Economy

that have gotten used to huge corporate profits from higher prices.

That garbage of "too many dollars chasing too few goods" works most efficiently in bubble markets. It also worked in Germany and Austria after WWI when their governments printed money thinking it would fix the problem of postwar inflation. We'ver just been through a massive money printing operation, ourselves, thanks to TFG's only idea being to throw money at Covid, much of which was stolen and put into the stock market. Well, now it's starting to work its magic on the larger economy, and it's one reason for the inflation we're seeing now.

Wages always lag behind inflation, so good luck to any dumbass who tries to prove the cart drags the horse.

Then again, this is the WSJ. One expects nothing less from a Murdoch rag than blaming working people for the collapse of civilization.