AmericaSpeaks TheVoiceOfJoyce It’s not wages driving inflation, it’s monopolies charging whatever price they choose. They’re making record profits and have no fear of price controls or a credible anti trust enforcement fines. Windfall taxes on industry exceeding the Consumer Price Index would be helpful. Why risk a recession, with high unemployment, when monopolies are causing inflation, because they can. There is no competition in most industrial sectors, Corporate Greed is running and ruining our Country. Where is Congressional action for temporary price controls. This was the same scenario as after WWll. Don’t repeat the 1980’s recession & consumer pain.

Posted on by jaslvr

www.theguardian.com/commentisfree/2022/sep/25/inflation-price-controls-robert-reich

Corporations are using those increasing costs – of materials, components and labor – as excuses to increase their prices even higher, resulting in bigger profits. This is why corporate profits are close to levels not seen in over half a century.

Corporations have the power to raise prices without losing customers because they face so little competition. Since the 1980s, two-thirds of all American industries have become more concentrated.

Why are grocery prices through the roof? Because just four companies control 85% of meat and poultry processing. Just one corporation sets the price for most of the nation’s seed corn. And two giant firms dominate consumer staples.

All are raising prices and increasing profits because they can.

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