Current Events > "Inflation" oh you mean greed ?

(+) Yeah! (+)

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Did you get a really good raise this year?

Did you ever take a microeconomics class? Companies ALWAYS set their prices to maximize profit according to the supply/demand curve.

Percentage increases are always extremely misleading if you are trying to push an agenda. Huh, we just came out of a pandemic where everyone stayed at home in 2020. So oil companies made 60% comps in 2021? No shit, sherlock.

EDIT: Oh, and to answer your question at the end. NO I did not get a good raise this year. In fact, people are leaving in droves at my company and turning around and making 10% more, at least, by jumping to other companies doing the same work. Whats funny is my company was patting itself on the back by how virtuous they were by giving us an extra $1 an hour while they were raking in record profits. I don't really care though because I'm making a ton of money putting in overtime every week since we are short staffed. I'm not necessarily working any harder either.

Replace common sentences where people use the word inflation with greed.

"If you don't get a 6% raise, you have got a paycut due to Greed."

"Biden and all those stimulus is really increasing Greed."

"Greed is up since the pandemic."

"Better invest your money so it can outpace Greed."

If only we had pitchforks.

kelemvor posted...

Did you ever take a microeconomics class? Companies ALWAYS set their prices to maximize profit according to the supply/demand curve.

Last time I made similar thread to this people said "that is so obvious! everyone knows it is greed!"

well, here you are

lol

Companies made more in 2021 than during a year where everyone had to stay home?! Big news. Guess inflation isn't real.

WingsOfGood posted...

Last time I made similar thread to this people said "that is so obvious! everyone knows it is greed!"

well, here you are

lol

I mean, we aren't wrong.

I got a 20 percent raise.

BilalPowell posted...

Companies made more in 2021 than during a year where everyone had to stay home?! Big news. Guess inflation isn't real.

Oh so short sighted and eyes veiled by deceit

https://www.barrons.com/articles/things-to-know-today-51644401867

The fast-food chain had a better-than-expected fourth quarter after price increases were the order of the day. The company hiked menu prices by 4% in December, citing commodity inflation elevating beef and freight costs, and, to a lesser extent, avocado. That helped it serve up same-store sales growth of 15.2% in the quarter.

The full benefit of that price rise will be felt in the current quarter, but it highlights Chipotles ability to pass cost increases on to consumers. CEO Brian Niccol said the restaurants prices were around 10% higher than a year ago, adding that further increases could come if elevated costs dont abate. Weve got a lot of pricing power, he told analysts.

@BilalPowell

2020 was actually a good year for fast food. Chickfila did REALLY well in 2020.

Turns out, so did Chipotle. Your premise that their business was down during the pandemic is actually false.

Why then, would you try to argue that? Some innate part of your brain has to somehow defend corporate greed? huh
HUH

https://ir.chipotle.com/2021-02-02-Chipotle-Announces-Fourth-Quarter-And-Full-Year-2020-Results

Full year 2020 highlights, year over year:
Total revenue increased 7.1% to $6.0 billion
Comparable restaurant sales increased 1.8%
Digital sales grew 174.1% and accounted for 46.2% of sales
Restaurant level operating margin was 17.4%, a decrease of 310 bps
Diluted earnings per share was $12.52, which included an income tax benefit of $3.79, partially offset by a $2.00 after-tax impact from expenses related to legal, corporate restructuring, restaurant closure costs, and certain other costs, a 1.1% increase from $12.38. Adjusted diluted earnings per share excluding these charges and the income tax benefit was $10.73, a 23.6% decrease from $14.05.1
Opened 161 new restaurants including six relocations, and closed nine

Here's the thing though. They aren't going to charge more money for a chicken sandwich or burrito than customers are willing to pay. No one is being forced to buy Chik-Fil-A or Chipotle. They could go to Taco Bell or better yet, cook at home.

People aren't shying away from $8 or $9 lunches at fast food restaurants anymore because they are making more money. We are just watching inflation happen in slow motion. And yes, wages kind of lag behind. Which is why it's a good thing to keep your resume ready and look around at other jobs if you are living paycheck to paycheck.

kelemvor posted...

Here's the thing though. They aren't going to charge more money for a chicken sandwich or burrito than customers are willing to pay. No one is being forced to buy Chik-Fil-A or Chipotle. They could go to Taco Bell or better yet, cook at home.

Their business may go down but then they will just find and external blame for it like that one guy tried to say the pandemic is why Chipotle business was down when hilariously it was actually up during the pandemic.
Because greed.

Price stickiness is a concept you learn in high school Economics: https://www.investopedia.com/terms/p/price_stickiness.asp
Basically, in some markets costs go up, prices go up more. Costs go down, prices stay the same (sticky-up). McDonald's is usually very reluctant to raise prices, but when given an excuse ("Hey, there's inflation, sorry, not out fault,") they take it. Higher prices means higher margins. Later, prices of shipping and meat go down, but McD's customers are already used to new prices and no one else is competing for bottom-dollar burgers, so even better margins and more room to expand.

Also, the McDonald's app is pretty sick. It saves like 20% on every order.

ChocoboMog123 posted...

Price stickiness is a concept you learn in high school Economics: https://www.investopedia.com/terms/p/price_stickiness.asp
Basically, in some markets costs go up, prices go up more. Costs go down, prices stay the same (sticky-up). McDonald's is usually very reluctant to raise prices, but when given an excuse ("Hey, there's inflation, sorry, not out fault,") they take it. Higher prices means higher margins. Later, prices of shipping and meat go down, but McD's customers are already used to new prices and no one else is competing for bottom-dollar burgers, so even better margins and more room to expand.

Also, the McDonald's app is pretty sick. It saves like 20% on every order.

Have you heard of wage stickiness as well?
Companies are arguing wages increase inflation and they are reluctant to give them. hahahaha

WingsOfGood posted...

Have you heard of wage stickiness as well?
Companies are arguing wages increase inflation and they are reluctant to give them. hahahaha

Wages are usually thought to be sticky-down. They move up easily, but not downwards. Companies would rather cut jobs before they lower wages.
But, I remember arguing on GameFAQs about a $15/hr minimum wage by 2020. Now it's 2022 and it sure as hell seems like we should've implemented that with a tie to inflation...

We're stuck in the capitalism timeline matrix

kelemvor posted...

Did you ever take a microeconomics class?

Clearly he has not

[LFAQs-redacted-quote]


oh you mean that thread were you had a meltdown and multiple users called you out on it?

And minimum wage has been stuck at $7.25 for what, 12 years?

[LFAQs-redacted-quote]


I claimed nothing. The article and the interview with the president is who claimed the price increase is why they had 59% increase.
Yet you continue to argue against them?

Maybe go back to school.

Chipotle has 26% profit increase

raised prices 4%

https://www.barrons.com/articles/things-to-know-today-51644401867

The fast-food chain had a better-than-expected fourth quarter after price increases were the order of the day. The company hiked menu prices by 4% in December, citing commodity inflation elevating beef and freight costs, and, to a lesser extent, avocado. That helped it serve up same-store sales growth of 15.2% in the quarter.

The full benefit of that price rise will be felt in the current quarter, but it highlights Chipotles ability to pass cost increases on to consumers. CEO Brian Niccol said the restaurants prices were around 10% higher than a year ago, adding that further increases could come if elevated costs dont abate. Weve got a lot of pricing power, he told analysts.

TyVulpine posted...

And minimum wage has been stuck at $7.25 for what, 12 years?

talk about STICKY