Post-COVID there were not cries about inflation. And yet "...in the two years to June 30, 2022, US corporate profits swelled by 75%—around five times faster than the inflation rate—with the three megaretailers among the chief beneficiaries.
"Since 2021, consumer prices in the United States have risen by more than 20%, with prices jumping by 7% in 2021, 6.5% in 2022, and a further 3.4% in 2023.
In the eurozone, meanwhile, a report also published in June 2023 by the International Monetary Fund (IMF) found that 45% of the inflation that transpired in the single currency area between the first quarter (Q1) of 2022 and Q1 2023 was attributable to domestic profits.
In June, Casey sent letters to Amazon, Target, and Walmart detailing concerns that their pricing regimes in recent years have been motivated by excessively aggressive efforts to maximise profits at the expense of ordinary Americans.
US Senator Bob Casey Jr. (Pennsylvania), the most outwardly committed to taking on the biggest greedflation offenders, sent letters to them.
The letters noted that in the two years to June 30, 2022, US corporate profits swelled by 75%—around five times faster than the inflation rate—with the three megaretailers among the chief beneficiaries.
According to Casey, Amazon enjoyed a 61% rise in profits during the period, while Target and Walmart saw their profits grow by 31.7% and 10% , respectively."
Cut for today:
"US Inflation Is Set to Give Hints of Trump Tariff Pain to Come"
"Powell Says Trump’s Tariffs Raise Risks of Faster Inflation and Slower Growth"
https://internationalbanker.com/finance/greedflation-how-serious-a-problem-is-it-and-what-can-be-done/
Elmat: Today Trump is going to cause inflation. The media is using inflation as they used the virus as opposition tool against Trump.
In short. Today's cries about inflation is politics. |
