"Inflation is not about the dude at Arby's who got a 50 cent raise 3 months ago or a $1400 check 3 years ago. It's about corporations making record profits by ripping-off Americans so CEOs can spend trillions on stock buybacks & dividends. It's about corporate greed, boss."
~ Warren Gunnels, re: Kathy Jones saying, "Corporate profits rose to a new all time high in Q4 of 2023"
"General Mills just paid a $300 million dividend to investors, bought back $150 million in stock to enrich execs and investors and pays its CEO $16 million. It makes 2.1 billion a year in profit.
It is raising prices on cereals 20% and blaming 'inflation.'"
Key takeaways from Judd Legum's latest on the corporate profit bonanza:
"In the last three months of 2023, after-tax corporate profits reached an all-time high of $2.8 trillion."
"Theoretically, this should not happen. Corporations should not be able to dramatically increase their profit margins by increasing prices because competitors should step in with lower prices and steal market share."
@wdlindsy Just replace inflation with Capitalization… 🤔 It’s been reported that most of the inflation we have experienced is artificial, opportunist gouging business practices.