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Post by Papa on Apr 14, 2024 20:28:23 GMT
Well, I am no economist by any standard, but I do not think inflation just goes away. From what I remember and what I even read in non-partisan and conservative articles is that inflation had been in a steady decline since around last summer and into 2024. In February 2024 and March 2024, it started rising, again.
Does that mean it needs another adjustment of some kind? I don’t know.
srossi and KGB may have interesting takes on this.
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Post by beejmi on Apr 14, 2024 20:48:51 GMT
I'm interested in your 'bacon stats' by the way
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Post by Papa on Apr 14, 2024 21:30:34 GMT
The article I read I believe is now under a Forbes pay site, but I captured this from April 9, 2024.
The lawsuit alleges that Hormel, along with other major U.S. pork producers Smithfield Foods, JBS USA, Clemens Food Group, Hormel Foods, Seaboard Foods, Triumph Foods, Tyson Foods, and Agri Stats Inc. conspired to constrain the supply, and fix the price, of pork beginning in at least 2009.
The indirect purchasers allege the “conspiracy” was coordinated through Agri Stats “by providing highly sensitive ‘benchmarking’ reports to most pork integrators, thereby allowing competitors to compare their profits or performance against that of other companies.” The effect of this anti-competitive exchange of non-public information allegedly allowed pork integrators to control the supply and price of pork, the document adds.
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Post by Papa on Apr 14, 2024 21:36:17 GMT
I think you may see similar lawsuits over the next few years, and do not forget, this is just the wholesalers. The grocery chains, including Walmart, are under scrutiny for banding together to raise prices. Everybody wanted to take advantage of the “inflation”. A perfect cover.
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Post by stone2k on Apr 14, 2024 22:01:01 GMT
I believe it started with many states raising the minimum wage...how everone didnt see the businesses raising their prices because they were paying almost double the wages is kinda bonkers to me.
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Post by Quattro on Apr 14, 2024 22:37:13 GMT
It was a confluence of multiple factors.
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Post by Superstar on Apr 15, 2024 14:33:21 GMT
Isn't EVERYTHING Tony Khan's fault?
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Post by srossi on Apr 15, 2024 14:38:18 GMT
Isn't EVERYTHING Tony Khan's fault? Prices are jumping like spot monkeys! No storytelling whatsoever.
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Post by Superstar on Apr 15, 2024 15:13:43 GMT
Isn't EVERYTHING Tony Khan's fault? Prices are jumping like spot monkeys! No storytelling whatsoever. I also heard that the Fed is going to be dropping rates...through a plate glass window. It's real glass...cry me a river.
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Post by Sexy Tom on Apr 15, 2024 15:32:15 GMT
It was a confluence of multiple factors. I agree. Needless spending and ruining the energy sector.
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Post by principalraditch on Apr 15, 2024 23:38:25 GMT
Eh, who cares. I'm getting 5% on bonds now. I was lucky to see 1% during Trumps run. The fed having to jack up and maintain the benchmark rate is the best thing that could have happened to anyone with cash on hand, especially in larger denominations. I'll take an extra 40k guaranteed a year vs increased costs for bananas
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Post by Quattro on Apr 16, 2024 3:15:09 GMT
Eh, who cares. I'm getting 5% on bonds now. I was lucky to see 1% during Trumps run. The fed having to jack up and maintain the benchmark rate is the best thing that could have happened to anyone with cash on hand, especially in larger denominations. I'll take an extra 40k guaranteed a year vs increased costs for bananas Give me a 5 to 5.5% 10 year or 20 year and i might go all in. 6% will almost be a no brainer.
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Post by beejmi on Apr 16, 2024 22:01:06 GMT
I think you may see similar lawsuits over the next few years, and do not forget, this is just the wholesalers. The grocery chains, including Walmart, are under scrutiny for banding together to raise prices. Everybody wanted to take advantage of the “inflation”. A perfect cover. Very interesting. Makes more sense now.
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Post by Papa on Apr 17, 2024 2:10:42 GMT
I think you may see similar lawsuits over the next few years, and do not forget, this is just the wholesalers. The grocery chains, including Walmart, are under scrutiny for banding together to raise prices. Everybody wanted to take advantage of the “inflation”. A perfect cover. Very interesting. Makes more sense now. The pork giants (LOL) lost their lawsuit. This is from 04/11/24 Hormel Foods will pay more than $11 million to settle class-action lawsuits alleging the company worked with other pork producers to illegally fix prices and overcharge customers, according to court records.
The proposed settlements, filed in federal court in Minneapolis last week, will see the Austin, Minn.-based food company end the litigation without admitting fault.
Hormel will pay $2.4 million to institutional customers like restaurants and delis; $4.8 million to wholesalers and other direct purchasers; and $4.4 million to consumers, if a federal judge approves the agreements.
The deal "provides compensation that will be available years earlier than if litigation against Hormel Foods continued through trial and appeal," according to one of the settlements.
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Post by Papa on Apr 17, 2024 2:15:12 GMT
This article is a recent one about the supermarket giants and possible gouging. Click here for USA Today article Connecticut looks to be the first state to take on the supermarkets. Other states are watching. There seems to be so many levels with these prices.
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