Corporate profits hit all-time highs
Funny how inflation is always the fault of working people.
Overall corporate pre-tax profits (excluding the Federal Reserve Banks), jumped by 3.4% in Q3 from Q2, and by 5.5% year-over-year, to a record seasonally adjusted annual rate of $3.45 trillion, fueled by profit spikes in a number of industries whose figures the Bureau of Economic Analysis released today, and we’ll get to them in a moment...
Surging profitability during a period of big inflation is a sign that companies have leveraged inflation to their advantage, hiking prices much faster than their costs went up, and thereby doing their part in fueling inflationary momentum. And they’re able to do it because their customers are willing to pay those whatever-prices.
Interestingly, the surging labor costs have so far not made a dent into these profit spikes, and they might not if companies can continue to jack up their prices faster than their costs go up, including labor costs, which is precisely how inflation is nurtured and propagated.
The primary reason that Biden is losing to Trump is because of inflation that the public is blaming on him. Of course the White House response is to claim that inflation doesn't exist.
Comments
Not that people have much of a choice in the matter.
Often it is the case with regards to food you either pay the inflated price or starve.
Exactly!
Pay the price or starve!
If you're poor now, my friend, then you'll stay poor.
These days, only the rich get given more. -- Martial book 5:81, c. AD 100 or so
Nothing ever changes -- Sima, c. AD 2020 or so
You may have noticed --
that your inflation link comes from a wingnut publication where authors throw in offhand nonsense like "The entire leftist project is unsustainable in the real world." I'm sorry, but is there a "leftist project" being enacted somewhere in America that the wingnuts would like to inform us about? Biden is not a "leftist." The Democrats are not "leftists." The wingnuts can eff off.
'French theory is a product of US cultural imperialism." -- Gabriel Rockhill
According to team Biden the economy is doing great
But not so much for the little people.
Biden tells media to start reporting ‘the right way’
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https://www.rt.com/news/589630-biden-media-reporting-right-way/
~
Just fix the messaging? Tell it like it is.
Happened under O'bummer too
The "Great Recession" was over in what, 7 months, at least for Wall St. I forget how many quarters of positive growth made it so. For the rest of us? We sucked wind for the next 6 or 7 years. Some of us still are.
The Uniparty has one cook book, with all the same recipes except at the end where they argue about religion, politics, flag waving and taste in colors, all for our benefit to continue the excuses for having elections.