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That's not how the economy works, Joe! Biden demands supermarkets cut high grocery prices
Posted on 2/4/24 at 9:19 am
Posted on 2/4/24 at 9:19 am
Link to article
Joe Biden has suggested supermarkets should defy the laws of supply and demand to lower soaring prices that threaten his chances of re-election.
'There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,' he said at a speech in South Carolina last week.
'Americans, we're tired of being played for suckers and that's why we're going to keep these guys - keep on them and get the prices down.'
White House aides told The New York Times that Biden was taking aim at supermarkets - and that more is to come.
A 16 percent rise in the cost of eggs, milk and other staples over the past two years has put pressure on many Americans who have complained that they're struggling with the cost of living, despite a strong overall economy.
But prices in supermarket aisles have been turbocharged by inflation, soaring demand and supply chain issues - none of which store bosses can control.
While Biden remains aware that prices are too high, it seems he has little solution within America's system but to complain about it to the retailers, who are facing higher profit margins themselves.
Joe Biden has suggested supermarkets should defy the laws of supply and demand to lower soaring prices that threaten his chances of re-election.
'There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,' he said at a speech in South Carolina last week.
'Americans, we're tired of being played for suckers and that's why we're going to keep these guys - keep on them and get the prices down.'
White House aides told The New York Times that Biden was taking aim at supermarkets - and that more is to come.
A 16 percent rise in the cost of eggs, milk and other staples over the past two years has put pressure on many Americans who have complained that they're struggling with the cost of living, despite a strong overall economy.
But prices in supermarket aisles have been turbocharged by inflation, soaring demand and supply chain issues - none of which store bosses can control.
While Biden remains aware that prices are too high, it seems he has little solution within America's system but to complain about it to the retailers, who are facing higher profit margins themselves.
Posted on 2/4/24 at 9:41 am to Placekicker
Greedflation
Something tells me we’re going to be hearing this incessantly from every dem for the next 10 months.
Something tells me we’re going to be hearing this incessantly from every dem for the next 10 months.
Posted on 2/4/24 at 9:44 am to Placekicker
quote:
A 16 percent rise in the cost of eggs, milk and other staples over the past two years has put pressure on many Americans who have complained that they're struggling with the cost of living, despite a strong overall economy.
Only 16%? It seems like a hell of a lot more than that
Posted on 2/4/24 at 9:46 am to jennyjones
quote:
Only 16%? It seems like a hell of a lot more than that
Agreed. Seems to be more in the 25-30% range to me.
Posted on 2/4/24 at 9:56 am to Placekicker
quote:
complained that they're struggling with the cost of living, despite a strong overall economy.
You cant believe any economic numbers put out by this Administration. The Easter Bunny is more real.
Posted on 2/4/24 at 9:57 am to Placekicker
Command economies are the tools of totalitarians.
Posted on 2/4/24 at 10:00 am to Placekicker
Just like Marxists to shoot the last guy in the supply chain.
Posted on 2/4/24 at 10:01 am to TigerAllNightLong
“You have two cows.
The government shoots you and distributes them to someone who needs them more.”
The government shoots you and distributes them to someone who needs them more.”
Posted on 2/4/24 at 10:01 am to jennyjones
quote:
Only 16%? It seems like a hell of a lot more than that
The article says last 2 years
That's January 2022.
The transitory inflation started 3 years ago.
Data manipulation as always
Posted on 2/4/24 at 10:04 am to Placekicker
The biggest “corporation” that is ripping people off is the federal government
Posted on 2/4/24 at 10:08 am to Placekicker
He could help lower costs by abolishing the minimum wage.
Posted on 2/4/24 at 10:11 am to Placekicker
(no message)
This post was edited on 2/4/24 at 10:13 am
Posted on 2/4/24 at 10:27 am to TrueTiger
quote:
He could help lower costs by abolishing the minimum wage.
He'll respond by demanding the MW be raised to 25$.
When it passes, people making MW will wonder why they're paying 45$ for a gallon of milk. Oh wait, nevermind. Their SNAP benefits will just be increased by 2000% and they'll continue to buy Dr. Pepper by the vat, entire pallets of sugary cereals, lobster, steak and the whole Little Debbie aisle. They don't care about the cost of milk because they get it for free.
The people most affected by tremendous inflation in food prices are the working/middle class. This has always been the case. And it's all by design, to shrink the middle class and ultimately leave only the wealthy elites and the poors.
Posted on 2/4/24 at 10:27 am to SingleMalt1973
quote:
The Easter Bunny is more real.
Indeed.
Posted on 2/4/24 at 10:33 am to Placekicker
Wal-Mart has a 2.55% profit margin. What does he want them to do? Trim it to 1% because of his shitty policies?
Posted on 2/4/24 at 10:34 am to Robin Masters
quote:
Greedflation
Something tells me we’re going to be hearing this incessantly from every dem for the next 10 months.
Do you think this isn't happening to some extent? Because it certainly is.
Posted on 2/4/24 at 10:40 am to Robin Masters
I’ve been arguing with a “Harvard” grad on X for days about greedy oil companies. I told him all the money is really from the oil which is a publically traded commodity so they just sell as much oil as they can to take advantage of higher prices. He then tried to say they are making the money on gas, gouging us at the pumps. I told him gas was also a traded commodity and he told me it wasn’t, so I sent a link to the commodities market to show he was wrong. Then a link to show a majority of XOM revenues were downstream, but 61% of their profit was upstream, proving to him it was the “Oil” that made most of the money.
Then he pulls out a number that profit margins on gasoline were around 7% pre-COVID and over 10% post-COVID, as proof of price gouging by big oil. No links, I guess his fancy degree is enough proof, but I admitted that I’m just an engineer so my Economics isn’t as strong as some, but could inflation possibly cause the difference, since 10% profit today may be equivalent to 7% a few years ago due to the devaluation of the dollar! He could only attack my LSU education because he never had any real answers for me.
Then he pulls out a number that profit margins on gasoline were around 7% pre-COVID and over 10% post-COVID, as proof of price gouging by big oil. No links, I guess his fancy degree is enough proof, but I admitted that I’m just an engineer so my Economics isn’t as strong as some, but could inflation possibly cause the difference, since 10% profit today may be equivalent to 7% a few years ago due to the devaluation of the dollar! He could only attack my LSU education because he never had any real answers for me.
Posted on 2/4/24 at 10:40 am to Placekicker
Supermarkets could lower their prices if they didn't have to absorb all the shoplifting by democrats.
Posted on 2/4/24 at 10:47 am to Zach
“Food deserts”.
Because the Bedouins are stealing everything not nailed down at the oasis.
Because the Bedouins are stealing everything not nailed down at the oasis.
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