’t independently wealthy, and I also know that fox news and everyone on the right is lying about the causes….like housing prices that have been affected by the industrialization of home purchasing by REITs and other big purchasers who have been snapping up starter homes to turn into rental units and who can afford to pay more than individuals since they can just raise the rents to ensure their profit margins….and this scramble by these corporations have shut most low income buyers out of the market and caused the crazy price increases that have even affected the house that I bought a year ago…I mean a house that I bought for 90K a year ago is now worth 140K? That is just nuts. When we look at food prices, lets use the example of Kroger whose revenues and profits are up over 40% in the past year and how do they use those increased profits? By increasing CEO pay, stock buybacks, and increased dividends, not by holding the line on prices…again taking advantage of the pandemic by transferring wealth to the rich while most of their employees can’t afford their rent anymore. Kroger is not alone…throughout the economy, corporations are blaming higher prices on supply chain issues or a whole host of other problems but the real reason is pure greed…all of them are taking advantage of small hiccups in the economy to steal as much as they can while the media falls behind in their reporting or just believes the lies and reports them…it’s easier than doing their jobs and reporting the truth….and if there is not profit taking going on, why are oil companies more profitable than they have been in years? They love the fact that OPEC is shouting about raising oil prices by restricting supply when that has no effect on American oil production or refining for retail customers of gasoline….but gas is at it’s highest price in 8 years as are the profits of the oil companies…just plain old price gouging that they are allowed to get away with…so when the right whines about inflation, you can be sure it is only a lie to attack Biden and his administration since their big donors are doing just fine and love them some of that sweet, sweet inflation that allows them to steal more than normal…geez…