JBS paid a $25 million settlement last year over beef price-fixing. Tyson has paid ~$220 million in recent years for inflating chicken prices. Hormel is now getting grilled for illegally overcharging for pork. When I say price gouging is driving inflation, this is what I mean.
JBS paid a $25 million settlement last year over beef price-fixing. Tyson has paid ~$220 million in recent years for inflating chicken prices. Hormel is now getting grilled for illegally overcharging for pork. When I say price gouging is driving inflation, this is what I mean.
AND...a 2023 DOJ antitrust lawsuit alleges that the company Agri Stats helped meat processors band together to inflate prices. Agri Stats’ clients control 80-90% of turkey, broiler chicken, & pork sales in the U.S. Learn more about the meat monopoly:
@RBReich @RebeccaBixby1 OK but Hormel getting grilled is hilarious.
@RBReich Ask any Maga, and it's all Bidens' fault. We've been constantly saying it's the people running these companies who are doing it. They only believe what the talking heads are "paid" to tell them. If they'd wake up to reality, we could all attack this together. It hurts everyone.
@RBReich Now do the rest of the millions of prices in the economy. Or are pork, beef, and chicken that important to overall prices?
@RBReich This tracks the 120-month (10-year) average annual % rise in the pork price since the mid-1970s. At 2% per year from March 2014-March 2024, the chart indicates (red line) that those pork-gougers have been generally LESS powerful over the recent period than in 1990s, '80s & '70s!
@RBReich @MayoIsSpicyy Thanks for saying this louder than I can on here. "Greed is driving this round of inflation".
@RBReich @MayoIsSpicyy Quick question - did the money from those fines go toward food for low income folks?
@RBReich Congress could protect Americans from this theft by corporations if they weren’t being paid by lobbyists to not protect Americans from this theft by corporations.