Caught On Tape
Business leaders are admitting the real cause of consumer inflation: corporate greed
“It’s very interesting,” says Warren Buffett. “We’re raising prices… and it’s being accepted.”
“We’ve been successful at driving prices,” says Kellogg CEO Steve Cahillane, as the company reported a gain in gross profits. Cahillane told Wall Street that an increase “price elasticity” was helping him increase prices without losing sales.
John Catsimatidis, President of Gristedes and D’Agostino supermarkets, spelled it out on CNBC: “You know how CEOs are on Wall Street. They live quarter by quarter… So what are the CEOs doing? They’re raising prices. I see food prices going up. Promotions are down to zero. Why give away something when you don’t have to give it away and you make more margin?”
Those quotes are all contained in this new video from the non-profit More Perfect Union, narrated by Judd Legum, which details exactly how “business leaders are admitting that corporations are using the narrative of hyperinflation as an excuse to raise prices on you—and increase profits for themselves.”
It’s a story that Rupert Murdoch’s Wall Street Journal readers already know. But it’s not exactly what Murdoch is telling his Fox News viewers as he gets them hyped up about “Bidenflation.”
Just one more reminder that, if you heard it on Fox News, you’re definitely not getting the whole story.
More Perfect Union is a new nonprofit media org with a mission to empower working people. Learn more here: http://perfectunion.us/
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