Posted on 02/14/2024 6:37:03 AM PST by ChicagoConservative27
On Tuesday’s broadcast of CNBC’s “Money Movers,” White House National Economic Council Director Lael Brainard reacted to the January CPI inflation report by stating that there are probably “some anomalies in today’s report” and that overall data on the economy is good. She also argued that grocery corporations are gouging.
Brainard said, “You know what, I always look at the data picture. I don’t overly weight one data point. And the overall picture looks good. Growth above 3, unemployment below 4, and inflation down by two-thirds, now, of course, we want to keep working to lower costs for the American people, but inflation has come down a lot while employment and growth have remained strong. One data point I just noticed today, or one milestone I noticed today is that, actually, real wages are up by 3.4% over the cycle. That means that Americans have more money to spend at the end of the month. That is the best real wage performance of any recovery in 50 years.
(Excerpt) Read more at breitbart.com ...
“gouging” = pricing items based on the market rate.
Reminds me of “Baghdad Bob”.
Agree - gouging doesn’t exist in a free market. Things priced over market won’t be bought. Now taxes are another matter by definition.
I’m so relieved. Sounds like it’s only transitory
Courtesy of very small minds in Bidenville. The Dunning-Kruger neighborhood in Bidenville.
Milk at my grocery store was .98 cents a gallon last week. It all was on the last sell by date. The extreme weather threw a wrench into supply and demand. Call me the gouging consumer. I bought three.
Good? I heard that it’s GREAT! My wallet tells me different though. Daily.
Companies cannot “gouge” in a free market except when the government distorts the market.
Of course, there is the opposite of “gouging” when government gives away free money to distort the market like EV tax breaks. Maybe they should excoriate their endless and bottomless “reverse gouging.”
Then there is the biggest gouger by many orders of magnitude — the USA Feral Government. A few pennies more for a box of crackers is nothing compared to the hundreds of thousands of dollars I sent to this Supreme Gouger and got very little of value in return. Some now-crumbling roads, a military that used to be strong, and a civilization in ruins. The National Parks are still nice, I guess.
Economists Thomas Sowell and Walter Williams set this issue right.
Remember during the COVID scare, when bottled water, paper products and diapers were almost non-existent in the stores? That was because “anti-gouging” laws and edicts made stockpiling them so affordable. As a result, there was no supply for people who really needed them immediately.
The sad part of this is that Democrat voters believe that inflation is caused by “greedy corporations”. My sister in law who is a Democrat was telling my wife about the corporations charging too much driving inflation. My wife didn’t even bother to respond knowing that her sister is a true believer and we all know that for a true believer no proof is necessary and no disproof is possible
Yeah, gouging by the government.
Yup! Gas has gone up 70 cents a gallon over the past month here. Lookin’ good!
overall picture is good, keep feeding the fools lies
“I’m so relieved. Sounds like it’s only transitory”
It’s transitory if it’s being done with borrowed money. That money has to sometime be paid back with interest.
And in the article posted, the author says nothing about the borrowing that’s going on — thus an incomplete picture.
Last week’s Wall Street Journal had a nice big article about how well the economy’s doing. Not a word about the borrowing (sometimes called money creation, or quantitave easing) that’s going on.
And denial
The only “gouging” is by the govt.
Food and energy prices are NOT included in the CPI, both of which are a HUGE portion of everyone’s’ daily lives. The CPI index, without those two numbers, is BS.
It doesn’t help that most of the beef/poultry/pork sold in this country is through an oligopoly of 5 meat packers-3 of which are foreign owned.
Beef, butter, cars and houses.
You’re doing great, comrade.
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