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Kim PeralesTrump is weaponizing “pricing optimization” consultants to gouge more consumers.“Trump’s administration halted a probe of surveillance pricing — now “price optimization” consultants are helping corporations weaponize Trump’s tariffs to jack up prices on consumers.”“Now is the time to take advantage,” said one consultant.”<a href="https://toad.social/tags/CorporateGreed" class="mention hashtag" rel="nofollow noopener" target="_blank">#CorporateGreed</a> <a href="https://toad.social/tags/Tariffs" class="mention hashtag" rel="nofollow noopener" target="_blank">#Tariffs</a> <a href="https://toad.social/tags/Gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#Gouging</a> <a href="https://toad.social/tags/USPol" class="mention hashtag" rel="nofollow noopener" target="_blank">#USPol</a><a href="https://www.levernews.com/how-trump-is-helping-price-gougers-exploit-his-tariffs/" rel="nofollow noopener" translate="no" target="_blank">https://www.levernews.com/how-trump-is-helping-price-gougers-exploit-his-tariffs/</a>

Chuck DarwinRepresentative Rashida Tlaib of Michigan and 13 colleagues wrote to the CEO of the supermarket behemoth <a href="https://c.im/tags/Kroger" class="mention hashtag" rel="nofollow noopener" target="_blank">#Kroger</a> in November about electronic price tags (often called <a href="https://c.im/tags/electronic" class="mention hashtag" rel="nofollow noopener" target="_blank">#electronic</a> <a href="https://c.im/tags/shelf" class="mention hashtag" rel="nofollow noopener" target="_blank">#shelf</a> <a href="https://c.im/tags/labels" class="mention hashtag" rel="nofollow noopener" target="_blank">#labels</a> or <a href="https://c.im/tags/ESLs" class="mention hashtag" rel="nofollow noopener" target="_blank">#ESLs</a> ). These digital displays allow companies to change prices automatically from a mobile app. Tlaib warned that this so-called “<a href="https://c.im/tags/dynamic" class="mention hashtag" rel="nofollow noopener" target="_blank">#dynamic</a> <a href="https://c.im/tags/pricing" class="mention hashtag" rel="nofollow noopener" target="_blank">#pricing</a>” permits retailers to adjust prices based on their whims. Just as <a href="https://c.im/tags/Uber" class="mention hashtag" rel="nofollow noopener" target="_blank">#Uber</a> raises prices during storms or rush hour, retailers like Kroger use ESLs to adjust prices based on factors like time of day or the weather. Supermarkets could conceivably mine a shopper’s personal data to set prices as high as possible. “My concern is that these tools will be abused in the pursuit of profit, surging prices on essential goods in areas with fewer and fewer grocery stores,” Tlaib wrote. In August, Senators Elizabeth <a href="https://c.im/tags/Warren" class="mention hashtag" rel="nofollow noopener" target="_blank">#Warren</a> and Bob <a href="https://c.im/tags/Casey" class="mention hashtag" rel="nofollow noopener" target="_blank">#Casey</a> wrote to Kroger raising similar concerns about <a href="https://c.im/tags/price" class="mention hashtag" rel="nofollow noopener" target="_blank">#price</a> <a href="https://c.im/tags/gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#gouging</a>. Noting that the company has already implemented the technology in hundreds of stores across the county, they warned that “ESLs may help Kroger extract maximum profits from consumers at a time when…high grocery prices are a leading concern among Americans who are concerned about inflation.” Warren and Casey also voiced concern about Kroger’s partnership with Microsoft to install <a href="https://c.im/tags/facial" class="mention hashtag" rel="nofollow noopener" target="_blank">#facial</a>-<a href="https://c.im/tags/recognition" class="mention hashtag" rel="nofollow noopener" target="_blank">#recognition</a> technology in stores, which could be used to identify individual customers: When a shopper approaches the shelf, she would see a price calibrated specifically for her. The next shopper might pay a different amount based on their profile. Retailers could use shopper data to charge higher prices to those who can afford to pay more, but since stores do not have to disclose who is making pricing decisions or why, the senators worry that shoppers on a budget are particularly vulnerable. “It is outrageous that, as families continue to struggle to pay to put food on the table, grocery giants like Kroger continue to roll out <a href="https://c.im/tags/surge" class="mention hashtag" rel="nofollow noopener" target="_blank">#surge</a> <a href="https://c.im/tags/pricing" class="mention hashtag" rel="nofollow noopener" target="_blank">#pricing</a> and other corporate <a href="https://c.im/tags/profiteering" class="mention hashtag" rel="nofollow noopener" target="_blank">#profiteering</a> schemes,” they wrote<a href="https://www.thenation.com/article/society/retail-grocery-automation-esl-kroger/" rel="nofollow noopener" translate="no" target="_blank">https://www.thenation.com/article/society/retail-grocery-automation-esl-kroger/</a>

Chuck DarwinWhen one year’s sales matches a full three decade research budget, <a href="https://c.im/tags/price" class="mention hashtag" rel="nofollow noopener" target="_blank">#price</a> <a href="https://c.im/tags/gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#gouging</a> is clearly afoot. And that’s the case for Novo Nordisk A/S, -- maker of sister GLP-1 drugs <a href="https://c.im/tags/Ozempic" class="mention hashtag" rel="nofollow noopener" target="_blank">#Ozempic</a> (type 2 diabetes, T2D) and <a href="https://c.im/tags/Wegovy" class="mention hashtag" rel="nofollow noopener" target="_blank">#Wegovy</a> (obesity).In September, Bloomberg estimated that the two drugs would bring in $65 billion in sales by the end of 2024. The entire research budget for the past three decades is $68 billion, with the company stating that its R&D budget for 2023 was only $5 billion or about 7% of sales in 2024.News reports note that Novo Nordisk charges US patients about $1,000 per month for Ozempic and almost $1,400 for Wegovy. Currently, insurance provides coverage when described for T2D but not obesity. Given that obesity is a risk factor for T2D, this decision seems shortsighted; but that’s for another day.In its home country of Denmark, Novo Nordisk reduced the price for Ozempic under governmental pressure by a third. It’s now costs the government $130 a month in Denmark for patients with T2D. Wegovy is not covered by the state health care plane and would cost Denmark patients $365 out of pocket per month.Ozempic price in Germany? -- $92 a month.💥That’s 10-fold price premium for Ozempic in the US when compared with Germany.👉Yet researchers estimate that Ozempic could be produced for $5 a month, or less, including a profit margin.⚠️This is an oligopolistic market, and as such it should be regulated. Three firms — Novo Nordisk, Eli Lilly, and Sanofi — “control more than more than 90% of the global insulin market.” These GLP-1 drugs fall into the insulin market due to their impact on diabetes; many patients are able to reduce or stop insulin when taking Ozempic <a href="https://themoderatevoice.com/past-time-to-regulate-big-pharma-novo-nordisk-profits-in-2024-are-obscene/" rel="nofollow noopener" translate="no" target="_blank">https://themoderatevoice.com/past-time-to-regulate-big-pharma-novo-nordisk-profits-in-2024-are-obscene/</a>

NonilexThis could be very good for <a href="https://masto.ai/tags/KamalaHarris" class="mention hashtag" rel="nofollow noopener" target="_blank">#KamalaHarris</a>. <a href="https://masto.ai/tags/Inflation" class="mention hashtag" rel="nofollow noopener" target="_blank">#Inflation</a> is a global phenomenon & not in the hands of any one leader. But there is consensus among the world’s top economists that the <a href="https://masto.ai/tags/USeconomy" class="mention hashtag" rel="nofollow noopener" target="_blank">#USeconomy</a>, under the <a href="https://masto.ai/tags/Biden" class="mention hashtag" rel="nofollow noopener" target="_blank">#Biden</a> admin has by far done the best & is in part responsible for averting a global recession.Nevertheless, Americans’ <a href="https://masto.ai/tags/vibenomics" class="mention hashtag" rel="nofollow noopener" target="_blank">#vibenomics</a> have been very unforgiving of Biden & <a href="https://masto.ai/tags/Harris" class="mention hashtag" rel="nofollow noopener" target="_blank">#Harris</a> despite action on <a href="https://masto.ai/tags/gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#gouging</a>, <a href="https://masto.ai/tags/drug" class="mention hashtag" rel="nofollow noopener" target="_blank">#drug</a> <a href="https://masto.ai/tags/costs" class="mention hashtag" rel="nofollow noopener" target="_blank">#costs</a> etc. <a href="https://masto.ai/tags/InterestRates" class="mention hashtag" rel="nofollow noopener" target="_blank">#InterestRates</a> decreasing 2 months before people vote may help.

Chuck DarwinInflation has been slowing markedly over the past year, and is now nearly back to its pace before the pandemic. The Consumer Price Index climbed 2.9 percent in the year through July, data this week showed, the first time inflation has dipped below 3 percent since 2021.As economists revisit why inflation reached such a rapid pace at its peak, some point to <a href="https://c.im/tags/price" class="mention hashtag" rel="nofollow noopener" target="_blank">#price</a> <a href="https://c.im/tags/gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#gouging</a>. It is clearly the case that 🔸corporate profits picked up sharply during the pandemic. And throughout 2022 and much of 2023, 🔸companies regularly talked about how much new pricing power they had, and how 🔸they were trying to keep customers buying more “premium” products at heftier price points.Researchers at the Groundwork Collaborative in Washington produced a report in January calculating that 💥corporate profit margins accounted for about half of American inflation in the second half of 2023.<a href="https://www.nytimes.com/2024/08/15/business/economy/kamala-harris-inflation-price-gouging.html?smid=nytcore-ios-share&referringSource=articleShare" rel="nofollow noopener" translate="no" target="_blank">https://www.nytimes.com/2024/08/15/business/economy/kamala-harris-inflation-price-gouging.html?smid=nytcore-ios-share&referringSource=articleShare</a>

Boing Boing"Spread Pricing" transparency reveals the millions CVS rakes in by gouging Medicare and prisons on prescription markups <a href="https://boingboing.net/2018/09/13/free-market-efficiency.html" rel="nofollow noopener" target="_blank">https://boingboing.net/2018/09/13/free-market-efficiency.html</a> <a href="https://botsin.space/tags/latestagecapitalism" class="mention hashtag" rel="nofollow noopener" target="_blank">#latestagecapitalism</a> <a href="https://botsin.space/tags/unlawfulprocurement" class="mention hashtag" rel="nofollow noopener" target="_blank">#unlawfulprocurement</a> <a href="https://botsin.space/tags/medicareforall" class="mention hashtag" rel="nofollow noopener" target="_blank">#medicareforall</a> <a href="https://botsin.space/tags/profiteering" class="mention hashtag" rel="nofollow noopener" target="_blank">#profiteering</a> <a href="https://botsin.space/tags/business" class="mention hashtag" rel="nofollow noopener" target="_blank">#Business</a> <a href="https://botsin.space/tags/gouging" class="mention hashtag" rel="nofollow noopener" target="_blank">#gouging</a> <a href="https://botsin.space/tags/pharma" class="mention hashtag" rel="nofollow noopener" target="_blank">#pharma</a> <a href="https://botsin.space/tags/post" class="mention hashtag" rel="nofollow noopener" target="_blank">#Post</a> <a href="https://botsin.space/tags/cvs" class="mention hashtag" rel="nofollow noopener" target="_blank">#cvs</a>

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