Letter: Inflation and corporate greed
Under the elucidation of my second martini (vodka straight up, ice cold with a twist thank you!) I had what can only be called an epiphany. As a part of my stringent physical fitness protocols and regimen, I stopped at City Market for a chocolate donut. I had to be resuscitated! Eighty-nine cents as in $0.89 for a donut.
It was 69 cents ($0.69) the last time I ventured into my favorite store.
I got out my calculator and ran the numbers. A 28.9 % increase since my last trip to the Vail Valley in October.
Today’s rate of inflation according to my Google Machine is 9.06%.
What is going on here? Supply chain issues, Producer Price Index, farmers (I am one), China, the war, wholesalers etc. etc.
Support Local Journalism
Nope! Pure and simple corporate greed and gouging … and opportunism. I think we all know that don’t we? Yes we do! Dig into and parse corporate 10-Qs and 10-Ks (corporate reports required by the Securities and Exchange Commission quarterly and annually) and you will find most U.S. corporations are doing just fine. Very well actually.
The solution? We should all walk more and eat less. The benefits will be a change in the elasticity of the demand curve for gas and heating oil (less expensive) and less obesity (less type 2 diabetes) and cheaper prices at the grocery store.
We are being ripped off. We are being stiffed. Corporate greed and gouging.
Wright B. George