Posted at Hartmann Report on Nov. 2, 2022
Is Most of America’s Inflation About Monopolies, Price-Gouging, & Oil Barons Fleecing Us?
The most important takeaway from today’s inflation crisis is that we must get our corporations back under control if we’re to have an economy that works for us instead of just for the billionaires.
Lifelong Republican and Trump Fed appointee Jerome Powell is preparing to hit the American economy — American workers, in particular — upside the head with another 2x4 today. His theory is that if enough people get thrown out of work, employers will have so many folks desperate for jobs they can start cutting pay (or at least stop having to offer pay increases).
But is out-of-control pay driving inflation? There’s little evidence of that.