Corporate profits hit record-highs, yet price hikes won’t stop.

Why?

Well, in 75% of US industries, fewer companies control more of the business than 20 years ago.

Little-to-no competition allows a price gouging free-for-all.

Corporate monopolies get rich, and we pay the tab.

@rbreich

Had a message from a digital service provider to inform that ‘because inflation’ my monthly charge will increase by 18pc plus inflation, and if inflation is below zero it’ll increase by 16pc.

They’re not even trying to pretend it’s anything other than extortion now.

@rbreich They also lay off thousands of employees every time their profits dip the slightest.
@rbreich capitalism working exactly as intended.