755
FTC head wants investigation into grocery stores over inflated prices
(www.independent.co.uk)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 12 Aug 2024
755 points (100.0% liked)
News
23387 readers
2243 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
But didn't you hear? Less competition makes prices go down. The head of Kroger said so!!!!!
How they have gotten around it before is to promise they will keep prices down and then show how things will be much cheaper for them so they can do it. Unsurprisingly they all fail on their promises shortly after but they have already merged by that point and have little fear of being broken up.
You know things are getting bad when even capitalists are arguing against market economics.
"We believe the way to be America's best grocer is to provide great value by consistently lowering prices and offering more choices. When we do this, more customers shop with us and buy more groceries, which allows us to reinvest in even lower prices, a better shopping experience, and higher wages," said Rodney McMullen, chairman and CEO of Kroger.
It's a load of tripe. All these big companies come in with lower prices, drive their local competition out of business, then raise them once they've got a local monopoly. Even if Kroger currently has the best of intentions (I don't believe that), I wouldn't trust the next person or the one after that.
We're already fighting a losing battle with suppliers gouging and creating higher prices or shrinking portions for the same price. I'm scared to see what grocery bills would look like under a store monopoly in addition to that.