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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 by Placekicker
Florida
Member since Jan 2016
8077 posts
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.
Posted by Robin Masters
Birmingham
Member since Jul 2010
29721 posts
Posted on 2/4/24 at 9:41 am to
Greedflation

Something tells me we’re going to be hearing this incessantly from every dem for the next 10 months.
Posted by jennyjones
New Orleans Saints Fan
Member since Apr 2006
9311 posts
Posted on 2/4/24 at 9:44 am to
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 by Placekicker
Florida
Member since Jan 2016
8077 posts
Posted on 2/4/24 at 9:46 am to
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 by SingleMalt1973
Member since Feb 2022
11896 posts
Posted on 2/4/24 at 9:56 am to
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 by udtiger
Over your left shoulder
Member since Nov 2006
98669 posts
Posted on 2/4/24 at 9:57 am to
Command economies are the tools of totalitarians.
Posted by jimmy the leg
Member since Aug 2007
34082 posts
Posted on 2/4/24 at 9:57 am to
So a command economy.
Posted by TigerAllNightLong
Member since Jul 2023
275 posts
Posted on 2/4/24 at 10:00 am to
Just like Marxists to shoot the last guy in the supply chain.
Posted by teke184
Zachary, LA
Member since Jan 2007
95198 posts
Posted on 2/4/24 at 10:01 am to
“You have two cows.

The government shoots you and distributes them to someone who needs them more.”
Posted by ksayetiger
Centenary Gents
Member since Jul 2007
68285 posts
Posted on 2/4/24 at 10:01 am to
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 by Loserman
Member since Sep 2007
21858 posts
Posted on 2/4/24 at 10:04 am to
The biggest “corporation” that is ripping people off is the federal government
Posted by TrueTiger
Chicken's most valuable
Member since Sep 2004
67768 posts
Posted on 2/4/24 at 10:08 am to
He could help lower costs by abolishing the minimum wage.
Posted by NCIS_76
Member since Jan 2021
5246 posts
Posted on 2/4/24 at 10:11 am to
(no message)
This post was edited on 2/4/24 at 10:13 am
Posted by TigerAxeOK
Where I lay my head is home.
Member since Dec 2016
24741 posts
Posted on 2/4/24 at 10:27 am to
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 by PsychTiger
Member since Jul 2004
98864 posts
Posted on 2/4/24 at 10:27 am to
quote:

The Easter Bunny is more real.


Indeed.


Posted by Broke
AKA Buttercup
Member since Sep 2006
65044 posts
Posted on 2/4/24 at 10:33 am to
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 by Powerman
Member since Jan 2004
162211 posts
Posted on 2/4/24 at 10:34 am to
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 by lsutiger90
Cottage Grove, Houston, TX
Member since May 2004
1012 posts
Posted on 2/4/24 at 10:40 am to
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.

Posted by Zach
Gizmonic Institute
Member since May 2005
112438 posts
Posted on 2/4/24 at 10:40 am to
Supermarkets could lower their prices if they didn't have to absorb all the shoplifting by democrats.
Posted by teke184
Zachary, LA
Member since Jan 2007
95198 posts
Posted on 2/4/24 at 10:47 am to
“Food deserts”.

Because the Bedouins are stealing everything not nailed down at the oasis.
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