The truth behind inflation: In earnings calls, CEOs boast about raising prices & posting record profits
On this edition of Your Call, we'll discuss the truth behind inflation. The Groundwork Collaboration team has combed through hundreds of earnings calls with CEOs of major corporations and heard them bragging about raising prices and bringing in record profits. The last time corporate profits were this high was in 1950. At their peak in the 1990s, corporate profit margins were roughly half of what they are today. What will it take to address corporate greed, the real issue behind inflation?
Rakeen Mabud, chief economist and managing director of policy and research for the Groundwork Collaborative
The American Prospect: How We Broke the Supply Chain
The Nation: The Dirty Secret of Inflation: Corporations Are Jacking Up Prices and Profits
Fortune: Bernie Sanders rips McDonald’s, Starbucks, and Amazon for ‘corporate greed’ as they post huge profits and price hikes
CNBC: Tyson Foods’ higher meat prices nearly doubles profits