this post was submitted on 30 Aug 2023
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Free investor money ran out with the higher interest rates. The higher interest rates that were made to combat inflation, which again are mostly because of corporate greed.
Basically wages were going up, workers were getting a bigger slice of the pie against corporate profits - not that profits were dropping mind you, just not going up as fast as wages for a bit. So corporations as a block decided that the shock from supply chain distruptions means they get to raise prices. Somehow supply chain disruptions didn't show up on the bottom line though, so they got to make record profit, but we got record inflation. The gutted governments instead of taxing the windfall profits, because they can't do that because politics, were just watching as central banks increased interest rates that clobbered wages back.
It's just the system in action, when the 200 oligarchs holding the reins in America decide the workers of the "free world" have a bit too much, they crank up prices, which decreases wages even beyond the effect of said price increases.