Re:U.S. annual inflation rate drops to 8.5%
by phkahler on Wednesday August 10, 2022 @04:00PM
(#32417595)
>> And their stock is up 30% in the same timeframe. That's not inflation hitting supply chains, that's just corporate greed
You're assuming the stock price reflects increased profit. I don't doubt that, but it is not a given. IMHO the stock market has been going up for 20 years due to the 401K plan thing - the highest income people are indiscriminately dumping part of their pay into mutual funds every month. This is part of the reason white-collar jobs were more protected during covid, while hourly folks got told to stay home. If they made people with 401K stop working the market would have collapsed.
You're assuming the stock price reflects increased profit. I don't doubt that, but it is not a given. IMHO the stock market has been going up for 20 years due to the 401K plan thing - the highest income people are indiscriminately dumping part of their pay into mutual funds every month. This is part of the reason white-collar jobs were more protected during covid, while hourly folks got told to stay home. If they made people with 401K stop working the market would have collapsed.