Americans are suffering under inflation. Biden could stop goosing inflation by spending money like a drunken sailor to fund his political allies. Or he could blame companies for the existence of inflation.
Was there any doubt Biden would go the Venezuelan route and blame companies for making up inflation?
President Joe Biden took aim at corporations Monday for charging prices he said were artificially high even though the rate of inflation has slowed and some shipping costs have fallen.
“Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price-gouging,” Biden said at the launch of a new White House supply chain initiative. “Give the American consumer a break.”
Give human intelligence a break. Inflation hasn’t “come down” and we certainly don’t have deflation so things still cost more than they used to. Costs, including labor costs, are higher for the companies he’s barraging. Democrats hype the increased labor costs as a dividend of Bidenomics and then they turn around and complain about the inflationary spiral that they’re taking credit for.
Some companies may be price gouging, but for the most part companies are struggling with increased prices on products, supply chain instability and labor costs. Nothing works the way it used to and the lack of reliability prices in costs that are hard to measure. When you can’t know that X will be there when you need it next month, businesses can’t run normally.
Retailers already know that consumers are pulling back. They don’t want that to happen. But money isn’t magic either.
This isn’t a matter of junk fees, which Biden keeps talking about. Americans aren’t struggling with resort fees at hotels or Ticketmaster charges, but with feeding their families because the price of groceries is up 20%. And you can blame consolidation in the food retail sector, the nightmarish prospect of a Kroger and Safeway merger is upon us, and your average supermarket now has a limited number of brands, many of which are either generic or Unilever, but it’s not a bunch of evil goons cackling because they decided to raise the price of eggs or milk for no reason, but a messed up economy.
Biden keeps hyping Bidenomics while blaming all the ‘bad parts’ on companies. He’s hoping Americans are that dumb. Bad news, not even his voters are that dumb.