I had this argument with a guy yesterday, he blamed price inflation on greedy corporations charging more. I'm like yeah and what else is new. Everyone charges as much as they can and still sell there product/service, that didn't start 3 years ago.
@@123chargeit -I strongly suspect the youngest consumers, pent up during the pandemic, maybe just now earning enough beyond school debt or paycheck to paycheck , have been oblivious to price raises because they don’t have much experience with purchasing either normal goods or larger ticket items. Ie they are willing to pay more because they don’t know better. The result? The “normal” greed of companies, the excuses of the (real) cost rises due to supply & demand differences from the pandemic, and the susceptibility of the new consumers has driven some of the ridiculous inflation higher than otherwise might have happened-if, say, it was 5-15 years ago.
@@whatisahandle221 May I respectfully submit another life lesson which in this old man observation has always proved true: "There grew up a new generation which knew not" (Jug 2.10).
The problem is price stickiness. When something goes up it rarely goes down, even if the factors that made it go up in the first place are no longer there.
Market elasticity theory goes out the window in a predominantly monopolistic economy. When a small number of companies control a high majority of their market segment (oil, airlines, grocery stores, car dealerships, meat packing plants, etc) they can 'informally' collude to price their products to bring industry wide profits up - and they do. Many US industries are raising prices far beyond their increased costs due to inflated costs of input, and are now registering their highest profits in years; to the tune of 100-300% profit increases. The US will never get inflation under control simply by raising interest rates.
You are 100% correct sir. This is why so many people feel as if everything is more expensive and the cost of living is increasing. It has nothing to do with whether consumers are willing to pay X,Y,Z for a product. It's Bs. It's about what other choice do we have? We have to send our kids to daycare. We need a place to live. We have to fill up the car with gas. We need to buy food. I've got to fly across the country.
In Australia we have a duopoly in the supermarket sector just Woolies and Coles , Aldi are trying to break into the market for 25 years now but most of us don't know Aldi from a car brand
In 2008 I was stacking shelves and noticed that every Monday the price tickets would have to be changed and a cup of ice-cream would go up 5 cents a week.
@@spacetoast7783 they're inflating prices because they know they can. Because the idea of inflation has seeped into the collective consciousness that everything has a higher price. If they weren't being greed they wouldn't be reporting record profits.
They slightly mentioned willingness to pay. We know certain foods and TP we will purchase no matter what because we cant live without it. The laundry detergent, smart ones will purchase the cheaper brands because they are just as good as the others. Arm and Hammer is one of them. You get more volume for the same price as Tide.
@@hoangle2483 anti trust laws and there are judges that can block these actions. Also these smaller brands likely wouldn't allow the sale knowing they could increase their market share and make more that way.
Dangerous gamble for branded products. Customers who start to switch to unbranded may not return to branded until the quality of unbranded is not acceptable. Complex products may boundce back easily, basics may never recover the customer.
since most of us have gone digital now. I suspect these are corporations and government institutions which are still somewhat required to have paper documents (due to law and regulation) and thus having to buy staples. And they buy in bulk.
Companies shrunk product's to keep the same price but I noticed! What this report did not mentioned is that Planet Fitness required members to provide their checking account number to bill directly. The us no way I will let any company to have my checking account!
@@fakeemail4005 most people can save on paper by not wrapping it a million times around a hand. However, you spend more on price of bidet, addtl water usage, price of bidet and install. Bidets are fine and all, but it ain't exactly a money saver.
How? I don't follow the logic. Inventing new products, especially if that product already has a market, should, in theory, lower costs bc of competition. Either that or the quality of the competing products would have to improve to justify the cost.
This video is sad because it shows how much the American middle class has shrunk over the years. Back in 2015 the Pew Research Center said that the U.S. middle class is no longer the majority of the country anymore, which means that many of us are living paycheck-to-paycheck or just getting by with working class salaries. We can't spend as freely and buy things plentifully as the baby boomer generation used to do. Essentially the baby boomer generation was the peak of the U.S. middle class and now it's all going hill with Gen X, Millennials, Gen Y, Alphas, etc. Now they're making stories about heterosexual couples who are young and choosing not to have kids (DINKS) nor own homes, preferring "used" cars, second hand clothes, shop Dollar stores. All while prices keep going up and the top 1-10% of Americans get wealthier and more exclusionary than ever. It's sad.
Becoming a millionaire definitely isn't easy. Building a business and investment starts with believing you can do it! And that's why investing in the financial markets is really good.
Wow😊l know him and I have also been trading with him, he's such an amazing man with good skills, keeps me happy all week knowing I earn 15thousand extra income trading with him.
Amazing I also started trading with Charles recently. $30,000 profits in just 2 months and still counting, Charles Lucas is the crypto trade king as far as am concerned.
Economics 101 - which we called it bird course being applied science students as this together with the like of psychology 101 are courses we took to fill the required "electives" in addition to our heavy course loads. It is not like Economics is a real science. Try understand elasticities of material under all sorts of environmental and load conditions, which is a real science as in material science.
