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Politics : View from the Center and Left

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To: koan who wrote (497150)	8/21/2022 11:30:51 AM
From: Jamie153	of 542501

I'm at the 5 minute mark while I'm writing this. We have three retailers reducing prices fast, Walmart, Kohl's and Target. The headline is all we need. "Target's profit fell 90% as it got rid of excess merchandise this summer" This idea that a supply chain shortage caused inflation is iffy. Massive drops in prices are happening as we speak. Why? CEOs raised prices throughout the year and people stopped buying. In my area a pair of men's shorts at WMT range from $3 -7. They were around $30. They need to get rid of the summer stuff cuz winter is around the corner (in my area). Their choices are limited. Storing all this crap isn't possible so they have to sell, sell, sell. ' CEOs saw pent-up demand, raised prices, and now are forced to sell at a loss because they lost their summer sales and we're heading into another season. IMO, this is what dumb looks like. When you can't sell a used car you don't increase its price. Everyone knows this, except the highest paid CEOs in the world. I agree with what I'm hearing for far but so much of this was self-inflicted.

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