By Jake Johnson
Federal data published Aug. 25 show that nonfinancial corporate profits in the U.S. surged to an all-time record of $2 trillion in the second quarter of 2022 as companies continued jacking up prices, pushing inflation to a 40-year high to the detriment of workers and consumers.
According to figures released by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA), corporate profit margins over the past three months were the widest they’ve been since the 1950s as ongoing price hikes pad the bottom lines of large businesses — and eat into the paychecks of employees.
“We can argue until the cows come home about the cause of inflation,” Chris Becker, senior economist at the Groundwork Collaborative, wrote in response to the new data. Read the full story: https://childrenshealthdefense.org/defender/corporate-profit-surge-record-high-inflation-cd/