Walmart hiked prices on its Great Value food brands.
The result? Its net income spiked 93% to $10.5 billion towards the end of 2023.
Walmart rewarded shareholders with $5.9 billion in buybacks and dividends.
When I say price gouging is driving inflation, this is what I mean.
In most segments of our modern world's economical landscape, you either got monopolies or a few huge players. If those companies feel like milking the wage slaves for some cash to make their owners happy, they will just do that. It's capitalism, baby.
Everyone is playing this game. You just need to be born into the right family. Not that hard, is it? 🙃
Robert Reich
TobiWanKenobi