Comment on Isn't Greedflatiin just inflation with different people profitting?
Vendetta9076@sh.itjust.works 1 year ago
Its as real as the phrase “get woke go broke” is. Its a political chant. If we’re being pedantic, greedflation is actually just price gouging. Sure it manifests as “inflation” to the average consumer, but inflation is a devaluation of currency whereas price gouging is the raising of the price of a product or service above market price.
Price gouging is rising the price of a product above market price.
But what is the market price? If people are willing to pay for it then its the market price. So its adjusting the price to the current demand. There are times where this is unethical for example profiting from wars and disasters, but generally this is how things go.
While you’re correct within the definitions of the words you’re using, it completely misses the point of what Ive said.
I am not sure. If I understood correctly then you separate between price gauging and currency devaluation. But even in the most perfect currency devaluation, where every one in the supply chain would increase their price by exactly the rate of inflation. What would happen to everyones profits? They would also go up.
Im separating them because they are different things. That doesn’t mean they don’t work in tandem. It just means they are different words with different definitions.
Also your statement is incorrect most likely due to operating costs associated since those also go up. But that instance wouldn’t be price gouging.
MotoAsh@lemmy.world 1 year ago
Ahh yes, that’s why so many companies have posted record profifs. Record profits during these checks notes “tough” times.
Tough times for who?
kautau@lemmy.world 1 year ago
No no you don’t understand. Every single company needs to double its profits every quarter until we can find a way to turn matter itself into profit, consume all of it, and become pure energy, setting ourselves up for the next big bang. The growth must continue until all existence is consumed
Vendetta9076@sh.itjust.works 1 year ago
Are you under the assumption that Im defending these actions?
MotoAsh@lemmy.world 1 year ago
Calling greedflation not real is absolutely functionally running cover for it. You are either wrong or gaslighting. If you donpt know you are wrong, then you are srill functionally gaslighting, just also gaslighting yourself.
Stop gaslighting. Greedflation is real. So is Shrinkflation. They are terms for phenomina that actually happen.
Vendetta9076@sh.itjust.works 1 year ago
Yeah… You’re arguing points I never disagreed with. Just because I think greedflation is a moronic term doesn’t mean Im a gaslighter lmao. Price gouging is an awful practice. It is actually illegal in the civilized world, unlike America. Take a deep breath and a step back mate. You’ll feel better.
drphungky@lemmy.world 1 year ago
You might want to read this comment I posted elsewhere on the thread, but greedflation objectively isn’t a thing, at least not in the US during and immediately after the COVID epidemic. It definitelyfeels like it, as one can tell from your…heated rhetoric, but that’s due to a lot of other issues, not because it actually happening.
So-called “shrinkflation” is definitely real, but I don’t think anybody is arguing otherwise, and it’s not exactly a new phenomenon. It’s been happening and being measured for decades and decades.