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Price nostalgia. The label itself pisses me off. A simple trip to the grocery store doesn’t make you nostalgic for 2020 prices, it 1) pisses you off, and 2) makes you wonder how less fortunate folks with families can afford a trip to get groceries.
Thank your friendly large business for a sizeable chunk of inflation.
Don't fall for that bullshit.Thank your friendly large business for a sizeable chunk of inflation.
‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs
Groundwork Collective crunched Commerce Department data to find shocking greedflation results. But there’s evidence of it in a lot more places.fortune.com
Explain por favor.
What do you charge for your services?
Not enough
How much is a pair of shoes worth?
Whatever the market will bear.
"But if you exclude food, energy, and housing inflation is basically zero.". - Paul Krugman, nobel prize-winning economist
I know how inflation works, thanks.
Control for Oil and Rents and that goes away. Even looking at pre-covid trends...there is absolutely no way 53% of the 2023 CPI is due to after-tax profits. It's really bad analysis and using after-tax profits and aggregate labor cost index to derive the inference of explained variance when the underlying variable is a byproduct of dependent environment is...uh, well...you're not going to get an answer. Formal tests absolutely wreck their analysis. Just a intuitive check - simply applying pre-Covid weights/controlling for Oil/Rents/Population - after-tax variance isn't even a significant driver of the variance in inflation...it's all Oil(and a bit of Rents) variance, friendo.Thank your friendly large business for a sizeable chunk of inflation.
‘Greedflation’ caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs
Groundwork Collective crunched Commerce Department data to find shocking greedflation results. But there’s evidence of it in a lot more places.
apnews.com
Feels like everyone should have been hedged on that for over a year now...that's a massive, massive failure.This could get bumpy...
China Evergrande has been ordered to liquidate. The real estate giant owes over $300 billion
A Hong Kong court has ordered China Evergrande, the world’s most heavily indebted real estate developer, to be liquidated following a failed effort to restructure $300 billion owed to banks and bondholders that fueled fears about China’s rising debt burden.
Ding ding ding
I think my explanation is simpler but that's a better explanation of the underlying causes.
Kind of asking and answering different questions though. I would love to see the author's math b/c I don't know how you possibly begin to isolate corporate profits as a variable. More compelling point IMO is inflation in production expenses is quite a bit lower than the inflation in ultimate consumer costs.
I'm not trying to specify what the reasons behind inflation are. I think @BingoDingo probably has it summarized as well as you can from a birds eye view and in a couple of paragraphs.
