this post was submitted on 06 Nov 2024
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Under Trump in 2019 inflation was 2.3 percent. It dropped during Covid and then jumped to 7% in 2021. It has been declining ever since to 2.4% today. So a disaster, then a recovery, and people STILL think it was Bidens fault.
Price gouging is what it became and that is slowly getting better. The FTC is taking steps to help. But somehow people think "lets vote for the billionaires! Surely they have a plan to make chips 99 cents again!". We only need to deregulate and cut corporate taxes (again) and it will all be better for Johnny Six Pack!
shrug are people blaming biden for inflation? or for his lack of action against price gouging? those are two very different reasons with similar outcomes for biden and harris.
Yes. They blamed him for inflation. That is the buzzword.
Biden ordered the FTC and the DOJ to work together and fight shrinkflation, price gouging, and deceptive practices. In March!
He also went after credit card fees and deceptive and predatory loans. He said he took this on when the economy was recovering and inflation was going down.
So what are you talking about?
The FTC has been very active, deceptive practices, fraud, schemes, price gouging, data leaks, personal data protections... so many things.
I suppose that is all going to end now.
yup I'm aware. harris also refused to commit to keeping khan. So americans assuming they're aware of these facts have two signals, one from the biden admin and the other from harris herself. personally I'm going to infer from the one harris sent herself.
But remember most americans dont care and dont pay attention to presidential orders unless they're effective; and the price of milk, eggs, and cereal are still 50%, if not more, higher than they should be. so how effective was biden? Why are my kellog flakes $7 dollars when the store brand is $3? its clearly not a supply chain/manufacturing issue the products are identical. this is rhetorical for you to think about what youre saying.
The question was if they blamed Biden. Nothing to do with Harris, but since you mention it, yeah that is really troubling for Harris supporters.
I agree Americans dont pay much attention. They also are bizarrely confused about who to blame. The president doesn't set prices, companies do. There was a period of inflation put into place from Trumps tax policy in 2017 expiring to recovery acts during Covid. Prices went up. Why would a business lower them now? They are no longer going up at 7%, but the prices were coming back down.
So "Why are my kellog flakes $7 dollars when the store brand is $3"? Because people will pay for it?
and thats why biden's admin is at historically low approval. like you he was unwilling to take the steps he needed to take to stop the gouging. its why he was ousted and harris lost.
not because of their policies that were ineffective. but because they wouldn't fight. they wouldn't fight for workers, they wouldn't fight for arabs.
Except he did do something. Like we discussed previously. But nobody cares. If he had done price fixing they would have complained about that. But nobody wants to talk about how Trump put this all into motion in 2017 by signing the the tax bill.
And exactly what SHOULD be done if a company wants to charge $7 for their cereal? Perhaps if you didn't want it to be $7 you wouldn't buy it. But here we are, blame someone else for their lack of self control. Harris would have given money to a small business that wanted to make quality cereal at an affordable price to get it off the ground. But they wouldn't go for that either.
Their is no solution to stupid. That is why she lost.
In the end the prices of food today are NOTHING compared to what they will be. We have droughts in all states but 2 right now. Tarrifs are going to limit imports so we are going to rely on local farms that are going to start really seeing the effects of climate change, that are only going to be made worse by poor environmental policy and increased carbon emissions. The stupid have spoken. They want to be told things will be fixed: when the only thing that will be fixed is an acceleration of money up. Like always. Kamala may not have fixed that, but at least she wasn't going to put it on the fast track.
there was a solution. biden just wasnt willing to do it and neither are you. you're not even willing to discuss breaking up monopolies, applying huge windfall taxes on over priced goods, mobilizing the government agencies in creative ways to address the problem. and kellogs is a monopoly.
now please get back on track. this conversation bores me. I certainly stopped buying the $7 dollar cereal age ago. I was simply demonstrating the price gouging still going on. Your lack of creativity in addressing bad actors isn't my problem nor does it resolve the issue with democratic party being an absolute dumpster fire when it comes to campaigning.
Your like an abused significant other clinging to your partner. 'they arent always this way!' sometimes you just need to let them go. which is essentially what happened to the democrats this election.
So how far are you going to move the goalposts in our conversation? This all started with "did they blame Biden for inflation". Yes, yes they did. That was all we were talking about. You moved it to something else. He at least was doing something.
I have no love for democrats so stop with the abused significant other crap.
At least Kamala wanted to change the tax structure for the wealthiest, but that wasnt good enough.
By the way, in that chart, you claim Kellogs is a monopoly. But they are only one of the ten, so....
I am amused that the that the headline reads "These 10 companies control everything you buy". Because I buy none of those products. But chances are the people we are talking about that ask why their cereal is so expensive do.
But here is where we probably agree: If Biden said "I am going to break up the top 10 companies to get competition (never mind that several are not US companies)" the investors, the banks, the newspapers that are ran by them, would all have articles and opinion pieces on how Biden is trying to be socialist and un-american. The people that didn't like him before REALLY wont like him now.
I don't think he would have, he knows where his political donations come from. We can all talk about how they really fucked up by not going far enough left. But to bring this back to the original conversation: even when he took some steps in the right direction, he never was going to get credit for it and their would always be something to complain about to make sure people didnt think about it too hard.
Goal posts haven't been moved. People blamed biden for inflation. We both agree on this.
You're the one insisting i defend their views. I have no interest in doing so. Ive given you some reasons you keep insisting they're invalid. Shrug thats a you problem. Personally I dont give a donkeys ass about what bankers and investors think. Have a good day.