Following the devastating Los Angeles wildfires, landlords are illegally increasing rental prices, exploiting displaced residents. This price gouging, violating California’s anti-price gouging laws, sees landlords demanding thousands of dollars over asking prices. Real estate broker Jason Oppenheim reports firsthand accounts of this exploitation, highlighting the vulnerability of fire victims amidst already inflated rental markets. California’s Attorney General has warned that such actions are criminal offenses, punishable by jail time and fines.
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A US court recently blocked Kroger’s proposed $25 billion acquisition of its grocery rival, Albertsons. This decision has been met with widespread relief, particularly among consumers concerned about the potential for increased prices and reduced competition. The fear was that a Kroger-Albertsons merger would create a near-monopoly in many markets, leaving consumers with fewer choices and less leverage to negotiate prices. This concern is particularly relevant in areas where Kroger already holds a significant market share, such as the Milwaukee metro area, where the company controls roughly two-thirds of the grocery stores.
The potential for price gouging was a major point of contention.… Continue reading
As someone who has felt the pinch of rising prices, the recent news of Target lowering prices on about 5,000 basic goods due to inflation cutting into budgets comes as a relief. It’s both frustrating and eye-opening to see how many retailers have been overinflating their prices out of pure greed, only to backtrack when consumers start looking elsewhere. The fact that Aldi has already taken the initiative to lower prices on items like tuna and chocolate bars demonstrates that it is possible for companies to make these adjustments.
It’s interesting to note that many of these retailers, including Target, are now switching to lower-cost discount brands to cater to customers who are struggling with higher prices for groceries.… Continue reading
As someone who has felt the pinch of rising prices, the news of Biden forming a ‘strike force’ to tackle price-gouging is a welcome relief. The fact that gas companies were raking in record profits while consumers were paying through the nose for fuel is simply unacceptable. It’s time someone stepped in to address these disparities and hold companies accountable for their actions.
One key point that resonates with me is the suggestion to check corporate profit margins and prioritize those companies that have seen significant increases without any tangible improvements in their products or processes. This targeted approach could help rein in those who are taking advantage of consumers and engaging in unethical practices to boost their bottom line.… Continue reading
Corporate greed is a term that is increasingly being recognized as a major cause of inflation, and it’s about time. The fact that 53% of the inflation was due to COVID-19 price-gouging is not surprising, considering the record-breaking profits that corporations have been boasting about. The stock market reaching all-time highs, while every good and service has increased in price, is a clear indicator that something is amiss.
As someone who works for a telecommunications company, I can firsthand witness the economic adjustment charges that are being added to customers’ bills, despite the fact that these have nothing to do with inflation.… Continue reading
Biden Calls on Snack Companies to Stop Shrinkflation Ahead of Super Bowl
The issue of shrinkflation has been a point of concern for many consumers, and President Biden’s recent call on snack companies to address this problem is a step in the right direction. As a consumer myself, I have noticed the significant increase in prices for everyday snack items like chips and candies, while the quantity inside the packages has decreased significantly.
It is frustrating to see the price of a bag of Doritos, for example, double in just a few years. Back in 2005, a big bag of Lays BBQ and a Sour Cream & Onion one could be purchased together for just $3.… Continue reading
Half of recent US inflation is due to high corporate profits, according to a recent report. This finding reinforces what many of us have suspected for a long time—that unchecked corporate power and greed are major contributors to rising prices and the financial burden placed on everyday Americans. It’s time we address this issue head-on and demand that our government take action to reign in price gouging and protect consumers.
In our current economic landscape, where competition is often non-existent and collusion among corporations is a common practice, it’s no wonder that prices continue to soar. The government has failed to regulate industries effectively, allowing corporations to dictate prices without any consideration for the well-being of the people they serve.… Continue reading
John Q. Hosedrinker 
Matt Underwood