By The FirstRadical Senator Elizabeth Warren baffled users on social media Thursday when she suggested the nation’s staggering inflation rate was the fault of “giant corporations.”
Apparently for Miss Warren “giant corporations” began to exist after the election of Joe Biden.
“One clear explanation for higher inflation? Giant corporations are exploiting their market power to further raise prices. And corporate executives are bragging about their higher profits. We need to boost competition and break up these monopolies to bring down prices,” posted the Democrat on social media.
“The fed printed $7 trillion in a year and everyone is shocked about inflation?” asked one her her followers.
New data released Thursday shows most American families are spending an additional $250 a month due to rising inflation, a staggering yearly figure for those struggling during the covid pandemic and stagnant economic recovery.
“The average U.S. household is spending an additional $250 a month because of inflation that is rising at its fastest rate in 40 years, a new economic analysis showed. The squeeze stems from higher prices across a range of products and services, including cars, gasoline, furniture and groceries,” reports the Wall Street Journal.
“A lot of people are hurting because of high inflation. $250 a month—that’s a big burden,” said Ryan Sweet, a senior economist at Moody’s Analytics. “It really hammers home the point of ‘what is the cost of inflation?’”
