‘Pitchforks Are Coming:’ Public Unrest if Inflation Continues By for Children’s Health Defense
Political commentator Kim Iversen warned rising corporate profits combined with higher prices and empty shelves will create a consumer backlash against corporations and fundamentally change the way the people view the government.
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.”
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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.”
She singled out the oil industry, saying, “We know that while gas prices are taking a toll on working people, 25 of the world’s biggest fossil fuel corporations are reaping in record profits … [and] oil giant BP, for example, has hit its highest profits in eight years.”
According to Iversen, corporations are using “the slight inflation that we did see in the beginning” as an excuse to hike prices over the long term.
She said:
“If you combine the supply-chain problems with the energy price increases with the corporate greed, you’ve basically explained all of the inflation that we’ve experienced.”
Iversen cited a March 29 MSNBC tweet that questioned why Americans are dissatisfied with this “booming economy:”
President Biden’s approval rating has fallen to lowest level of his presidency despite booming economy, according to new NBC News poll.https://t.co/EsazBMZpYY
— MSNBC (@MSNBC) March 30, 2022
She then cited journalist David Sirota’s Twitter response to MSNBC:
it’s almost as if the “booming” economy is great for billionaires but doesn’t satisfy millions of people being crushed by Democrats’ corporate donors who are fleecing the non-rich with ever-higher prices for health care, housing, energy and other necessities… https://t.co/YKzQs0CYSE
— David Sirota (@davidsirota) March 30, 2022
