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As inflation hits 7%, here's a list of
industries the Biden administration is targeting

Original Article

Posted By: NorthernDog, 1/12/2022 2:10:13 PM

Inflation has become one of the top economic issues in the U.S., and the Biden administration is acting accordingly with various policy actions. U.S. consumer prices rose 0.5% in December and 7.0% on a year-over-year basis, according to the Bureau of Labor Statistics. It's the fastest rate since 1982. Two of the biggest drivers of price spikes over 2021 have been in food and energy which is likely the reason the White House has focused on both of those sectors both for inflation as well as antitrust reasons. Tying the two issues together is not without critics, even among Democrats.

Comments:

Old Joe is prepared to dish out punishment to the greedy, evil companies making him look bad. But no mention of auto industry being scolded for their huge price increases.

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Reply 1 - Posted by: Flyball Dogs 1/12/2022 3:12:55 PM (No. 1036286)
I read the headline and “administration is targeting” and wish I could understand how the country worked in the early 1800s before Communism and socialism came into vogue.
6 people like this.

Reply 2 - Posted by: DVC 1/12/2022 5:54:44 PM (No. 1036437)
Intentionally wrecking the economy.
3 people like this.

Reply 3 - Posted by: AnotherYank 1/12/2022 6:36:37 PM (No. 1036469)
Institute price controls, of course. What could go wrong?
2 people like this.

Reply 4 - Posted by: JHHolliday 1/13/2022 9:44:14 AM (No. 1037081)
A lot of these proposals the Dems leak to the media are attempts to see how the public reacts. If some polls show that the country supports price controls, then that's what they will do. Price controls will, of course, be an unmitigated disaster. The only permanent cure is for the federal government to spend less...much, much less. That won't happen under either party. Instead of that, they are going in the opposite direction by printing money and fire hosing it everywhere. If inflation keeps raging, then two things will happen...Venezuela type inflation or the fed raises the interest rates to Carter era levels followed by a deep recession.
1 person likes this.

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