Half of recent US inflation due to high corporate profits, report finds
Half of recent US inflation due to high corporate profits, report finds
Thinktank report says ‘resounding evidence’ shows companies continue to keep prices high even as their inflationary costs drop
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No fuckin way. But they said it was the cost of goods and shipping!
I herd it was cuz damn people were forcing them to pay huge wages
That's the McKinnsy foundation...
A bunch of Ivy League recent graduates who will become CEOs or politicians some day.
For American companies they get paid millions to say "you have to do layoffs and raise CEO pay, also charge customers more" regardless of what the question was.
But what they do overseas is worse. They work for dictatorships like Saudi Arabia and try to help them improve their public images and hide the horrible shit they do.
At least that's what they admit, they do a lot worse just often require their clients never mention McKinsey's involvement
Saudi Arabia threw them under the bus tho and said this:
The limitations of this model came into sharp focus recently, with the revelation that McKinsey may have inadvertently played a role in Saudi Arabia’s mistreatment of critics. On October 20th, the Times reported that the government of the Saudi crown prince, Mohammed bin Salman, had employed operatives to harass dissidents, including the Saudi journalist Jamal Khashoggi, who was allegedly murdered inside the Saudi consulate in Istanbul, on October 2nd. The article included the revelation that McKinsey had prepared a nine-page report measuring the public perception of certain Saudi economic policies, and cited three individuals who were driving much of the largely negative coverage on Twitter: a Saudi Arabia-based writer named Khalid al-Alkami, a dissident living in Canada named Omar Abdulaziz, and an anonymous writer. After the report was created, Al-Alkami was arrested, and Abdulaziz’s brothers living in Saudi Arabia were put in prison. The anonymous Twitter channel was shut down.
They literally help far right dictators harras journalists, which can lead to their deaths or torture.
You may have heard of them when it came out Pete Buttiegeig did overseas work for them.
It's why he dropped out of public eye and stopped pretending to be a progressive but I'm worried in a decade he'll be back doing it again and people might fall for it
John Oliver went over McKinsey in great detail to talk about what a shit company they are.
I was going to post this myself, glad someone else already had the same thought.
That was last time, we had a wage-price spiral. Wages went high, which pushed prices up, which pushed wages up, etc
On this occasion it is a price-nothing spiral. Prices go up, wages stay static, prices go up, etc
That was the other half.