"Greedflation" has gone too far!

[Fiatless]

When costs go up, so do profits? That’s not how capitalism is supposed to work, but that is the recent trend. For over a year now, consumers and businesses, both in the U.S. and worldwide, have struggled with stubborn inflation. But the soaring costs haven’t prevented corporations from raking in record profits. The companies in last year’s Fortune 500 alone generated an all-time high $1.8 trillion in profit on $16.1 trillion in revenue.

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

Greedflation!!!!!! I like this concept because this is indeed the current happening in the global economy. These multinationals are milking the people dry. In my country, there is a massive increase in the cost of goods and many businesses are closing down because of high running costs. The government agencies that regulate the price of goods should control this price by monitoring the rate at which these firms increase the price of goods.

This concept shouldn't be linked only to countries in the US, Canada, or Europe but the OPEC+ members. These countries have kept using the war in Ukraine and sanctions on Russia and Iran to rack in huge profits to the detriment of the masses. Saudi Arabia and other oil-producing nations are making so much money and they want to ensure the price remains high by cutting production.

The Saudi Arabian Oil Company (“Aramco” or “the Company”) today announced its full-year 2022 financial results, reporting a record net income of $161.1 billion — its highest annual profits as a listed company. Aramco also declared a fourth quarter dividend of $19.5 billion, to be paid in the first quarter of 2023.

https://www.aramco.com/en/news-media/news/2023/aramco-announces-full-year-2022-results

[iv4n]

...
The result today is that there are almost 8 billion people living on earth, compared to 1 billion in 1800. That hunger in the world has been drastically reduced and that in most of the poor countries where half a century ago people were starving, today they have an obesity problem.

Communist economists like this one don't want to learn that companies can be as greedy as they want, that if they are too greedy it backfires on them, but just his predicting the end of capitalism for the umpteenth time should make us think.

I think we will agree that in 1800 the world was much cleaner, in contrast to modern times, where garbage is everywhere around us, rising over our heads slowly, and we eat totally unhealthy food that comes "from who knows where"... and there are many other "modern global problems" that didn't exist 200 years ago.

With this article, I wanted to point out "Greedlation", not the story about the end of capitalism. I guess nothing lasts forever, and capitalism will have some end eventually. Do we need some big catastrophe that will force the world to change, as it usually happens, or will we do something before that?

I definitely think we need something new, at the moment exploiting world resources and not paying attention to pollution and all other negative effects caused by "chasing profit by all means" will backfire on all of us.

Severn Cullis-Suzuki at Rio Summit 1992 - https://www.youtube.com/watch?v=oJJGuIZVfLM

And where are we 30 years later?

[Orpichukwu]

It's not so much that prices are going up as that money is worth less and less.

That's the price of items is determined by the value of the fiat. If the fiat is worth lower than what it usually was, then the price of the item will be major equalivant to the value of the fiat .
Let's take for instance, 1 USD = 1 BUSD before, if it happens that 1USD= 1.1BUSD the value of anything purchase using the BUSD will no longer be thesame the purchasing power will decrease and, which will make price of goods increase in other to meet up the value reduction

[kaseygriffin]

(...)I understand that someone wants to be rich, but when is enough? Is there enough?

IMO, this depends entirely on the individual and their views on money and wealth. Some people may think that just enough to cover their daily lives and invest for the future is enough, while others may want to earn more money to achieve their personal goals and dreams. However, it should be noted that money is not everything in life and cannot buy happiness and satisfaction. If you always focus on making money and ignore more important things like family, friends, health, and life experiences, you may miss out on the most important things in life.

[concept2]

When costs go up, so do profits? That’s not how capitalism is supposed to work, but that is the recent trend. For over a year now, consumers and businesses, both in the U.S. and worldwide, have struggled with stubborn inflation. But the soaring costs haven’t prevented corporations from raking in record profits. The companies in last year’s Fortune 500 alone generated an all-time high $1.8 trillion in profit on $16.1 trillion in revenue.

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

Yo, dude! Your comment is so deep! It's like the whole "money, money, money" thing is totally messing with the whole "capitalism" idea. The term "Greedflation" is pretty wild, right? Makes you think, can't we just chill out a bit and not obsess over profit? Maybe we need to ask some real philosophical questions here, ya feel me? Is it time to switch from profit to people? But then again, do these big corporations even care? I'm not too convinced, ya know?

Let's not get all serious and stuff, how 'bout we whip up a brand spankin' new term, "Laughflation," to give "Greedflation" the finger? We can share some laughs and good vibes while we're at it, and tackle this whole excessive greed thing head on. You down for that? I mean, it's totally a knee-slapper and super friendly, right?

[jrrsparkles]

Some sectors gained demand especially due to covid and it continues there after so especially companies related to medicine is making more profits and also with the inflation the numbers are getting huge where as other sectors dumped which are in the recovery phase at the moment.

Anyway no matter how much money they are making they will be interested in making more because we don't know how the future will be so the capitalism is still the successful model which makes rich gets richer but allows anyone with the potential and skill can reach that status.

[kryptqnick]

The fact that the gap between the poor and the wealthy is getting bigger is honestly outrageous to me. I thought it wasn't real until perhaps several years ago because I believed that, surely, the world was making progress toward becoming a more egalitarian place. That the corporations are recording top profits when the majority is suffering is among the indicators of this gap. I actually wouldn't mind seeing the end of capitalism, as long as there's a better system to replace it. But I suppose a more realistic approach is seeking for a better fusion of capitalism and socialism, so that becoming rich and earning profit remains possible BUT there's also a really strong social welfare system financed by the richest people which should become bigger and bigger to narrow the gap. As for greedflation, we just need to outlaw it, so that everyone suffers at least proportionately equally.

[Merit.s]

Greedflation has being a big problem all over the world in excuse of covid-19 pandemic and the ongoing war in Ukraine. My country is a third world country and greedflation has eaten up the bones of companies that even when the price of raw materials reduces,producers and companies still maintain their sales price instead of bringing it down,leaving the citizens to suffer for their greedy actions and they put the blame on inflation. I have being lamenting on this but no one seems to understand the danger that greedflation will be in the economy and the citizens themselves. In my country if the price of certain commodity goes up,it will hardly come down with 1% even though the cause of the hike in price on that commodity has been tackled. For instance,in my country the cost of petroleum products will go high,when it is scarce due to one crisis or the other. This is what do cause the price of commodities to go high, but even after there is abundant of petroleum products and the price has gone back to the normal price before scarcity, this producers and wholesalers will still stick to the new price which they have increased it to when there was scarcity of petroleum product.

[Oceat]

(...)I understand that someone wants to be rich, but when is enough? Is there enough?

IMO, this depends entirely on the individual and their views on money and wealth. Some people may think that just enough to cover their daily lives and invest for the future is enough, while others may want to earn more money to achieve their personal goals and dreams. However, it should be noted that money is not everything in life and cannot buy happiness and satisfaction. If you always focus on making money and ignore more important things like family, friends, health, and life experiences, you may miss out on the most important things in life.

There's nothing wrong if you want to be rich since it's a satisfaction to the others so that they can buy what they want anytime. But just like what you said there are things that money can't buy like feelings, friends, and health, but without money or lack of enough money won't get you far away in life either.

So the question when is enough is subjective IMO since not everyone of us have the same goal but when there's a greed attached to your ambition that's the time enough never existed in your life.

[Baofeng]

When costs go up, so do profits? That’s not how capitalism is supposed to work, but that is the recent trend. For over a year now, consumers and businesses, both in the U.S. and worldwide, have struggled with stubborn inflation. But the soaring costs haven’t prevented corporations from raking in record profits. The companies in last year’s Fortune 500 alone generated an all-time high $1.8 trillion in profit on $16.1 trillion in revenue.

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

It's different when corporations wanted to get rich by selling their stuff to their consumers at a high price with cheap labor. But it's different when corporations are taking advantage of an event, i.e. pandemic, wars, to increased their prices and to make a lot of profits out of it. And that's what currently is happening in corporate America or even some in Europe.

And the bad side of it, specially if inflation are going to continue let's say in the next 5-10 years, this "Greedflation' could lead to a huge in balance and obviously make life hard to average joe who are just living from their week to week paycheck in order to survived. Let's give a example, you to go grocery and you see the price is too high and you can't afford it. So what's going to happen?

This has to stop, and the government need to step up to control the prices.

[Sarah Azhari]

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

the concept they use behind it is economic growth, they always use that word ("economic growth") for all purposes of deception like printing money, or fiat. because the fiat circulation supply is out of control then there is inflation. Greedflation is happening after they print money for stimulus strategy but they didn't think of the effect after.

I don't surprise the next time there will be new words besides Greedflation, maybe the next viral is Whalesflation.

Hahahaha that's an interesting word to be added next to the dictionary  . Anyway, they kept using those words "economic growth" or something similar to lure people into saving more money or for them to actually sold out all those money like they are offering some kind of valuable treasure. They wanted people to think that more money means more influence. It is partially true that someone who has more money has more influence and more power over the other, that is when the term "greed" enters, since both parties wants the authority and influence, they will keep competing without thinking what trap they have fallen into. It just feels like a game that only those boss monsters are fighting while those low-level players (average income to low income) get affected and suffers tremendously.

Even if what I have said is just my own speculation, there's no need to see the proofs to notice what our society has become because of that competition, and I am sure that you guys have noticed that too.

All this story is mastered by the richest fiat people in the world. We can't argue it if only talk and give the theory without action.
No one out dares except satoshi. But, even has gone, he left something valuable called Bitcoin. There are main weaknesses that fiat has when didn't have underlying again by gold, because the government always prints money they want, then inflation comes, who is dare?, of course, the government but, still the government is always controlled by Whales (Whalesflation) who speculate in it, and made rich themself.

[michellee]

(...)I understand that someone wants to be rich, but when is enough? Is there enough?

IMO, this depends entirely on the individual and their views on money and wealth. Some people may think that just enough to cover their daily lives and invest for the future is enough, while others may want to earn more money to achieve their personal goals and dreams. However, it should be noted that money is not everything in life and cannot buy happiness and satisfaction. If you always focus on making money and ignore more important things like family, friends, health, and life experiences, you may miss out on the most important things in life.

There's nothing wrong if you want to be rich since it's a satisfaction to the others so that they can buy what they want anytime. But just like what you said there are things that money can't buy like feelings, friends, and health, but without money or lack of enough money won't get you far away in life either.

So the question when is enough is subjective IMO since not everyone of us have the same goal but when there's a greed attached to your ambition that's the time enough never existed in your life.

There is no word enough to be rich because if someone has a lot of wealth, he wants more wealth and that is natural because the desire to collect more money will arise when we have succeeded in getting money.

I agree that there are things that money can't buy so we have to realize that, at that point, money is of no use at all. We just hope that with money, we can make ends meet and with friends and family, we can feel happy and enjoy life.

And when greed comes to you, you have to be able to overcome it. Otherwise, you will never have enough of what you have because you want more.

[Fortify]

When costs go up, so do profits? That’s not how capitalism is supposed to work, but that is the recent trend. For over a year now, consumers and businesses, both in the U.S. and worldwide, have struggled with stubborn inflation. But the soaring costs haven’t prevented corporations from raking in record profits. The companies in last year’s Fortune 500 alone generated an all-time high $1.8 trillion in profit on $16.1 trillion in revenue.

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

In reality, while companies might be taking advantage at times, this stems from failed central bank policies and the politicians that enabled them. If we step back to the financial crisis of 2008, the US and then European governments ended up pushing interest rates down massively to encourage lending. That worked fine at the time, but in the last 10 years the economy had already recovered and these super low rates stayed in place. If the central banks had been responsible, they would have slowly notched the rates back up to discourage over borrowing and being reckless with the vast swathes of money that were sloshing around. Now it's the general public getting screwed because they are hiking them so fast to counteract inflation.

[davis196]

When costs go up, so do profits? That’s not how capitalism is supposed to work, but that is the recent trend. For over a year now, consumers and businesses, both in the U.S. and worldwide, have struggled with stubborn inflation. But the soaring costs haven’t prevented corporations from raking in record profits. The companies in last year’s Fortune 500 alone generated an all-time high $1.8 trillion in profit on $16.1 trillion in revenue.

‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Interesting article, the term "Greedflation" especially. This is the first time I come across this term and I like it. I understand that someone wants to be rich, but when is enough? Is there enough?

It's a well known fact for decades that inflation makes the rich richer and the poor poorer.
Should we expect that the companies are going to lower their profit margins just because there's an inflation and the prices are doing up?
Maybe there are cartel agreements and the forces of market competition are failing at lowering the prices. There's no significant drop in market demand, even though the prices are doing up. This means that the people have enough money to cover their bigger expenses. This is the result of the "helicopter money" policies and the stimulus checks in the last 3 years. Inflation will go down, only when the recession strikes.

[so98nn]

However, the greed is not always to have more. We have families to feed and certainly we all know that each year government and big institutional firms will raise the cost of living, daily need stuff, raw materials and bank interests and what not. This will be done to correct the income of government in the name of running the nation properly. They have to take care of various government schemes, pensions, research and military funds and what not.

The problem is, Money comes from the tax payers like you and me. In turn, the cost goes up, we pay more taxes and that’s why WE start running behind more money.

At least that could help us live a normal lifestyle. That’s the greed but they have defined it in most rugged way possible.

[darkangel11]

I agree with what they're saying here, the corporations were using covid as a justification to raise prices and force their medicine down our throats and now governments and corporations are using the war in the same way. Their reasoning is simple - rise energy prices and tell people it's because we don't have enough green energy and we all have to contribute to build this new, green world, with less greenhouse gasses and all that.

When the war broke out gasoline prices went up and reached prices unseen before, but when the price of crude oil dropped these fuel prices did not! They were still stealing from us keeping prices high because they saw that people could afford it. If they increased by 30% and we still kept buying it's money making time ladies and gents, until there's protests or the sales drop the prices will stay high.

[stompix]

‘We may be looking at the end of capitalism’

Lol, this non-sense never stops.
Some morons out there still don't understand that capitalism has nothing to do with politics, with banks with anything else, capitalism works even without banks, it has worked like that in the stone age, in the bronze age in the dark ages and it will work and continue to haunt all these wanna be socialist till the end of humanity.
Every single other alternative has to be imposed, has to be enforced by a multitude of never-ending laws and regulations till it goes down in flames taking down the entire economy and the people enforcing it with it. How many times does this need to happen to finally understand that you will first need to brainwash and lobotomized every single person in this world for capitalism to be gone?

And lately, this thing is getting frustrating!
How and why in the name of god are we even discussing here the end of capitalism when the whole idea of bitcoin, all the deals that happen on this forum, and all the businesses that start here and promote themselves are a product of capitalism and a free market?

I think we will agree that in 1800 the world was much cleaner, in contrast to modern times, where garbage is everywhere around us, rising over our heads slowly, and we eat totally unhealthy food that comes "from who knows where"... and there are many other "modern global problems" that didn't exist 200 years ago.

Yeah, everyone was burning coal and wood, there were basically no drugs to combat any epidemics, there was no food safety whatsoever, the life expectancy was around 40 years, and you know what childmortality looked like?

The child mortality rate in the United States, for children under the age of five, was 462.9 deaths per thousand births in 1800.

So basically for you to have two kids reaching adolescence you would have to be ready to bury at least two at birth.

And no garbage? Lol!
https://www.collectorsweekly.com/articles/when-new-yorkers-lived-knee-deep-in-trash/
Do you know how toilets and sewage worked in cities in 1800 and 1700? Oh wait, they didn't!

[iv4n]

...

I was wondering if you would leave a comment...

I don't wish to cut your post, I will answer in a different way...
 
- You started with the title of the article... as I pointed out "the end of capitalism" is not the point, but you made some good remarks, and I guess this is some kind of conclusion:

How many times does this need to happen to finally understand that you will first need to brainwash and lobotomized every single person in this world for capitalism to be gone?

I agree and it's because the fact is that we all want more. But I guess you missed my question, when is enough? Because of that "more money, more profit," we had/have too many casualties... who cares about nature, about the people? Does it matter when profit is higher...

The Guardian has reported on new research showing that in one year, a single large container ship can emit cancer and asthma-causing pollutants equivalent to that of 50 million cars.

- Yes I am aware of child mortality in the past, it's why people had many kids in the past (+5), they knew that some kids will not survive. That transition in Serbia came a bit later than in Europe for example. My Grandparents had +5 brothers and sisters, even some of their brothers and sisters couldn't make it. I still remember the summers spent in the village with them... my children don't have a village, and probably won't swim in the streams, rivers, and lakes where I swam +20 years ago. They will not be able to experience that as I did...

- I know about the sewage problems that all big cities had, believe it or not, some still have them... even in the 21st century! Even before that, in the time of castles, there were no toilets, where did the elite defecate? Tourists write that the stench is still felt, I wouldn't know, I haven't been and I don't plan to.

Some things are just not right... where is this "Greedflation" leading this world and all of us with it?

[stompix]

I was wondering if you would leave a comment... Smiley

When I see a chorus like this not understanding basic economic concepts and clapping their hand in full hate against a concept they are actually embracing while posting here on the same forum I needed to slap a bit of reality on some!

I agree and it's because the fact is that we all want more. But I guess you missed my question, when is enough? Because of that "more money, more profit," we had/have too many casualties... who cares about nature, about the people? Does it matter when profit is higher...

So, when are enough coins and enough profits made from BTC for you? Have you put a label and a quota on your plans also?  
Do you plan on quitting once you have enough and never search for profits again? Or...are you going to answer honestly on this one? 
Because you see, there is one huge difference between preaching this madness and actually being the one doing what your preach, and this is the annoying part, everyone has an idea of how others should live but god help if they should make such a radical change.
Communism at its best, everyone should be equal, but not me!

The Guardian has reported on new research showing that in one year, a single large container ship can emit cancer and asthma-causing pollutants equivalent to that of 50 million cars.

The Guardian is a leftist piece of toilet paper that stopped being credible a decade ago, I wonder why they keep printing that since we should have all died already
https://www.theguardian.com/science/2004/sep/11/meteorology.scienceofclimatechange
vs
https://www.highnorthnews.com/en/unusually-thick-sea-ice-make-challenging-shipping-northern-sea-route-summer

- Yes I am aware of child mortality in the past
- I know about the sewage problems that all big cities had, believe it or not, some still have them...

So why did you bring it into the conversation earlier?
Would you love to live like in 1800? Or would you love to see others living like that?

[iv4n]

When I see a chorus like this not understanding basic economic concepts and clapping their hand in full hate against a concept they are actually embracing while posting here on the same forum I needed to slap a bit of reality on some!

I am not sure did you read what I wrote, or do you judge by all posts... I am a bit confused here.

So, when are enough coins and enough profits made from BTC for you? Have you put a label and a quota on your plans also?  
Do you plan on quitting once you have enough and never search for profits again? Or...are you going to answer honestly on this one?  
Because you see, there is one huge difference between preaching this madness and actually being the one doing what your preach, and this is the annoying part, everyone has an idea of how others should live but god help if they should make such a radical change.
Communism at its best, everyone should be equal, but not me!

Well, believe it or not, I already have that math in my head. $500k and I am on pension! I could achieve it with Bitcoins and many other alts (I am here for a long time), but I missed many big things because I wanted to live... and gamble. We can go deeper into that and when I give it a thought it's pretty funny... but in the meantime, I got married, got kids, and all that goes along... Now it's even harder for me to understand how can some people do so horrible things to kids around the world... just for more profit.

I am not preaching any madness... I saw a new term that made me think. "Greedflation", to repeat it again. And I saw it as a global problem... Therefore quotation from Guardian. Big corporations with their "crazy big vehicles" of any kind are making a lot of pollution! They are digging and digging... moving mountains... and let's not get into what they are doing to people, maybe more important to kids along the way. Even now in the 21st century, let's not go into the past about it. Do you really think it's the right path!?  

So why did you bring it into the conversation earlier?
Would you love to live like in 1800? Or would you love to see others living like that?

Again, take a better look. It's not me who brought up "1800s" in conversation...

No, I wouldn't want to live in that time. And I don't live in that time... something we can't say for many others who are stuck in the middle ages. You are good with words, you push your thoughts and cunningly avoid answering the questions... Like some politicians.