Price Gouging Is The Name Of The Game. . .

Inflation or Price Gouging?

Let's make sure what we're being told is the whole truth

Corporate Greed is Alive and Well in America

The Insider story by Dominick Reuter reports that consumer products companies reported third-quarter earnings in recent weeks, several have appeared to brag about their ability to reach into your wallet without scaring you off.

"What we are very good at is pricing,: Colgate-Palmolive CEO Noel Wallace said. "Whether it's foreign exchange inflation or raw and packing material inflation, we have found ways over time to recover that in our margin line."

Unilever, which owns a staggering number of household brands, reported that while the number of sales dipped slightly across several of its major segments, it was still able to grow profits by raising prices by roughly 4% - 5%.

"Consumer-facing price is the last lever we normally use to manage inflation," Unilever CFO Graeme Pitkethly said before describing how they did it: "We find that taking several small price increases is more effective than one large price jump."

"We've been very comfortable with our ability to pass on the increases that we've seen a this point," Kroger CFL Gary Millerchip said. "And we would expect that to continue to be the case."

Fortune reports that "top Democrats are ripping corporations for price gouging. Executives brazenly boast to investors about raising prices." 

A pack of 50 Kimberly-Clark N95 masks cost $2,319 in October 2021. By mid-January, the same box of masks cost $5,715, according to the Groundwork Collaborative, a left-leaning activist group focused on economic issues.

Lawmakers say it's price-gouging. And it's not just happening in pandemic-related supplies. The cost of diapers, food and even drugs has skyrocketed dramatically in recent months as corporations have increased prices and maintained healthy profit margins, according to Democrats in Congress who conducted a hearing on pricing on Wednesday.

"Corporate greed is motivating large companies to use the pandemic and supply chair issues as an excuse to raise prices simply because they can. And a lot of executives brazenly boast to investors about raising prices on consumers with consequences - and these executives are saying they're going to continue doing so," House Energy and Commerce committee chairman Rep. Frank Pallone (D-N.J.) said during Wednesday's hearing.

We know what is going on and we still sit quietly by and soak up the "terrible inflation rate caused of Biden" as the gospel truth like good little sponges. 

 Comes the revolution!

Pay attention, people