The nation’s largest egg producer saw profits rise 600 percent last year. A U.S. Senate candidate's family business was found liable in an egg price-fixing scheme. This often isn’t inflation. It’s price gouging.

@georgetakei indeed there have been legit investigations that found 60% of all US inflation was not caused by supply chain issues or anything like that, it was caused by corporate price gouging to boost profits.

https://www.npr.org/2023/05/19/1177180972/economists-are-reconsidering-how-much-corporate-profits-drive-inflation

@enmodo @georgetakei which makes that not inflation despite how the media covers it, when it’s acknowledged at all.

@SailorDisco @georgetakei unfortunately the people who compute the retail price index and other statistics don't make that distinction. But ultimately the effect inflation is just as damaging regardless of cause.

It's kind of like the unemployment figures which during the Obama presidency Trump famously decried as completely fake because they don't count people who don't want to work or have given up looking. That is true but ultimately the statistic tracks a useful number.

@SailorDisco @georgetakei of course I wish other statistics and causal information were commonly researched and reported by not only government websites lay people rarely ever visit.

Ultimately all we have to look at is corporate profits, worker productivity, and real wages to see whatever the other numbers the vast majority of us are getting screwed.