Political commentator Kim Iversen last week on The Hill’s “Rising” warned of coming civil unrest if inflation and supply shortages continue while corporate profits soar.
Iversen and co-hosts Ryan Grim and Robby Soave skewered BlackRock CEO Robert Kapito for complaining of “an entitled generation that has never had to make sacrifices before.”
Iversen reported that U.S. corporate profits hit a record high in the fourth quarter of 2021, jumping 25%, even as the gross domestic product dropped 6.9%.
“So, what does this mean exactly?” she asked.
“It means,” she said, “inflation is good for big businesses, which upped their prices in response to supply and labor shortages and saw profit margins increase 25% to $2.94 trillion — the largest gain since 1976.”
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