Bidenomics Inflation on Amazon Prime Day
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Bidenomics Inflation on Amazon Prime Day
Cost of living is high, which makes buying on sale more important
Amazon Prime Days– the annual summer sale– are Amazon Panic Days for me. I’ve spent the past 36 hours scrolling and clicking through the website to figure out what products I use regularly or think I’ll need that are on sale.*
While I’ve been determining the regular prices for Tide detergent and protein bars, Pres. Joe Biden is celebrating good economic news.**
Inflation Slows
A new report Wednesday showed that annual inflation is down to 3% from 9% this time last year.
“Good jobs and lower costs: That’s Bidenomics in action,” said the president in a statement. He tweeted, “We’ve made this progress while unemployment remains near record lows. That’s Bidenomics in action.”
But Bidenomics inflation doesn’t mean things cost less.
High Cost of Living
Sen. Minority Leader Mitch McConnell explained how inflation has affected our daily lives in a list of how much more everything costs since Biden has been in office, like these:
Grocery (food at home) prices have increased 20%.
Gasoline (all types) prices have increased 52%.
Furniture prices have increased 18.8%.
Apparel prices have increased 10.8%.
Politics of Prices
These huge, double-digit price increases are why I’m panic buying on Amazon. And I’m not alone in my worry about everyday living expenses. Pollster Patrick Ruffini tweeted the chart below and said:
Likely 2024 voters disagree that we should no longer be concerned about the alarming and abnormally high rate at which prices have risen since Joe Biden became president. The cost of living is the #1 concern and it's just as high as it was a year ago.”
I have 25 things sitting in my Amazon cart with five hours to decide if I need to buy any of them now to save money long-term. I may leave it all behind and pay more later to avoid this mass hysteria.
Will we ever get back to the cost of living before Biden took office?
*Last year, I wrote for you my favorite gadgets from Amazon, click below. I looked at my list, and I still use all these things every day. None are expensive. They are all on sale again this year.
**I highly recommend using the CamelCamelCamel website before buying things on sale on Amazon to see historical prices. This prevents getting tricked into sale alerts for prices that were artificially raised recently.
**I bought the maximum amount (three) of this flavor of Quest protein bars that I eat every day, but the sale ended. The other flavors were ruined when the company “improved” the product last year.
Did you buy anything on Amazon Prime Days?
Bidenomics Inflation on Amazon Prime Day
"Bidenomics" LOLGF, Brandon.
1: flood the economy with free money
2: choke off energy exploration, refining, and distribution
3: consume an ever-increasing portion of GDP in Washington.
4: PROFIT!!!
Duh. Everything costs more, especially as energy costs are baked into just about everything consumed. 3% inflation still means prices are elevated and increasing, whereas wages are not keeping up.
Cure: The Fed Board of Governors embarks on an aggressive rate hiking campaign. I say this as a former FRBNY economist: They have no idea what they are doing and zero likelihood of success.
Stuff is expensive not because of demand but because of higher input, production, and transportation cost and limited, constrained supply due to supply chain latency. Simple solution: treat the causes.
Encourage energy production and distribution. Grow supply to meet demand, don't crush demand to meet suppressed supply.
Rate-setting by the central bank is simply price fixing (cost of money). Price fixing has worked approximately never, so why should it work now? If you're a hammer, every problem looks like a nail. If you're a Fed Governor, every change in the economy needs a corrective change in interest rates. It's Monetary Policy Gnostic nonsense. Leeches to cure "Consumption."
Amazon Prime day: yup. loaded up on some stuff for the Kayak. Redfish has been en fuego lately in our little stretch of the Redneck Riviera.
Amazon Prime Day at the moment has little relevance to me. At this time I am motoring down to Orlando Florida for the Sons of the American Revolution Congress being held there. Fuel prices are such that I still prefer to fill my tank when it reads about half full even while I am driving. Highest price I saw on the trip was around Brewster NY at about $3.88 a gallon or so. St Clair PA was about $3.44. A station in Virginia off I 81 before I turned off on I 66 towards US Route 17 Southbound was about $3.29. The remainder of my route down mostly is I 95. My route takes me through VA, NC, SC, GA, and finally FL...the current land of De Santis. About more than 750 miles to go from my current overnight point. I hope it's not too pricey. However I don't use pay at the pump but actually go inside the store and use the Point of Sale terminal in there...prevents any skimmers that may be installed at the pump from taking information to steal from you plus controls the actual amount of funds expended for fuel. Also equipped with standard military operating philosophy of having as much self sufficiency as possible while away from home base. Food, water based fluids, and other things. My time in the Army Infantry taught me to always be fully prepared and to expect the unexpected. Google Maps, as well as map and compass, to plot out routes and keep my eyes peeled and my brain as sharp as possible.