“There’s this wild disconnect between what people are experiencing and what economists are experiencing,” says Nikki Cimino, a recruiter in Denver.
Hey, somebody’s gotta pay for the highest corporate profits in 70 years.
Important to note:
Companies aren’t just raising prices enough to cover costs, they’re padding their margins on top.
Just saying that their profit is higher means nothing because of inflation. Inflation will mean that their profits are more often than not the highest they have ever been every year. But the highest margins? That shows they are price gouging.
If you want to know how bad we’re being fucked, search for the PPI, the producer price index. CPI, the one we always hear about, is the measure of inflation to us, the consumer. The PPI is the measure of inflation to producers, what they pay for goods and services to produce the goods and services we buy.
The PPI has been back to “normal” for a while now. Pretty much as soon as the post COVID logistics issues were mostly ironed out. The difference between PPI and CPI changes is almost all profit.
We don’t get daily articles on the PPI though, I wonder why.
Tell people about PPI whenever you can, online or off, the more people know, the better. It’s easy enough to say inflation is just down to greed but being able to back it up by comparing two simple charts will help people really understand.
I couldn’t find a comparable historical CPI chart on the BLS website, just a 12 month average and historical data by region. Are you able to find something to compare that chart to? It’s kind of difficult to grasp intuitively (without a comparison, that is).
Exactly that. On average the economy is doing fine but it’s skewed very heavily towards the top and nothing much for the 90%. The median income is actually decreasing.
I would LOVE to see a source on this, but I have a feeling I already know where it is coming from.
Yes, bottom 10% are doing better and the top 10%. That means the middle is getting hollowed out and the whole thing turns into a very divided society. That’s not a good thing.