Report Confirms That Corporate Greed Is Biggest Driver Of Increased Consumer Prices

The higher prices that we're all paying for goods and services is NOT being primarily driven by inflation, according to a new analysis. Instead, more than half of the price increases that we've seen in the past two years are actually a result of corporate greed. 53% of the increase in prices is good, old fashioned unfettered capitalism at work, as CEOs and executives realized that they can charge whatever they want and people will still pay. Ring of Fire's Farron Cousins explains what's happening.

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*This transcript was generated by a third-party transcription software company, so please excuse any typos.

A fantastic new report came out last week showing that the majority of the price increases that Americans have been paying for the last two years is not in fact due to inflation. Those increased prices that you're paying when you go to the grocery store or when you fill up at the gas pump, or when you buy literally anything anywhere, you're paying a higher price than you were before the pandemic. That much is true, but 53% according to this report, 53% of that increased price you're paying is due to 100% unfettered corporate greed. That is what this study put together by the groundwork collective has proven. So yeah, we did have inflation. We still have inflation. Inflation was very high for a very long time and that caused prices to increase. But what happens when we enter these periods of hyperinflation, we don't have to speculate about what happens because many of these corporations were very open and honest with us and they told us there have been reports in the lever, there have been reports in the intercept Pap and I have talked about them repeatedly on America's lawyer, these CEOs, these corporate leaders are on the record admitting that when we enter periods of hyperinflation like we did after COVID and everything reopened, what they do is they use that as an opportunity to go ahead and just boost their prices anyway to increase their bottom lines.

So instead of, let's say if we had 10% inflation, corporations would experience 10% increase in the cost of doing business, and they pass that 10% onto us. Understandable? It sucks, but it's understandable. But instead of, okay, we've got 10% inflation, our costs increase by 10%, corporations don't raise our prices by 10%. No. They say, you know what? We're gonna raise the prices by 30%. So the the 10 points of that covers the inflation part, our increased prices, and the other 20% at the top of that, that just goes into our pockets. So then what happens? Consumers see these, you know, rapidly inflating prices. Again, you buy eggs, you buy milk, whatever it is, the price has gone up significantly. And then as inflation goes down, you know, we go from 10% inflation to 5%, the price falls 5%. So then the consumer says, oh, it's suddenly not as expensive anymore. It's still expensive, but it's not what it was because now the corporation has trained you into thinking that

This higher than it was, but lower than it had been, price is somehow okay? And that's how it works. It's happened for decades and this report spells that out very clearly. We are getting screwed by these corporate leaders. So my message here is to the Democratic Party of the United States, and I'm talking to the people that are not named Bernie Sanders and Elizabeth Warren, because they have been the leaders on calling out this corporate price gouging during times of hyperinflation. They have called for hearings. They have called these people out by name. They have called these people out to their faces. I'm talking about every other Democrat in Washington DC up to and including President Biden. This report right here, this is your roadmap for 2024. You need to be talking about this. You need to be using the bully pulpit. You need to be going out there.