The price of Huggies diapers went up 6% between April- June 2023. Inflation, right? Wrong. Kimberly-Clark, the maker of Huggies, reported that the cost to make its products fell by $75 million. They took the money and ran, banking $168 million in operating profits in Q3 2023. - ThreadSky

rbreich.bsky.social • 401 days ago

The price of Huggies diapers went up 6% between April- June 2023.

Inflation, right? Wrong.

Kimberly-Clark, the maker of Huggies, reported that the cost to make its products fell by $75 million. They took the money and ran, banking $168 million in operating profits in Q3 2023.

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daniel12345.bsky.social•401 days ago

daniel12345.bsky.social•401 days ago

https://bsky.app/profile/soumayakeynes.bsky.social/post/3keezcrhqv32g

jarda.bsky.social•401 days ago

Trump could base his next money begging campaign on this. His supporters surely don't want to see him walking with his shoes full of crap and squelching.

elibisme.bsky.social•401 days ago

Shame on them.

jdk23.bsky.social•401 days ago

This is the standard marketing playbook of corporate America, that and altering packaging to give you less for the same price or more if they really want to give you the finger

nohbodhi.bsky.social•401 days ago

Our system is based on greed.

bargdaffy.bsky.social•401 days ago

Putin must have done it. Putin is like God, he is everywhere all the Time. https://youtu.be/_U66OOknQ6E?si=ayyvkAEpR43vXqxX

passeriform.bsky.social•401 days ago

Nationalizing diapers and formula seems like an idea.

orionkidder.bsky.social•401 days ago

I'm increasingly of the opinion that that *is* inflation, in our era: centralized, oligopolies charging as much as they can get away with. Their costs are secondary to the question at best.

echosedai.bsky.social•401 days ago

it’s what the market wants

orionkidder.bsky.social•401 days ago

Sure, "the market" = the ultra-rich.

echosedai.bsky.social•401 days ago

as it was foretold so shall it ever be, trickle down bs for you and me

deloreanqc.bsky.social•401 days ago

No wonder Donald is so upset theses days

usmc.bsky.social•401 days ago

It’s all big companies then.
Get rid of your iPhone and use that flip phone as I don’t have to hear about your redundancy

evodaily.bsky.social•401 days ago

I think it's just starting to sink in with intelligent people that Corporations with their economist shills have been actively engaging in Greedflation at least since the pandemic hit. More so than their usual gouging. Trickle down created this greed monster https://www.theguardian.com/business/2024/jan/19/us-inflation-caused-by-corporate-profits

vivalavoices.bsky.social•363 days ago

So, price-gouging corporations...

sheadapts.bsky.social•401 days ago

Mr. Reich, you may be able to check this for accuracy. I feel like it's spot on, but IDK. TY.
https://bsky.app/profile/rocksizedrock.bsky.social/post/3kk2zvua6se2m

sanmarcos.bsky.social•401 days ago

Companies will charge what people will pay. Market is the most important thing controlling prices.

beefreeferlives.bsky.social•400 days ago

Allen Rivas, age 20, Texas, Died May 11, 2018 — Allen received Supplemental Security Income (SSI) as a youth, but was denied this benefit once he became an adult. He rationed his insulin and and then turned to Walmart insulin when he couldn’t afford more. He died in front of his mother.

sanmarcos.bsky.social•400 days ago

😢 so much need that only the government can help enough

beefreeferlives.bsky.social•400 days ago

Jada Renee Louis, age 24, Virginia — A type 1 diabetic since age 7, Jada Louis found herself faced with a terrible choice this year – pay her rent or pay the $300 cost of insulin.
Died June 22nd 2019

Ah, yes, "the invisible hand" strangles another poor.

sanmarcos.bsky.social•400 days ago

Capping the price was one of the best things the Biden admin has done.

beefreeferlives.bsky.social•400 days ago

SURE WAS!! However, that cap (as well as all regulation) is in direct violation of Adam Smith's invisible hand and free market principles.

Perhaps "the market" is wrong, cruel, and just plain greedy at times and needs to be curtailed.

sanmarcos.bsky.social•400 days ago

The worst thing about America is the greed of many of its people. Greed has grown rampantly in the last 30 years. It's like the Gordon Gekko 1987 quote that Greed is good made it okay to be greedy beyond reason. "Wall Street" is what we're talking about -- hurting little guys with greed.

beefreeferlives.bsky.social•400 days ago

Yup! Agree completely. Unfortunately, the Gordon Gekko's & Martin Shkreli's of the world have Adam Smith & Milton Freidman quotes to cherry pick and use as a shield to justify their greed and deflect from the harm they do to the powerless.

nachodisk.bsky.social•401 days ago

But Bob, Reginald Beauregard Clark III needed the extra money for a new yacht, he’s been saving up since April.

rbreich.bsky.social•401 days ago

Now, new research shows that corporate profits drove 53% of inflation during the 2nd and 3rd quarters of 2023. During the 40 years prior to the pandemic, profits drove just 11% of price growth.

News flash: Corporations used "inflation" as cover to squeeze more money out of you."

guttersharp.bsky.social•401 days ago

Greed is not a family value, but seems to be a corporate one.

laikax.bsky.social•398 days ago

And they have the cheek, along with govts, to claim our wages fuelled "their" inflation. A long string of expletives would not cover what I'd like to do to these greed pustules.

secretoriginz.bsky.social•401 days ago

The question is...how can we create a legal distinction between legitimate inflation & corporate greedflation so that the media would be as wary of mischaracterizing the latter as the former as they would of failing to describe crimes as alleged before there's a conviction?

icancheckyourhead.bsky.social•401 days ago

They likely also have research units that are focused on birth rates VS cost. They are likely baking in the next 10 years of losses in a money grab now. The real question is will they continue to do it ever year since they got away with it this time? Capitalism can't seem to self police these days.

sheadapts.bsky.social•401 days ago

That's an alluring idea.
Consequences for false information. I'm feeling an Old West vibe right now.
(Bad Joy. Very bad Joy.)

thomasav.bsky.social•401 days ago

So glad Biden passed those price control measures and windfall tax bills.
...What's that?

auriette.bsky.social•401 days ago

Love your YouTube videos, Mr. Reich. Can you tell me where I could find this research? I'm a journalist interested in reporting it .

bigdilemma.bsky.social•401 days ago

I googled it for you

https://fortune.com/2024/01/20/inflation-greedflation-consumer-price-index-producer-price-index-corporate-profit/

godlesscommie.bsky.social•401 days ago

You Googled a paywall

bigdilemma.bsky.social•400 days ago

Cool!

auriette.bsky.social•400 days ago

Thanks!

riannejar.bsky.social•401 days ago

Is it a 'news flash,' professor? Capitalism has neither ethics nor any "moral" code

persiflage.bsky.social•401 days ago

Bastards.

outfreyn.bsky.social•401 days ago

Any sources to back this up?

beefreeferlives.bsky.social•400 days ago

"The report, compiled by the progressive Groundwork Collaborative thinktank, found corporate profits accounted for about 53% of inflation during last year’s second and third quarters. Profits drove just 11% of price growth in the 40 years prior to the pandemic, according to the report."

party-on.bsky.social•401 days ago

They didn’t ‘run’ anywhere. They’re at work today doing it again.

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