Diamond Joe does it again

Biden’s unshakeable support for capitalism and free markets has led to lowest wholesale prices in years. It’s win after win after win with this guy. God bless Diamond Joe!

Egg prices are crashing. Here's why | CNN Business

As of last week, Midwest large eggs — the benchmark for eggs sold in their shells — cost just $0.94 per dozen in the wholesale market, according to Urner Barry, an independent price reporting agency. That’s a sharp fall from $5.46 per carton just six months ago. (In retail, prices are well above $1 per carton, though they too have been declining.)

Why the decline? It’s because of a reversal of supply-demand trends that caused prices to spike in the first place.

Wholesale prices are typically more volatile than retail prices. That’s because supermarkets and grocery stores set retail egg prices, and they don’t want customers to be scared away by wild swings. So prices in the grocery store don’t immediately follow wholesale trends.

“Just because wholesale prices go lower, it doesn’t necessarily mean retailers will lower their prices,” said Earnest. “So the consumer is still subject to a higher price point. And it’ll take a while for that to get shaken out.”

 

i'd tread with care....you don't wanna piss off swifties.

Taylor Swift fan stunned to learn Swifties may have lowered price of eggs in the U.S.


“You have the best fans in the world,” Trevor tells Taylor. “What they did with Ticketmaster… is amazing. I’m just wondering once they’re done with this, can you get them to handle the price of eggs?”

“There’s really nothing that they can’t accomplish,” responds Taylor. “They’ll get on it, just let them know what you need.”

Trevor concluded, “Swifties: price of eggs, down.”

As Americans are well aware by now, the cost of eggs has soared in the last year largely due to what’s being deemed the deadliest outbreak of bird flu in U.S. history. According to new data from the Consumer Price Index, the price of eggs rose 70% in January 2023 compared to January 2022.

 

Eggs spike due to a huge culling of hens due to avian flu.
Had nothing to do with Biden.
Just like the price dropping had nothing to do with Biden.

 

Can she run in 2024?

 

Whoa! Interesting question. By coincidence, she's turns 35 in December 2024. So, does she have to be 35 to be elected, or 35 to be inaugurated?
The Constitution and, perhaps, the fate of the country hangs in the balance.

 

So we can go back and look and we won't find any posts from you blaming him for inflation?

 

Biden clearly caused inflation in every country around the world. Never forget.

 

It is right to give him thanks and praise!

 

While I have many posts showing his covid relief/stimulus (call it what you will), added as much as 3% of the 9% max inflation (a third), you will never find me saying he was responsible for egg prices. It clearly was in large part to the culling of some giant number of egg laying hens. I actually (not here ) corrected numerous people on that specific issue.
Not an either or all or nothing issue man, you’re just trying to score some cheap points without being accurate.

 

Let me accuratize that for you since you have no basis in understanding economics to make that claim other than what you like to read in whacko right wing internet nonsense. No reasonable economist is making that claim, most say less than 1%. Supply chain disruptions, the oil shock from the invasion of Ukraine, affordable shelter crisis (too few homes and apts being built), empowered workers coming out of the pandemic asking for and getting higher wages, global inflation (we live in an interconnected world) and many other issues dwarf what ever Biden’s spending bill contributed. Most importantly the Fed took way too long to start rate hikes. Additionally, it’s important to note that much of that $1.9T has not been spent or even committed. Furthermore Trump in his last year in office had signed two separate bill totaling $3T for pandemic relief that absolutely got spent. Most of us (NOT ALL) know 3>1.9

https://thehill.com/homenews/admini...s-bidens-1-9t-bill-have-to-do-with-inflation/

however inflation is dropping quickly and it is right to credit Biden’s policies and the Fed for that.

 

Rationally you're absolutely correct although most voters do not use rationalize analysis. Whether or not he was at fault the sitting president almost always gets blamed for negative economic events including the increase in the price of eggs (using anecdotal data from one of my local supermarkets) from $1.99 a dozen to $4.99 a dozen. The same supermarket is now selling the for eggs for $2.79 a dozen although last week they had a sale price of $1.99 a dozen. By the way Trader Joe's is selling large white eggs at $1.79 a dozen. Biden will not get credit for the drop in the price of eggs since most other food items are still at or only slightly below their peak price.

 

Eggxactly!

 

That was the point of the OP.

 

Yes.

 

So are you saying that blaming Biden for the post pandemic inflation is wrong? Just checking.

 

I’ve posted analysis for left leaning sources in the past. Sorry you missed it.

What Biden policy has caused inflation to drop?

Yes the Fed waited too long, at least a few of your brethren hear we still saying inflation was transitory and it would go away in a few quarters.
Thank goodness the Fed didn’t listen to them to long but now has been forced to hammer away.

The US increased the money supply from about 15Trillion to over 21 trillion. Supply chains had zero to do with effects of that policy.

 

You may have missed my response to a similar question up thread.
Biden had nothing to do with the price of eggs going up.
But eggs aren’t the only thing that has risen dramatically and some of that is due to his policy.
Plenty of left leaning posters here have agreed that the his first stimulus/rescue plan whatever it was called was not needed and made inflation worse.