With everything going insane due to inflation the Biden administration has saddled the American people with, you would think elected officials would try to keep people from blaming those selling the good for the problems of supply and demand. Senator Elizabeth Warren (D-MA) is refusing to hear that idea. She instead thinks this is the perfect time to go on the crusade against the merchants for supplying the goods.
She chose to spit her venom in a double whammy of a tweet on Twitter where she made a statement, but she also included a clip from her appearance on “Stephanie Ruhle Reports” which aired on MSNBC during January 5, show. A strong combination of media, and one that works pretty well at getting your point across. Her point unfortunately is poorly made and not properly based.
Her speech about grocery stores on Stephanie Ruhle is best summed up with her statement of “Now what you got is a handful of giant chains, and then what happens…? Kroger, their profits just in the third quarter of 2021 were almost $900 million. That was more than three times what their profits were during the same time period in 2019. Now, if they are able to expand profits, not expand prices, but to expand profit, that’s because they have a lot of market dominance. If we move in with an anti-trust law, break up these giant corporations, then we get real competition.” The corresponding tweet was horrifically off-topic.
When Sen. Warren makes these accusations, she refuses to accept any blame the Democrats have for fixing the issues, or their inaction to do so. As more and more time elapses since we started having these problems, the worse they have become and the harder it will be to repair the damage they have done. Does this matter to Senator Warren or the rest of her leftist cronies? Not a bit.
Americans are suffering from persistent hyperinflation, and rather than accepting responsibility the American people are being forced to take it on the chin with no help to fix the situation. She refuses to blame Biden for his overspending and making the dollar worthless, or the issues going on within this administration behind closed doors that are keeping us as a nation crippled from fixing our economy.
What Sen. Warren refuses to understand is that grocery stores are a volume-based idea. To get big savings on products these stores need to buy in bulk; something chains can do with true ease that the little markets cannot. This in turn means lower profit margins for the local market and higher profits for the chains. Especially when the chains can turn a higher profit margin while still selling a good for a cheaper price. This is why shopping emporiums that require membership like Sam’s Club, BJs, and Costco are so popular. People save substantial money, the stores make pennies in profit, and the margins make sense for everybody.
As Catherine Rampell tweeted in a rebuttal “ For those arguing recent inflation surge & higher profits are being driven by corporate greed/increased concentration/etc (rather than demand) — do you believe plunges in inflation & profits in early 2020 were driven by companies becoming more altruistic, less concentrated?”
This isn’t grocery store greed. This is the facts of the economy President Joe Biden has taken this country into. Hyperinflation with little to no end in sight. Is this something we can tolerate for our nation, or is this something that needs to go? Unless you are one of the truly brain-dead Democrats, you have to realize how poorly things are going. How jaded the progressive politics have made people, and how much damage they are doing to us as a country. This ‘experiment’ of America has been working for hundreds of years. If people quit trying to uproot it, it can continue to thrive.