Companies like Exxon Mobil, Shell, and Kraft Heinz enjoyed bumper profits as consumers struggled with historic inflation.

In April, Société Générale economist Albert Edwards released a scathing note saying he hadn’t seen anything like the current levels of corporate greed in his four decades working in finance. He said companies were using the war in Ukraine as an excuse to hike prices in search of profits.

“The end of Greedflation must surely come. Otherwise, we may be looking at the end of capitalism,” Edwards wrote. “This is a big issue for policymakers that simply cannot be ignored any longer.”

  • fine_sandy_bottom@aussie.zone
    13·
    1 year ago

    Perhaps, although a little harsh. Most people just don’t think that deeply about things.

    The accepted narrative is that inflation happens when poor people get too much money.

    Yes it’s obvious that there’s more going on if you think about it for a few moments, but no one does.