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[–] 104 points 2 years ago (12 children)

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.

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  • [–] 154 points 2 years ago (3 children)

    Use the anti monopoly laws we have in place to prevent price gouging from lack of competition

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  • [–] 139 points 2 years ago* (1 child)

    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.

    https://www.justice.gov/atr/antitrust-case-filings

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  • [–] 42 points 2 years ago (4 children)

    Sorry to be pedantic on the internet (lol) but it might be more accurate to say inflation has slowed.

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  • [–] 21 points 2 years ago (1 child)

    Up like a rocket down like a parachute.

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  • [–] 5 points 2 years ago (1 child)

    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.

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  • [–] 18 points 2 years ago (1 child)

    He picked two points in time and described a number that was fixed at each instance, so decreased works fine.

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  • [–] 2 points 2 years ago (3 children)

    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.

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  • [–] 11 points 2 years ago (2 children)

    If you're accelerating slower, you've decreased your acceleration.

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  • [–] 0 points 2 years ago (2 children)

    But you are still moving. The dollar is worth less.

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  • [–] 11 points 2 years ago* (1 child)

    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

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  • [–] 6 points 2 years ago (1 child)

    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?

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  • [–] 6 points 2 years ago

    The fact this is even in the negatives a tiny bit really demonstrates the typical political intelligence of your average voter.

    You’re of course completely correct, and Biden has indeed done everything he LEGALLY can do, which is probably why we’re suffering far less than a lot of the rest of the developed world economically speaking.

    People just like to shout at the wind, it seems.

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  • [–] 20 points 2 years ago (1 child)

    Damn there is nothing the government can do. Sorry guys :( You'll just have to buy less food, and maybe then the corporations will get the hint!

    Regulations? Laws against price gauging? Naw, they can't do that. It's the consumers that are at fault!

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  • [–] 13 points 2 years ago (1 child)

    Do you think Biden makes the laws? Did you fail civics class? I said nothing about enacting laws making what these companies are doing illegal, I only said Biden can’t do much about it.

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  • [–] 14 points 2 years ago (1 child)

    He can propose laws to the legislative bramch. He might not be able to pass it himself but he could push and advocate for it

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  • [–] 14 points 2 years ago (1 child)

    I'm sure the GOP-led house would be very receptive to that

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  • [–] -5 points 2 years ago* (3 children)

    Oh what does it hurt then?

    Can’t say anything, because of the GOP.

    Super cool having a democrat president who’s got no balls. Can’t offend the house.

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  • [–] 2 points 2 years ago (1 child)

    What does it hurt? Political capital, for one.

    Also, you don't just say, "let's make a law about X", and a 3,000 page bill just appears in front of you. That shit takes TONS of work. Biden can't just materialize a workable plan that both parties (in this political climate? lol) will ever agree on.

    That just isn't how this country works. If you want this to change, Congress has to change it.

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  • [–] 2 points 2 years ago (2 children)

    I love how "political capital" is the neolibs go-to excuse for why the working class can't be helped. Yet there's a never ending amount of "political capital" I help giant corporations make more money. Fucking tools

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  • [–] 3 points 2 years ago*

    What? Do you think I like that political capital is a thing? It's fucking gross. I am just acknowledging reality. What do you think the President actually does in the US?

    Like, do you even realize that you're advocating for authoritarianism? Or is it OK, as long as it's the person doing the things you want? And we all know situations like that are super sustainable...

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  • [–] 1 point 2 years ago

    “The president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances.”

    I hope you direct all that useless anger you have here on the internet for voting time, then.

    We just had local elections here nationally in the U.S., whom did you place your vote for to solve this issue?

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  • [–] 5 points 2 years ago (4 children)

    Price controls are well within the president's powers. It's not that radical of a concept.

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  • [–] 7 points 2 years ago

    Why is this upvoted?

    No, the president of the United States cannot unilaterally implement price controls on goods without the involvement of Congress. Price controls typically involve changes to laws and regulations, which fall under the legislative branch's authority. Congress would need to pass legislation granting such powers or specifically authorizing the president to implement price controls in certain circumstances.

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  • [+] -9 points 2 years ago* (1 child)

    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.

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