Trump already backtracking on campaign pledge to bring down grocery prices

Him trot out bullshit? Never.

 

It's almost like everyone on this board with a background in economics was here saying that price drops are very bad and signal of a recession. But college education is bad, mmkay

 

And prices, together with immigration, were supposedly deciding issues in the election. Anyone who paid attention knew the former is beyond a president's control, and that the latter is going to be a disaster.

 

Don't forget tariffs. 90% of the food we import comes from Mexico or Canada. And in Arizona, about 1/3 of our fresh produce comes from Mexico. Impossible to drive down prices while enacting a 25% tariff at the same time.

 

Just having grocery prices go down would be ok, but actual deflation (general price drop) would be bad. There is a reason the FED shoots for 2%.

 

You gotta remember Trump is mostly bluster & m@rketing. He very well may put 25% on very little in the end & declare a great victory. Show me the pub that doesn't think new nafta is better than old nafta despite knowing 0 about either. alls they know is 1 was a disaster & 1 is making america great again.

p.s. FYI, m@rketing still is problematic for me to post here.

 

“Promises made, voters duped.”

 

According to this boards favorite fact checker Politifact Joe Biden broke 32% of his campaign promises. So what's new?
Biden Promise Tracker | PolitiFact

 

That didn’t last long. So much for promises made, promises kept.

 

And they will certainly kill things like this ftc suit against south largest liquor distributor and approve grocery mergers previously denied. Less competitive prices with more mergers and acquisition

FTC set to sue country’s largest alcohol distributor over pricing

 

Agree! But, surprisingly, you got a disagree. Was there an explanation for it? (I ignore that poster.) I can't imagine what the basis for it would be

 

Just reposting this for those who want claimed they voted based on the economy (everyone), so we can judge based on objective factors, one way or the other.

 

Trump isn't stupid. He undoubtedly knew that he couldn't roll back to prices. Not so for the gullible marks who believed him and ended up electing him to a second term.

 

good think Kamala was quiet on the campaign trail when it came to food prices

 

There were obviously multiple reasons Trump won and so easily. But the idea that higher food and gas prices were all Biden's fault and that Trump would quickly lower them was certainly part of it.

 

Shoot, even just grocery prices might be bad. Just checked and it's roughly 12% of us expenditure. That's at home and restaurant.

But consider all the stuff the goes into it. Packaging. Transportation. Disposal. Advertising. Utilities. Etc.

Obviously I'm painting with a broad brush without researching details. But even if just food costs retreated significantly I think that may be bad.

 

even then, just dropping say 10% with no expectation of further retreats would be fine. It is the expectation of prices being lower in the future that makes deflation bad. & people have to eat, so they aren't gonna delay consumption the way they would for other goods & services.

 

Don't grocery stores have razor thin margins though? Seems like a price drop there would be more damaging

 

I don't think they would drop their prices unless the price they pay dropped. Anyway, it ain't gonna happen. Besides, prices tend to be very sticky