LizzieNDec 13, 2022
Robert Reich

RT @[email protected]

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.

🐦🔗: https://twitter.com/RBReich/status/1602439231363682304

Robert Reich on Twitter

“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.”

Twitter
Dec 13, 2022 at 6:20pmWeb
Show threadJames SayerDec 13, 2022
@rbreich They can't anger their corporate masters, or they'll be out on their asses.
Show threadFirehead - Dr. CJ WalkerDec 13, 2022
@rbreich I mean, I *don’t* like by acknowledging that. Deplorable!
Show threadcostrikeDec 13, 2022
@rbreich how many guesses do I get?
Show threadNeftali DlcDec 13, 2022
@rbreich leave the bird app my friend, posting there makes Musk stronger, they sell data traffic.
Show threadrsjmDec 13, 2022
@rbreich we have huge corporate profits and the largest defense budget ever, inflation and gas dropping AND the economy is terrible? What am I missing?
Show threadPro-Democracy Coalition GuyDec 13, 2022

@rbreich

Gas prices in California have fallen $1.80 since election day.
We got played by the Oligarchy

Show threadGwhizDec 13, 2022
@rbreich can someone explain how trickle down is supposed to work again??
Show threadTimothyDec 13, 2022
@Gwhiz @rbreich it works great if you’re the trickler.
Show threadCarrieB ☕🐱 📚Dec 13, 2022
@rbreich Here's the thing. The average person is not going to really care about how much profit a corporation made, other than the 'holy cow that's a lot' stage. What the people want to know are answers to the following questions:
1. How much is the lowest level employee's NET pay?
2. Do those employees get FULL benefits?
3. Do they get vacation time, sick leave, maternity leave and holiday leave?
4. Are these corporations helping their employees who may need it?
THAT is what people care about.
Show threadSteve GriffinDec 13, 2022
@rbreich The corporate media?
Show threadGayle RobbinsDec 13, 2022
@rbreich
The reporting on inflation always circles back to jobs and wages but never stops along the way to discuss record corporate profits. Economists don't like to talk about greed and windfall profits because those aren't in their textbooks but they ARE a factor in the real world.
Show threadPaul ErbachDec 13, 2022
@rbreich , Because all of the major MSM ourlets are also large corporations which exist because of the ad revenue obtained from other large corporations. So, yeah, they’re all in on it.
Show threadDan LannomDec 13, 2022

@rbreich

I've seen models where price is set as a percentage of cost. This would automatically increase profits per transactions when costs increase. Do we know which corporations increase prices faster than costs? Do we have good examples of how much retail prices increase due to company profits?

Show threadTanziersDec 13, 2022
@rbreich they won’t talk about it. They are part of it
Show threaddion kroslackDec 13, 2022
@rbreich 🤬
Show threadTomGregoryDec 13, 2022
@rbreich MSNBC did a segment where one of the reporters talked about how the price of eggs continues to increase. Luckily another reporter stepped in and pointed out the egg prices have been increasing due to the bird flu but that may have been lost in the confusion the first reporter created.