[Blame Game] “Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows”
December 8, 2023
“…The report from the IPPR and Common Wealth thinktanks found that business profits rose by 30% among UK-listed firms, driven by just 11% of firms that made super-profits based on their ability to push through stellar price increases – often dubbed greedflation.
Excessive profits were even larger in the US, where many important sections of the economy are dominated by a few powerful companies. This surge in profits happened as wage increases largely failed to keep pace with inflation, and workers suffered their largest fall in disposable incomes since the second world war…”
See the bold? When does this ever happen during a recession? No, no, no, don’t blame companies for the FED’s doing. It’s not big business fault the government decided to create so much money. The creation of money is driving inflation and cutting energy is driving this recession. It’s the government that is mostly responsible. That’s not to say big business didn’t take advantage.