Biden's Legacy: Higher prices, less quantity, lower quality

[JGalt]

Everywhere you look the prices are higher, packages are smaller and quality seems to have gone to shit. Not to mention, there are still sporadic shortages on some things. Welcome to Joe Biden's America, folks

And is it going to get better? Joe Biden's Treasury Secretary Janet Yellen admits that prices aren't coming down, which is in direct contradiction to what she and Biden have been telling us since 2021.

Yellen: Okay Fine, High Prices Are Here to Stay​

Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren't going down, contradicting arguments repeatedly made by the Biden White House about easing inflation. In 2021, Yellen claimed inflation was "transitory."

Biden Treasury Secretary Janet Yellen: "I think most Americans know that prices are not likely to fall." pic.twitter.com/QM9fWa56NS
— RNC Research (@RNCResearch) January 29, 2024

For months officials in the Biden administration have falsely claimed prices on everyday goods and services were going down. In reality, they're getting more expensive at a slower pace.

This week, we saw more evidence that our economy is strong and inflation is falling under President Biden. pic.twitter.com/3Wlt2XAmGR
— Karine Jean-Pierre (@PressSec) January 27, 2024

During a briefing at the White House last week, Press Secretary Karine Jean Pierre had trouble explaining complaints from Biden when he purchased a smoothie that cost $6.

"Last Friday, the president was at a coffee shop in Pennsylvania, and he seemed to be surprised that the smoothie was $6 and how expensive it was," a reporter asked. "I'm curious. So is the president now realizing the costs that Americans are bearing?"

"So, look, when he went over to you all, to the press corps, he was having a good time, right? And offered, as you know, offered to buy them coffee," Jean Pierre responded. "There was a big group there, and he made sure everyone got coffee and pastries. So I just want to make that really clear."

White House Refuses to Address Biden's Surprise Over $6 Smoothie
White House Refuses to Address Biden's Surprise Over $6 Smoothie
— Townhall.com (@townhallcom) January 18, 2024

Yellen: Okay Fine, High Prices Are Here to Stay

 

[IM2]

BS. Talk to the price gougers.

 

[Toddsterpatriot]

Everywhere you look the prices are higher, packages are smaller and quality seems to have gone to shit. Not to mention, there are still sporadic shortages on some things. Welcome to Joe Biden's America, folks

And is it going to get better? Joe Biden's Treasury Secretary Janet Yellen admits that prices aren't coming down, which is in direct contradiction to what she and Biden have been telling us since 2021.

Yellen: Okay Fine, High Prices Are Here to Stay​

Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren't going down, contradicting arguments repeatedly made by the Biden White House about easing inflation. In 2021, Yellen claimed inflation was "transitory."


For months officials in the Biden administration have falsely claimed prices on everyday goods and services were going down. In reality, they're getting more expensive at a slower pace.


During a briefing at the White House last week, Press Secretary Karine Jean Pierre had trouble explaining complaints from Biden when he purchased a smoothie that cost $6.

"Last Friday, the president was at a coffee shop in Pennsylvania, and he seemed to be surprised that the smoothie was $6 and how expensive it was," a reporter asked. "I'm curious. So is the president now realizing the costs that Americans are bearing?"

"So, look, when he went over to you all, to the press corps, he was having a good time, right? And offered, as you know, offered to buy them coffee," Jean Pierre responded. "There was a big group there, and he made sure everyone got coffee and pastries. So I just want to make that really clear."



Yellen: Okay Fine, High Prices Are Here to Stay

View attachment 894845

Yeah, but at least he let in millions of illegal aliens to collect welfare.

 

[Toddsterpatriot]

BS. Talk to the price gougers.

What's "price gouging"?
How does it cause inflation?

 

[Winston]

What's "price gouging"?
How does it cause inflation?

Seriously, you don't know the definition of "price gouging"? And even worse, hell, even a five year old could understand how price gouging could exacerbate inflation. But hey, maybe screaming "price gouging" is a little over-stating the reality. However, there is no argument that corporations and companies have not taken advantage of inflation to "inflate" their margins. And yes, that has exacerbated inflation.

Corporate America Is Testing the Limits of Its Pricing Power (Published 2023)

Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.

www.nytimes.com

It's not just inflation — corporate greed is also partially to blame for the rising prices you're paying

Starbucks blamed labor costs and supply shortages for higher prices — all while increasing their CEO's pay by 40% to $20 million.

www.businessinsider.com

Bloomberg - Are you a robot?

Revealed: How powerful companies are amplifying inflation through their profit margins | IPPR

The role of ‘excess profits’ by dominant companies in exacerbating inflation is revealed in new report Driven by a small number of firms, business profits

www.ippr.org

 

[JGalt]

BS. Talk to the price gougers.

Nobody is "price gouging." In case you don't know this, labor, materials, and energy have gone up too.

And the quality of labor today is shit: Shoddy workmanship and bottom of the barrel employees who are just showing up to draw a check, because their government stimulus checks have long since ran out.

 

[Votto]

What's "price gouging"?
How does it cause inflation?

It's "the man".

For IM2, there is no such thing as inflation, it's just "the man" keeping him down who outsmarts him 24/7

 

[Winston]

Nobody is "price gouging." In case you don't know this, labor, materials, and energy have gone up too.

And the quality of labor today is shit: Shoddy workmanship and bottom of the barrel employees who are just showing up to draw a check, because their government stimulus checks have long since ran out.

Then explain why margins, and profits, have expanded dramatically.

And as a matter of fact, what we have seen is that profits are skyrocketing, which means that companies have increased prices by more than cost. In the earnings reports, companies have bragged about how they have managed to be ahead of the inflation curve, how they have managed to jack up prices more than their costs and as a result have delivered these record profits.

 

[Votto]

Nobody is "price gouging." In case you don't know this, labor, materials, and energy have gone up too.

And the quality of labor today is shit: Shoddy workmanship and bottom of the barrel employees who are just showing up to draw a check, because their government stimulus checks have long since ran out.

Not so, "the man" consistently outsmarts people like IM2, but no worries, he elects democrats who do absolutely nothing about it.

So there is that.

 

[Toddsterpatriot]

Seriously, you don't know the definition of "price gouging"? And even worse, hell, even a five year old could understand how price gouging could exacerbate inflation. But hey, maybe screaming "price gouging" is a little over-stating the reality. However, there is no argument that corporations and companies have not taken advantage of inflation to "inflate" their margins. And yes, that has exacerbated inflation.

Corporate America Is Testing the Limits of Its Pricing Power (Published 2023)

Firms may struggle to keep profits up if demand slows, but so far they are finding ways to keep margins wide.

www.nytimes.com

It's not just inflation — corporate greed is also partially to blame for the rising prices you're paying

Starbucks blamed labor costs and supply shortages for higher prices — all while increasing their CEO's pay by 40% to $20 million.

www.businessinsider.com

Bloomberg - Are you a robot?

Revealed: How powerful companies are amplifying inflation through their profit margins | IPPR

The role of ‘excess profits’ by dominant companies in exacerbating inflation is revealed in new report Driven by a small number of firms, business profits

www.ippr.org

Price gouging: Dem whining about something they made worse. See finger-pointing

And even worse, hell, even a five year old could understand how price gouging could exacerbate inflation

If Corporation A raises their prices 10%, consumers have fewer dollars to buy from Corporation B. Corporation B has to reduce prices to sell the same number of widgets.

 

[Winston]

It's "the man".

For IM2, there is no such thing as inflation, it's just "the man" keeping him down.

Actually, looks like "the man" has outsmarted you, and a lot of other people.

Five ways to ADAPT pricing to inflation

Price adjustments due to inflation call for nuanced approaches that, when done well, can strengthen customer relationships <em>and</em> overall margins.

www.mckinsey.com

If I have to explain to you who McKinsey is, and what they do, then you are not qualified to participate in this conversation. But on the off chance that you actually know the firm, let me focus attention on this,

Customers will react differently to price increases according to how price sensitive they are and how much inflation has affected the cost of the products they buy. Instead of making broad price increases that may erode customer trust and demonstrate insensitivity, companies can tailor their inflationary price increases thoughtfully for each .customer and product segment.
There has been much complaining about the prices at McDonald's. What, $16 dollar Big Mac meals and such. At the same time, there has been much attention on apps, like the McDonald's app. In fact, almost every fast food chain has an app, from McDonald's to Chic Fi La. On the surface, they claim these apps are there for increased convenience and efficiency of operation. They are blowing smoke up your ass. The sole purpose of the app is market segmentation. Again, from McKinsey

tailor their inflationary price increases thoughtfully for each .customer and product segment.

McDonald's knows, a consumer like me is not going to pay sixteen bucks for a damn Big Mac combo. But I will pay three fifty for two McDoubles, and using the app, score a free medium fry.

 

[Winston]

If Corporation A raises their prices 10%, consumers have fewer dollars to buy from Corporation B. Corporation B has to reduce prices to sell the same number of widgets.

The lack of understanding of even basic Microeconomic concepts demonstrated by the above post is beyond sad.

 

[Votto]

The lack of understanding of even basic Microeconomic concepts demonstrated by the above post is beyond sad.

So what is your remedy?

 

[Dekster]

Everywhere you look the prices are higher, packages are smaller and quality seems to have gone to shit. Not to mention, there are still sporadic shortages on some things. Welcome to Joe Biden's America, folks

And is it going to get better? Joe Biden's Treasury Secretary Janet Yellen admits that prices aren't coming down, which is in direct contradiction to what she and Biden have been telling us since 2021.

Yellen: Okay Fine, High Prices Are Here to Stay​

Speaking during an interview with ABC News Live over the weekend, Treasury Secretary Janet Yellen admitted prices aren't going down, contradicting arguments repeatedly made by the Biden White House about easing inflation. In 2021, Yellen claimed inflation was "transitory."


For months officials in the Biden administration have falsely claimed prices on everyday goods and services were going down. In reality, they're getting more expensive at a slower pace.


During a briefing at the White House last week, Press Secretary Karine Jean Pierre had trouble explaining complaints from Biden when he purchased a smoothie that cost $6.

"Last Friday, the president was at a coffee shop in Pennsylvania, and he seemed to be surprised that the smoothie was $6 and how expensive it was," a reporter asked. "I'm curious. So is the president now realizing the costs that Americans are bearing?"

"So, look, when he went over to you all, to the press corps, he was having a good time, right? And offered, as you know, offered to buy them coffee," Jean Pierre responded. "There was a big group there, and he made sure everyone got coffee and pastries. So I just want to make that really clear."



Yellen: Okay Fine, High Prices Are Here to Stay

View attachment 894845

I have some concerns about the official numbers. Totally anecdotal, but we used to get a survey every two months from the government about business conditions. when we painted it very optimistically, we remained in the list for next time but the one time we painted it as bleak as possible, we got an email that our participation had ended. LOL.

Anyway, there are all sorts of issues going on. Biden doesn't really control them, but I am more than happy to lay the political blame at his feet if it sends him packing.

 

[JGalt]

Then explain why margins, and profits, have expanded dramatically.

And as a matter of fact, what we have seen is that profits are skyrocketing, which means that companies have increased prices by more than cost. In the earnings reports, companies have bragged about how they have managed to be ahead of the inflation curve, how they have managed to jack up prices more than their costs and as a result have delivered these record profits.

Biden's economy. He and the Democrat party created this, not American corporations.

 

[Winston]

,So what is your remedy?

We have to address the elephant in the room, rent seeking. First, all income is taxed the same. Ronald Reagan was a strong proponent of that very concept. Second, stock buybacks should be eliminated, as they were prior to Ronald Reagan. It is market manipulation, plain and simple, and it needs to be stopped.

 

[Winston]

Biden's economy. He and the Democrat party created this, not American corporations.

Damn, Biden has got to be the most powerful president in American history. Hell, he controls everything. Seems to me a good reason to support his re-election because let's just be honest, Trump didn't control jack shit.

 

[80zephyr]

BS. Talk to the price gougers.

Why weren't they gouging before? Why wait until now?

 

[Toddsterpatriot]

The lack of understanding of even basic Microeconomic concepts demonstrated by the above post is beyond sad.

Poor Joe and Jerome, no matter what they do, corporations can cause inflation
by simply raising prices at the same time. DURR

 

[Toddsterpatriot]

We have to address the elephant in the room, rent seeking. First, all income is taxed the same. Ronald Reagan was a strong proponent of that very concept. Second, stock buybacks should be eliminated, as they were prior to Ronald Reagan. It is market manipulation, plain and simple, and it needs to be stopped.

First, all income is taxed the same. Ronald Reagan was a strong proponent of that very concept.

We should end double taxation?

Second, stock buybacks should be eliminated, as they were prior to Ronald Reagan. It is market manipulation

Unless they are buying and selling and buying their stock, it isn't manipulation.
If you think it's bad, as a current shareholder, when a buyback occurs, sell your shares.
If you think it's good, buy more. If you don't own any, mind your own business.