‘Greedflation’ study finds many companies were lying to you about inflation - eviltoast
Companies like Exxon Mobil, Shell, and Kraft Heinz enjoyed bumper profits as consumers struggled with historic inflation.

In April, Société Générale economist Albert Edwards released a scathing note saying he hadn’t seen anything like the current levels of corporate greed in his four decades working in finance. He said companies were using the war in Ukraine as an excuse to hike prices in search of profits.

“The end of Greedflation must surely come. Otherwise, we may be looking at the end of capitalism,” Edwards wrote. “This is a big issue for policymakers that simply cannot be ignored any longer.”

  • rockSlayer@lemmy.world
    131·
    1 year ago

    Accelerationism is a fucking dogshit ideology, but just like all dogshit ideologies, there’s an element of truth to it. Shit like this could literally end capitalism.

    • Uranium3006@kbin.social
      15·
      1 year ago

      if you literally break the economy to the point where average people can’t afford necessities, it’s over. people won’t work if there isn’t food and a roof as rewards. they’ll be forced to seek those needs outside the system. many will die in this process but none will work for capitalist profit

    • Zorque@kbin.social
      154·
      1 year ago

      The thing is, it’s an inevitability of capitalism. When you have a system who’s measurement of success is how much material wealth you can accumulate, people are going to do their best to accumulate as much wealth as possible. Which means putting basic needs on the back burner if they don’t make you enough money.

      • Cylusthevirus@kbin.social
        22·
        1 year ago

        I think people wanting stuff is pretty much endemic to people, whatever economic system happens to be in place.

        • Instigate@aussie.zone
          8·
          1 year ago

          True, but capitalism incentivises wanting beyond what you can possibly use. Billionaires could never genuinely spend all of their money on themselves. It’s human to want what you don’t have; it’s inhuman to want to amass more than you could use by taking it from the mouths of others.