In what could quickly become a feature of this column, here is another scene from “how we know it's an election year and the incumbent is in trouble.”
Once again, our star is President Joe Biden, who we last saw plying voters in the Northeast with the release of cheap (he hopes) gasoline from a federal reserve. This time, we find Mr. Biden trying to claim credit for something he genuinely doesn't seem to understand: price competition.
The action centers on a move from Target to lower prices on 5,000 “everyday” items. Behind the company's move is the hard realization that its customers are pinching pennies – and in some cases, taking their business elsewhere. As NPR reported:
The price cuts are part of an effort to keep consumers visiting stores and restaurants. More families have been tightening their budgets after years of inflation. Companies especially note that lower-income families have pulled back, prioritizing necessities.
Yes, inflation does take a bite. As a result, shoppers look to spend a little more wisely on necessities. For Target, that means they are entering a price war with one of their major competitors for groceries and household goods: Walmart.
For its part, Walmart notes that people are, indeed, watching their spending. But that includes a whole new class of Walmart customer who is looking for bargains:
“We are seeing customers trade into Walmart,” CFO John Rainey said recently, indicating that even shoppers who make $100,00 or more annually are opting for Walmart thanks to its wider range of variety and quality.
“We're seeing higher engagement across income cohorts, with upper-income households continuing to account for the majority of the share gains,” Rainey added.
The reason isn't hard to fathom: who doesn't like a bargain? Especially on basics like food and household goods. Therefore, the major retailers of such products will begin to compete even more fiercely on price and selection.
All to the benefit of their customers. If any of this competition results in lower prices elsewhere in the economy – to the extent that official inflation numbers decline – so much the better.
Enter Joe Biden, who may not know much about price competition but does have a practiced politician's understanding of the need to claim credit for other people's work:
President Joe Biden took a victory lap after Target announced it was lowering prices on groceries and other items — and hopes voters will give him the credit.
“President Biden called on grocery chains making record profits to lower prices for consumers — and they're answering the call,” the White House wrote in a social media post Monday evening in response to a headline about Target's price cuts.
How nice.
Though Biden's “victory lap” has nothing to do with Target's actions, it does add to the idea that Team Biden knows it's in trouble. Look for much more of ‘Claim Jumper Joe” in the months ahead.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Biden's Hail Mary Attempt At Lowering Gas Prices In An Election Year
Biden Takes Credit For Price Reductions At Major US Retailers
Will Trump Dump JD Vance?
ANALYSIS – Is Trump regretting his VP pick? Will Trump tell Vance he is “fired”? When former President Donald Trump selected J.D. Vance as his vice presidential candidate soon after surviving an assassination attempt, some called the choice bold and a doubling down on Trumpism.
I said he could help Trump make his case in 2024 and be the GOP standard bearer in 2028. Still, I also said I would have preferred Trump had picked a woman, and that I had some reservations about Vance as VP, including his youth and inexperience.
Fox News’ Kilmeade Fires Back At Racism Allegations
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
Does This Single Fact Signal Our Imminent Financial Collapse?
In what could quickly become a feature of this column, here is another scene from “how we know it's an election year and the incumbent is in trouble.”
Once again, our star is President Joe Biden, who we last saw plying voters in the Northeast with the release of cheap (he hopes) gasoline from a federal reserve. This time, we find Mr. Biden trying to claim credit for something he genuinely doesn't seem to understand: price competition.
The action centers on a move from Target to lower prices on 5,000 “everyday” items. Behind the company's move is the hard realization that its customers are pinching pennies – and in some cases, taking their business elsewhere. As NPR reported:
Yes, inflation does take a bite. As a result, shoppers look to spend a little more wisely on necessities. For Target, that means they are entering a price war with one of their major competitors for groceries and household goods: Walmart.
For its part, Walmart notes that people are, indeed, watching their spending. But that includes a whole new class of Walmart customer who is looking for bargains:
The reason isn't hard to fathom: who doesn't like a bargain? Especially on basics like food and household goods. Therefore, the major retailers of such products will begin to compete even more fiercely on price and selection.
All to the benefit of their customers. If any of this competition results in lower prices elsewhere in the economy – to the extent that official inflation numbers decline – so much the better.
Enter Joe Biden, who may not know much about price competition but does have a practiced politician's understanding of the need to claim credit for other people's work:
How nice.
Though Biden's “victory lap” has nothing to do with Target's actions, it does add to the idea that Team Biden knows it's in trouble. Look for much more of ‘Claim Jumper Joe” in the months ahead.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Biden's Hail Mary Attempt At Lowering Gas Prices In An Election Year
Norman Leahy
Will Trump Dump JD Vance?
Search
follow us
subscribe
Trending Stories
Will Trump Dump JD Vance?
ANALYSIS – Is Trump regretting his VP pick? WillBacklash Grows As Harley-Davidson Infected With Woke Virus
ANALYSIS – Say it isn’t so! Even asProject 2025 Will Return Sanity To Our Woke Military
ANALYSIS – “I disagree with some of the thingsNew Impeachment Investigation Launched Into Allegations Hunter Biden Invoked Joe’s Name
Congressional investigators are looking into further allegations againstCommentary
Will Trump Dump JD Vance?
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
Does This Single Fact Signal Our Imminent Financial Collapse?
Smoke Shop Shooting: 71-Year-Old Stops Armed Burglar
Security
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Kamala Harris ‘Owns’ All Of Biden’s Many National Security Failures
US Support For Israel In Its War Must Be ‘Ironclad’
US Fighters Intercept Chinese And Russian Bombers Near Alaska
Foreign Affairs
Trump’s ‘Dying Wish’ Exposed – What He Wants If Assassinated
Attacks Disrupt Paris: Major Infrastructure Targeted Hours Before Olympic Games
US Fighters Intercept Chinese And Russian Bombers Near Alaska
Disruptions Linger After IT Update Crashes Computer Systems Worldwide
Business & economics
Does This Single Fact Signal Our Imminent Financial Collapse?
Elon’s ‘Final Straw’ To Cost California Millions
Meet The Man Who Tracks Pelosi’s Investments – Guess His Earnings Last Month?
Congress Investigating Whether Woke Activists Broke Federal Tax Law With ESG Investment Schemes
heath & science
Old School Sold For Next To Nothing To Planned Parenthood
Elon Musk On Estranged Child: ‘Killed By The Woke Mind Virus’
Congressman Claims Biden Didn’t Recognize Him Despite Their Friendship
Congresswoman Sheila Jackson Lee Succumbs To Pancreatic Cancer
American Liberty Arms
Trump Shooter Put in Range Time Weeks Before Assassination Attempt
Armed Georgia Man And A Labradoodle Capture Inmate
More Anti-Gun Groups Fabricating Mass Shooting Data
The Truck Gun For Active Killer Interdiction: Realistic?
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
TOP TAGS
TOP CATEGORIES
FEATURES
American Liberty News ©2022
Evolution Digital Media | 1900 Reston Metro Plz | Suite 600 | Reston, VA 20190