Proving she’s equal parts dishonest and stupid, Sen. Elizabeth Warren (D-MA) once again attempted to blame evil grocery store chains for inflation.
During an appearance this week on far-left MSNBC, Warren argued in favor of using anti-trust laws against grocery store chains.
What happens when only a handful of giant grocery store chains like @Kroger dominate an industry? They can force high food prices onto Americans while raking in record profits. We need to strengthen our antitrust laws to break up giant corporations and lower prices. pic.twitter.com/DMa9Z7adFr
— Elizabeth Warren (@SenWarren) January 7, 2022
Now what you got is a handful of giant [grocery store] 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.
It’s obvious what she’s up to here… The same thing she was up to the last time she floated this deranged conspiracy theory… She’s hoping to let His Fraudulency Joe Biden off the hook for the record inflation that is solely his fault. First, Biden’s lunatic spending cheapened the dollar and increased prices.
Second, Biden’s supply chain mismanagement ensured that more demand than supply increased prices.
And then, Biden’s gobsmacking mismanagement of the China Flu resulted in personnel shortages that further damaged the supply chain, which again created more demand than supply and increased prices even more.
The facts are this… Grocery stores operate on some of the smallest profit margins of any business out there. Theirs is a volume business, not a profit-margin business.
Additionally, once you understand that grocery stores are a volume business, you understand why their profits exploded during the third quarter of 2021. That’s when omicron hit. That’s when people started stockpiling groceries again. Also, Because of the virus, fewer people are going out to eat, which means they are eating at home, which means they are buying more groceries.
More people than ever are working out of their homes, which means they are eating at home rather than going out.
As far as competition in my small town, there are six different grocery stores competing for my business within about two square miles. So the idea that there’s some sort of price gouging going on is absurd.
What does this fake Indian believe? That ALL OF A SUDDEN, after decades and decades, the grocery stores all got together to gouge their customers during a pandemic? That ALL OF A SUDDEN, after decades and decades, they decided to risk prison by fixing their prices during the third quarter of 2021?
When’s the last time Lieawatha went grocery shopping? Honestly, a stroll through almost any grocery store will give you an idea of the supply and demand issues by way of all the empty shelves.
Here’s an excellent rebuttal to Warren’s lies…
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? pic.twitter.com/j1Feu09Ljx
— Catherine Rampell (@crampell) January 12, 2022
That Is THE key question: “[D]o you believe plunges in inflation & profits in early 2020 were driven by companies becoming more altruistic, less concentrated?”
Riddle me this Pocahontas… If Democrats are so concerned with Big Grocery Chains, why did Democrats close small businesses and allow Big Grocery Chains to remain open during their anti-science lockdowns?
There are only two reasons grocery store prices are so high: JOE and BIDEN.
If Warren were genuinely concerned about monopolies and anti-trust issues, she would go after Big Tech and teachers’ unions.