jeanne5082 on TwitterNov 20, 2022
Robert Reich

Why are food prices continuing to increase?

The four largest food companies control 82 percent of beef packing, 85 percent of soybean processing, 63 percent of pork packing, and 53 percent of chicken processing.

Corporations are raising prices because they can.

Nov 19, 2022 at 9:50pmWeb
Show threadGreg StocktonNov 19, 2022
@rbreich Allowing companies to merge, allows them to eliminate inefficiencies, and efficiently scale production, and those price increases are passed along to consumers. Wait...
Show threadJKChicagoNov 19, 2022

@rstockto @rbreich It also allows them go grow wealth and influence politics and law, through lobbyists, influencing FDA regulations, etc.

I'm not sure if this was meant to be a joke, as eliminating inefficiencies and efficiciently scalling production would seem to cause price decreases, not increases. Apologies if I'm just being slow 😀

Show threadGreg StocktonNov 20, 2022

@JKChicago @rbreich yes, it was a joke, starting off with what I hear before literally every super merger, and ending up where it actually goes.

Not to be outdone, AT&T gets bonus points for "Oh, we knew we'd never do THOSE commitments, but if you let us complete this new merger, everything will be glorious with 10GB connections to every rural address. Really, we promise."

Show threadRoxanne MagnusonNov 20, 2022
@rstockto @JKChicago @rbreich That’s one of the main reasons to attempt to shop at a smaller locally owned grocery store. And farmer’s markets.
Show threadChookMother 🇦🇺🦘Nov 19, 2022

@rstockto

Some bright spark told me once that we have to have massive broadacre farming because that's the only way to supply the world's needs.

I was trying to say that many, smaller farms is better than a massive crop in one area being lost to weather disasters.

People who don't study history have no perspective. How does he think humanity survived all those millenia before broadacre farming?

#FoodSecurity #ClimateDisaster

Show threadNatanael ⚠️Nov 20, 2022
@anne_twain @rstockto monoculture farming is probably one of the biggest causes of famine
Show threadTakingOffNov 20, 2022
@rstockto @rbreich Wait? You write this as if this is the first time ever that mergers have taken place. You also write this as if you are unaware of the economics of monopoly, which leads to higher prices, lower quality, and lower supply.
Show threadMary M. RedouteyNov 20, 2022
@rstockto @rbreich The formation of monopolies typically leads to fewer product choices and usually to eventual higher prices for consumers and mostly to worse conditions for workers.
Sadly the break up of monopolies also can harm customers and workers if the companies that are later formed have even less respect for consumers and workers... Regulations are needed to protect both workers and consumers from both monopolies and smaller companies.
Show threadenigmajx #FBPE #FBPPRNov 19, 2022
@rbreich
Corporations profiteering? 😲
Show threadLigia MorrisNov 19, 2022
@rbreich trying to break democracy. Unseat Democrats so they can continue not paying taxes.
Show threadColin CurtinNov 19, 2022
@rbreich and will continue to do so until total revenue is reduced
Show threadZhi ZhuNov 19, 2022

@rbreich

Several rich corporations are using the GOP's over-hyped "inflation fears" as a cover for raising their prices & their profits.

It's NOT inflation.

It's GREED.

They hoped no one would notice that the "inflation" excuse was a LIE.

Well, someone noticed.

Show threadMJonesNov 19, 2022

@rbreich Watching lettuce climb past five bucks a head when I know for a fact there is no 'shortage'--they are grown hydroponically and are thus available year round.

It's a cash grab. I'm fighting back with a greenhouse in my basement. Everyone has one now that Canada legalized it--might as well expand the salad.

Show threadAndrei GoldfainNov 19, 2022
@MJones @rbreich it's a little bit both I think. We have legit inflation and then the corporate world capitalizing on it w price gouging
Show threadTakingOffNov 20, 2022
@MJones @rbreich What percentage of lettuce is grown hydroponically? I think it's an insignificantly small percentage.
Show threadMJonesNov 20, 2022

@TakingOff @rbreich
Google Ontario hydroponic head lettuce. It's how it's grown here.

Source: Actual farmers I know.

Show threadSlythrahNov 19, 2022
@rbreich
This guy controls my chicken processing. 😂
Show threadedrdzjzNov 19, 2022
@Slythrah @rbreich He’s exactly as my Claudio.
Show threadedrdzjzNov 20, 2022
@Slythrah
Here he is…
Show threadaudioflyer79Nov 19, 2022
@rbreich reason #7M to #govegan
Show threadb3nNov 19, 2022
@rbreich the "conventional" farming practice of dumping copious petroleum derived fertilizer and pesticides may have a role too ... farmers real costs have 2x this past year
Show threadRS Garner IIINov 19, 2022
@rbreich One thing I noticed recently getting ready for the holidays is that cake mix boxes contain a few ounces less, and they cost more .
I always make my rum cake this time of year and can usually get cake mix around $.99 around the holidays . Mix was $1.50 - $1.88 today. I hate to think about what the Rum is going to cost when I make it to the liquor store. .
Show threadConor MolloyNov 19, 2022
@rbreich Ripe for disruption ? Lab grown meats. https://www.cnbc.com/2022/11/17/fda-says-lab-grown-meat-is-safe-for-human-consumption.html
FDA says lab-grown meat is safe for human consumption

The FDA cleared Upside Foods to use animal cell culture technology to take living cells from chickens and produce cultured animal cell food.

CNBC
Show threadSharon LeeNov 19, 2022
@rbreich so true. Big companies can mark the prices as they wish.
Show threaddcobbNov 19, 2022
@rbreich All the more reason to oppose Kroger's attempt to purchase Safeway/Albertson's. Thankfully multiple AGs have sued over the matter on antitrust grounds.
Show threadChristine DantzNov 19, 2022
@rbreich That's what I can understand. But we need to buy food. So, what's the answer?
Show threadBc Clarity Carlton-MartinNov 19, 2022
@rbreich How long until the "Big Four" become the ONE?
Show threadYugenNov 19, 2022
@rbreich We got a quote for the cost of oil to heat our home for one month for 100 gallons. $800. Last year, $350.
Show threadMorganaNov 19, 2022
@rbreich Ah yes, the benefits of the capitalist/free market economy…….the efficiency of amalgamation….
Show threadSam LawtonNov 19, 2022
@rbreich Upton Sinclair's The Jungle
Show threadCnotoWANov 19, 2022
@rbreich
Glad you said that. Absolutely agree. When their profits go to a 5%, then they can complain.
Show threadJKChicagoNov 19, 2022
@rbreich Also, if you think about this in relation to the baby formula supply issues earlier this year, concentrating so much production with 4 suppliers seems to be not such a great idea.
Show threadLil O’MeNov 19, 2022
@rbreich Corporations are raising prices in anticipation of having to pay taxes, and to try to keep Democrats out of power
Show threadMK MeadowsNov 19, 2022
@rbreich Thank you for continuing to draw attention to the control of corporations. The ever increasing collaboration and monopolizing of whole segments of the economy, media, and politics is world wide.. Fascism incarnate. Monsanto has been at it for years.. https://www.vanityfair.com/news/2008/05/monsanto200805
Monsanto’s Cruel, and Dangerous, Monopolization on American Farming

Monsanto dominates America’s food chain with ruthless tactics. Even worse, the company has a decades-long history of toxic contamination.

Vanity Fair
Show threadRonnie HodesNov 19, 2022
@rbreich that IS the reason the prices are rising!!!!!
Show threadBMFNov 19, 2022
@rbreich love the figures but can you include the company's names? It would help for citing this to my circle
Show threadMandaNov 19, 2022
@rbreich
Show threadJimmyDNov 19, 2022
@rbreich in this increasingly stressed and interdependent world, the economic paradigm has to be changed. Lassez faire capitalism does not benefit the masses.
Show threadSeeMeESPNov 19, 2022
@rbreich Eat vegan as much as possible; buy food locally as much as possible. 🥗👩🏽‍🌾
Show threadJessicaNov 19, 2022
@rbreich Whilst no President, Prime Minister or Government alone can reduce inflation, working together they can eg if all Countries said they will Create a super profits tax if Oil companies, Shipping containers suppliers etc do not stop price gouging Inflation would drop
Show threadJMJNov 19, 2022
@rbreich
Opportunity
Show threadAndy_RogersNov 19, 2022
@rbreich same in Canada. Grocery stores making record profits but blaming it on suppliers. We need a federal inquiry into gouging.
Show threadwpadmirerNov 20, 2022

@rbreich

The price of oil dropped, but gasoline did not.

Show thread%70%61%75%6CNov 20, 2022
@wpadmirer @rbreich oh isn't monopoly wonderful ...
Show threadMichelineNov 20, 2022
@rbreich Corporations are price gouging. It's time for price control, Windfall Profit taxes
Show threadBarry McCabeNov 20, 2022
@rbreich only way to stop that is more people need to speak up
Show threadSuzy StroudNov 20, 2022
@rbreich Thank you Profesor Reich for joining Mastodon. I learn so much from you! @tproust
Show threadWe're Not In Kansas AnymoreNov 20, 2022
@rbreich It's so frustrating to know that corporations are price gouging. I've never, in my 75 yrs.seen so much greed and evil. Anyone gonna investigate that?
Show threadGabeBeRealNov 20, 2022
@rbreich there are no incentives to reduce food prices just like there are no incentives to reduce healthcare. When much of the providers are publicly traded the only incentive is to increase revenues and reduce costs. Nothing will change unless we rethink how these companies are incentivized.
Show threadSusan WilliamsNov 20, 2022
@rbreich Not only do the four food processors create inflation, they’re breaking ranchers financially. The food processors set the price they’ll pay for beef, and the ranchers are forced to take it, no matter how much they have to pay for hay. Too many $$$ in the hands of too few Americans.
Show threadLooseyGooseyNov 20, 2022

@rbreich

Maybe a sign we should reduce meat consumption, or buy local.

Show thread@huge on TwitterNov 20, 2022
@rbreich time for another meat boycott. Likes it 1970’s.
Show threadSaint Baal-MAŠNov 20, 2022
@rbreich inflation is entirely the post-facto justification for capitalist greed.
Show threadEaton HamiltonNov 20, 2022

@rbreich

Many said, No mergers, no amalgamations, it's not going to be good in the long run, but, no, govts had to rubber stamp them.

Show threadConnieNov 20, 2022
@rbreich greed (hiding behind inflation)
Show threadpillsubtletyNov 20, 2022
@rbreich don’t forget the Kroger proposed acquisition of Albertsons
Show threadHeidiNov 20, 2022
@rbreich yes, called Capitalism. We all need to act like very aware customers and really decide consciously what to buy. Also … no one needs meat. Less is better for the budget, the economy, your body and the planet.
Show threadRob KnellNov 20, 2022
@rbreich is that globally? Just in one country?
Show threadMary M. RedouteyNov 20, 2022
@rbreich Trump Tariffs and trade wars still increase inflation...
Materials costs skyrocketed and are still high... Scarcity of some materials here is still leading to higher prices.
The retail sector first ate the costs as it did not want to raise prices beyond the consumer set price points as it feared angry consumers and an end to product loyalty.
Then we saw covert price increases, products getting smaller& cheaper ingredients. Then it finally raised prices and zoomed past set points.