Biden’s attempt to pivot from denying inflation to blaming it on corporate conspiracies follows the usual Marxist tack of focusing on profits.
Profits for some companies are high, but in an unstable economy, that’s part of the cost of doing business.
Much like a supply chain, most companies prefer consistent profits and a predictable marketplace. They seek to reduce risk, not to increase it.
High profits don’t mean a preferred state of affairs. When companies operate in an unstable environment, they need higher profits to hedge against risk and instability.
Crudely, drug dealers have high profits, but they’re in an unstable business that can get them arrested or killed.
A less extreme example would be a restaurant that raises prices, not just to account for the higher cost of supplies, but because its owner doesn’t know if she’ll be allowed to be in business next month or how high the price of anything will be next month.
High-profit margins don’t mean that the business is doing well. In some cases, they mean that the business is operating in a very risky environment and is doing its best to survive.
That’s what a lot of businesses are doing now.