Kraft Heinz, Conagra Will Start Passing On Soaring Food Costs To Consumers

#26
#26
BigOrangeTrain said:
Nope. Why? Because you don’t understand supply and demand. Also how do you scale the wages? Let’s take a grocery store. I worked as a meat cutter for awhile years ago. That’s a skilled trade. So let’s say a meat cutter is making $17/hr currently. Yet a cashier or bagger can get hired in with zero training at $15/hr. How do you scale the wages?
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Evil doesn't understand much
 
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#28
#28
W.TN.Orange Blood said:
This is all Jackass Joe Biden's fault. He's the King on the Hill now. Some lunatics get all excited he's in charge now.
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You know, the article literally leads off with "Late last year we noted that SocGen's Albert Edwards warning readers that it could be time to start "panicking" about soaring food prices."

When you overtly blame the administration for something very clearly not there fault, it's not them that you make look stupid. Not everything is political and Biden isn't any more responsible for this than Trump was.
 
#29
#29
evillawyer said:
Since I see all the new found concern for the poor and their ability to afford food, I assume all are on board for the increase in the minimum wage?
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Nobody is going to fully support themselves for $15 an hour. These jobs are meant for high school kids and old folks looking for some time to kill. Anyone already making $15 an hour needs to look back on their poor life choices.
 
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#30
#30
#31
#31
C-south said:
Nobody is going to fully support themselves for $15 an hour. These jobs are meant for high school kids and old folks looking for some time to kill. Anyone already making $15 an hour needs to look back on their poor life choices.
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$15 is not a starting wage. It isn't an ideal wage, but you could live a modest life on it in most parts of the country.
 
#37
#37
n_huffhines said:
Well, technically the proposed increase actually would pull people out of poverty, it's just the lucky people who still have jobs after their wages are increased. Everybody else suffers.
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Not just that. Along with simply costing jobs people would be shifted to part time work and never receive benefits, pay increases, or a full week’s work.
 
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#38
#38
n_huffhines said:
Well, technically the proposed increase actually would pull people out of poverty, it's just the lucky people who still have jobs after their wages are increased. Everybody else suffers.
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Inflation and the correction for margin will put them back in poverty and likely even worse than before. It would also slide the scale of poverty because there won't be an immediate correction to more skilled jobs being paid more. So emts who are fine now will simply have higher bills and same pay. People who are full time with benefits will now be part time and have to buy their own insurances. Minimum wage hikes hurt the low and middle classes.
 
#39
#39
utvols88 said:
Inflation and the correction for margin will put them back in poverty and likely even worse than before. It would also slide the scale of poverty because there won't be an immediate correction to more skilled jobs being paid more. So emts who are fine now will simply have higher bills and same pay. People who are full time with benefits will now be part time and have to buy their own insurances. Minimum wage hikes hurt the low and middle classes.
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No. The diffused cost of the minimum wage hike will not offset the concentrated benefits for the people who are literally doubling their wages. For inflation to offset their gains in the next 4 years, it'd have to increase from about 3% per year to about 28% per year. That's not happening. Business owners would move more heavily to skeleton crews and automation, which is what creates the unemployment issue. Even if business owners didn't adjust, wages are only one of many input costs and thus doubling minimum wage wouldn't double prices to consumers.
 
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#40
#40
utvols88 said:
I can't imagine how frustrated you get day in and day out by not being able to think critically.
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Look into Australia. Highest minimum wage in the world. Hasn't destroyed their economy. Luxembourg has a high minimum wage as well. Strong economy. Seattle's economy has kept on humming even though they have a high minimum wage.
 
#41
#41
TNVOLNAVY said:
Less than one month and the cancer is already starting to metastasize.

Cost of living is about to soar and all the average joe has to cover it is a $1400 check from Uncle Joe. To sum up, prepare for major food companies to start jacking up food prices. We assume this will not sit well in the stomachs of already-broke consumers.

Kraft Heinz, Conagra Will Start Passing On Soaring Food Costs To Consumers | ZeroHedge
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Perfect time to raise the minimum wage to $15.
 
#42
#42
n_huffhines said:
No. The diffused cost of the minimum wage hike will not offset the concentrated benefits for the people who are literally doubling their wages. For inflation to offset their gains in the next 4 years, it'd have to increase from about 3% per year to about 28% per year. That's not happening. Business owners would move more heavily to skeleton crews and automation, which is what creates the unemployment issue. Even if business owners didn't adjust, wages are only one of many input costs and thus doubling minimum wage wouldn't double prices to consumers.
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But it will still create some level of additional inflation. Which makes the gap between the billionaires and the lower class even more extreme. Which will lead to even more demand for left wing economic policies.

Democratic politics is like the episode of it’s always Sunny where Charlie continually puts more and more cats in the wall in an attempt to get the first cat out. They attempt to continually add more and more regulation in order to correct issues created by regulation.
 
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#44
#44
evillawyer said:
Look into Australia. Highest minimum wage in the world. Hasn't destroyed their economy. Luxembourg has a high minimum wage as well. Strong economy. Seattle's economy has kept on humming even though they have a high minimum wage.
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Why do you believe a minimum wage is necessary at all? How many people even make that amount, 1% or less?
 
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#45
#45
evillawyer said:
Look into Australia. Highest minimum wage in the world. Hasn't destroyed their economy. Luxembourg has a high minimum wage as well. Strong economy. Seattle's economy has kept on humming even though they have a high minimum wage.
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You should look into Australia, things are not all rosy down there.
 
#47
#47
hog88 said:
There shouldn't be a federal min wage period. The cost of living varies too much in this country for it to make any practical sense.
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That's not an argument for there being no minimum wage. That's just an argument for linking whatever the minimum is to cost of living
 
#49
#49
hog88 said:
There shouldn't be a federal min wage period. The cost of living varies too much in this country for it to make any practical sense.
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We dont need to even take it that far. The government shouldnt be involved in setting the transaction rate between 2 private citizens.
 
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