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.”

  • @EmpathicVagrant
    55•5 months ago

    The shoplifting lie was posted yesterday I believe. Both are repeated articles that have just constantly been found to be true, but nobody has the energy to even be mad because we’re so busy trying to survive.

    • @cheese_greater
      38•5 months ago

      Not really sure what the tenor is of your reply but I would just say they steal a lot from us (shrinkflation, price-fixing, straight up lying about amount of product in unit, etc), people steal some of that back. Sunrise, sunset

      Edit: on the retail side, a lot of those businesses are abusing the social safety net to reduce the amount they pay and socialize the losses while bitching their privatized profits would be higher if it wasn’t for all the socialized theft that was occuring on their watch!

      • @rockSlayer
        37•5 months ago

        Don’t forget that wage theft outstrips all other forms of theft combined

        • @cheese_greater
          24•5 months ago

          And its basically only ever dealt with on the dime of the victim and only civilly where it vastly exceeds the dollar value threshold required for big boy criminal charges on the part of the non-person person (person/non-corporation)

          • Instigate
            7•5 months ago

            Australia is in the process of passing a law that criminalises wage theft - very much looking forward to our government taking actual theft seriously. I’m looking forward to seeing unscrupulous bosses and CEOs in handcuffs, even though I know it’s going to be extremely rare.

            • @cheese_greater
              5•5 months ago

              Its insane its not already the case. Good on them for actually attempting to stop fucking around

        • @[email protected]
          -8•5 months ago

          I think GDP theft is the biggest form of theft. Or possibly number of atoms in the universe theft. That’s probably the biggest form of theft.

      • @[email protected]
        11•5 months ago

        straight up lying about amount of product in unit

        Just saw an article this week that shoppers in Canada were purchasing things like cereal with tens of grams less than what they were paying for.

      • @EmpathicVagrant
        7•5 months ago

        I’ve seen about four different versions of this over the last few years. It’s nothing new, much like the greedflation thing having been discussed for years.