![]() Instead they blame allegedly evil corporations like McDonalds and Walmart.Īctually, the world needs more Walmarts. People do not blame the Fed, nor do they blame economic illiterates like Pritchard. Hardly anyone ever points out the fact that wages have not kept up with inflation precisely because the Fed has done exactly what Pritchard wants. People want $15 an hour for standing behind a cash register and handing you a sack of the worst food money can buy. Force prices higher and the more it takes to keep up with them. Of course “living wages” are a moving target. As a result, people now bitch and moan about “living wages”. Pritchard’s solution is the same as that of many charlatans before him: Force prices up. In other words, people buy when bargains are many and stop buying when bargains are few. People continue to upgrade TVs, computers, monitors as they wear out, or simply because prices are lower and quality is up since they last bought. Every Christmas, shoppers line up for bargains. They have to heat their homes.īut there is also no evidence consumers will hold off for long on discretionary spending either. They have to buy clothes when they wear out. They have to buy gasoline for their cars. Pritchard clings to the centrally bad idea that falling consumer prices will cause consumers to perpetually delay purchases. The only way France cannot “ kowtow to the contraction polices of the eurozone” is if France leaves the eurozone. Pritchard knows full well France is bound by eurozone policies. Pritchard complains “ French President François Hollande must now pay the price for kowtowing to the contraction polices of the eurozone.“ He ignores the fact that falling consumer prices do not stop consumers from buying anything. He ignores the fact that consumers desperately need falling prices. He ignores the fact that QE did not bring inflation to Japan. Pritchard ignores the fact that equity prices are back in bubble land. The European Central Bank can lift the entire EMU system off the reefs by launching a monetary blitz to meet its own M3 growth target of 4.5pc.“ We’ve called out the Big Four for manipulating the market and price-gouging consumers, all while reaping record profits during the pandemic and other disruptions like the Holcomb Plant fire.Pritchard bemoans the horrors of falling prices and says “ There is a technical solution to this. The Big Four collectively process about 85% of fed cattle nationally. ![]() Sustainable Beef was founded by a coalition of independent cattle feeders and ranchers who were rightfully concerned about market access through the packer-controlled industry, which is dominated by the “Big Four:” Cargill, JBS, Marfrig, and Tyson. Walmart, like any monopolistic corporation, is primarily concerned with amassing profit and power at the expense of everyone else, and this investment provides them with another opportunity to tighten their grip on the food supply chain. However, we’re wary of recent news that Walmart has bought into the company, with their investment enabling construction to begin this month. Sustainable Beef, a new beef processing plant in Nebraska, has taken the brave and commendable step to create a market opportunity for themselves, and hopefully open the door for more competition in the highly-consolidated meatpacking industry. ![]()
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