That's not how the economy works, Joe! Biden demands supermarkets cut soaring grocery prices

[Couchpotato]

Inflation is at 3%. Read a newspaper. Raise your IQ from single digits.

I dont think you understand how inflation works.

 

[justoffal]

I dont think you understand how inflation works.

Never mind that..... They totally ignore the number that is....REAL INFLATION.... That's the one that people have to deal with every time they go to the grocery store or fill up the gas tank.... or try to pay their rent....or their incredibly high deductible on their insurance policy....or make an emergency payment on the car before it gets repossessed.

 

[The Sage of Main Street]

Explain how someone makes tens of millions on a $170,000 annual salary

The Plutes' Constitution Gave Us the Best Government Wall Street Can Buy

Whether he is a Republican or a Democrat, he is equally bribed by the corporations.

 

[justoffal]

The Plutes' Constitution Gave Us the Best Government Wall Street Can Buy

Whether he is a Republican or a Democrat, he is equally bribed by the corporations.

Hugely True

 

[Foxfyre]

Inflation is at 3%. Read a newspaper. Raise your IQ from single digits.

3% on top of what has accrued since Inauguration Day is staggering and damaging to many, maybe most Americans. (Inflation was .03% on Inauguration Day.)

Since Biden took office real disposable income adjusted for inflation is down 7.5% resulting in thousands less in buying power for American families, home ownership affordability down 37+%, credit card debt up 37+%, monthly savings down 84+%.

You see I do read what's going unlike the morons who swallow and repeat the government propaganda. I also do most of the buying for our household and see how prices are not coming down for most essentials we have to buy.

 

[justoffal]

3% on top of what has accrued since Inauguration Day is staggering and damaging to many, maybe most Americans. (Inflation was .03% on Inauguration Day.)

Since Biden took office real disposable income adjusted for inflation is down 7.5%, home ownership affordability down 37+%, credit card debt up 37+%, monthly savings down 84+%.

You see I do read what's going unlike the morons who swallow and repeat the government propaganda. I also do most of the buying for our household and see how prices are not coming down for most essentials we have to buy.

The worst part about the inflation number is that the base comparison set is constantly moving.
So 3% inflation with regard to the most recent base set is probably seven or eight percent compared to the one before it. Government numbers are totally untrustworthy which is why people are scratching their heads listening to the bullshit while they know goddamn good and well they can't afford to live.

 

[Foxfyre]

The worst part about the inflation number is that the base comparison set is constantly moving.
So 3% inflation with regard to the most recent base set is probably seven or eight percent compared to the one before it. Government numbers are totally untrustworthy which is why people are scratching their heads listening to the bullshit while they know goddamn good and well they can't afford to live.

The total amount adding all the increases in inflation together results in significant double digit inflation. Though incomes have increased, they have increased no way enough to compensate for that inflation. So, depending on whose numbers you use, the average American family has lost $5,000 to $8,000 in buying power since Biden took office. Conversely under Trump individual and family incomes AND buying power increased by thousands even factoring in the disastrous COVID year of 2020.

 

[justoffal]

The total amount adding all the increases in inflation together results in significant double digit inflation. Though incomes have increased, they have increased no way enough to compensate for that inflation. So, depending on whose numbers you use, the average American family has lost $5,000 to $8,000 in buying power since Biden took office. Conversely under Trump individual and family incomes AND buying power increased by thousands even factoring in the disastrous COVID year of 2020.

Wages increase as employers have difficulty filling positions over and over again. With the massive influx of illegal aliens the wages will go back down very soon.

When they do go up they go up by $.50 $0.75 or a buck. Oddly when that happens the individual's tax liability goes up with it so whatever they get im extra wages can sometimes leave them worse off especially if they're getting any entitlements.

In such a case a $100 a week raise could amount to a $400 a month loss overall and often does.

 

[sparky]

Hereditary Ownership Both Contradicts and Destroys Capitalism

and eats itself Sage....

~S~

 

[Synthaholic]

the one that people have to deal with every time they go to the grocery store or fill up the gas tank

well...

They just figured out that they should raise prices as much as the consumer can take?
Durr
That's business 101.
Always has been.

Stop complaining or put the blame where it belongs.

 

[justoffal]

well...

Stop complaining or put the blame where it belongs.

well...

Stop complaining or put the blame where it belongs.

You can't blame corporations for doing for their shareholders what they're supposed to do which is maximize the bottom line. We could try a government-run co-op for food which would absolutely ensure that everyone would starve to death very rapidly.

After all it's the wealth of the shareholders that the Biden administration keeps crowing about as a bellwether of the best economy in decades. Unfortunately that message does not seem to be making it all the way through to the bottom tier citizen where most of the volts lie.

So while Joe shareholder can go in and buy a 20 lb prime rib Joe stakeholder is in the same store struggling to pay for a head of lettuce. How this equates to a good economy is certainly a mystery to me.

Jo

 

[Toddsterpatriot]

well...

Stop complaining or put the blame where it belongs.

Biden's incompetence is both deep and wide.

 

[Synthaholic]

It's not price gouging when groceries only make 2 cents profit for every dollar in sale.

What is the Profit Margin for Grocery Stores? | The Grocery Store Guy

What is the profit margin for grocery stores? Conventional grocers have a profit margin of about 2.2%, but, natural, organic, and gourmet stores often . . .

thegrocerystoreguy.com

You read one thing on the internet and now that's your gospel?

 

[Synthaholic]

So predictable. If Trump said what Biden said you would agree with Trump.

They would be threatening grocery store managers and calling in bomb threats.

 

[citygator]

3% on top of what has accrued since Inauguration Day is staggering and damaging to many, maybe most Americans. (Inflation was .03% on Inauguration Day.)

Since Biden took office real disposable income adjusted for inflation is down 7.5% resulting in thousands less in buying power for American families, home ownership affordability down 37+%, credit card debt up 37+%, monthly savings down 84+%.

You see I do read what's going unlike the morons who swallow and repeat the government propaganda. I also do most of the buying for our household and see how prices are not coming down for most essentials we have to buy.

Why aren’t you smart enough to know the other part of the equation is wages which are even higher?

 

[Foxfyre]

Why aren’t you smart enough to know the other part of the equation is wages which are even higher?

I'm smart enough to be able to read ALL honest economists who agree that wages have not increased anywhere near enough to offset the inflation thus almost all middle class families have lost buying power, i.e. are significantly poorer.

 

[Greenbeard]

Since Biden took office real disposable income adjusted for inflation is down 7.5% resulting in thousands less in buying power for American families

Disposable income was deliberately propped up via government policy in 2020 and 2021. Using a more appropriate baseline (early 2020, before the pandemic), real per capita disposable income is up 5% today.

 

[Foxfyre]

Disposable income was deliberately propped up via government policy in 2020 and 2021. Using a more appropriate baseline (early 2020, before the pandemic), real per capita disposable income is up 5% today.

The government in 2020 and 2021 did pay some cash outlays to help folks who weren't allowed to work buy groceries and/or to help compensate businesses who were still paying their idle work forces. That was in both the Trump and Biden Administrations. But considering that and everything else, since January 2021 the middle class American family is underwater in buying power by more than $7,000/yr as of last August. I haven't seen an update on those figures but since prices for everyday necessities has continued to rise, I'm quite certain that hasn't changed a great deal.

 

[Greenbeard]

The government in 2020 and 2021 did pay some cash outlays to help folks who weren't allowed to work buy groceries and/or to help compensate businesses who were still paying their idle work forces. That was in both the Trump and Biden Administrations.

Do you believe pandemic-era stimulus/relief is the appropriate baseline going forward? Should we permanently reinstate those policies (e.g., eviction moratoriums, student loan pauses, government checks, etc)?

 

[Foxfyre]

Do you believe pandemic-era stimulus/relief is the appropriate baseline going forward? Should we permanently reinstate those policies (e.g., eviction moratoriums, student loan pauses, government checks, etc)?

I think the government should do as little as possible, rescind the appropriations bills for any unspent funds for anything that is not absolutely necessary at this time, and reinstate all the Trump economic and immigration policies that produced the best economy I've seen in my now very long life. The government should promote the general welfare, not provide it. The answer to the economic problems we have is to get government out of it as much as possible and let American ingenuity and work ethic fix it.