For several years, the entire world, including the United States,
has been undergoing a severe economic recession, with record
bankruptcies, bank closures, corporate failures, and extreme rates of
unemployment. However, as in all things economic and political, all
entities have not suffered equally. While many people struggle, and
demand for many items, including gasoline have fallen, certain companies
have prospered. For example, Exxon Mobil had fourth quarter of 2010
earnings climb 53% to $9.3 billion. In light of the "spin" that has
blamed oil producing nations for the run up in oil prices, it is
important to understand that if prices were merely rising because of
increased costs, companies such as Exxon Mobil would should revenue
growth, but they would simultaneously have greater expenses, so their
earning would not grown nearly that substantially. When earnings grow by
53%, I believe that this is indicative of corporate greed, where large
multinational corporations benefit at the expense of the public. Now, when oil prices are far more affordable, which most of the public consider a major benefit (because it saves them on the cost of heating, as well as fueling their cars, and saving a lot of money), the stock market reacts negatively, because the energy industry is not making as much money as before! But, if the truth was being told in 2010, when prices were high, and their profits record breaking, they claimed then, that they didn't control fuel prices!
Certainly, corporations are entitled to profits, as long as they are
fair. When there is such substantial profit being made, it is simply a
form of corporate greed and the public is being dramatically impacted.
Greed is NOT limited to big business. Ask any real estate professional about why some houses take longer to sell than they should, and you'll be told how important it is to price a home properly from the start, yet the challenge is to convince a homeowner to avoid being greedy, and asking a more realistic price! Why don't people get up from a slot machine pays off big? While some will, the vast majority will seek more, insisting they are feeling lucky, which is exactly why casinos are as profitable as they often are? People buy stocks, but try to consider that there are always 3 possibilities: up; down; steady! Why don't they set a realistic goal or evaluation, instead of letting greed dictate their decisions?
It would be impossible for anyone not to notice what has been going on, both at the gas pump, filling up one's car, or at one's home or business, when the run up in energy costs being precipitated by that dramatic price increase. It even defied the economic law of supply and demand, because consumer demand for oil has actually decreased during that period. The large oil companies that profited by this will say that they are entitled to a profit, which they most certainly are. However, when oil and gas rises as quickly and dramatically as it has, it is important to recognize the ancillary impact that has on many aspects of our lives. We all, of course, saw the obvious increase at the gas pump and when heating oil is delivered. However, since most products are delivered, at least partly by truck, and trucks use diesel fuel (which in most areas of the country is even more expensive than gasoline), the increased costs get passed along to the end user, the consumers (also known as the American public), in the form of higher prices. Anyone who goes to a supermarket has seen their average grocery bill go up, as either prices have risen to cover these increased costs, or sizes have been reduced (at the same cost as the original larger size- obviously, also a price increase).
My cleaner has been complaining about how his cost of packaging, hangers, plastic, etc., have been dramatically increasing. Obviously that has cost him to raise his prices, which has translated either into fewer people using his services because of costs, or higher prices to those who have continued using his service.
How foolish must our government think the average American is when they are showing almost no increase in the cost of living. About the only thing that has gone down is the price a homeowner must accept if he wants to sell his home. Then, the government assesses homes at a lower price, making some individuals think that their real estate taxes will also decrease. However, all that actually happens is that the taxing authorities raise the rate taxed per assessed dollar, so again the individual takes the brunt of the pain.
Corporate greed, combined with governmental "spin" and inability to create a system to protect the average American during these times, has made these economic times trying, at best, for most Americans. We have laws known as usury laws, that protect consumers against unfair loan practices, where greedy loaners charge excessive interest for loaning money. Isn't corporate greed simply another form of usury, with even worse ramifications to the country and its economic health and well-being.
Greed is NOT limited to big business. Ask any real estate professional about why some houses take longer to sell than they should, and you'll be told how important it is to price a home properly from the start, yet the challenge is to convince a homeowner to avoid being greedy, and asking a more realistic price! Why don't people get up from a slot machine pays off big? While some will, the vast majority will seek more, insisting they are feeling lucky, which is exactly why casinos are as profitable as they often are? People buy stocks, but try to consider that there are always 3 possibilities: up; down; steady! Why don't they set a realistic goal or evaluation, instead of letting greed dictate their decisions?
It would be impossible for anyone not to notice what has been going on, both at the gas pump, filling up one's car, or at one's home or business, when the run up in energy costs being precipitated by that dramatic price increase. It even defied the economic law of supply and demand, because consumer demand for oil has actually decreased during that period. The large oil companies that profited by this will say that they are entitled to a profit, which they most certainly are. However, when oil and gas rises as quickly and dramatically as it has, it is important to recognize the ancillary impact that has on many aspects of our lives. We all, of course, saw the obvious increase at the gas pump and when heating oil is delivered. However, since most products are delivered, at least partly by truck, and trucks use diesel fuel (which in most areas of the country is even more expensive than gasoline), the increased costs get passed along to the end user, the consumers (also known as the American public), in the form of higher prices. Anyone who goes to a supermarket has seen their average grocery bill go up, as either prices have risen to cover these increased costs, or sizes have been reduced (at the same cost as the original larger size- obviously, also a price increase).
My cleaner has been complaining about how his cost of packaging, hangers, plastic, etc., have been dramatically increasing. Obviously that has cost him to raise his prices, which has translated either into fewer people using his services because of costs, or higher prices to those who have continued using his service.
How foolish must our government think the average American is when they are showing almost no increase in the cost of living. About the only thing that has gone down is the price a homeowner must accept if he wants to sell his home. Then, the government assesses homes at a lower price, making some individuals think that their real estate taxes will also decrease. However, all that actually happens is that the taxing authorities raise the rate taxed per assessed dollar, so again the individual takes the brunt of the pain.
Corporate greed, combined with governmental "spin" and inability to create a system to protect the average American during these times, has made these economic times trying, at best, for most Americans. We have laws known as usury laws, that protect consumers against unfair loan practices, where greedy loaners charge excessive interest for loaning money. Isn't corporate greed simply another form of usury, with even worse ramifications to the country and its economic health and well-being.
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