Posted on 06/22/2024 1:31:03 PM PDT by ChicagoConservative27
During an interview with CBS’s “The Takeout” podcast released on Friday, Biden Senior Adviser Gene Sperling stated that while some economists question whether the White House’s narrative on shrinkflation is accurate, “I think Joe Biden feels like he knows what side he’s on.” And “one thing Joe Biden has learned a bit, is it’s not sometimes just listening to the real conservative economists, but just following his gut instinct” like he did with the American Rescue Plan.
Sperling said, [relevant remarks begin around 23:35] “He’s not happy, whether you call it price gouging or greed, he’s just not afraid to make that argument. And, of course, some economists will come and do — make claims, are you sure, in this case, somebody’s abusing their pricing power? But I think Joe Biden feels like he knows what side he’s on. He wants to be a pressure point, whether it’s policy-wise, through his FTC and antitrust or consumer protection or through his own words to say, prices are coming down, your inputs are coming down, this is not a time that your goal should be record profits that have never been seen while families are going through the grocery line, paying more.”
(Excerpt) Read more at breitbart.com ...
Power has nothing to do with overall price levels. Sure you can jack up prices on one essential good, but then the amount of money to buy another less essential good, some luxury or say a movie ticket goes down. If the overall cost of food is pushed up by some oligopoly, then the total amount of money that some movie mogul can get for his woke POS flick goes down, and therefore the amount that can be paid to some talentless screen hunk drops and that affects the amount that some Colombian drug lord can charge for cocaine. But, when the government prints money and hands it out to a crowd of leaches on society, then total cash chasing goods goes up and the price level of goods and services increases .
As Milton Friedman said “Inflation is always and everywhere a monetary phenomenon.”
CNN gave Biden the questions for the debate.
Everything that is happening is consistent with Obama's agenda to 'redistribute' wealth and to target what he feels are undeserving whites and those he's said are 'bitter' people who cling to guns or religion or antipathy to people who aren't like them or anti-immigrant sentiment or anti-trade sentiment as a way to explain their frustrations..
You just do not, like too many people, understand the basics of power and how it effects everything.
So you finally figured out the Plan which has been ongoing since Noxious Nixon. Hrah.
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