From Fortune:

Albert Edwards of Societe Generale predicts the end of capitalism due to “greedflation,” with consumer inflation stubbornly stuck at 3% despite flat wholesale prices. Progressive economists found that more than half of consumer price increases were due to excessive profits, contributing to a jump in inflation from 7-9% instead of the 5-7% range. Corporate profits are at record highs, driving 53% of inflation, and companies are not interested in reversing their price-raising strategies. The Federal Reserve has also found corporate profits contributing to price growth, and Societe Generale’s Edwards warns that corporate greed could lead to social unrest and calls for price controls. Outside the U.S., corporations and governments have pushed back against price hikes.



Read more: Consumer prices pushed up mostly by corporate profits, new Groundwork Collaborative study finds