JBS, the meat packing giant, paid $52.5 million to settle a federal price-fixing lawsuit last week.
JBS, Tyson Foods, Cargill, and National Beef make up more than 80% of the US beef market.
A foursome of meat packing CEO’s playing a round of golf could very easily agree to set the price of a T-bone steak and a pot roast.
The four major meat packers told the court that “supply and demand” dictated the price of beef and not “price-fixing.”
(Tyson, Cargill and National Beef have yet to settle with the government.)
The government claimed that beginning in 2015, JBS, Tyson, Cargil (a multiple repeat offender) and National Beef colluded in limiting the number of cows being slaughtered reducing the supply of beef and increasing its price causing inflation.
So much for the Capitalist’s theoretical concepts of the “invisible hand” and “supply and demand.”
Over the strident objections of the Republicans the American people have succeeded in passing laws and putting regulations in place meant to protect us from be robbed blind by greedy, corrupt Capitalist corporations of all kinds.
JBS, the meat packing giant, paid $52.5 million to settle a federal price-fixing lawsuit last week.
JBS, Tyson Foods, Cargill, and National Beef make up more than 80% of the US beef market.
A foursome of meat packing CEO’s playing a round of golf could very easily agree to set the price of a T-bone steak and a pot roast.
The four major meat packers told the court that “supply and demand” dictated the price of beef and not “price-fixing.”
(Tyson, Cargill and National Beef have yet to settle with the government.)
The government claimed that beginning in 2015, JBS, Tyson, Cargil (a multiple repeat offender) and National Beef colluded in limiting the number of cows being slaughtered reducing the supply of beef and increasing its price causing inflation.
So much for the Capitalist’s theoretical concepts of the “invisible hand” and “supply and demand.”
Over the strident objections of the Republicans the American people have succeeded in passing laws and putting regulations in place meant to protect us from be robbed blind by greedy, corrupt Capitalist corporations of all kinds.