The January consumer price index, which measures changes in the cost of food, housing, gasoline, utilities, and other goods, rose by 7.5% over the past 12 months. It marked the largest inflation surge in 40 years. The skyrocketing prices of grocery staples, home goods, beauty products, gas, and so on are forcing more and more Americans to change their shopping habits. But low-income families are affected the most, and the increases in groceries and gas prices are the main driver of the growing inequality gap.
Recently, economics and data expert Dr. Lindsay Owens has shared an illuminating explanation on Twitter about how corporate greed affects us all. “As you read today’s inflation report, pay close attention to what the CEOs who set prices are saying. We got our hands on the latest batch of earnings reports, and it’s a doozy,” Owens wrote in a thread on February 10 that has since gone viral.
According to her, the corporate CEOs are bragging to investors on earnings calls about unnecessarily hiking up their prices in order to cash in while everyone is blaming the problem on inflation and stimulus checks.
She then shared a couple of concrete examples, citing names of companies who are doing that. Read on below for the full thread which will surely make you wonder… How are they getting away with this?
Economics and data expert Lindsay Owens shared an illuminating thread that explains how greedy CEOs are bragging about hiking prices while hiding behind inflation
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Image credits: owenslindsay1
Image credits: owenslindsay1
Image credits: owenslindsay1
Image credits: owenslindsay1
Image credits: owenslindsay1
Image credits: owenslindsay1
Many people agreed with Dr. Owens’s arguments
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Others, however, disagreed and shared what they thought about the whole situation
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The post "Ruthless Profit-Rigging Schemes": Economist Exposes How Greedy CEOs Use Inflation As A Cover To Spike The Prices first appeared on Bored Panda.
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