Peter Durfee
Robert ReichExxon just reported record profits for the first quarter of this year, raking in $11.43 billion. The oil giant now has $33 billion cash on hand.
Say it with me, corporate greed is driving inflation, not workers demanding better wages and benefits.
Jon Foreman@rbreich they should have to buy us all solar panels. Play stupid games, win stupid prizes.
Badwolf303@rbreich How much in taxpayer funded subsidies has #Exxon received this year? Does the $11.43 billion include those or is that extra profit? #oil #BigOilKnew #environment #capitalistcrimes #plunder #america #gop
Chris Raymond@rbreich Oh it's all those gas station attendants unionizing 😂
Carolannie@rbreich Meanwhile Powell and McCarthy trying to engineer a recession to help Trump/other Republicans win in '24: "See Mom, 2 neat tricks to screw up the economy"
DanS@rbreich Damn. 33B in the right hands (i.e. not Exxon and its syncophants) could make life on this planet better.
Michael RothW E.....N E E D........F R E E........H O U S I N G
then everything else will be unimportant
JackEnrod@rbreich The entire premise of the great American society is nothing more than a facade.
TC Won't Give In To Lies
Sam Adams@rbreich Meanwhile gas prices in my hometown are $3.4339 to $3.459 for regular, up from less than $3 in the fall.
Nicole ParsonsIt's unknown how much of that $33 billion is being used to buy the leadership of democracies to thwart climate action and to keep tax cuts, loopholes, & corporate welfare.
We need to pass Sen. Sheldon Whitehouse's DISCLOSE Act.
We need to know who is funding a seditious conspiracy.
Republican billionaire donors, foreign & domestic, funded a malign influence campaign to prolong a profitable pandemic.
They funded a coup attempt,
& gun violence.
& attacks on civil rights & voting.
bassplayer@rbreich Corporate greed, while being evil, has less impact on inflation than the monetary policy of the Federal Reserve and Treasury. Seems a bit disingenuous to say otherwise.
Steve Popovich@bassplayer except that corporate greed at least appears to be driving Fed policies. Who, except corporations, does intentionally throwing millions of people into unemployment benefit?
@sspopovich It's my understanding that layoffs are the result of corporations anticipating unfavorable market conditions which usually are a result of higher interest rates. Gensler has repeatedly said unemployment is too low. The only knob he has is interest rates. Some indicators have recently been favorable but I'm anticipating another 25 basis points and more layoffs. Don't get me wrong corporate greed is bad but I see the Fed and Treasury with their fingers on the scale
@sspopovich FDIC bailed out SVB and another more recently. That money comes from somewhere.
SamHughes@rbreich
Well the only way you will deal with corporate greed for government to have controlling interest in all businesses. Taxing will only drive the companies elsewhere along with jobs. Any suggestions?
Well the only way you will deal with corporate greed for government to have controlling interest in all businesses. Taxing will only drive the companies elsewhere along with jobs. Any suggestions?
Southern Leftist@rbreich
Upon closer inspection, it is axiomatic that inflation is driven by corporate vice.
Lower tariffs, regulate the private sector, and ensure that the GOP (even its moderates) do not screw us over.
onecaliberal@rbreich But I had to PAY and don’t even make 6 figures. Wtf
BodlingMaybe they're just saving up to buy a formerly huge social media site from the last guy who bought it.
Extinction (our fate)@rbreich Those are ill-gotten gains. Takings from nature, from indigenous peoples, and from the public. Every service they provide except cleanup of their damage should be suspended and all $33 bil put in a cleanup fund.
Threadbane@rbreich
They couldn't have done it without your tax dollars going straight into corporate perks, bonuses and cash on hand.
They couldn't have done it without your tax dollars going straight into corporate perks, bonuses and cash on hand.
DamnKimberlee@rbreich people feel too overwhelmed to do anything about it. We should make it easier to fix the problem. The source is the corporate corruption and political corruption. The people pay the bills and the ransom!
INPC@rbreich corporate greed along with huge amounts of money generated, all of which filters up into assets, not productivity or fun.
Johnny Ragadoo@rbreich You don't think $32 trillion in debt is inflationary? If you had 32 trillion dollar bills laid end to end, they would stretch from Earth to the sun. And back. 16 times. With enough left over for about 155 round trips to the moon.
If you filled the 145,000 cubic feet of the Goodyear blimp with tightly compressed dollar bills, six stories high and a couple of hundred feet long, you could pay the interest on the debt - for about 140 hours.
The dollar is dying. I think you helped.
McHollander | Celtic Folk Bard@rbreich Inflation is driven by money creation exceeding the economic growth.
Corporate greed is the part where the corporations want all of that money on top of already having more than their fair share of the economic output to begin with. And they use inflation to scare workers into not righteously demanding their wages are compensated.
Hal Aetus