While you were Super Bowl shopping, did you notice smaller-than-usual products where the price stays the same?— President Biden (@POTUS) February 11, 2024
Folks are calling it Shrinkflation and it means companies are giving you less for every dollar you spend.
I’m calling on the big consumer brands to put a stop to it. pic.twitter.com/wL1NsEh78F
Maybe if he hadn’t stocked 1600 so full of activists and influencers, Joe might have an actual advisor able to tell him when he’s being a dumbass.
Because when it comes to the economy, he needs all the help he can get.
He took the occasion of Superbowl Sunday to complain about this new thing he just heard about called ‘shrinkflation’.
‘If you’re anything like me, you like to be surrounded by a snack or two while watching the big game. You know, when buying snacks for the game, you might have noticed one thing: sports drinks bottles are smaller. Bag of chips has fewer chips, but they’re still charging us just as much.
As an ice cream lover, what makes me the most angry is that ice cream cartons have actually shrunk in size but not in price. I’ve had enough of what they call SHRINKFLATION.
It’s a rip off.
Some companies are trying to pull a fast one by shrinking their products little by little and hoping you won’t notice.
Give me a break.
The American public is tired of being played for suckers. I’m calling on companies to put a stop to this. Let’s make sure businesses do the right thing, NOW.
He’s talking about shrinkflation as though it’s some kind of a brand-new idea. That’s weird. It’s been around since at least he was Veep in the Obama years. (Although Joe sometimes needs a little help remembering exactly when that happened.)
It requires either massive chutzpah or absolute ignorance to blame corporations for shrinkflation.
Interest rates on maintaining federal loans now exceed total defense budget spending. That number is going to keep going up. The more debt we rack up, the more our dollar is devalued.
When Joe was sworn in, the federal debt stood at about $28.5 Trillion. At the time of this writing, here is a screenshot of the debt clock.
In other words, the debt when he took office is only 83% of what it is today — and there is STILL another year of profligacy that will be added to that number… with Biden and complicit Republican senators still throwing cash around like sailors on shore leave.
Even WITH average income going up… most people have LESS cash in their pockets because inflation is eroding buying power faster than those raises can improve it.
Biden has made energy more expensive in a world where we need to heat our buildings and move products to the market by truck, train, ship, or plane. And all of these run on fuel that Biden has deliberately made more scarce in the name of placating the eco activists.
Consumers right now are pushed to the brink — they are carrying record amounts of credit card debt:
Credit card debt, the amount owed by all Americans on their credit cards, rose to a record $1.13 trillion at the end of last year, the Federal Reserve Bank of New York reported Tuesday.
Card balances increased by about $50 billion, or 4.6%, in the fourth quarter of 2023.
Credit card delinquencies, the amount of time in which cardholders fall behind in making payments, also increased. The percentage of card delinquencies 90 days or more rose to 6.4% from 4% in the fourth quarter of 2022. — USA Today
He likes to cherrypick numbers that compare himself favorably to Trump. This one isn’t nearly as friendly to him.
At the time when Biden was sworn in Trump and his policies had taken credit card interest from a high of 930 Billion down to $770 Billion.
Merchants understand they can’t get blood from a stone. When input costs go up, they have two reasonable options if they want to remain profitable: they can charge more for the same product, or they can offer less product for the same price.
Shrinkflation is the kind of inflation in which a vendor assumes the customer is unable to absorb a more expensive version of the same product, so they keep the price the same with a little less in it.
Joe can whine about it all he wants, but as long as he is creating an inflationary big-spending economy with lots of red tape and increased energy costs, he should direct his complaints at the man in the mirror.
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