I want to look more closely at some of the headlines Nichols uses to prove his “corporate greed” argument. But he would do well to take an accounting class before pontificating on corporate finance. Nichols’ author page calls him “a pioneering political blogger.” He might be a great writer. This is how you say, “I don’t understand inflation” in one tweet. When you hear the word “inflation,” think: corporations jacking up prices to cash in on a pandemic moment in order to amplify and extend excessive profits. “Amazon Stock Soars 15% After Earnings, Will Hike Prime Membership Fee” He shared his article with the following tweet. John Nichols wrote an article for The Nation exposing what he calls “a dirty secret.” He claims the current bout of inflation is caused by corporations “jacking up prices.” That includes a lot of the people writing about inflation in mainstream and left-leaning corporate media. But corporate greed is a convenient explanation, and the narrative continues to grow because the average American doesn’t understand inflation or basic corporate accounting. It’s pretty clear there has to be something else going on. If corporations can willy-nilly raise prices and enjoy “excessive” profits, why don’t they do it all the time? Did corporations suddenly get greedy in 2021? And why did the Federal Reserve spend a decade fretting about inflation being “too low” as it struggled to hit its 2% target? Was there not enough corporate greed before coronavirus? One simply has to reason through the claim to uncover the absurdity. Elizabeth Warren has pushed this narrative hard. This has become an increasingly popular talking point on the political left. Greedy corporations are causing inflation by jacking up prices and enjoying record profits. Buying Gold & Silver with Cryptocurrency.Buy Gold the Ultimate Monetary Insurance Policy.
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