My dad thinks bacon is more expensive because people are asking for higher wages

While out shopping for food for the holidays, my mother went to a local supermarket and was only able to find bacon there at a price of $10/lb or higher. She ultimately ended up buying bacon for closer to $4/lb at a smaller, local butcher - but when she mentioned the price, my father wondered why the price was so high.

I offered that inflation was catching up to prices in grocery stores. He immediately countered that by offering the poorest take that I've heard from him in years regarding the economy:

"Everyone is asking for $15 an hour, which means the price of everything is trickling down to the consumer because companies can't afford these wages."

So... the "Fight for $15" is still ongoing. You'd be hard-pressed to find a chain of supermarkets offering a base wage of $15/hr, but this wage that hasn't gone into effect has caused prices to skyrocket pre-emptively? This is not an argument founded on even a bit of logic.

Also, fuck poor people, I guess? My mother at least commented to my dad that people need better money to survive, and he just scoffed at her. Fuck me too, I guess. I don't think my dad understands that when he makes comments like this, they're about me too.

Posted Dec 20, 2021, 10:45 PM UTC

4026
WanderingGreybushAnarcho-Communist :ancom:•

Bacon costs more because shareholders demand higher returns every year. It has very little to do with labour.

18
gobibaSmart & Lazy•

Nope, it’s the pigs who threatened to walk out, so they had to pay them more.

1
WanderingGreybushAnarcho-Communist :ancom:•

That's the police union. Wrong kind of pigs.

1
[deleted]•

It’s because of how much inflation has risen and nothing to do with shareholders.

1
WanderingGreybushAnarcho-Communist :ancom:•

What exactly is inflating?

1
[deleted]•

The cost of living. Gas went up around 60% this year, eggs are up 20%, bacon is up around 40%. It’s all because of inflation. It’s the highest that we’ve seen in a decade which is why we are seeing inflated prices. Though I do believe they will drastically fall next year y just like How timber rose and had fallen this year.

1
WanderingGreybushAnarcho-Communist :ancom:•

And where is the money from those increased prices going?

1
Chojyugigaidle•

“The top four hog-processing firms control 66% of the market now — a doubling of the market share from 1976, according to the NEC.”

consolidation seems to be a major cause

https://www.kcra.com/article/bacon-prices-have-reached-record-levels-heres-why-they-might-not-go-down-anytime-soon/37791555#

6
ShroomingAnarchist•

It’s just basic economics, the US dollar is worth less as a result of printing too many dollars because of covid so every business is going to raise prices to make the same amount (relative to the dollars value) as the year before

1
Skripka•

It is basic economics. It is called price gouging.

-Inflation is about 10%

-Meat processor profit margins are up about 300% netting about 500% higher net income.

​

No, it isn't due to inflation.

4
ShroomingAnarchist•

Is the gouging not a result of inflation ultimately? Or is it not considered gouging if the price raise makes it reasonably fair compared to inflation?

-1
Skripka•

Meat processors aren't paying their workers more, and the farmers are mad-as-hell because they aren't seeing a dime more for their animals. I referenced profit margin for a simple reason--if this were inflation driven, profit margins would be flat or just about--not +300% with net income +500%.

It is why meat processors are now lobbying for immigration to be opened up--so they can keep their underpaid immigrant wage-slaves that don't complain.

​

It ain't inflation, it is just price gouging. That they then rebrand as 'inflation'.

3
Asae_AmpanOnly working to pay off cat bills•

How the fuck is a 300% profit margin increase related to something that's 30x lower than it?

1
aSingularAvocado•

My mother thinks the same thing about a gallon of milk (although she sometimes mixes it up and throws Biden into the blame game)

1
theRobertX•

Labor is ~30% of most businesses costs. People think it's near 100%

Tell him it's because they pay the CEO tens of millions and made so much money last year that they were buying their own stock shares.

1
Sagg12thhouse•

Everything is just so expensive. I’m not doing Christmas this year at all and definitely not buying anymore groceries. I’m eating rice and beans. Juicing here n there. Spending 40-60 a month on groceries is the best bet. I don’t even bother anymore with meat either just because that has gone up too.

1