Thank Corporate Greed for Inflation & Supply Chain Problems

The right loves to Biden to blame for the recent rise in inflation. But what’s the real cause? Massive factory shutdowns (due to COVID) in China and the supply chain crisis that’s has made it more expensive and slower to move goods around the world. But if one thinks President Biden is the cause, that’s an incredibly limited understanding.

Beyond COVID related supply bottlenecks, and problems with global logistics networks, we also have a familiar agent of chaos: corporate greed. After years with almost no inflation (outside of housing costs, medical costs, college tuition, and a few other sectors), suddenly everything is costing more and more each day.

While corporations are bemoaning inflation in public, and “reluctantly” raising prices on the consumer, in their reports to Wall St. they are championing the record breaking profits they have been seeing. Corporations are seizing the moment to cynically pad their bottom line and make the green line go up on wall street, while everyone else is forced to bear the cost.

And rather than try and shift the supply chain away from China and short sighted on-demand logistics, they’re shunting the costs to consumers and average Americans.

Recorded March 20th, 2022

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Thanks to Max Inhoff, Ellie Hoffman, and Alexandra Ornes, Paige Omek

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