It’s not just 3M — companies have been taking advantage of the pandemic to gouge consumers with record price hikes. So no, it’s not actually inflation, and it’s not Joe Biden’s fault. It’s a combination of corporate monopolies and price gouging.
The company 3M, which produces N95 masks (and other things) crowed on its earnings call that “the team has done a marvelous job in driving price. Price has gone up from 0.1% to 1.4% to 2.6%." The CFO told investors, "We see that to be a tailwind." (3/7)
— Lindsay Owens, PhD (@owenslindsay1) February 10, 2022
Tyson, one of the big 4 meat monopolies Biden is targeting for price-fixing saw profits nearly DOUBLE after price hikes of 32% on beef and 20% on chicken which the CEO attributed to the "continued resilience of our multi-protein portfolio." (4/7) https://t.co/A5NExE94pe
— Lindsay Owens, PhD (@owenslindsay1) February 10, 2022
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