Joe Biden Blames High Prices On ‘Price Gouging’

[Sharky1203]

President Joe Biden blamed businesses for high inflation, accusing them of “price gouging.”

He stated that businesses should lower their prices as inflation declines. However, he confused falling inflation with falling prices.

“Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price gouging,” Biden said.


“Give the American consumer a break.”

Biden’s economic policies have led to a lack of trust from voters, with many believing that the economy was better under Trump.

His approval rating is at its lowest since April, and many disapprove of his handling of jobs, the economy, and inflation.

 

[Chishawk1425]

Yep. Anything else for us today?

 

[NorthernHawkeye]

As his party wants to raise taxes...

 

[Rifler]

Most cost increases prompted by inflation don't go away you senile old clown,..But nobody has ever accused Joe of being a smart man...

 

[sober_teacher]

Most cost increases prompted by inflation don't go away you senile old clown,..But nobody has ever accused Joe of being a smart man...

What about the overall point tho? Is it fair to blame Biden for prices not falling even as inflation - which was a major reason behind the original price hikes, has declined since its pandemic highs?

 

[Scruddy]

Joe "the buck stops with me" biden is blaming others again? Color me shocked lol

 

[MitchLL]

Price gouging is "Capitalism" when a Dem is in the WH.

Just read these forums.

 

[bhawk24bob]

He could do things like not let the merger of the nation's two largest grocery chains not happen while he's in office, implement policies that encourage competition and discourage consolidation within industries, etc.

 

[binsfeldcyhawk2]

What about the overall point tho? Is it fair to blame Biden for prices not falling even as inflation - which was a major reason behind the original price hikes, has declined since its pandemic highs?

Lower inflation causes prices to increase at a lower rate...not decline. That'd be deflation.

 

[Whiskeydeltadeltatango]

Friendly reminder, we are in year over year over year inflation. Slowing inflation does not mean deflation. It means you are seeing prices go up from their already historic highs by cents not dollars.

 

[Whiskeydeltadeltatango]

Lower inflation causes prices to increase at a lower rate...not decline. That'd be deflation.

Beat me to it.

 

[MikeyHawk]

What about the overall point tho? Is it fair to blame Biden for prices not falling even as inflation - which was a major reason behind the original price hikes, has declined since its pandemic highs?

Wow, I see how politicians get away with this stuff. Lack of basic economics is what politicians rely on

 

[Finance85]

Let's start with price gouging by the federal government in the form of spending and taxes.

 

[Bobcat07]

Lower inflation causes prices to increase at a lower rate...not decline. That'd be deflation.

Yep and while I agree that price increases suck we also do not want to see widespread deflation.

 

[bunsen82]

There are some prices where inputs have come down, but they have not lowered their prices yet, homebuilding comes to mind. Ultimately market dynamics and competitive forces will push the prices down some but they will never come down as low as a reduction in the prices decrease. Everyone is trying to increase their margin, and will several middle man and business, the end game is likely not a huge decrease at the market.

 

[sober_teacher]

Wow, I see how politicians get away with this stuff. Lack of basic economics is what politicians rely on

Would love to hear your explanation as to how Biden is to blame.

 

[markfromj]

There is no such thing as price gouging.

 

[NoleATL]

President Joe Biden blamed businesses for high inflation, accusing them of “price gouging.”

He stated that businesses should lower their prices as inflation declines. However, he confused falling inflation with falling prices.

“Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price gouging,” Biden said.


“Give the American consumer a break.”

Biden’s economic policies have led to a lack of trust from voters, with many believing that the economy was better under Trump.

His approval rating is at its lowest since April, and many disapprove of his handling of jobs, the economy, and inflation.

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And he is correct in many regards.

 

[Whiskeydeltadeltatango]

Community notes ftw:

 

[Chishawk1425]

 

[Whiskeydeltadeltatango]

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Corporate greed is called profit. Profit is what keeps people employed, unlike your #opentowork ass.