‘We may be looking at the end of capitalism’: One of the world’s oldest and largest investment banks warns ‘Greedflation’ has gone too far

Société Générale’s Albert Edwards says “something seems to have broken with capitalism.”

Highlights

Albert Edwards, a global strategist at the 159-year-old bank Société Générale, just released a blistering note on the phenomenon that has come to be called Greedflation.
After four decades of working in finance, Edwards wrote that he’s never seen anything like the “unprecedented” and “astonishing” levels of corporate Greed inflation in this economic cycle.
He added that he fears the ‘super-normal profit margins” of corporations in the U.S.
and abroad could eventually “inflame social unrest” if consumers continue to struggle with inflation.

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