Labor Department data exposes Kamala’s ‘price-gouging’ lie

American Thinker ^ | 08/26/2024 | Olivia Murray

[SeekAndFind]

The progressive left relies on the narrative that economics is a sophisticated discipline, full of complex theories, only grasped by “experts” and politicians, because that’s how they pass off their flagrant lies and ignorance.

Of course, there’s nothing really that complicated about supply and demand, freedom of choice instead of forced commerce, gross versus net, attacking the affordable energy resource making the global economy move, cronyism, subsidies, debt, printing money out of thin air, and cold hard data.

Thankfully, we conservatives have Andrew Puzder (I routinely lament over the fact that he was never our Secretary of Labor), who along with EJ Antoni at The Heritage Foundation, masterfully and simply debunks the corporate “price-going” lie with numbers from the Labor Department—in essence, Kamala Harris’s very own people. Here’s an excerpt, from their report:

“ Prices paid by businesses (as measured by the producer price index) have risen 19.4 percent under the Biden-Harris administration. That’s precisely the same increase as occurred in the prices paid by consumers over this period (as measured by the consumer price index). In other words, inflation has been impacting the entire supply chain from producers to consumers.

Had producers or retailers been price gouging (that is, increasing prices more than inflation justified), the rate of inflation for consumers would have exceeded that for producers. It did not.“

As Antoni and Puzder write, it “adds insult to injury” when businesses are blamed for the problems created by the government, because on the contrary, businesses were bearing the brunt of inflation faster and harder than the consumer

[oldasrocks]

But the sheep will still believe her.

[FamiliarFace]

Good article.

[Salman]

But there is definitely price gouging among the people who sell war.

[nopardons]

BTTT

[frank ballenger]

Not much room for price gouging in the survival margin of supermarkets:
2024 article:
How Much Do Grocery Stores Make? (Grocery Store Profit Margin).

In the ever-evolving retail landscape, grocery stores play a vital role in communities. Combined, they employ 5.5 million people annually according to the Bureau of Labor Statistics, and bring in 1 trillion dollars in revenue each year, via the Food Industry Association. They also face unique challenges and opportunities. The key to success in this competitive industry lies in optimizing revenue and ensuring long-term viability.

Food retail businesses operate on thin profit margins, averaging 1.6% net profit after taxes according to the Food Industry Association’s 2023 report. Even though your grocery store revenue may be high, it’s key to control costs and improve operational efficiency to ensure you can be profitable.
Key strategies for reducing grocery store operational costs include effective inventory management, labor efficiency, energy efficiency, and streamlining overall operations.

Grace Jidoun, author Toast website (business strategies)

[lewislynn]

So it’s not ignorance, it’s a lie.

[Vaduz]

Biden and Harris own the longest lying list in political history with the help of the MSM their worth exposed.

[oldtech]

I could believe almost anyone quicker than I would believe Kamala Harris particularly on matters of money, commerce, & business. It shouldn’t be hard to understand that if a company’s cost of production goes up, then retail prices will go up accordingly. Some seem to escalate more in a shorter period, but then most of us don’t know by what amount & how quickly cost of production went up on a particular item.