Half of recent US inflation due to high corporate profits, report finds

Lee Duna@lemmy.nz to News@lemmy.world – 664 points –
Half of recent US inflation due to high corporate profits, report finds
theguardian.com
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I like how every layman said that this is what was happening but in the moment you could find half a dozen 'economists' on national news networks explaining it as if it was all just normal and no one was benefiting from it. Economics is a fake science, it's not even worthy of the title social science. It's literally just learning how to justify rich peoples actions and nothing else.

Economics is just astrology but for bros in business suits and without all the fun parts of astrology.

Your thinking of the stock market. The basic principles of Economics are alive and well. Despite all the screwed up stuff the basics of supply and demand have held true the entire way.

find half a dozen ‘economists’ on national news networks

Oh, you mean that news that is owned by the very same oligarchs? Everyone should just collectively start ignoring national news. (Not trying to agitate you, dear potato, just...yeah, national news, their owners, and their 'economists' should be banned and charged with some crime for lying to the nation at every turn.)

Just like any other field of study, you can buy an expert pretty easily. It doesn't mean Economics is fake. It Means those guys got paid to say that by someone like the US Chamber of Commerce. (Which isn't a government agency, no matter how much they try to seem like one)