Greedflation: How Corporations are Making Record Profits on the Backs of American Families · Stuffing Their Deep Pockets.
For the past couple of decades, corporate profits have increased faster than inflation. But that doesn’t mean that they caused inflation, or that corporate "scheming" was the primary reason.
Some analyses, including a March Federal Trade Commission report, said that corporate price hikes to increase profits were one factor behind rising consumer prices.
However, most economists PolitiFact interviewed said that rising costs for goods and labor have been inflation’s primary drivers. Studies by Federal Reserve regional banks also cast doubt on the role of corporate greed in driving inflation.
Big Food Big Pharma and Agriculture Businesses are guilty and should be called out. The less affluent households have largely depleted their pandemic stimulus checks and other savings. Meanwhile corporate earnings spike.
THE END OF THE UNITED STATES OF AMERICA? CAUSE OF DEATH : SELF-INFLICTED CORPORATE GREEDFLATION.
There are reports showing that working families across our country are paying higher prices due to greedflation, whereby big corporations use economic turmoil as cover to raise prices beyond the rate of inflation, and shrinkflation, which occurs when big corporations downsize products and raise prices.
The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets.
The median pay package for CEOs rose to $16.3 million, up 12.6%, according to data analyzed for The Associated Press by Equilar. CEOs made nearly 200 times what their workers got paid last year
https://apnews.com/article/ceo-pay-compensation-ratio-workers-fa25db333…