Once again, even with a strong Democratic president and a democratic senate, democracy is unable to put effective “guard rails“ on runaway, capitalistic monopolies. The very fact that mainstream media does not even want to run a story on this or emphasize it, shows the tremendous influence That corporate ownership has on our once trusted media.
When I was in junior high, my Civics teacher stressed to us that we had a law against monopolies and we would never have any. He was wrong. The very reason the corporations are able to price gouge is because there are 2 or 3 monopolies that own all the companies that produce the products we buy. That's why they can now compare actual brands, such as Pampers vs Luvs, against each other when they used to have to compare their brand against Brand X. The same multi-corporation owns the competing brands. Proctor and Gamble own both Pampers and Luvs so, no matter which one you choose over the other, they still win because they still get your money. That's one reason why so many boycotts don't go anywhere. Unless everyone researches the brands, you're still giving your money to the same corporation. Those rednecks that boycotted Bud Light and drank Stella Artois, Michelob, or Elysian were still putting their money into Anheuser-Busch coffers as they are all under that corporation. They broke up Ma Bell because of this. Why aren't they breaking up P&G, Unilever, and the other members of the 11 corporations that own EVERYTHING? That's what needs to happen. From my research, it looks like the Sherman Antitrust Act was not rescinded. Why aren't they enforcing it? If it was, the Democrats need to put it all back since we know the republicans never will.
Thanks to a High School Adv Placement American History Teacher back when once lost a week, more and more willingly absorbed. . . to The Rise and Fall of The Third Reich . . .and now don't need Rachel Maddow for a chilling depressing sense of deja vu . .. #the space takes
Time to reshow Gordon Gecko saying “For lack of a better word, greed is good.” We were warned but fell for it like suckers. Capitalism sold us the lie that Capitalism is wonderful for everyone. Another Milton Freeman lie.
Molly, for many years, when capitalism was compared with other systems, particularly communism. It looked like it was the best system yet available. However, the world and economics have become much more sophisticated, and also civilization has advanced to the point that we need to create a better system. Just because it exists, and it is better than communism is no reason to cling to such an outmoded economic paradigm.
Economic democracy proposes that primary ownership of businesses should be worker owned cooperatives. However, small businesses up to 20 or 30 employees could be run as capitalist enterprises just as they are now, but when they grow large, they would convert into worker owned cooperatives. Large enterprises, such as steel manufacturing, public utilities and automobile manufacturing would be publicly owned with the profits being utilized to provide services for the public.
Economic democracy also posits that in so much as possible, necessities should be produced within local regions and consumed within those regions. In that manner wealth from from these enterprises is recirculated in the local economy and does not go straight into the pockets of what are now the ultra wealthy capitalists. In contrast, when we purchased goods from national retail chains, the only money that remains in the local economy are in the relatively small wages, earned by the employees, the profits all go to investors that can be located anywhere in the world and accumulate in their bank accounts.
Marc -was there ever really communism? all I saw was a totalitarian state with all the best stuff reserved for the ruling class. I really like the idea of economic democracy. but we still need to remember that capitalism was rooted in the mercantile system, which was basically white rich europeans sending out ships to plunder resources and enslave workers, and at home to use those resources to manufacture goods with not quite starvation wages for the manufacturing class. we still have that model, especially in the southern hemisphere. united states capitalism destroyed central and south america. we are seeing the fruits of that imperialism as people migrate to the promised land from the devastated lands and economies we left them. there really is enough for everyone's needs; just not enough for everyones' greed. but then to be honest, my wife and I each have a teaching pension and we each have social security. i know that our state pensions are vested in all sorts of socially questionable investments. so essentially, i eat, live comfortably, have adequate healthcare - at someone else's expense. but that someone is far away and out of sight. oh well.
Marc, Capitalism and communism are economic theories they work in any political environment.
Democracy and autocracy (whatever it's form) are political theories.
You can call a form of government, like the PRC Communist,or even the old USSR, but all systems that use humans as a resource are the same, communist or capitalist, democratic or autocratic.
A resource is something that is consumed in production. Oil and minerals are non renewable, but somewhat recyclable, life, (animal or vegetable) is renewable until humans extinguish them.
Some how the Scandinavians make their combination of socialism and democracy work. Saami Swedish American here. Traveled there extensively and actual happy countries. Of course their value system is very different from Americans. Lagom.
Most every large corporation is publicly owned. You don’t mean government owned do you?
Also, primary ownership of businesses by workers is a risky proposition for many people. First, the worker will have to buy into the business either directly with cash or indirectly with suppressed wages over some number of years- that’s how small partnerships like medical and legal firms run.
At that point the owner/worker is now responsible for financing the company and its liabilities- signing for loans, putting up collateral for loans, etc. The owner/worker is now liable for lawsuits, corporate failures, bankruptcy and similar problems.
I think founder/CEO’s deseerve that, both the famous ones we are familiar with and the lesser known as well.
Other than that I think CEO compensation is never or almost never justifiable. Most companies could hire great ceos at a fraction of what they’re paid now- historically they never made as much as they do now and companies have expanded and contracted regardless.
Thank you, thank you, thank you. The major subject I remember being discussed back in the 70s in my hs civics class was monopolies. I've tried explaining to everyone who will listen what's going on in the country concerning them and why we have inflation. I've seen it coming down the pipe line for years while nothing was/is being done to stop it.
Biden has started, but he needs every Democrat to have his back. Voting for or against or abstaining to vote are public record in Congress Since the TV and Newspapers aren't doing their jobs, maybe we need to hire some one who will.
You regulate to ensure thst these entities can only mske reasonsble profits in those markets where they operate eg most major corporate bodies derive their profits in G20 economies not in the Carribean so anti competition laws in the EU or US are of most concern to those corporate interests. The weakness in tge current global system is that US congressmen view their priorities somewhat differently than say EU or Canadian politicians when it comes to consumer,environmental or worker protection.
This is the problem with transnational corporations. International free trade opened the doors to this abuse. Only legislation that states, categorically, that to do business in the US, a corporation's head office must be inside the US. I am not a fan of free trade. In my opinion, it hurts the people and enriches the corporate body.
Exactly!! Why isn't the government enforcing the laws of our country? What is going on? trump skates free and no one is enforcing his blatant disregard for the gag order. Companies are willfully breaking the Sherman Antitrust Act and NOBODY is doing a thing!! Something is wrong here.
A monopoly per se is not illegal. Look to UPS as a monopoly achieved legally speaking until FedX came along. It’s only how an anti-competitive monopoly is achieved that’s illegal.
Roger, I thought the Sherman Antitrust Act was a law that prevented monopolies like Ma Bell. The law hasn't been rescinded, so why can't it apply to UPS, FedX, and others?
Marc - I keep telling you all that we don't have a democratic senate. sinema and manchin were only nominal (in name only) democrats. also, even if we had a true democratic majority, there's always the filibuster, or rule by the minority. remember in 2015 -16 before bernie was destroyed by the dnc? think of what he was saying about the oligarchs. now the top 1% of americans own 45 Trillion. it's an unfathomable amount. their wealth almost doubled during the pandemic. how did that happen? I keep returning to chomsky, manufacturing consent. we have a carefully curated stream of information (propaganda) designed to focus and limit the types of conversations we have about geoeconopolitics. the fourth estate's job was never envisioned (at least in idealistic philosophic circles) to be stenography for the oligarchs and gov't. the new york times is truly the paper of recording the fascist reality. by fascist i mean the old definition - the collusion of gov't and oligarchs to pre-empt democratic norms and institutions. remember, cannot have fascism without the underlying oligarchic financing.
sorry i rant. i fall into funk at what we've lost in so many areas, and what we stand to lose if we don't wake up and take action.
Paul, now I'm in a funk!! Reading your post it sounds to me like there is nothing we can do to fix this!! I don't know who to trust in the media because now I feel like all I am being told is propaganda!! When anyone talks about electing a Democratic President, Senate, and House, someone will say there is the filibuster, minority rule, etc. Is this just going to be a continuing vicious circle until a dictator takes over and we all end up living in squalor? This is so very depressing!!
Peggy - I believe it will continue as is until a truely Democratic senate gets rid of the filibuster. It will continue as is until the electoral college is discarded. It will continue as is until an enforceable code of conduct/ethics is established for the supreme court, as well as term limits for all federal judges. It pays to remember that these were all put into the constitution to make it more palatable to the slave states, under the guise of "equal representation". the slave states knew their time would be limited unless they had a way to "minority rule", since the cities, more liberal and educated, would "impose" justice and liberty for all. the propertied white men who gave us this mess, i think, always had doubts about the morality or not of slavery, and certainly about the ability of the common people (the rabble or mob) to participate meaningfully in democracy. what i find sad and depressing is that drumpf would certainly validate that concern by the founding oligarchs (because for their time, that is what they were).
we have fully one half of the american populace who seem intellectually incapable of grasping and living democratic concepts and norms. what do i call wilfull ignorance - stupidity.
Additonally, if one looks at the policy ideas of truly progressive democrats (who are excoriated by mainstream media as fringe or radical) one sees that they are merely concerned with the common good and with true justice, meaning working for racial equality, for equality for women, etc. President Isenhower believed in those principles. just shows how far right the democratic party has gone in service to the oligarchs.
I understand, Paul, it is still so very depressing!! Those politicians who are actually concerned with the common good, true justice, and equality are being pushed out by loud-mouthed idiots who wouldn't know how to legislate if it walked up and slapped them in the face!! I am so extremely tired of this being all there is in the media. This rampant bullhorn that constantly screams negative and dooms day 24/7!! What you have said makes so much sense; however, I fear that the scenario where actual adults who would govern fairly for the people is untenable. I will keep working hard for it even when it seems out of our grasp. Thank you for stating what obviously needs to be said.
Well actually we have a carefully curated stream ( propoganda )of self delusion,and echo chambers.
How did they increase their wealth,simple and obvious,asset prices grew .For example use Musk.In rough numbers the share price of Tesla is 8.5 X more than it was 5 or 6 years ago.So Musk spent money to buy into Tesla around 2012?..You can also spend money to buy shares in Tesla. Now say Musk had $10 billion worth of shares in Tesla he now has $85 billion.If you had $100K worth of shares in Tesla,you now have $850K worth of shares in Tesla.The rich get richer,you get richer.Fortunately the power of self delusion is immense,no matter how many times it is explained,self delusion will always make people deny it.
If we really simplify it across a lifetime then 1980,Sam Walton was the richest man in the world,buy shares in Wal mart. Sam died as everybody will .
Bill Gates became the richest man in the world.Add some shares in Microsoft to your Wal Mart shares.
Life always changes,and remains constant.
Bezos became the richest man in the world through Amazon.Add a third company and spend money on Amazon shares.
Life changes and remains constant.
Musk became the richest man in the world,buy some shares in Tesla.
You have employed rich people to work for you. You have put the odds heavily in your favour. A simple question,if I do what rich people do,have I increased my chances of becoming wealthy,have I put the odds heavily in my favour?
The whole history of the human race was explained around 2000 years ago,I forget the name of the philosopher.
If the facts don't fit in with what they want to see,then the facts are wrong.There is no other possible reason
Mark Twain put it humorously,it ain't what you know that get's you into trouble ,it's what you know for sure that ain't so .
Aussi - oligarchs play with stacked decks. see Linda Querry below. I'm not sure what you're trying to say, although I agree that we all suffer from one sort (or many) of delusion or another. However, the upward transfer of $50 trillion of wealth from middle/poor working folks to the oligarchs since 1980 is not delusion. it's fact. it is (was) a policy choice by the ruling class, as it has always been. only a small percentage of wage earners can afford stocks; most middle class boomers, for example, "own" stocks by virtue of their pensions (if they have one) being vested in the market in some way or another. so it seems delusional to me to suggest that folks just run out and buy the next big thing, unless you're already rich by virture of inherited (unearned) wealth. by the way, a large percentage of wealth today is inherited, or unearned wealth. tax law rigs the rules so that taxes are rarely paid on that unearned wealth, because the rich buy the legislators who pass the tax laws in favor of the rich. how's about we redistribute(heavily tax) that wealth so that people not born to wealth can do, as you say, what rich people do. i'm not suggesting just giving it to people - i'm suggesting investing in the common good so that the likelihood of people experiencing some sort of upward mobility is more likely. is it delusional to think we can do that? sadly, i think it is. i certainly can't afford a representative or senator. nor can i afford a new york times or wapost. or a fox news (you can have murdoch back)
Sorry Marc, I don't consider Biden to be a strong Democratic president and I don't consider our Senate to be strong, of course we have no representation in the house. If Biden would have fired Garland and if Machin and Cinema would have voted like Democrats, I would agree with you.
Yes. We have 4 or 5 rightwing radio stations in the St Louis metro. No leftwing stations comparable. No leftwing sugardaddies who want to fund it. Why is that ?
UNFETTERED CAPITALISM has always been the Mantra of the Far Right in the pursuit of the "American Dream." This has morphed into a fear of any economic restraint as a "Socialist Conspiracy" threatening a "Pur$uit of Happine$$" (ANY & EVERY thing in the name of PROFIT!)
At this point in the DE-evolution of our economic system, people are virtually UNABLE to fathom what the "Common Good" is, let alone how and why this can benefit society!
My ultimate conclusion will be IMPLOSION caused by the "Top 1%" literally collapsing down on the Majority... Happy Easter!
Stock buybacks are a form of stock manipulation, which is why they were outlawed by the Securities and Exchange Commission after the Great Depression, up until deregulation in 1982, that limited buybacks to two percent of profits. Now it’s all the buybacks Wall Street can eat, with nearly 70 percent of all corporate profits going to this form of stock manipulation. In Germany, companies must live within a legislated system of codetermination, meaning that half the seats on a company’s board of directors are held by worker representatives, and labor-management committees run the day-to-day operations of each facility. (BTW, this system was urged upon German businesses by the U.S. after WWII, because we believed unionized workers were less likely than their bosses to cozy up to fascists.) Why can’t we demand Congress reinstate outlawing stock buybacks to 2%of profits, and demand companies be function within a legislated system of codetermination? We have certainly seen the rich and the now/new Republican Party cozying up to fascist ideology and leaders?
If only average American voters could connect the dots. The concept of stock manipulation, monopolies, and its connection to price gouging is as foreign as astrophysics.
I was filling some hours cruising YouTube and saw TYT, Ben Mieselas, and others interviewing folks at a Trump rally. Eager to get attention from anyone who shoved a microphone in front of their face, they attempted to answer questions. “What is the top law of America?” “How many amendments are there in the Constitution?” “How many years does a person in the House of Representatives serve? None could answer these basic questions from the Citizenship Exam.
A group of 4 high school/ college-age kids were asked to sing the National Anthem and couldn’t get through the first 4 lines. Embarrassed at their ignorance? Not at all!
Any chance any of these folks are going to understand why their purchases are more expensive? Or what they can do about it? Not a chance! Much easier on their vacuous brains to do nothing and scapegoat Biden.
Steve, thank you for the link. A 4% tax is a start, but it still doesn’t help protect employees and customers. I would still like to see a limit on the amount of stock buy backs allowed to 2% along with a cap on top administrative salary to 30% of what employees wages are, so that the money would have to go to the workers, and product quality and safety.
Agreed, not yet. I have to believe that if the majority of Americans were educated about what regulations were in place to protect them, and then were taken away so that 1% of the 1% could become immorally wealthy and who now want to govern to maintain their wealth, that they would demand their representatives return to standing for workers. It has taken since the 70’s for workers to loose so much ground. Both parties , granted republicans much more than democrats, abandoned workers. Trump promised them he would restore their jobs, earnings and benefits, but he only supported judges and policies that benefited the rich. He is a master con man. President Biden is the first president since FDR who is not looking short term, but wants a better country for your children and grandchildren, so I think in time we can address income inequality in all its various forms,
It’s important to remember that at least half the country is living paycheck to paycheck and that the bottom 40% doesn’t have even $400 in the bank for an emergency. Combine that with the difficulty of home ownership, college tuition utterly unaffordable and medical bankruptcy the number one cause of bankruptcy …. And you get a better picture of why the economy really isn’t good for most people. The stress of living this way is toxic. Not only are people angry and exhausted, they are sick. As this generation pulls into retirement we have an utter train wreck coming. We are going to need to do far far more to make things right. Returning to the tax structure of the 1950’s is just a start. We need to be paid back for all that was stolen from workers and we need our jobs back. Actually we need to clawback the billionaire money. That money is needed to rebuild the infrastructure and all the abandoned factories.
CatKaz - what a wonderful idea to take back what has been stolen from us. Every person with more than $2 million should be required to return the excess to an honest gov't. that would invest in the common good. now we just need an honest gov't. and a sound definition of the common good. free education through college, universal healthcare, nationlized utilities, internet, transportation, energy, and banking would be a good start. ah, fantasy.
And that 40% of poor folk can't afford to research these issues, either. Most reliable sources have a pay wall these days. Not to mention, being too exhausted from working multiple jobs to do the work anyway. So, uninformed voting is always going to happen.
Paul , you are correct on the bottom 40% of the population. However the next 40% are doing well with jobs paying from 80,000 to the low 6 figures. How do you convince this group who has the education, time and money to influence Congress. I suspect that Mr Reich is not on their daily web sites to read.
This is all part of a many-faceted attack, helping to make Trump appear attractive to voters. Big business will do anything to get a Republican in the White House. They should be punished severely, after Democrats retake the House and improve the Senate margin. Record profits demand record tax rates!
I recently had the conversation that even our eggs are shrinking. I had noticed my "large" eggs seemed more like the size of medium or small. At first I thought maybe the supplier had run out of large eggs but needed to fill the large egg quota, so they put mediums into the large cartons and sent them out that way. They'll do that. However, as I bought eggs and noticed they were small every single time, I knew that wasn't it. I thought maybe I was wrong--until someone else commented that the eggs were smaller than they used to be. Someone else chimed up saying they'd thought so, too. The entire group had felt the eggs were smaller but thought we were just seeing it wrong. I'm now convinced they're selling us small to medium eggs at the large price. I'm going to start to buy the smaller eggs since that's what I'm getting, anyway. I did compare and, yes, they seem as small as the mediums, which cost less. Also, if you've noticed your recipes aren't coming out quite right, that could be why. Either way, it's disgusting and fraudulent. We should all sue them for fraud.
Yeah, I know. I bought only that for several years but, then, I just couldn't afford them anymore because the prices went up. BTW, that was during Bush Jr years for those gearing up to say it is Biden's fault, and it's just gotten worse, since. And, yes, I blame the corporations because they are making record profits and record profits+inflation=pure greed.
Local Farmer's Market? The very best! Locate a local farmer . . . again, the best! The way I look at it is, I pay $5.49 for a dozen large organic brown eggs . . . I don't eat meat but maybe a couple times a year when I get a hankering for BLTs or turkey burgers. I'm not paying for steak, so I'm coming out on the healthier, more affordable end by far! Just a thought. :-))
I'm and conservative and an anti-monopolist. I also spent 40 years involved in manufacturing quality assurance. I have a saying from Gagetalker on my bookshelf, "Without data it's just another opinion™." That is what you are offering about eggs. Weigh them over time. Then tell us again with data. Otherwise, you should be ignored as I intend to do.
It just looks like that to me an seems that way to a number of us and I think I'll just buy medium eggs from now on. I was stating an opinion. Unlike cons, I don't expect you to take it as the absolute truth. Also, ignore away. I couldn't care less and I think it's amusing that you think I would.
"Interesting point of view," The point of view I expressed should be more than interesting, it points to an objective search for truth. Are you buying (or not buying) only on the basis of your own opinion? Or is your opinion influenced by the opinion of others such as paulahik, who appears set in their opinion? Or egg producing companies? Or the Consumer Product Safety Commission? Or MSNBC? Or ???
I supervised a quality testing lab which was supposed to be operating under standard conditions of temperature and humidity. One of the testers felt (in their opinion) the room was too hot. This person toured the plant, complaining to other employees, to me, to the plant manager, and anyone else who would listen. My response was to take the employee to the engineering department and locate drawings of the system designed to control the laboratory temperature and pressure. Then we went to the room where this equipment as located. And we determined that someone had wired a fan motor to turn backwards such that the lab was receiving no cooling air. So the employee's opinion was correct, but just complaining to everyone else was of no consequence. "Without data, it's just another opinion."
I'm a conservative. I read Reich's posts to help understand the left's point of view. Your description of his silo is accurate. He is preaching primarily to the choir. Occasionally I find a topic I agree with such as the harm coming from monopoly; and I have commented to agree. Occasionally I find a topic with which I disagree such as the value of choir opinions when data could be easily found and should be persuasive such as the weight of egg cartons over time.
To not seek such information is a triumph of laziness. No consumer has to be an engineer to weigh an egg carton. It may simply be easier to return from the store and use your phone, tablet, or PC to express your opinion. If you believe in pure democracy and majority voting opinion, Hillary would have won. Biden as well as Reich could condemn the egg producers for shrinkflation and silence anyone coming forward with data which might say otherwise. That is why a Democratic Republic is superior to pure Democracy, especially in the age of Social and Mainstream Media where the immediate temptation is to align with the mob.
By the way, I do believe opinions count, specifically that of my wife of 62 years.
Please explain how corporations can make record profits during an inflation other than them simply price gouging? I've been asking this question for awhile now. I'm no economics wiz by any stretch of the imagination. Seriously, though, if you can give me a logical explanation, I'd like to read it.
Biden's - and the rest of the Democrats' running - campaign(s) should hammer on the inordinate illegitimate control over the economy exercised by inordinate illegitimate corporate profits brought on by their ability to inflate the economy in order to promote their political/economic ends. In other words, they've been doing >exactly the same thing< in pricing their goods and services as Tovarich Defendant MAGgot has been adjudged as doing fraudulently with the valuation of his properties, as he is now facing criminal indictment for. The Democrats should begin serious discussion, not only about a "wealth tax," but a retroactive windfall profits tax, along with a more muscular effort at "trust busting." Of course, any of that will be limited by the action of the SCOTUS as it stands, so it may be time to discuss measures that involve not permitting that kind of SCOTUS to stand any longer. That is, expand and "balance" it to balance the national budget.
I'm a'thinkin' I'll start rudely hornin' in with anyone who says "woke" or mentions "DEI" to me in the future with "you mean blacks or immigrants, don't you?"
No doubt about it! If Thomas is a crook, he learned how at the foot of Alito:
I talked to a maggot today who defended the corporate fascists, because they are the job creators, in his mind anyway. I had to remind him that they created millions of jobs in China.
Bob Johnson, good job! We all need ready- made fast quips back. I'm going to try to remember that one. I think I need a whole book of Dem quips to counter propaganda.
Start by checking out the websites of your state, local, and congressional representative and senators.
They usually have a link where you can send them a message. They may even be able to give you further useful information on suits & petitions you can sign on to.
That would be great, except most of our "representatives" count on donations from the oligarchy, to keep their jobs. Every elected position should have a two term limit. Then perhaps we could count on them acting like a democracy for the second term.
Hardly anyone comments on the fact that the underlying problem is the politicians, Republican, Democrat, or other. It amazes me that hardly anyone (at least when commenting) observed that our economic disintegration has been steady since at least the 1960’s or 1970’s.
Take a look at the wealth division charts. The one percent group had about 26% when the great depression was going on. That number went steadily down from there and was down to about 5% when the '70s rolled around. From that low it has been going steadily up, to 26+% now.
Yes. I think that what is often overlooked is that the lowest 25% in the USA have also seen their standard of living increase substantially. People with low income still have opportunities for decent housing, food, and education.
For me the bigger concern is the erosion of that basic foundation as the federal debt engulfs us.
I live in a red state. Josh Hawley is one of my senators 🤮. If I want this kind of info, I will have to write to others. I considered CREW but I don’t know that this is their kind of thing.
Well, try contacting your local Democratic HQ. I'm sure they'd be delighted to talk to and advise you about how to proceed. After all, they're on the front line of dealing with the MAGgot onslaught in your state.
Whatever will shove what the word really means or represents, that "woke" was devised to avoid saying plainly, back down the throats of those who use that word. The ones who >really< need to start doing it most are the pundits and reporters on the ground when speaking to someone like DeSantis, who really seems to enjoy wanking at the press with it.
Price gouging is certainly a problem, but I don't think it is the principal reason that we hoi poloi are not happy with the economy. Those two reasons are the cost of housing, and the cost of health care. In the REST OF THE FIRST WORLD, health care is provided universally, by a single-payer. Even Medicare is being corrupted by the insurance companies. It's almost unheard of for seniors to have standard Part A and B medicare: most people sign their medicare over to insurance companies because of the Part C enticements, and the need for Part D in order to help pay for prescriptions. And while health care (or the lack of it) is a national issue, housing is an issue being wrangled with locally - NIMBY zoning boards force affordable housing into already overcrowded cities, cartels are buying up houses and turning them into rentals, and landlords are jacking up rents because they can. The price gouging at the supermarket is driven by monopolies. How do you explain the price gouging on rent? I'd like to hear more on that subject in the future, Bob.
Here in Cleveland, a law was just passed making it mandatory that owners of rental properties of any kind must have local representatives available 24/7. A huge percentage of rentals is owned by large, out-of-state entities of various kinds. Back in January, when we had single-digit temperatures for days, there were whole buildings without heat. Tenants tried in vain to find someone to contact. Their buildings were owned by faceless corporations that listed zero contact information. This new regulation will provide a bare minimum of accountability.
The reaction from local real estate professionals? Now rents will go up!
John B. McCormack, Not only are banks, institutions, corporations and residential REITs buying up apartment properties and single family homes and in the case of banks and lenders, holding on to foreclosures as rental investment, there is also the looming possibility of bank and lender ownership from lack of or the ability to obtain at reasonable cost property insurance.
Residential lenders require property owners to carry fire and flood insurance for the life of the loan. Buried in the fine print of the mortgage contract are two possible end scenarios: the lender obtains a minimum level of insurance to meet their requirements and passes on the exorbitant cost of the policy issued from the company of the lender’s choice, which the owner may not be able to afford and is forced out; or, the owner is foreclosed upon by the lender. Some lenders will allow the now former owner to continue to reside in the house as a renter at almost always a higher cost than what was monthly P&I payment, including tax and insurance impounds.
Because central banks keep pumping money into corporations who refuse to invest it in the economy and communities and instead use it to buy back their own shares. Capitalism has become detached from looking to make profit and instead looks to make us all renters. Basically capitalism has Been dead for some time. We should eat the rich.
There still is much ignorance on the effect of concentration in an economy. Just recently I again heard a Boomer say "the market will take care of it." Sorry, but not when there is an effective duopoly in so many markets.
It is hard to make up for 40 years of ineffective civics and basic economics education in one election cycle. That said, we have to keep putting messages like this to educate folks where we can.
This reminds me of the 70's when beef skyrocketed. Homemakers started boycotting beef and did so in some very ingenious ways, such as buying Banquet Dinners (with beef). My mom and I went to Tijuana and filled an ice chest full of beef for pennies on the pound.
It seems like a movement such as this should start again.
“Giant corporations are using supply chain shocks as a cover to excessively raise prices and sometimes charging the same price but shrinking how much consumers actually get,” Warren charges.
A lot of it stems from the Trump decision to raise oil prices at the same time that COVID hit. Like a snowball rolling down the side of a mountain prices on everything rose to become an avalanche.
It's also a national security problem because high oil prices fund the Russian economy, the war in Ukraine and Iranian proxy wars in Places like Syria, Yemen and in Gaza.
A few states, like California, have laws that act like the Price Gouging Act.
Meanwhile, Saudi Arabia controls prices, owns our largest refineries, and controls companies like Exxon.
California is suing Big Oil, Exxon Mobil, Shell, BP, ConocoPhillips and Chevron (the largest oil and gas companies doing business in California) for misleading the public about climate change. The lawsuit was filed in the Superior Court of the State of California, not in federal court. Oct 20, 2023. This is not for price fixing, but the "mens rea," larceny in their hearts, sure sounds like the same.
But we are saved because the DOJ and Prince Garland are going after Apple... a luxury phone maker. Not big beef, not big pork, not big energy, not big soda... headlines over real work.
I have… and the lawsuit. The lawsuit reads like it was written by someone who has zero idea how technology works. There are valid points but a lot of it is junk and will not succeed.
The point of my reply is that there are things going on in corporate America that hit our pockets every single day and they are ignored. You do not have to buy a 1,000 dollar phone. You do need to feed yourself. You do need insurance for your vehicle or home. You need to pay rent. Etc etc etc. I do not see a luxury phone as the number one priority for a government that allegedly cares about its people.
Overcoming enormous resistnce, but a very useful thing. If you've been reading about Boeing, you can see how the optimization of profitability drove them to disregard all kinds of safety standards.
So the solution is to change the rules of the game for corporations to shift the profit horizon farther out, for one thing. There are ways to do this legislatively that I wish Reich would focus more on that might have a chance for passage in Congress. People decrying greed is tiresome.
Probably a revolution. It’s been getting worse since the Dem party sold their souls to the Corporate State (see Dem Leadership Council) with Bill Clinton. Then Citizens United and now a corporate SCOTUS. All 3 branches have sold out!
I don't think Biden has sold out. I think many Democratic senators and house reps have not sold their souls to the devil despite many institutional pressures to do that.
Yes, what does it take to alter corporate charters generally. This is a state by state thing. In missouri such a debate could presently only result in even worse charters.
Once again, even with a strong Democratic president and a democratic senate, democracy is unable to put effective “guard rails“ on runaway, capitalistic monopolies. The very fact that mainstream media does not even want to run a story on this or emphasize it, shows the tremendous influence That corporate ownership has on our once trusted media.
When I was in junior high, my Civics teacher stressed to us that we had a law against monopolies and we would never have any. He was wrong. The very reason the corporations are able to price gouge is because there are 2 or 3 monopolies that own all the companies that produce the products we buy. That's why they can now compare actual brands, such as Pampers vs Luvs, against each other when they used to have to compare their brand against Brand X. The same multi-corporation owns the competing brands. Proctor and Gamble own both Pampers and Luvs so, no matter which one you choose over the other, they still win because they still get your money. That's one reason why so many boycotts don't go anywhere. Unless everyone researches the brands, you're still giving your money to the same corporation. Those rednecks that boycotted Bud Light and drank Stella Artois, Michelob, or Elysian were still putting their money into Anheuser-Busch coffers as they are all under that corporation. They broke up Ma Bell because of this. Why aren't they breaking up P&G, Unilever, and the other members of the 11 corporations that own EVERYTHING? That's what needs to happen. From my research, it looks like the Sherman Antitrust Act was not rescinded. Why aren't they enforcing it? If it was, the Democrats need to put it all back since we know the republicans never will.
Paula, this looks like a great letter to the editor. Send it to the New York times.
I might. I was also thinking of sending it to Bernie and Elizabeth Warren. They have a better chance of pushing the Sherman Act than I do.
Right 👍! Send it everywhere.
Good thinking Paulahik
No, send it locally.
Send it to WaPo too. I’d love to see if Bezos’ editors have the independence to print it. 🙂
Thanks to a High School Adv Placement American History Teacher back when once lost a week, more and more willingly absorbed. . . to The Rise and Fall of The Third Reich . . .and now don't need Rachel Maddow for a chilling depressing sense of deja vu . .. #the space takes
a k a But It Rhymes
What did you say??
Time to reshow Gordon Gecko saying “For lack of a better word, greed is good.” We were warned but fell for it like suckers. Capitalism sold us the lie that Capitalism is wonderful for everyone. Another Milton Freeman lie.
Molly, for many years, when capitalism was compared with other systems, particularly communism. It looked like it was the best system yet available. However, the world and economics have become much more sophisticated, and also civilization has advanced to the point that we need to create a better system. Just because it exists, and it is better than communism is no reason to cling to such an outmoded economic paradigm.
Economic democracy proposes that primary ownership of businesses should be worker owned cooperatives. However, small businesses up to 20 or 30 employees could be run as capitalist enterprises just as they are now, but when they grow large, they would convert into worker owned cooperatives. Large enterprises, such as steel manufacturing, public utilities and automobile manufacturing would be publicly owned with the profits being utilized to provide services for the public.
Economic democracy also posits that in so much as possible, necessities should be produced within local regions and consumed within those regions. In that manner wealth from from these enterprises is recirculated in the local economy and does not go straight into the pockets of what are now the ultra wealthy capitalists. In contrast, when we purchased goods from national retail chains, the only money that remains in the local economy are in the relatively small wages, earned by the employees, the profits all go to investors that can be located anywhere in the world and accumulate in their bank accounts.
Marc -was there ever really communism? all I saw was a totalitarian state with all the best stuff reserved for the ruling class. I really like the idea of economic democracy. but we still need to remember that capitalism was rooted in the mercantile system, which was basically white rich europeans sending out ships to plunder resources and enslave workers, and at home to use those resources to manufacture goods with not quite starvation wages for the manufacturing class. we still have that model, especially in the southern hemisphere. united states capitalism destroyed central and south america. we are seeing the fruits of that imperialism as people migrate to the promised land from the devastated lands and economies we left them. there really is enough for everyone's needs; just not enough for everyones' greed. but then to be honest, my wife and I each have a teaching pension and we each have social security. i know that our state pensions are vested in all sorts of socially questionable investments. so essentially, i eat, live comfortably, have adequate healthcare - at someone else's expense. but that someone is far away and out of sight. oh well.
Marc, Capitalism and communism are economic theories they work in any political environment.
Democracy and autocracy (whatever it's form) are political theories.
You can call a form of government, like the PRC Communist,or even the old USSR, but all systems that use humans as a resource are the same, communist or capitalist, democratic or autocratic.
A resource is something that is consumed in production. Oil and minerals are non renewable, but somewhat recyclable, life, (animal or vegetable) is renewable until humans extinguish them.
Some how the Scandinavians make their combination of socialism and democracy work. Saami Swedish American here. Traveled there extensively and actual happy countries. Of course their value system is very different from Americans. Lagom.
Excellent, Marc!!
Most every large corporation is publicly owned. You don’t mean government owned do you?
Also, primary ownership of businesses by workers is a risky proposition for many people. First, the worker will have to buy into the business either directly with cash or indirectly with suppressed wages over some number of years- that’s how small partnerships like medical and legal firms run.
At that point the owner/worker is now responsible for financing the company and its liabilities- signing for loans, putting up collateral for loans, etc. The owner/worker is now liable for lawsuits, corporate failures, bankruptcy and similar problems.
Which CEO’s do you think deserve $10M+ annually in total compensation?
I think founder/CEO’s deseerve that, both the famous ones we are familiar with and the lesser known as well.
Other than that I think CEO compensation is never or almost never justifiable. Most companies could hire great ceos at a fraction of what they’re paid now- historically they never made as much as they do now and companies have expanded and contracted regardless.
And then there’s social darwinism where only the strong, economically speaking, survive.
Yeah, because socialism has worked out so well around the world.
Outstanding comment, Paula! Timely and devastating accurate!
Only a few companies are also owning our Media organizations, therefore they can control what we hear about these take overs too.
I didn't think about that one but, yes, so very true.
Thank you, thank you, thank you. The major subject I remember being discussed back in the 70s in my hs civics class was monopolies. I've tried explaining to everyone who will listen what's going on in the country concerning them and why we have inflation. I've seen it coming down the pipe line for years while nothing was/is being done to stop it.
Same.
Biden has started, but he needs every Democrat to have his back. Voting for or against or abstaining to vote are public record in Congress Since the TV and Newspapers aren't doing their jobs, maybe we need to hire some one who will.
Finally some media tells you who voted for legislation or gives you the link.
You can ask the Congressional office yourself. You don't need the media. it's online
How do you break up an international corporation that does business pretty much everywhere and is headquartered outside the US?
You regulate to ensure thst these entities can only mske reasonsble profits in those markets where they operate eg most major corporate bodies derive their profits in G20 economies not in the Carribean so anti competition laws in the EU or US are of most concern to those corporate interests. The weakness in tge current global system is that US congressmen view their priorities somewhat differently than say EU or Canadian politicians when it comes to consumer,environmental or worker protection.
This is the problem with transnational corporations. International free trade opened the doors to this abuse. Only legislation that states, categorically, that to do business in the US, a corporation's head office must be inside the US. I am not a fan of free trade. In my opinion, it hurts the people and enriches the corporate body.
Exactly!! Why isn't the government enforcing the laws of our country? What is going on? trump skates free and no one is enforcing his blatant disregard for the gag order. Companies are willfully breaking the Sherman Antitrust Act and NOBODY is doing a thing!! Something is wrong here.
A monopoly per se is not illegal. Look to UPS as a monopoly achieved legally speaking until FedX came along. It’s only how an anti-competitive monopoly is achieved that’s illegal.
Roger, I thought the Sherman Antitrust Act was a law that prevented monopolies like Ma Bell. The law hasn't been rescinded, so why can't it apply to UPS, FedX, and others?
Marc - I keep telling you all that we don't have a democratic senate. sinema and manchin were only nominal (in name only) democrats. also, even if we had a true democratic majority, there's always the filibuster, or rule by the minority. remember in 2015 -16 before bernie was destroyed by the dnc? think of what he was saying about the oligarchs. now the top 1% of americans own 45 Trillion. it's an unfathomable amount. their wealth almost doubled during the pandemic. how did that happen? I keep returning to chomsky, manufacturing consent. we have a carefully curated stream of information (propaganda) designed to focus and limit the types of conversations we have about geoeconopolitics. the fourth estate's job was never envisioned (at least in idealistic philosophic circles) to be stenography for the oligarchs and gov't. the new york times is truly the paper of recording the fascist reality. by fascist i mean the old definition - the collusion of gov't and oligarchs to pre-empt democratic norms and institutions. remember, cannot have fascism without the underlying oligarchic financing.
sorry i rant. i fall into funk at what we've lost in so many areas, and what we stand to lose if we don't wake up and take action.
We're awake (at least some of us) (maybe even a lot of us) but we don't know what to do.
Paul, now I'm in a funk!! Reading your post it sounds to me like there is nothing we can do to fix this!! I don't know who to trust in the media because now I feel like all I am being told is propaganda!! When anyone talks about electing a Democratic President, Senate, and House, someone will say there is the filibuster, minority rule, etc. Is this just going to be a continuing vicious circle until a dictator takes over and we all end up living in squalor? This is so very depressing!!
Peggy - I believe it will continue as is until a truely Democratic senate gets rid of the filibuster. It will continue as is until the electoral college is discarded. It will continue as is until an enforceable code of conduct/ethics is established for the supreme court, as well as term limits for all federal judges. It pays to remember that these were all put into the constitution to make it more palatable to the slave states, under the guise of "equal representation". the slave states knew their time would be limited unless they had a way to "minority rule", since the cities, more liberal and educated, would "impose" justice and liberty for all. the propertied white men who gave us this mess, i think, always had doubts about the morality or not of slavery, and certainly about the ability of the common people (the rabble or mob) to participate meaningfully in democracy. what i find sad and depressing is that drumpf would certainly validate that concern by the founding oligarchs (because for their time, that is what they were).
we have fully one half of the american populace who seem intellectually incapable of grasping and living democratic concepts and norms. what do i call wilfull ignorance - stupidity.
Additonally, if one looks at the policy ideas of truly progressive democrats (who are excoriated by mainstream media as fringe or radical) one sees that they are merely concerned with the common good and with true justice, meaning working for racial equality, for equality for women, etc. President Isenhower believed in those principles. just shows how far right the democratic party has gone in service to the oligarchs.
I understand, Paul, it is still so very depressing!! Those politicians who are actually concerned with the common good, true justice, and equality are being pushed out by loud-mouthed idiots who wouldn't know how to legislate if it walked up and slapped them in the face!! I am so extremely tired of this being all there is in the media. This rampant bullhorn that constantly screams negative and dooms day 24/7!! What you have said makes so much sense; however, I fear that the scenario where actual adults who would govern fairly for the people is untenable. I will keep working hard for it even when it seems out of our grasp. Thank you for stating what obviously needs to be said.
Well actually we have a carefully curated stream ( propoganda )of self delusion,and echo chambers.
How did they increase their wealth,simple and obvious,asset prices grew .For example use Musk.In rough numbers the share price of Tesla is 8.5 X more than it was 5 or 6 years ago.So Musk spent money to buy into Tesla around 2012?..You can also spend money to buy shares in Tesla. Now say Musk had $10 billion worth of shares in Tesla he now has $85 billion.If you had $100K worth of shares in Tesla,you now have $850K worth of shares in Tesla.The rich get richer,you get richer.Fortunately the power of self delusion is immense,no matter how many times it is explained,self delusion will always make people deny it.
If we really simplify it across a lifetime then 1980,Sam Walton was the richest man in the world,buy shares in Wal mart. Sam died as everybody will .
Bill Gates became the richest man in the world.Add some shares in Microsoft to your Wal Mart shares.
Life always changes,and remains constant.
Bezos became the richest man in the world through Amazon.Add a third company and spend money on Amazon shares.
Life changes and remains constant.
Musk became the richest man in the world,buy some shares in Tesla.
You have employed rich people to work for you. You have put the odds heavily in your favour. A simple question,if I do what rich people do,have I increased my chances of becoming wealthy,have I put the odds heavily in my favour?
The whole history of the human race was explained around 2000 years ago,I forget the name of the philosopher.
If the facts don't fit in with what they want to see,then the facts are wrong.There is no other possible reason
Mark Twain put it humorously,it ain't what you know that get's you into trouble ,it's what you know for sure that ain't so .
Such is the unbreakable power of self delusion.
Aussi - oligarchs play with stacked decks. see Linda Querry below. I'm not sure what you're trying to say, although I agree that we all suffer from one sort (or many) of delusion or another. However, the upward transfer of $50 trillion of wealth from middle/poor working folks to the oligarchs since 1980 is not delusion. it's fact. it is (was) a policy choice by the ruling class, as it has always been. only a small percentage of wage earners can afford stocks; most middle class boomers, for example, "own" stocks by virtue of their pensions (if they have one) being vested in the market in some way or another. so it seems delusional to me to suggest that folks just run out and buy the next big thing, unless you're already rich by virture of inherited (unearned) wealth. by the way, a large percentage of wealth today is inherited, or unearned wealth. tax law rigs the rules so that taxes are rarely paid on that unearned wealth, because the rich buy the legislators who pass the tax laws in favor of the rich. how's about we redistribute(heavily tax) that wealth so that people not born to wealth can do, as you say, what rich people do. i'm not suggesting just giving it to people - i'm suggesting investing in the common good so that the likelihood of people experiencing some sort of upward mobility is more likely. is it delusional to think we can do that? sadly, i think it is. i certainly can't afford a representative or senator. nor can i afford a new york times or wapost. or a fox news (you can have murdoch back)
Sorry Marc, I don't consider Biden to be a strong Democratic president and I don't consider our Senate to be strong, of course we have no representation in the house. If Biden would have fired Garland and if Machin and Cinema would have voted like Democrats, I would agree with you.
Marc, I agree.
Imo corp. dems are lukewarm about controlling Big Business because they’re getting rich too.
We need to branch out and start anew by creating grassroots media like this one and our voices must be united and strong
Yes. We have 4 or 5 rightwing radio stations in the St Louis metro. No leftwing stations comparable. No leftwing sugardaddies who want to fund it. Why is that ?
UNFETTERED CAPITALISM has always been the Mantra of the Far Right in the pursuit of the "American Dream." This has morphed into a fear of any economic restraint as a "Socialist Conspiracy" threatening a "Pur$uit of Happine$$" (ANY & EVERY thing in the name of PROFIT!)
At this point in the DE-evolution of our economic system, people are virtually UNABLE to fathom what the "Common Good" is, let alone how and why this can benefit society!
My ultimate conclusion will be IMPLOSION caused by the "Top 1%" literally collapsing down on the Majority... Happy Easter!
when you attack billionaires you attack me cause I'm going to be a billionaire someday. Right after i win the lottery.
What!?!? You gotta win the lottery BEFORE becoming a billionaire?!?!
Oh yeah, that's right, the Million from the lottery will be the "startup" for
your billion... and I thought you were just a "slacker!!!" (LOL)
Slackers for Trump!
"You gotta dream big to win big."
👆Marked safe from diversions tactics .. He gets it!
Why do you continue to label media as mainstream? It’s been corporate media for many years. Call it what it is!
Not “mainstream media”.
But “corporate PR departments.”
Its all large corporations.... and very few of them anymore....that own everything .....no longer any independent media.
https://www.reddit.com/r/coolguides/comments/fs5g0b/more_than_90_of_the_us_media_is_controlled_by/?
Our Founding Fathers wanted to protect a FREE PRESS. Not sure Murdoch’s enterprise qualifies.
I thought it was “mainstream” because it reached the mainstream. I’ll start calling it corporate media. 🙂
Stock buybacks are a form of stock manipulation, which is why they were outlawed by the Securities and Exchange Commission after the Great Depression, up until deregulation in 1982, that limited buybacks to two percent of profits. Now it’s all the buybacks Wall Street can eat, with nearly 70 percent of all corporate profits going to this form of stock manipulation. In Germany, companies must live within a legislated system of codetermination, meaning that half the seats on a company’s board of directors are held by worker representatives, and labor-management committees run the day-to-day operations of each facility. (BTW, this system was urged upon German businesses by the U.S. after WWII, because we believed unionized workers were less likely than their bosses to cozy up to fascists.) Why can’t we demand Congress reinstate outlawing stock buybacks to 2%of profits, and demand companies be function within a legislated system of codetermination? We have certainly seen the rich and the now/new Republican Party cozying up to fascist ideology and leaders?
Linda Querry
If only average American voters could connect the dots. The concept of stock manipulation, monopolies, and its connection to price gouging is as foreign as astrophysics.
I was filling some hours cruising YouTube and saw TYT, Ben Mieselas, and others interviewing folks at a Trump rally. Eager to get attention from anyone who shoved a microphone in front of their face, they attempted to answer questions. “What is the top law of America?” “How many amendments are there in the Constitution?” “How many years does a person in the House of Representatives serve? None could answer these basic questions from the Citizenship Exam.
A group of 4 high school/ college-age kids were asked to sing the National Anthem and couldn’t get through the first 4 lines. Embarrassed at their ignorance? Not at all!
Any chance any of these folks are going to understand why their purchases are more expensive? Or what they can do about it? Not a chance! Much easier on their vacuous brains to do nothing and scapegoat Biden.
To be fair it ain’t any different at a Biden or any other rally.
Biden wants to quadruple taxes on stock buybacks.
https://markets.businessinsider.com/news/stocks/joe-biden-administration-wants-to-quadruple-taxes-on-stock-buybacks-2024-3?op=1
Steve, thank you for the link. A 4% tax is a start, but it still doesn’t help protect employees and customers. I would still like to see a limit on the amount of stock buy backs allowed to 2% along with a cap on top administrative salary to 30% of what employees wages are, so that the money would have to go to the workers, and product quality and safety.
But would that get passed?
Agreed, not yet. I have to believe that if the majority of Americans were educated about what regulations were in place to protect them, and then were taken away so that 1% of the 1% could become immorally wealthy and who now want to govern to maintain their wealth, that they would demand their representatives return to standing for workers. It has taken since the 70’s for workers to loose so much ground. Both parties , granted republicans much more than democrats, abandoned workers. Trump promised them he would restore their jobs, earnings and benefits, but he only supported judges and policies that benefited the rich. He is a master con man. President Biden is the first president since FDR who is not looking short term, but wants a better country for your children and grandchildren, so I think in time we can address income inequality in all its various forms,
It’s important to remember that at least half the country is living paycheck to paycheck and that the bottom 40% doesn’t have even $400 in the bank for an emergency. Combine that with the difficulty of home ownership, college tuition utterly unaffordable and medical bankruptcy the number one cause of bankruptcy …. And you get a better picture of why the economy really isn’t good for most people. The stress of living this way is toxic. Not only are people angry and exhausted, they are sick. As this generation pulls into retirement we have an utter train wreck coming. We are going to need to do far far more to make things right. Returning to the tax structure of the 1950’s is just a start. We need to be paid back for all that was stolen from workers and we need our jobs back. Actually we need to clawback the billionaire money. That money is needed to rebuild the infrastructure and all the abandoned factories.
You can thank corporations and bribed politicians for this. It has to stop and can be stopped...by us!!
And yet headlines the past few days sang out how much $$ the Biden Obama Clinton rally made. Mixed messages much?
The media is clearly controlled by Republicans and the rich trying to protect their piles of gold!
CatKaz - what a wonderful idea to take back what has been stolen from us. Every person with more than $2 million should be required to return the excess to an honest gov't. that would invest in the common good. now we just need an honest gov't. and a sound definition of the common good. free education through college, universal healthcare, nationlized utilities, internet, transportation, energy, and banking would be a good start. ah, fantasy.
And that 40% of poor folk can't afford to research these issues, either. Most reliable sources have a pay wall these days. Not to mention, being too exhausted from working multiple jobs to do the work anyway. So, uninformed voting is always going to happen.
^^THIS.^^ A thousand times, CatKaz.
Paul , you are correct on the bottom 40% of the population. However the next 40% are doing well with jobs paying from 80,000 to the low 6 figures. How do you convince this group who has the education, time and money to influence Congress. I suspect that Mr Reich is not on their daily web sites to read.
This is all part of a many-faceted attack, helping to make Trump appear attractive to voters. Big business will do anything to get a Republican in the White House. They should be punished severely, after Democrats retake the House and improve the Senate margin. Record profits demand record tax rates!
And windfall taxes.
Maybe not. Trump not gertting the big business donors like before, is he ?
I recently had the conversation that even our eggs are shrinking. I had noticed my "large" eggs seemed more like the size of medium or small. At first I thought maybe the supplier had run out of large eggs but needed to fill the large egg quota, so they put mediums into the large cartons and sent them out that way. They'll do that. However, as I bought eggs and noticed they were small every single time, I knew that wasn't it. I thought maybe I was wrong--until someone else commented that the eggs were smaller than they used to be. Someone else chimed up saying they'd thought so, too. The entire group had felt the eggs were smaller but thought we were just seeing it wrong. I'm now convinced they're selling us small to medium eggs at the large price. I'm going to start to buy the smaller eggs since that's what I'm getting, anyway. I did compare and, yes, they seem as small as the mediums, which cost less. Also, if you've noticed your recipes aren't coming out quite right, that could be why. Either way, it's disgusting and fraudulent. We should all sue them for fraud.
Buy organic, from pasture-raised/grazed chickens. They're quite large. :) And dark yellow to orange yolks -- quite delicious!
Yeah, I know. I bought only that for several years but, then, I just couldn't afford them anymore because the prices went up. BTW, that was during Bush Jr years for those gearing up to say it is Biden's fault, and it's just gotten worse, since. And, yes, I blame the corporations because they are making record profits and record profits+inflation=pure greed.
Local Farmer's Market? The very best! Locate a local farmer . . . again, the best! The way I look at it is, I pay $5.49 for a dozen large organic brown eggs . . . I don't eat meat but maybe a couple times a year when I get a hankering for BLTs or turkey burgers. I'm not paying for steak, so I'm coming out on the healthier, more affordable end by far! Just a thought. :-))
Yes, and twice the price. But yes I buy them as well...fir my health.
paulahik- they're obviously feeding less to smaller chickens. the big eggs from big chickens are reserved for the oligarchs.
I'm and conservative and an anti-monopolist. I also spent 40 years involved in manufacturing quality assurance. I have a saying from Gagetalker on my bookshelf, "Without data it's just another opinion™." That is what you are offering about eggs. Weigh them over time. Then tell us again with data. Otherwise, you should be ignored as I intend to do.
It just looks like that to me an seems that way to a number of us and I think I'll just buy medium eggs from now on. I was stating an opinion. Unlike cons, I don't expect you to take it as the absolute truth. Also, ignore away. I couldn't care less and I think it's amusing that you think I would.
"Interesting point of view," The point of view I expressed should be more than interesting, it points to an objective search for truth. Are you buying (or not buying) only on the basis of your own opinion? Or is your opinion influenced by the opinion of others such as paulahik, who appears set in their opinion? Or egg producing companies? Or the Consumer Product Safety Commission? Or MSNBC? Or ???
I supervised a quality testing lab which was supposed to be operating under standard conditions of temperature and humidity. One of the testers felt (in their opinion) the room was too hot. This person toured the plant, complaining to other employees, to me, to the plant manager, and anyone else who would listen. My response was to take the employee to the engineering department and locate drawings of the system designed to control the laboratory temperature and pressure. Then we went to the room where this equipment as located. And we determined that someone had wired a fan motor to turn backwards such that the lab was receiving no cooling air. So the employee's opinion was correct, but just complaining to everyone else was of no consequence. "Without data, it's just another opinion."
I'm a conservative. I read Reich's posts to help understand the left's point of view. Your description of his silo is accurate. He is preaching primarily to the choir. Occasionally I find a topic I agree with such as the harm coming from monopoly; and I have commented to agree. Occasionally I find a topic with which I disagree such as the value of choir opinions when data could be easily found and should be persuasive such as the weight of egg cartons over time.
To not seek such information is a triumph of laziness. No consumer has to be an engineer to weigh an egg carton. It may simply be easier to return from the store and use your phone, tablet, or PC to express your opinion. If you believe in pure democracy and majority voting opinion, Hillary would have won. Biden as well as Reich could condemn the egg producers for shrinkflation and silence anyone coming forward with data which might say otherwise. That is why a Democratic Republic is superior to pure Democracy, especially in the age of Social and Mainstream Media where the immediate temptation is to align with the mob.
By the way, I do believe opinions count, specifically that of my wife of 62 years.
Please explain how corporations can make record profits during an inflation other than them simply price gouging? I've been asking this question for awhile now. I'm no economics wiz by any stretch of the imagination. Seriously, though, if you can give me a logical explanation, I'd like to read it.
Biden's - and the rest of the Democrats' running - campaign(s) should hammer on the inordinate illegitimate control over the economy exercised by inordinate illegitimate corporate profits brought on by their ability to inflate the economy in order to promote their political/economic ends. In other words, they've been doing >exactly the same thing< in pricing their goods and services as Tovarich Defendant MAGgot has been adjudged as doing fraudulently with the valuation of his properties, as he is now facing criminal indictment for. The Democrats should begin serious discussion, not only about a "wealth tax," but a retroactive windfall profits tax, along with a more muscular effort at "trust busting." Of course, any of that will be limited by the action of the SCOTUS as it stands, so it may be time to discuss measures that involve not permitting that kind of SCOTUS to stand any longer. That is, expand and "balance" it to balance the national budget.
Here's another part of it that needs more attention: https://youtu.be/RZODxn5yFIQ?si=og-0_6dopGlsiZO_
I'm a'thinkin' I'll start rudely hornin' in with anyone who says "woke" or mentions "DEI" to me in the future with "you mean blacks or immigrants, don't you?"
No doubt about it! If Thomas is a crook, he learned how at the foot of Alito:
https://youtu.be/rt3d9RZtIgw?si=QVA88Uw-CnGyd8BJ
Yes! Retroactive windfall profits tax! Who can we call to look into this?
You’d think that with all the people being gouged, there’d be a class action suit of some kind we could file.
I talked to a maggot today who defended the corporate fascists, because they are the job creators, in his mind anyway. I had to remind him that they created millions of jobs in China.
Bob Johnson, good job! We all need ready- made fast quips back. I'm going to try to remember that one. I think I need a whole book of Dem quips to counter propaganda.
Start by checking out the websites of your state, local, and congressional representative and senators.
They usually have a link where you can send them a message. They may even be able to give you further useful information on suits & petitions you can sign on to.
That would be great, except most of our "representatives" count on donations from the oligarchy, to keep their jobs. Every elected position should have a two term limit. Then perhaps we could count on them acting like a democracy for the second term.
Hardly anyone comments on the fact that the underlying problem is the politicians, Republican, Democrat, or other. It amazes me that hardly anyone (at least when commenting) observed that our economic disintegration has been steady since at least the 1960’s or 1970’s.
it's the system more than individuals
Take a look at the wealth division charts. The one percent group had about 26% when the great depression was going on. That number went steadily down from there and was down to about 5% when the '70s rolled around. From that low it has been going steadily up, to 26+% now.
Yes. I think that what is often overlooked is that the lowest 25% in the USA have also seen their standard of living increase substantially. People with low income still have opportunities for decent housing, food, and education.
For me the bigger concern is the erosion of that basic foundation as the federal debt engulfs us.
2 term limits hand power over to lobbyists. It destroys institutional knowledge.
Look at the practical outcomes where it has been implemented.
Huh? None come to mind.
I live in a red state. Josh Hawley is one of my senators 🤮. If I want this kind of info, I will have to write to others. I considered CREW but I don’t know that this is their kind of thing.
Well, try contacting your local Democratic HQ. I'm sure they'd be delighted to talk to and advise you about how to proceed. After all, they're on the front line of dealing with the MAGgot onslaught in your state.
DZK, or you could come back with, So you prefer to be asleep and discriminate against people?
But "discriminate" is a four-syllable word! It'd probably be better to say for'ners than immigrants, too! 🤣
How about “hate people who aren’t like you”? I know it’s more words, but they’re mostly one syllable.
Whatever will shove what the word really means or represents, that "woke" was devised to avoid saying plainly, back down the throats of those who use that word. The ones who >really< need to start doing it most are the pundits and reporters on the ground when speaking to someone like DeSantis, who really seems to enjoy wanking at the press with it.
DZK, hahaha!
👍
A wealth tax seems popular with voters.
https://www.bloomberg.com/news/articles/2024-03-26/swing-state-voters-favor-tax-the-rich-movement-election-poll?leadSource=uverify%20wall
Price gouging is certainly a problem, but I don't think it is the principal reason that we hoi poloi are not happy with the economy. Those two reasons are the cost of housing, and the cost of health care. In the REST OF THE FIRST WORLD, health care is provided universally, by a single-payer. Even Medicare is being corrupted by the insurance companies. It's almost unheard of for seniors to have standard Part A and B medicare: most people sign their medicare over to insurance companies because of the Part C enticements, and the need for Part D in order to help pay for prescriptions. And while health care (or the lack of it) is a national issue, housing is an issue being wrangled with locally - NIMBY zoning boards force affordable housing into already overcrowded cities, cartels are buying up houses and turning them into rentals, and landlords are jacking up rents because they can. The price gouging at the supermarket is driven by monopolies. How do you explain the price gouging on rent? I'd like to hear more on that subject in the future, Bob.
Rents go up because investment companies are buying up housing. The wealthy will own all the property and everyone else will be tenants.
https://www.nytimes.com/2023/12/06/realestate/wall-street-housing-market.html
Democrats have legislation for many of the ills described on this substack. The only chance to make it real is through the voters of course.
Here in Cleveland, a law was just passed making it mandatory that owners of rental properties of any kind must have local representatives available 24/7. A huge percentage of rentals is owned by large, out-of-state entities of various kinds. Back in January, when we had single-digit temperatures for days, there were whole buildings without heat. Tenants tried in vain to find someone to contact. Their buildings were owned by faceless corporations that listed zero contact information. This new regulation will provide a bare minimum of accountability.
The reaction from local real estate professionals? Now rents will go up!
That is a bare minimum.
John B. McCormack, Not only are banks, institutions, corporations and residential REITs buying up apartment properties and single family homes and in the case of banks and lenders, holding on to foreclosures as rental investment, there is also the looming possibility of bank and lender ownership from lack of or the ability to obtain at reasonable cost property insurance.
Residential lenders require property owners to carry fire and flood insurance for the life of the loan. Buried in the fine print of the mortgage contract are two possible end scenarios: the lender obtains a minimum level of insurance to meet their requirements and passes on the exorbitant cost of the policy issued from the company of the lender’s choice, which the owner may not be able to afford and is forced out; or, the owner is foreclosed upon by the lender. Some lenders will allow the now former owner to continue to reside in the house as a renter at almost always a higher cost than what was monthly P&I payment, including tax and insurance impounds.
Who could've imagined narcissistic corporate fascists would drain us dry & blame Biden for inflation.
Because central banks keep pumping money into corporations who refuse to invest it in the economy and communities and instead use it to buy back their own shares. Capitalism has become detached from looking to make profit and instead looks to make us all renters. Basically capitalism has Been dead for some time. We should eat the rich.
We are heading to a tenant society where the wealthy own all the property.
There still is much ignorance on the effect of concentration in an economy. Just recently I again heard a Boomer say "the market will take care of it." Sorry, but not when there is an effective duopoly in so many markets.
It is hard to make up for 40 years of ineffective civics and basic economics education in one election cycle. That said, we have to keep putting messages like this to educate folks where we can.
Why do these corporations want to hurt ordinary people by making record profits? Such greed is evil!
But the evil doesn't stop until we make it stop.
They can never get enough! You're right, Terry, we have to make them stop! And we can with laws and my enforcing them!
Which most likely can't do without Congress and the House is dysfunctional.
Dawn - just a slight correction - the republican side of the house is dysfunctional.
we should always make that distinction in all our conversations.
You only need that one word to see the cause of ninety-nine percent of what we are talking about in these comments.....
GREED
GREED
GREED
Oops, that's three words.
At least it’s a 1-syllable word, Scott.
They’re selfish.
This reminds me of the 70's when beef skyrocketed. Homemakers started boycotting beef and did so in some very ingenious ways, such as buying Banquet Dinners (with beef). My mom and I went to Tijuana and filled an ice chest full of beef for pennies on the pound.
It seems like a movement such as this should start again.
“Giant corporations are using supply chain shocks as a cover to excessively raise prices and sometimes charging the same price but shrinking how much consumers actually get,” Warren charges.
A lot of it stems from the Trump decision to raise oil prices at the same time that COVID hit. Like a snowball rolling down the side of a mountain prices on everything rose to become an avalanche.
It's also a national security problem because high oil prices fund the Russian economy, the war in Ukraine and Iranian proxy wars in Places like Syria, Yemen and in Gaza.
A few states, like California, have laws that act like the Price Gouging Act.
Meanwhile, Saudi Arabia controls prices, owns our largest refineries, and controls companies like Exxon.
California is suing Big Oil, Exxon Mobil, Shell, BP, ConocoPhillips and Chevron (the largest oil and gas companies doing business in California) for misleading the public about climate change. The lawsuit was filed in the Superior Court of the State of California, not in federal court. Oct 20, 2023. This is not for price fixing, but the "mens rea," larceny in their hearts, sure sounds like the same.
But we are saved because the DOJ and Prince Garland are going after Apple... a luxury phone maker. Not big beef, not big pork, not big energy, not big soda... headlines over real work.
Read your Matt Stoller on ss and you'll get over calling the Apple lawsuit just headlines.
I have… and the lawsuit. The lawsuit reads like it was written by someone who has zero idea how technology works. There are valid points but a lot of it is junk and will not succeed.
The point of my reply is that there are things going on in corporate America that hit our pockets every single day and they are ignored. You do not have to buy a 1,000 dollar phone. You do need to feed yourself. You do need insurance for your vehicle or home. You need to pay rent. Etc etc etc. I do not see a luxury phone as the number one priority for a government that allegedly cares about its people.
I'm not saying it's number one priority. There are alot of things going on. But it seems important. Stoller lays it out.
https://www.thebignewsletter.com/p/why-the-apple-antitrust-suit-matters
What would it take to restructure the definition of a corporation to limit CEO pay and maximum profit on business deals to better serve the country?
Overcoming enormous resistnce, but a very useful thing. If you've been reading about Boeing, you can see how the optimization of profitability drove them to disregard all kinds of safety standards.
So the solution is to change the rules of the game for corporations to shift the profit horizon farther out, for one thing. There are ways to do this legislatively that I wish Reich would focus more on that might have a chance for passage in Congress. People decrying greed is tiresome.
Probably a revolution. It’s been getting worse since the Dem party sold their souls to the Corporate State (see Dem Leadership Council) with Bill Clinton. Then Citizens United and now a corporate SCOTUS. All 3 branches have sold out!
I don't think Biden has sold out. I think many Democratic senators and house reps have not sold their souls to the devil despite many institutional pressures to do that.
I agree!! Many, but not enough to get back to being party of the people, all the people!
Yes, what does it take to alter corporate charters generally. This is a state by state thing. In missouri such a debate could presently only result in even worse charters.