Today's jobs report should cause alarm, by @RBReich robertreich.substack.com/p/todays-jobs-…
The economy is in imminent danger of slowing—as the Dec job numbers reveal. Many Americans will soon need extra help since they can no longer count on extra unemployment benefits, stimulus payments, or additional child tax credits. This isn't the time to put on the fiscal brakes.
Yes, supply bottlenecks have caused the costs of some components and materials to rise. But large corporations have been using these rising costs to justify increasing their own prices when there’s no reason for them to do so.
Corporate profits are at a record high.
Corporate profits are at a record high.
Policymakers at the Fed and in Congress continue to disregard the elephant in the room – the power of large corporations to raise prices. As a result, they’re on the way to hurting the people who have been taking it on the chin for decades – average working people.
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