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.”

  • AllonzeeLV@lemmy.world
    923·
    1 year ago

    Seriously, promise?

    I and my family will take the painful collapse and rebuild, because at least that provides hope for a better future, unlike today’s path, further enriching a few thousand sociopath’s ego scores in their race to see who can burn up the the planet for private profit the fastest.

    Living under the tyranny of the greed class is just pain by design. Pain in generational perpetuity.

    • SkyeStarfall@lemmy.blahaj.zone
      17·
      1 year ago

      Yeah, seriously. The path is so obvious and linear for society today due to that. I feel like it just gets easier to predict the future, from axioms such as “the rich are powerful and will always try to expand their influence and cement their rule”.

      It’s easy to see that climate change will never be solved for as long as something big doesn’t change, wealth inequality will keep rising, it will just keep being more and more expensive to live and own things, working conditions won’t improve or may even worsen, automation will put out more and more people out of a job, creating a massive crisis, poor countries will get worse leading to wars or other crises, and ever more commercialization of everything, such as art and hobbies.

      At least, unless it collapses/a revolution happens.

    • Nonameuser678@aussie.zone
      11·
      1 year ago

      We’ve had political, social and economic revolutions before without shit collapsing. Lots of death and destruction though generally. People don’t give up power easily unfortunately.