Biden’s economy

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:And yet, it hasn't reverted. The stores have kept the prices high and the manufacturers have implemented "shrinkflation" so we are getting less for our money, and somehow, the right blames Biden.

This is capitalism without guardrails and will only get worse as the right continues to remove those "pesky" regulations that protect consumers and worker safety.

And when certain goods can't be sold at the higher price, they simply disappear altogether.

That is called capitalism.

No. It's called inflation.

No, it's called price gouging.

It's called the law of supply and demand. If a good is scarce and desired, its price goes up. If people are unwilling to pay the higher price, they buy a substitute or do without altogether, and the price comes down to a level people are willing to pay. If enough people desire the good and are willing to pay, other sellers will come into the market to profit from high prices, but eventually the greater supply will bring the price down.

Well explain this then: Food prices have gone up by more than 20%. So what happened, did food production become more scarce and decrease by 20% (haven't seen any reports to corroborate this), or did consumption increase and somehow we're suddenly now all eating 20% more food than before (totally bizarre).

Supply and demand doesn't answer it. Or is your "it's all just supply and demand" just a glib smoke-and-mirrors answer?

I say YES, it's a smoke-and-mirrors answer and that's not just my opinion, it's an opinion shared by a lot of other people who've done their homework: https://accountable.us/americans-suffer-food-insecurity-as-top-food-companies-pad-profits/

Corporate food price gouging is in fact happening. Do better.

You have to factor in inflation as well into supply and demand. Producers need to make above their costs of inputs. When the price of the latter go up due to inflation, producers have to recoup their costs through higher prices.

A company can in effect price gouge, but that is not sustainable. Others come into the market at lower prices and take their business, at which point the company has to lower prices if it wishes to stay in business.

A group of companies can collude on prices, but that is illegal in large part because it distorts supply and demand and efficient price discovery.

Yes but some of the main factors contributing to inflation during the pandemic were fuel, not enough workers, and for things depending on chicken or eggs, the bird flu but those have since been sorted out - but prices are still high. But what's clear to see is that corporate profits are high. When profits are high, prices CAN come down. They are at this point CHOOSING to keep prices high.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:https://www.biden-mart.com/

Now show a chart of how much corporate profits have increased between now and then.

Here you go!
https://fred.stlouisfed.org/series/CP

From 2 trillion pre-pandemic to 3 trillion post pandemic. 50% increase.

That pretty tells the story of how a big chunk of the inflation is being driven by corporate greed and that the excess cost is going to corporations as profits.

[Anonymous]

Bidenomics:

📈 Higher prices
📉 Lower real wages
📈 Record credit card debt
📉 Depleted savings
📉 Drained 401(k)s

Americans are worse off. It’s not hard to see why.

[Anonymous]

Anonymous wrote:Bidenomics:

📈 Higher prices
📉 Lower real wages
📈 Record credit card debt
📉 Depleted savings
📉 Drained 401(k)s

Americans are worse off. It’s not hard to see why.

Typical MAGA claptrap.

[Anonymous]

Anonymous wrote:Bidenomics:

📈 Higher prices
📉 Lower real wages
📈 Record credit card debt
📉 Depleted savings
📉 Drained 401(k)s

Americans are worse off. It’s not hard to see why.

Is it fair to say that you'll be voting in another Republican Recession?

[Anonymous]

The nationwide average for regular gas is $3.54/gal — up 20 cents in the last month and almost 50% since Biden took office.

Many states are seeing average prices well above $4/gal.

Bidenomics is working!

[Anonymous]

Anonymous wrote:

Anonymous wrote:Bidenomics:

📈 Higher prices
📉 Lower real wages
📈 Record credit card debt
📉 Depleted savings
📉 Drained 401(k)s

Americans are worse off. It’s not hard to see why.

Is it fair to say that you'll be voting in another Republican Recession?

The economy is great as long as you think the death of the American dream is acceptable.

https://www.bankrate.com/real-estate/home-affordability-in-current-housing-market-study/

[Anonymous]

Anonymous wrote:The nationwide average for regular gas is $3.54/gal — up 20 cents in the last month and almost 50% since Biden took office.

Many states are seeing average prices well above $4/gal.

Bidenomics is working!

Please show me where the average price of gas was $1.75 in 2020.

[Anonymous]

Anonymous wrote:The nationwide average for regular gas is $3.54/gal — up 20 cents in the last month and almost 50% since Biden took office.

Many states are seeing average prices well above $4/gal.

Bidenomics is working!

US Cancels Latest Oil Reserve Refill Plan Amid High Prices

By Ari Natter and Lucia Kassai
April 2, 2024 at 8:47 PM EDT

https://www.bloomberg.com/news/articles/2024-04-03/us-cancels-latest-oil-reserve-refill-plan-amid-high-prices

[Anonymous]

So the president sets gas prices? Interesting theory.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Bidenomics:

📈 Higher prices
📉 Lower real wages
📈 Record credit card debt
📉 Depleted savings
📉 Drained 401(k)s

Americans are worse off. It’s not hard to see why.

Is it fair to say that you'll be voting in another Republican Recession?

The economy is great as long as you think the death of the American dream is acceptable.

https://www.bankrate.com/real-estate/home-affordability-in-current-housing-market-study/

Why do you think the current state of economics is Biden’s fault? You think he created and implemented trickle down economics? You think he killed American manufacturing? You think he helped cause the death by a thousand cuts of the middle class?

[Anonymous]

Mod Pizza closes 27 restaurants.

[Anonymous]

California Pizza Hut franchises to lay off more than 1,100 delivery drivers ahead of wage hike

https://www.latimes.com/california/story/2023-12-27/california-pizza-hut-franchises-to-lay-off-more-than-1-000-delivery-drivers


I was told the companies would not layoff or pass employment costs on to their customers?

[Anonymous]

Anonymous wrote:California Pizza Hut franchises to lay off more than 1,100 delivery drivers ahead of wage hike

https://www.latimes.com/california/story/2023-12-27/california-pizza-hut-franchises-to-lay-off-more-than-1-000-delivery-drivers


I was told the companies would not layoff or pass employment costs on to their customers?

Pizza Hut is garbage and they are laying off drivers because UberEats and the like have replaced them.

[Anonymous]

Anonymous wrote:

The economy is great as long as you think the death of the American dream is acceptable.

https://www.bankrate.com/real-estate/home-affordability-in-current-housing-market-study/

Interesting because the number of new businesses formed in the US has been up significantly.

https://www.commerceinstitute.com/new-businesses-started-every-year/

On average, there are 4.7 million businesses started every year.

Under Biden, it is over 5.3 Million.

That isn't the death of the American Dream, now, is it?