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.”

  • BenLeMan@lemmy.world
    27·
    1 year ago

    And so people say we gotta tighten our belts and work just a little harder. Like in the good old days. We don’t want any handouts, do we? Do it for our country.

    I literally saw someone quote JFKs “ask not what your country can do for you” yesterday, opposing a raise of social security payouts here in Germany. A raise that was necessitated by the galloping inflation which is hitting poor families the hardest. Coupled with an unwillingness of corporate management to adequately pay their workers, i.e. pay the very people who are making stock indices rise to record heights.

    People are stupid. Mark my words, we will have a fascist government again soon. Because it’s all the brown people’s fault, so they say. And the queers and the removed and the intellectuals, so they must all be purged.

    Never again, we used to say here. Well, we’re almost there.

    • Flying Squid@lemmy.world
      101·
      1 year ago

      I wish I lived in a country that raised social security payments to lift people out of poverty. Sadly, I live in the U.S. where, apparently, if you’re poor, it’s your fault.