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.”

  • 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