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Corporate profits were biggest driver of inflation in Europe, IMF admits
(geopoliticaleconomy.com)
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.
It all starts to make sense when you realize the job of Fed, IMF, and all central banks is to maintain a high rate of asset inflation while keeping wages down. Presumably you would like to think these bankers have some idea of what they are doing to achieve this. Media plays the dumb face to keep the facade up. I refuse to believe these people are completely ignorant of actual economic principles.
They are ignorant of what they are paid to be ignorant of