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> The trouble is that a large chunk of the media has basically lied about this and told people that no, they'd be able to consume just as much as before if it w
by naasking 4y ago
> The trouble is that a large chunk of the media has basically lied about this and told people that no, they'd be able to consume just as much as before if it wasn't for the evil profiteering corporations and the mega-rich stealing from them
Not a lie at all, corporate profits are the largest driving factor behind inflation over the past couple of years:
https://www.epi.org/blog/corporate-profits-have-contributed-disproportionately-to-inflation-how-should-policymakers-respond/ https://www.epi.org/blog/corporate-profits-have-contributed-...
- Workaccount2 4y agoCorporations are always greedy and always trying to maximize the amount of money they can get for their goods and services. This has been true since forever. Corporations raising prices is a response to inflation, not the cause of it. When the levy breaks and the town floods, don't blame the river for being a river. Blame the engineers that built the levy.
- naasking 4y ago> Corporations raising prices is a response to inflation, not the cause of it. Sorry, that's wrong. Corporations are taking advantage of the perception of supply chain disruptions to excuse price gouging. Supply chain shortages led to a 1-2% bump in inflation pushing it to 3-4%. Corporations then bumped prices 3-4% which raised inflation even more, pushing it to 7-9%. If corporations were raising prices in response to increases in costs, their profits would remain flat or only slightly increase. That's not what the data shows.