GREEDFLATION: PUT THE BLAME WHERE IT BELONGS.‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs. But after falling from its blistering pace in 2022, consumer inflation has gotten stubbornly stuck in the 3% range—rising unexpectedly for the last two months even as wholesalers’ prices stay flat or fall. That is greedflation’s music, offering a clear bit of evidence that excessive profit-taking is happening above the raw cost of goods. More than half of the consumer price price increases in the middle of last year were due to excessive profits.Corporate profits drove 53% of inflation during the second and third quarters of 2023 and more than one-third since the start of the pandemic, tThat’s a massive jump from the four decades prior to the pandemic, when profits drove just 11% of price growth.Businesses were really, really quick, when input costs went up, to pass that on to consumers. [But] had they only passed on those increases, inflation would have been maybe one to three points lower.
Just a quick note regarding high prices and gouging: isn’t it funny that the folks complaining most about high prices are the same folks who most vociferously oppose any sort of regulation?
MAYBE IF HANAS HAD JUST STAYED HOME LAST OCTOBER? EVERY TIME THEY ATTACK ISREAL THEY GET THEIR A$$E$ HANDED TO THEM AND , LIKE TRUMPUTIN, THE CRY “UNFAIR”.
2023 Hamas-led attack on IsraelMilitary conflictOn 7 October 2023, Hamas and several other Palestinian militant groups launched coordinated armed incursions from the Gaza Strip into the Gaza envelope of southern Israel, the first invasion of Israeli territory since the 1948 Arab–Israeli War. Wikipedia
GREEDFLATION: PUT THE BLAME WHERE IT BELONGS.‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs. But after falling from its blistering pace in 2022, consumer inflation has gotten stubbornly stuck in the 3% range—rising unexpectedly for the last two months even as wholesalers’ prices stay flat or fall. That is greedflation’s music, offering a clear bit of evidence that excessive profit-taking is happening above the raw cost of goods. More than half of the consumer price price increases in the middle of last year were due to excessive profits.Corporate profits drove 53% of inflation during the second and third quarters of 2023 and more than one-third since the start of the pandemic, tThat’s a massive jump from the four decades prior to the pandemic, when profits drove just 11% of price growth.Businesses were really, really quick, when input costs went up, to pass that on to consumers. [But] had they only passed on those increases, inflation would have been maybe one to three points lower.