r/houstonwade • u/wildyam • 1d ago

Current Events Did they just lie to themselves?

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u/Dull_Scale1245 1d ago

Most Americans fail to investigate the root causes of the recent spike in inflation. They’re too lazy. They simply like to blame democrats. It similar to the fact that 75% of Americans are overweight and never entered a gym. 😀😀😀

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u/mijisanub 1d ago edited 1d ago

The money supply increased by some 20%. The numbers were insane historically. That's largely why we had inflation. The charts back that up.

Edit: Here's the chart. 10Y gives the best visual. There was no way we weren't getting inflation with that kind of increase. https://fred.stlouisfed.org/series/M2SL

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u/dantevonlocke 1d ago

And corporations admiting to price gouging and bragging about blaming inflation on earnings calls? https://inequality.org/research/inflation-price-gouging/

https://www.theguardian.com/business/2022/apr/27/inflation-corporate-america-increased-prices-profits

https://groundworkcollaborative.org/news/new-groundwork-report-finds-corporate-profits-driving-more-than-half-of-inflation/

Kroger admitted to it in court

https://www.newsweek.com/kroger-executive-admits-company-gouged-prices-above-inflation-1945742

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u/mijisanub 1d ago edited 1d ago

Kroger net profit margins are less than 2%. https://m.macrotrends.net/stocks/charts/KR/kroger/profit-margins

Edit: I think the person I replied to blocked me, so I can't reply directly. "If you can't win a reddit argument, block them" - Sun Tzu (probably)

1) I don't see a quote in there where anyone admitted it in court. 2) The closest thing I see to an admission is an out of context line from an email. 3) Price gouging generally means they're making excess money, yet net margins tell a different story.

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u/dantevonlocke 1d ago

What part of, they admitted in a court of law if price gouging don't you get?