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Truly shows how Free Markets are the most efficient
In the US, all the retailers earn razor thin profit margins (except Home Depot/Lowes), indicating if prices were lower, the businesses would fail, or at best become charities.
Edit: for the one Austrian retailer I could find numbers for, they are not pretty. Not sure how the retailer can lower prices without going out of business if they already have sub 1% profit margins.
Funny how the two most pro-Russian EU countries, Hungary and Austria, are the ones suffering the worst inflation despite continuing to trade with Russia. The only parts of the countries doing well are Budapest and Vienna that are both controlled by opposition parties.
Funny how the two most pro-Russian EU countries, Hungary and Austria, are the ones suffering the worst inflation despite continuing to trade with Russia. The only parts of the countries doing well are Budapest and Vienna that are both controlled by opposition parties.
Austrian inflation and trade with Russia: please explain how this is related? Is it because corporations are being used to put the squeeze on the Austrian people? Sanctions? Because nobody wants to do trade with Austria? In which case, there must surely be examples? I'd love to know a few.
[0]: https://oesterreich.orf.at/stories/3194035/
https://www.reuters.com/business/energy/hungary-agrees-optio...
To check price of items in Austria, the website is here: https://heisse-preise.io/ Browsing around, the prices look very reasonable and inexpensive to me. For example, 500 g bag of peanuts is 4.59 euros, the price has fluctuated between 3.39 to 5.59 euros over the years. Peanuts name is “Kelly's Erdnüsse geröstet & gesalzen”
That is ridiculous expensive for peanuts.
Edit: if the comparison is dry salted peanuts, then Walmart sells Planters brand for ~$3.50 per 500 grams.
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Supermarkets are colluding to increase prices as all companies are wont to do. There isn’t enough competition to act as downward pressure on prices. This isn’t a monetary thing that YouTube says - the goods a few miles away in Germany aren’t seeing this, despite being in the same currency and no difficulty transporting them. In a free market a competitor would buy from the same supplier the german supermarket does, u…
Earlier quoted context omitted.
One trick I noticed while doing data input for supermarkets (in a different market) is that price rises are always advertised as promotions. Say a supermarket has a $1.10 item and they want to increase that product to $1.50. They'll up the price to $1.50 immediately, and add a "40c off" to the ticket. The consumer sees "promotion" and assumes it's a discount, when it's actually just the same price as usual. Then ~2 w…
Now in Poland every promotion needs to display lowest price for the product in last 30 days l, effectively countering this strategy.
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Pro-Russian right-wing parties in Europe are blaming inflation on our sanctions on Russia. If that was the case Hungary and Austria would not be the the countries that are worst affected by inflation.
This doesn't make any sense at all. Please explain it without generalizations, and maybe give some examples?
Earlier quoted context omitted.
Now in Poland every promotion needs to display lowest price for the product in last 30 days l, effectively countering this strategy.
Wow, I love Poland now.
https://europa.eu/youreurope/citizens/consumers/unfair-treat...
Earlier quoted context omitted.
That's nice if we forget about the ECB printing money like there's no tomorrow.
Which explains why inflation in countires like Belgium, Spain, Denmark, Luxembourg are all under 2.5% as they famously don't use the Euro.
Truly shows how Free Markets are the most efficient
If food and housing gets too expensive, then sorry mate, nothing we can do about it, that's just how the free market™ works, try working harder. But when labor gets too expensive pushing wages up, then it's no longer the free market, but it's a "labor shortage" catastrophe all over the media and we have to shed tears about the poor business owners wo can't afford a second Porsche, so immigration gets turbocharged unt…