I was cleaning out an old bookshelf and came across this 2003 Grizzly catalog. Coincidentally, I’d just received a 2023 mailer. I was shocked by the increases in price.
Some highlights:
Standard 14" band saw: $375 vs. $800
Standard 6" jointer: $400 vs. $900
4-piece Bessey K-body clamp set: $150 vs. $350
I know nothing about how inflation works, so I’m not sure whether this tracks with the price of bread or whatever, but it was eye-opening.
Not inflation it is greedflation, when companies make record profit and the CEO’s are paid 1000 times their employees with 8 digit bonuses, stocks continue to grow and stay positive, that is not inflation it is greedflation.
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Nobody has extra cash in their pockets so where did all that printed money go…?
Wait a minute… You’re not still living large off your stimulus funds from 3 years ago? Cause according to a few financial “gurus” on cable TV, we’re all living it up like Scrooge McDuck.
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It was a way to transfer money from the lower/middle class to the already wealthy elite. Notice how every big industry since Covid came has had “record profits”?
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It’s capitalisms fault. The workers should own the means of production, not some retarded nepo baby born to be a ceo.
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Good for you
So what caused the inflation in the entire world? Surely a couple of stimulus checks for people in the United States of America couldn’t cause worldwide inflation. I know the us is a big deal, but… they don’t control the entire worlds economy, right?
The stimulus contributed about 3% toward US inflation. Yet inflation was 7% YOY last year. I’m no economist, but it doesn’t seem that you’ve got correct information here. Where are you getting the information that us stimulus checks caused worldwide inflation?
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Was this the output of a chatbot?
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Why would I respond to a bunch of vague generalizations about how inflation works written by an LLM that doesn’t even have access to information from the last few years?
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Soooo… not the stimulus?
I’d be surprised if Grizzly’s CEO were making that kind of multiplier vs. the average employee.
I think some of it might be Grizzly gaining legitimacy as a power tool manufacturer. Their earlier reputation (deserved or not) would have been closer to that of Harbor Freight’s today. Now they’re known to be a solid brand and they can charge a little more.
That doesn’t account for the Besseys, which are off the fuckin’ wall.
It’s privately owned, so impossible to say. Revenue estimates are between 100 And $500m annually. Even if the owner doesn’t draw much salary they likely retained most of not all ownership of the company unless they had to cut in others to grow since founding. They look older so may be close to selling and cashing out(going public) for their generational paycheck, or might keep it in the family if they want, either way their compensation will be perversely inflated vs. what employees make, it’s just the way the system is designed.