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"This isn't just happening with diapers. It's happening across our entire economy. Inflation rose 14% between July 2020 and July 2022. But corporate profits rose by 75% over those two years — five times as fast as inflation. Remember when the media said “greedflation” was a fringe theory? Now looking back, it's undeniable." Robert Reich @RBReich The price of Huggies diapers went up 6% between April- June. Inflation, right? Wrong. Kimberly-Clark, the maker of Huggies, reported that the cost to make its products fell by $75 million. They took the money and ran, banking $168 million in operating profits in Q3 2023.

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"This isn't just happening with diapers. It's happening across our entire economy. Inflation rose 14% between July 2020 and July 2022. But corporate profits rose by 75% over those two years — five times as fast as inflation. Remember when the media said “greedflation” was a fringe theory? Now looking back, it's undeniable." Robert Reich @RBReich The price of Huggies diapers went up 6% between April- June. Inflation, right? Wrong. Kimberly-Clark, the maker of Huggies, reported that the cost to make its products *fell* by $75 million. They took the money and ran, banking $168 million in operating profits in Q3 2023.
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🏳️ Ben Soule :coffefied: (retrohondajunki@mstdn.social)'s status on Thursday, 30-Nov-2023 10:26:43 JST 🏳️ Ben Soule :coffefied:

"This isn't just happening with diapers. It's happening across our entire economy. Inflation rose 14% between July 2020 and July 2022. But corporate profits rose by 75% over those two years — five times as fast as inflation. Remember when the media said “greedflation” was a fringe theory? Now looking back, it's undeniable."
-Robert Reich @RBReich
#Greedflation #Capitalism

In conversation about a year ago from mstdn.social permalink