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Higher grocery prices ARE a result of greedflation, investigation shows: [View all]
https://www.wral.com/story/wral-investigates-greedflation-and-other-drivers-behind-inflation-at-the-grocery-store/21380917/MY PERSONAL TAKE: Some people blame "government spending" but really, this now 5-yearlong campaign to jack up prices is at this point just plain GREEDFLATION. The author offers NO explanation other than the usual pablum ("ah.. well, bird flu and.. ah, well...Ukraine....blah blah) but no REAL REASONS other than corporate GREED as to why prices are high. They DO mention corporate profits which were already historically high and now are even higher than they've been in over 50 years. So, yep. It's just GREED. As for what consumers can do? Stop buying the stuff you like to eat of course. Those favorite snacks that no one else makes? Yea, stop eating those. Buy beans and rice and peanut butter. Are prices going to go back down? Zero chance. Because corporate GREED pays (well it pays the billionaires, it costs the rest of us our fortunes or forces us to diets of peanut butter and beans/rice).
As prices continue to rise, a rising number of Americans think corporate greed is the real driver. One recent poll showed 59% of people believe in so-called "greedflation." Corporate greed is now tied with government spending in the public's perception of what's behind inflation.
"They're in the business to make money," says Gerald Cohen, the chief economist at UNC's Kenan Flagler business school. For years, WRAL Investigates has tracked corporate quarterly and annual earnings reports.
Cohen says that and other data do prove companies are making more.
"That kind of share that we’ve seen, around 17.5% of output goes to corporate profits, is higher than the average of the last 50-plus years," Cohen said.
"They're in the business to make money," says Gerald Cohen, the chief economist at UNC's Kenan Flagler business school. For years, WRAL Investigates has tracked corporate quarterly and annual earnings reports.
Cohen says that and other data do prove companies are making more.
"That kind of share that we’ve seen, around 17.5% of output goes to corporate profits, is higher than the average of the last 50-plus years," Cohen said.
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