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Corporate profits were biggest driver of inflation in Europe, IMF admits
(geopoliticaleconomy.com)
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this post was submitted on 28 Jun 2023
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GenZedong
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overpricing goods reduces people's purchasing power, which could imply two things: either people dont work that much (which is not), or just the currency is just losing its value, which is the latter in this case. idk, such basic 101 economics shouldnt be strange to a regulatory and monetary entity such as the European Central Bank. and yet they let it happen, and then the IMF come and do the pikatchu face for them. sure corporations left uncheck would ruin entire economies, the same as bankers etc and they get bailed all the time, icing on the cake. china is quite the opposite in this regard.
The whole thing is pretty funny given that IMF has been the eternal champion of neoliberalism, and all of a sudden they come out and go woah woah corporate profits are actually a problem. You know shit got out of hand when...
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