Return of the Greedy Corporation....Excuses

Gerald Ford's pleas to Whip Inflation Now failed,
as did his 1976 election campaign. (Ad Age)

As predictable as the sun rising in the East, Democrats are blaming inflation on corporate greed.

White House officials said Mr. Biden would continue publicly calling out industries that he believes are raking in large profits while raising prices for consumers, amid calls from some of Mr. Biden’s outside advisers to respond aggressively to inflation to counter mounting criticism from Republicans.

Sen. Elizabeth Warren adds her two cents:

Wondering why your Thanksgiving groceries cost more this year? It’s because greedy corporations are charging Americans extra just to keep their stock prices high. This is outrageous.

Through the Bush, Obama, and Trump Administrations inflation ranged between negative 0.4% and 3.8%. For the past several months inflation has run above 5%. [bold added]

The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—increased in October by 6.2% from a year ago. That was the fastest 12-month pace since 1990 and the fifth straight month of inflation above 5%.

The core price index, which excludes the often-volatile categories of food and energy, climbed 4.6% in October from a year earlier, higher than September’s 4% rise and the largest increase since 1991.

(GIF from rebloggy)

Not only have "greedy corporations" failed to raise prices significantly for the previous 20 years, boardroom avarice has been dampened by the growing emphasis on "stakeholder capitalism" and Environmental, Social, and Governance goals. In my humble opinion--and I'm no economist--business is not to blame for high prices.

And inflation is not the fault of the government, as those in charge of government have said.

It's truly a puzzlement.