Cool. So what’s he gonna do about it? Or was this it?
What can he do about it? We live in a free market society. All he can do is keep talking about it and hope the people get the message. Rebellion will start at the consumer level and go up, not the other way around. Main problem is the millions of people that rely on Fox for their news.
Use the anti monopoly laws we have in place to prevent price gouging from lack of competition
He issued an executive order in 2021 to do just that, among many other things to promote competition. There has definitely been an uptick in antitrust cases since then, and inflation has also decreased significantly.
Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed.
Up like a rocket down like a parachute.
Except the unfortunate part is that it is always increasing, it’s just a derivative, rate of change. But the massive boost from months of heavy inflation is now here permanently, so we’re adding 2-3% on TOP of the already-inflated costs. But that’s not telling the full story, it is the value of the US dollar going down primarily. Buying power is lower by definition, but because of that, everyone on the bottom end is getting squeezed beyond anything they are ready for and it’s going to eventually cause civil unrest on a larger scale.
That’s exactly the point of my analogy. Wtf.
He picked two points in time and described a number that was fixed at each instance, so decreased works fine.
But it didn’t decrease, the rate of increase is what decreased. Inflation is a measure of acceleration, 7% and 3% are both increasing inflation.
If you’re accelerating slower, you’ve decreased your acceleration.
Burn the pedant!
I still think decreased is accurate though, the rate of inflation is significantly smaller today vs then, so the rate has decreased
Yeah if it was deflation that would’ve been a huge deal because our economy is built on an inflationary assumption and deflation would crash it
The bipartisan PPP (passed under Trump) was insane.
lets add taxing the shit out of people who do this to the list.
How would you like the President of the United States to do that? Do you think the President is a dictator that can just unilaterally pass sweeping legislation? How do you think the public would react if the President had the power to directly determine the prices of goods? How do you think that would go in general?
Price controls are well within the president’s powers. It’s not that radical of a concept.
Price controls are an extremely radical concept, themselves. Last thing this economy needs is further distortion.
The sucky thing about inflation is you have to run through it like an illness.
Poor Biden can’t do anything, he doesn’t have any power lol….
ok. but this is factually correct
Do you know basic US Civics, or…? Biden has the bully pulpit (basically what he’s doing here), and that’s pretty much it. He can issue executive orders (and has in the past about this), but those are often complete bullshit that’s unenforceable, and will be removed by the next person in the office.
Take a look at Trump rolling back Obama’s EPA purview over waterways in the US for a recent example that has left over 60% of our nation’s waterways now unprotected.
Biden is like dog shit on the bottom of FDR’s shoe. He is weak and pathetic and the only thing he cares about are his corporate donors
Lol way to just talk past me. Did you even read the comment?
Yes, bring back the New Deal Democrats! Enough of Third Way neoliberalism.
FDR sicced Federal agencies on a leftist to discredit him.
Oh the irony.
It will be harder to pass new laws in the current Congress, but he still has control over the executive branch. Hopefully some existing laws could be used.
He appointed the most aggressive FTC head in decades who is using the antitrust law we have to currently go after Google and Amazon.
She’s also fighting a merger between Kroger and Albertsons, which would drastically raise grocery prices.
The FTC is also fighting the hedge fund buyout of preciously independent healthcare clinics, which has massively ramped up medical costs.
Not to mention breaking the real estate agent fee monopoly.
His executive branch has been busy as hell trying to help people.
Don’t tell us facts. We’ve already decided to believe whatever the fuck we want regardless. /s
Biden should be waving the magic wand! I am mad that he is not doing this!
He’ll hire their execs to run various government agencies
You know… He ‘hit’ them apparently.
Oh and passed an executive order, along with having his justice department pursue more antitrust cases than any other administration.
I mean, you wouldn’t want the politicians to lose their
legal bribesgenerous donations over acting in our interests instead of the corporations, would you?Will someone please think of the rich folks pockets?
How is it possible that people don’t understand the implied “/s” here??? Or am I missing some other reason for the downvotes?
FWIW, I thought your comment was great. Gave me quite a chuckle! :-D
How is it possible that people don’t understand the implied “/s” here???
They understand it and are angry because they’re being called out.
It’s because I said bad things about Biden, even though I was talking about politicians as a whole. But you can’t say bad things about Biden or be any kind of critical about the current administration without getting trashed on here.
All he can do is back out his limp-dick economic policies that are destroying the country and creating this problem…but there’s no chance of that.
This damage is literally the point of the policies. What people don’t understand is that he’s doing this on purpose.
I’m sure I’m going to be sorry for asking, but how in the world are you coming to this conclusion?
So the attorney general can open an investigation on this asshat profiteering off of hand sanitizer but when it comes to companies price gouging in the wake of the pandemic we get this limp dick response? Sure I’m glad he said something but we need more
Apparently a state of emergency needs to have been declared for them to actually do anything about price gouging directly.
I read about it when Southwest airlines went completely down for a week last year over the holidays and I was stranded somewhere. Other airlines had astronomical prices and car rentals were over $500 for one day. It was disgusting. But apparently there was nothing to be done.
They need to change the rules surrounding it because they’re not working. But any amount of government intervention in the economy gets conservatives screaming about “communism,” or socialism, or whatever scapegoat they’re using that day that they don’t know the actual definition of. And yet, if there’s no government intervention in the economy it’s “Biden’s not doing enough/Biden is personally raising gas prices every week” etc.
Of course there wasn’t a single peep from them when Trump was fucking shit up, other than those “this is Biden’s America” memes when Biden hadn’t even taken office yet and the photos were a year old. Nothing will get done about it as long as conservatives have any say in congress. But they’ll always be the one’s complaining and pointing the finger at “the libruls” while profiting.
Corporations: “Make us.”
Biden: “no”
How could Biden make them do it?
Why would he even be willing to?
Make them, under force of real economic consequences, or this is just begging.
Old man wags his finger.
Old man yells at cloud, functionally.
Any legislation to go with that or are you just asking nicely?
I’d be surprised if even saying this didn’t have political ramifications. There’s nothing, besides; military budget, tax breaks to millionaires, and their own pay raises, that would get through both houses of Congress right now.
Asking nicely is at least virtue signaling, maybe it’ll be something we can address if a couple R’s ever see the consequences of their illegal actions.
L-O-L
He could threaten to cancel federal contracts with any vendor found to be price gouging. That would have actual ramifications and doesn’t require Congress.
The president isn’t powerless here. He just wants credit for purely performative actions.
The price gouging is mainly coming from consumer facing markets, not government contracts. Even with discretionary spending there isn’t that much that pure executive branch actions can do to dissuade the price gouging that we’ve been seeing.
Well to be fair, there is A LOT of price gouging from government contracts, but they just print the money for it so they don’t REALLY care.
Yup.
If the President threatened to void federal contracts, you’d see immediate change.
But the president doesn’t work for us.
void federal contracts
I’m sure Walmart and Chipotle are shaking in their boots. I guess a president DID get McDonald’s delivered to the White House once.
Never fails to amuse me the extent to which people make excuses for the leader of the free world.
Corporations: lol no
He probably went to go buy his own ice cream for the first time in 3 years and said “holy shit.”
He added, “come on, man”
Oh shit, he means business.
“My good friends in congress will, well they uh, I mean titwinkle, and corn pop was a bad dude!”
Dude, they are gouging because they want you gone so they can have more tax breaks. Fuck then over already.
Actually do something about it you crypt keeper lookin ass fuck
Like what?
Oh cool. When is that passing the Senate?
Sen. Ed Markey (D-Mass.) is cosponsoring the legislation in the Senate, and Rep. Jamaal Bowman (D-N.Y.) will introduce companion legislation in the House of Representatives.
It won’t pass, but if Biden can put the blame of it failing on Republicans it could help win elections.
That’s something realistic he could do. For an unrealistic but satisfying option, he could pick the worst offender and make that company an example. Send every OSHA, EPA, and IRS agent they can get to swarm the company and bury them in fines and legal actions.
Using agencies as weapons like that outside of their intended purpose is… despotic.
I don’t know that it’s wise to take attention away from the Republicans own clusterfuck to place it on something the Dems can’t get done.
I’m with you in spirit; I just think there are more layers to this than we tend to give it credit for.
It’s exactly what Republicans would do if they didn’t like a company. Playing nice with these people is what got us to this point.
Exactly. With apologies to Michelle Obama, “They go low, we go high!” does not work. It was never intended to work.
Democrats have a ton of sportsmanship trophies, and what do Republicans have? Well, they’ve got the SCOTUS, the House, and tons of State governments.
It’s despotic to direct agencies to perform the tasks they were specifically created to perform? I don’t think so.
It’s not something that Biden would realistically do or that I think should be done in this situation, but it is far from despotic.
Maybe add a pretty please in front of the request if he isn’t going to take any forceful action.
forceful action
like what? Or is the purpose of this just to make people mad, even when it doesn’t make sense.
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Pick the worst offender corporation, invite their whole executive board to DC, and when they arrive, guillotine them on the white house lawn.
…then repeat this request.
Windfall taxes
Stop slapping and start jailing. No teeth will never stop this.
You generally want laws to do that kind of thing. Good luck trying to get a price fixing law through the House.
We have antitrust laws. Republicans and neoliberals have de-funded the agencies that would enforce those laws to the extent that they can’t take action on 99% of what’s happening.
Bad corpos!
*slaps them on the wrist
"If only my donors would pretty please stop that would be great. Consequences? We need to keep the elderly out of government, and ban lobbying. Until we do BOTH of those things, nothing will change and will only get worse. VOTE.
MALARKEY DETECTED
