Corporate Price Gouging
The United States boasts the lowest inflation rate of the OECD nations, and that rate is holding steady at about 3.5%.
Yet the common American is having trouble affording basic goods and services. Perhaps that’s because of record corporate profits, a phenomenon that the business world seems to be acknowledging.
It appears we’re seeing the same witlessly vicious snowball effect that occurred during the Great Depression during which tens of thousands of citizens ended up starving in the streets:
Prices are hiked up to the point where people can’t afford products; sales start to drop; businesses cut both staff and quality; customers are lost and more people can’t afford products; businesses consolidate and monopolies result; staff is cut further; prices rise further; more people can’t afford products… etcetera, etcetera, etcetera…
This foolish cruelty is then politely termed “the business cycle.”