Biden Tells Companies to Lower Prices, Blames Inflation on Them

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Biden admits prices are ‘too high’ but blames sellers for inflation. He acknowledged Monday that prices are still “too high” and argued that companies should lower them, reports the NY Post.

President Joe Biden cheered the October Consumer Price Index’s climb to just under 3.2% from last year [in time for the 2024 election].

HOW’S THAT BIDENOMICS WORKING OUT?

He didn’t mention that compared to October 2020, when the US was under a COVID-induced lockdown, prices are up a whopping 18.2%.

Biden argued that companies should lower them after the 18.2% jump in consumer costs since he took office. It’s due to his policies, not anything companies did.

“We know that prices are still too high for too many things — that times are still too tough for too many families,” the mentally impaired octogenarian said near the White House.

“We’ve made progress, but we have more work to do,” Biden added. “Let me be clear to any corporation has not brought their prices back down, even as inflation has come down, even supply chains have been rebuilt: It’s time to stop the price gouging and give the American consumer a break.”

Inflation isn’t coming down. The 3.2% is on top of the prior inflation that still exists.

“I wouldn’t count on prices broadly declining,” Moody’s chief economist Mark Zandi told The Post when asked about the future of grocery prices.

BIDENOMICS

According to data from the US Inflation Calculator, which tracks changes in the price of basic food staples based on the monthly CPI, the price of a dozen grade-A eggs rose a whopping 47% over the past three years, to $2.07 from Coffee was also among inflation’s most hopped-up pantry items, with a pound of ground beans surging to $6.18 on average, up from $4.52 in October 2020, the price-gathering service showed.

Bloomberg said, “It’s hard to find an area of a household budget that’s been spared: Groceries are up 25% since January 2020. Electricity is up 25%. Used car prices have climbed 35%, auto insurance 33%, and rents roughly 20%.

Edmunds found that 17.5% of Americans’ monthly car payment exceeds $1,000.

Natural gas is also up 29% since January 2020, according to EIA figures that were earlier reported on by Bloomberg.

According to a Wall Street Journal poll, only 36% of voters believe the American dream of owning one’s own house is possible. It’s down from 53% in 2012 and 48% in 2016. An NBC poll found that only 19% of Americans believe their children will be better than their own.

According to apartment search engine Rent.com, the median monthly asking rent in the US last month was $2,011. In October 2020, it was $1,667.

This all explains why a shocking 70% of Americans don’t want Biden to run again.

Republicans need a strong economic message.


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Dad
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Dad
3 months ago

We are soooo screwed! This man? Is a walking cluster….

Sid
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Sid
3 months ago

This all comes down to Biden’s first act in office and his attack on American energy independence. everything from this is domino on the economy. The cost of fuel and over regulation to punish the American people is what it’s all about Not the hokey Pokey.

Big John
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Big John
3 months ago

Biden has proven time, and time again that he lacks the cognitive brain functions to be able to understand basic Economics. When manufacturing costs rise, so do prices. When taxes go up, people have less money to spend. When goods are scarce, the price of those goods increase. And, when wages go up, that raises the manufacturing costs. Hence, the cycle keeps repeating itself. That’s Bidenomics!

Crotte
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Crotte
3 months ago

It is obvious that Biden has never had a real job or ever was in a responsible position in a corporation. Plus moron doesn’t even begin to describe this fool.

Bart
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Bart
3 months ago

Biden is an effing moron.