Ozlilly33Dec 13, 2022
Robert Reich

Why didn't any of the latest inflation reporting mention that corporate profits just hit a record high?

Corporate profits reached $2.08 TRILLION in the 3rd quarter.

Corporate greed is playing a role in driving up prices — and the media will hardly talk about it.

Dec 12, 2022 at 11:08pmWeb
Show threadDane RyanDec 12, 2022
@rbreich The media is controlled by those same corporations. Independent journalism is hard to reach.
Show threadNeilDec 12, 2022
@rbreich Most media outlets are corporate properties so they've a vested interest in not calling attention to this.
Show threadBill RhodesDec 12, 2022
@rbreich a role? A role!? They ARE the inflationary driver's.
Show threadDebideauxDec 12, 2022
@rbreich MSM is doing a big disservice to us by not mentioning this. But then MSM is corporate too.
Show threadJoel De RoseDec 12, 2022
@rbreich the media is run by the corporations. So much distraction is being written by the new reporters. We must change this paradigm if America is to come back.
Show threadLBSDec 12, 2022
@rbreich The media IS corporate greed. It's all corporate owned.
Show threadIan’s Still European tooDec 12, 2022
@rbreich Same in here in the UK and incredible profits being made by energy companies massive windfalls despite record high prices for consumers dressed up as UKrainian war impact which interns of supply has nothing to do most supplies to Uk !
Show threadmarkDec 12, 2022
@rbreich Well, it is partly because this is a complicated question. Some mainstream media sources do look at it, but fair-minded economists can disagree on what's really driving inflation. This is a pretty good article that discusses multiple drivers and theories well putting things in context. https://www.npr.org/2022/11/29/1139342874/corporate-greed-and-the-inflation-mystery
The mystery of rising prices. Are greedy corporations to blame for inflation?

Inflation has been pushing prices up all year, but economists and politicians don't agree on where it's coming from.

NPR
Show threadMichael BakerDec 13, 2022
@markrvickers @rbreich Thanks. Good article.
Show threadMaynard G.KrebbsDec 12, 2022
@rbreich unfortunately for us, the MSM are corporations that rely on other corporations for their advertising revenue and everyone knows a dog won't bite the hand that feeds it.
Show threadrmabennettDec 12, 2022
@rbreich or the RBA
Show threadJeffDec 12, 2022
@rbreich inflatable being driven by large political contributions to GQP
Show threadTanziersDec 12, 2022
@rbreich tax the rich.
Show thread"Extinct" OncelerDec 12, 2022
@rbreich "The media" is the wrong way to say it. "The corporate media", "the corporate-owned media," "the billionaire-playground media" might be better.
Show threadSunnySideUpDec 12, 2022
@rbreich The msm loves the turmoil caused by Qpublicans vs democrats. The actual news means nothing compared to the revenue raised from advertising because of the turmoil. Corporations are not our friends
Show threadTessa (36of47)  🏳️‍⚧️Dec 12, 2022
@rbreich It's almost like big media corporations don't want to act against the interests of big corporations.
Show threadJulia HarveyDec 13, 2022
@rbreich same in Australia. Major supermarkets and banks still making record profits.
Show threadSilentwolfDec 13, 2022

@rbreich

Time to regulate the corporations!!!

Show threadSandy JohnsonDec 13, 2022
@rbreich Because it might expose the tricksters behind the curtain.
Show threadarun sriniDec 13, 2022
@rbreich Murdoch ?
Show threadSilentwolfDec 13, 2022

@rbreich

Greed!!!!

Show threadPhotoist♾️Dec 13, 2022
@rbreich
Because thise same corporations spend millions in advertising dollars on news platforms.
Show threadNomNomDePloomDec 13, 2022
@rbreich and driving devastating climate change catastrophe 😥😱
Show threadToni M.Dec 13, 2022
@rbreich
because corporate profits have nothing to do with inflation. isn't it - the economy? 🤔
Show threadEndemicEarthlingDec 13, 2022
@rbreich Because the reporting is owned by some of the same corporate interests that are profiteering at record rates during a huge cost of living crisis?
Show threadask330 🪨🦣Dec 13, 2022
@rbreich media is owned by corporate apologists
Show threadcatserv109Dec 13, 2022
@rbreich Why, it's almost as if our "media" is somehow beholden to the rich and powerful??
Show threadsodalisDec 13, 2022
@rbreich The billionaires, and the politicians they own, will keep squeezing us until we squeeze back.
Show threadAndyHDec 13, 2022

@rbreich

Also, their MASSIVE tax cut in 2017.

Why are we still giving subsidies to big oil?

Show threadXucaen ☮️💚🌿Dec 13, 2022
@rbreich media is owned by the rich corporations.
Show threadonecaliberalDec 13, 2022
@rbreich They can’t say that part out loud.
Show threadDebby RyanDec 13, 2022
@rbreich maybe because the media is supported (and tainted) by ads… and the wheel goes round and round!
Show threadRaving_SanityDec 13, 2022
@rbreich The demise of the local newspaper. All the big ones are owned by billionaires
Show threadBrianDec 13, 2022

@rbreich

It's not greed. Companies aren't ethical entities. As you must know, public companies are required to maximize profits for the shareholders. It's the system that's the problem

Show threadニルス・スキニールDec 13, 2022
@rbreich Media companies are large parts of the corporate greed. Don't get me started on how they feed off each other to rob us!
Show threadkbkorbDec 13, 2022

@rbreich

Guess who owns the main media players?

Show threadNumber SevenDec 13, 2022
@rbreich Reference, Umberto Eco's book, 'Travels in The Hyper Real'. The Chapter on, 'New Feudalism'. Eco's analysis made in the Reagan/Thatcher Era. Postulates, 'Corporations' Take over, 'Govenments' taking on the 'Power of Robber Barron's in the, 'Middle Ages'.
Show threadNumber SevenDec 13, 2022
@rbreich 'The Ununited States & 'Brexit' La La Land. Are under the thrall of 'Great Leap Backwarders, 'New' Feudalists'. Like, Mark Twain puts it, "The Heaven of the rich is built on the Hell of the poor".
Show threadPoliticalPuffin in the UKDec 13, 2022

@rbreich Requires at least one of: a) a bit of hard work b) having to down size the mistresses second Bahamas property c) having a spine d) having some skin in the game.

I suspect option d would make a world of difference.

Show threadBrian DeViteriDec 13, 2022
@rbreich All while many #SmallBusinesses are still trying to “recover” from the last 2-3 years. Most will never regain those losses.
Show threadShaneLeeDec 13, 2022
@rbreich we don’t have a free press. The US Privately Owned Media manages what is published to meet the “Owners” politics.
Show threadMozzieBytes 𓆤 ☸️ 😷Dec 13, 2022
@rbreich They have us slated as slaves. Well, more slaves than we already are. AI will dictate that is a necessity for increased productivity. We and our labour will become nigh worthless, What will that make us?
Show threadNick in NYDec 13, 2022
@rbreich Isn’t corporate profits, in and of itself, reaching a new high, not the actual issue? Imagine that corporate profits in aggregate increased only $1 for the next several decades. It would keep your statement true, while actually masking an an increasingly ever poor corporate performance. Not trying to be pedantic. There is a problem. Unsure if corporate profits is really it.
Show threadgunnard  Dec 13, 2022
@rbreich how dare companies make money! The audacity!!!
Show threadMike's Corner of MundanityDec 13, 2022
@rbreich Because most of the media is owned by said corporations.
Show threadJJDec 13, 2022
@rbreich They never like to hit us with ALL the actual facts! Knowledge is power..
Show threadJohn7088Dec 13, 2022
@rbreich
They made a killing during COVID. I mean the Walmart family was able to but the Denver Broncos.
Show threadChris MingusDec 19, 2022
@rbreich because the corporations own the media. It’s a very crooked system.