- cross-posted to:
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- cross-posted to:
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In April, Société Générale economist Albert Edwards released a scathing note saying he hadn’t seen anything like the current levels of corporate greed in his four decades working in finance. He said companies were using the war in Ukraine as an excuse to hike prices in search of profits.
“The end of Greedflation must surely come. Otherwise, we may be looking at the end of capitalism,” Edwards wrote. “This is a big issue for policymakers that simply cannot be ignored any longer.”
Same in Portugal. A 100 escudo coin was actually quite similar to the 1 euro coin but it was worth half. In one year what costed 100 escudos was now 1 euro. A 100% price increase.