Inflation from Money Printing, Survival, or Greed?

I can't believe people on a trading board are talking about "corporate greed". Give me a break.

You don't think Walmart is trying to under cut everyone right now? It is the entire Walmart business model to undercut all competition. Hysterical that this use to be the exact argument against Walmart. Their "corporate greed" was pricing things too low.

Walmart loaf of bread that use to be a $1 last year is now $1.49 and they tried to keep it at $1 as long as they could.

The biggest problem with inflation is the amount of ignorance in our society when it comes to basic economics. It is just a matter of time before the populace gets what they ask for as far as bailouts and price controls that just makes inflation worse.

If you google average restaurant profit margin it says -5. I imagine that is pretty accurate that the average restaurant profit margin before the pandemic was 3-6% and now it is -5.
 
Cuddles said:
except competition does not mean they won't still gouge. Take your 7$ coffee cup as an example. The competition will only undercut the monopoly to still maximize profit. The question is why aren't we going to the 7$/cup place instead of starbux, the question is wtf is coffee 7$ to begin with.

We could be waiting decades before the spaceX of coffee shows up
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well then someone will sell coffee for $6. and then someone will find a cheaper supplier of good coffee and sell for $5. greed works. capitalism works. price discovery will take some time.
 
on a side note, it's interesting to see so much inflation in the US given the relentless rise of USD strength. that coffee from wherever should in dollar terms be cheaper. one might conclude that this should reduce inflation as imports are cheaper (i think shipping rates have also dropped). it does point a bit in the direction of opportunistic price increases to offset weaker earnings from a strong dollar.
 
Cuddles said:
except competition does not mean they won't still gouge. Take your 7$ coffee cup as an example. The competition will only undercut the monopoly to still maximize profit. The question is why aren't we going to the 7$/cup place instead of starbux, the question is wtf is coffee 7$ to begin with.

We could be waiting decades before the spaceX of coffee shows up
More...

It's called "personal preference" and "availability of options". The strawman of "OMG! The only choices are between $7 coffee and $8 coffee - THE SKY IS FALLING!" doesn't hold up.

There's a bunch of businesses - rental car companies, auto repair shops, real estate offices, high-end car washes - that usually have free coffee. With creamer and a range of sweeteners, even. I know of at least a couple of local greasy spoons that charge $1 for their coffee with endless refills, and even a friendly waitress to pour it for you. Even a slight bit of thought will tell you that options exist at intermediate prices, with reasonably fine granularity. Or you can go the other way and get a cup of Kopi Luwak, and pay $50-$100 for it. Those are the benefits of living in the first world, with a socioeconomic system that offers the greatest amount of value, in pretty much every shape and size, to suit the greatest majority.

"WTF is $7 coffee" has a very easy and obvious answer: for some people, the entire package (service, access options, flavor, whatever) provides enough value that they're perfectly happy to pay that much. If you're not one of those, you shouldn't buy it. If you're buying it, then complaining is... a rather embarrassing comment on your own ability to value things correctly, at the very least.

Of course, for some people, bitching about it is a way to virtue-signal - they have nothing useful to say, it's just peacocking for social credit. I find those cheap displays fairly amusing... sure, tasteless, but amusing nevertheless.
 
BlueWaterSailor said:
It's called "personal preference" and "availability of options". The strawman of "OMG! The only choices are between $7 coffee and $8 coffee - THE SKY IS FALLING!" doesn't hold up.

There's a bunch of businesses - rental car companies, auto repair shops, real estate offices, high-end car washes - that usually have free coffee. With creamer and a range of sweeteners, even. I know of at least a couple of local greasy spoons that charge $1 for their coffee with endless refills, and even a friendly waitress to pour it for you. Even a slight bit of thought will tell you that options exist at intermediate prices, with reasonably fine granularity. Or you can go the other way and get a cup of Kopi Luwak, and pay $50-$100 for it. Those are the benefits of living in the first world, with a socioeconomic system that offers the greatest amount of value, in pretty much every shape and size, to suit the greatest majority.

"WTF is $7 coffee" has a very easy and obvious answer: for some people, the entire package (service, access options, flavor, whatever) provides enough value that they're perfectly happy to pay that much. If you're not one of those, you shouldn't buy it. If you're buying it, then complaining is... a rather embarrassing comment on your own ability to value things correctly, at the very least.

Of course, for some people, bitching about it is a way to virtue-signal - they have nothing useful to say, it's just peacocking for social credit. I find those cheap displays fairly amusing... sure, tasteless, but amusing nevertheless.
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Shot of Cuban Coffee....98cents
 
ElCubano said:
Shot of Cuban Coffee....98cents
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Mmmm, love that stuff! We've got cafe Cubano all around here, but most people don't know how to do it right. I have - no lie - driven 25 minutes to this little cigar-and-coffee shop where the smell alone is worth money, just to get a cup. There are times when no substitute will do. :)

(I'm not going to be so crass as to argue about Puerto Rican vs. Cuban coffee with a man who calls himself "El Cubano" - but I spent several years living on a sailboat around there, and having a cup of coffee at a hacienda where it was grown while sitting on a balcony over a cloud-covered jungle is an experience that I treasure.)
 
BlueWaterSailor said:
It's called "personal preference" and "availability of options". The strawman of "OMG! The only choices are between $7 coffee and $8 coffee - THE SKY IS FALLING!" doesn't hold up.

There's a bunch of businesses - rental car companies, auto repair shops, real estate offices, high-end car washes - that usually have free coffee. With creamer and a range of sweeteners, even. I know of at least a couple of local greasy spoons that charge $1 for their coffee with endless refills, and even a friendly waitress to pour it for you. Even a slight bit of thought will tell you that options exist at intermediate prices, with reasonably fine granularity. Or you can go the other way and get a cup of Kopi Luwak, and pay $50-$100 for it. Those are the benefits of living in the first world, with a socioeconomic system that offers the greatest amount of value, in pretty much every shape and size, to suit the greatest majority.

"WTF is $7 coffee" has a very easy and obvious answer: for some people, the entire package (service, access options, flavor, whatever) provides enough value that they're perfectly happy to pay that much. If you're not one of those, you shouldn't buy it. If you're buying it, then complaining is... a rather embarrassing comment on your own ability to value things correctly, at the very least.

Of course, for some people, bitching about it is a way to virtue-signal - they have nothing useful to say, it's just peacocking for social credit. I find those cheap displays fairly amusing... sure, tasteless, but amusing nevertheless.
More...

take your 7$/coffee rant to the 8$/coffee guy, I'm just saying competition will undercut just enough from what people are already paying.
 
BlueWaterSailor said:
Mmmm, love that stuff! We've got cafe Cubano all around here, but most people don't know how to do it right. I have - no lie - driven 25 minutes to this little cigar-and-coffee shop where the smell alone is worth money, just to get a cup. There are times when no substitute will do. :)

(I'm not going to be so crass as to argue about Puerto Rican vs. Cuban coffee with a man who calls himself "El Cubano" - but I spent several years living on a sailboat around there, and having a cup of coffee at a hacienda where it was grown while sitting on a balcony over a cloud-covered jungle is an experience that I treasure.)
More...

Costa Rican coffee is good as well.
 
You can still find deals that are reasonable, there is no such thing as gouging in a free market. I supposed farmers are now 'gouging' you because grain prices went up, right?

Yes, there are some ridiculous prices, so I generally don't buy the item. Airport or hotel pricing for example, the government taxes the hell out of stuff there so I just don't buy it. One beer has always been $10-15 and many people will pay that price but I rarely do out of principle. Been at hotels with their $10 beers and $15 cheeseburgers, and then walked right across the street and bought a six pack and an in-and-out burger for a fraction of the cost. Always been this way.

Don't get me going on prices at an NFL game, fugging insane, and it partly goes to pay millionaire owners and athletes too
 
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