Biden to launch joint FTC-DOJ task force
to crack down on 'unfair and illegal pricing'
CNBC,
by
Rebecca Picciotto
Original Article
Posted By: Dreadnought,
3/5/2024 4:40:08 PM
President Joe Biden on Tuesday will launch a new task force to take on "unfair and illegal" corporate pricing, which Biden sees as a major reason why consumers are not yet feeling the impact of cooling inflation rates and a strong economy.
The task force will be jointly led by the Federal Trade Commission and the Department of Justice, two agencies at the forefront of the Biden administration's aggressive regulatory agenda over the past three years. "We're excited to be co-chairing the president's new Strike Force on Unfair and Illegal Pricing, which builds on the FTC's far-reaching work to promote competition and tackle unlawful business practices that are inflating costs
Post Reply
Reminder: “WE ARE A SALON AND NOT A SALOON”
Your thoughts, comments, and ideas are always welcome here. But we ask you to please be mindful and respectful. Threatening or crude language doesn't persuade anybody and makes the conversation less enjoyable for fellow L.Dotters.
Reply 1 - Posted by:
WV.Hillbilly 3/5/2024 4:49:13 PM (No. 1671197)
Can wage & price controls be far behind?
19 people like this.
The natural consequences of Bidet enomics is inflation and misery. Well duh….
17 people like this.
Reply 3 - Posted by:
weirdone 3/5/2024 4:52:43 PM (No. 1671200)
If Joe Biden and the morons who advise him would discontinue their proliferate spending inflation would ease and there would be no need for his proposed fascist jack booted task force.
13 people like this.
Reply 4 - Posted by:
Mcscow sailor 3/5/2024 4:59:33 PM (No. 1671206)
We the peiople are getting $3 trillion of gov services for $6 trillion. Start there
19 people like this.
Reply 5 - Posted by:
Bmoc 3/5/2024 5:02:41 PM (No. 1671207)
He's looking to kill more businesses to further destroy America.
22 people like this.
Reply 6 - Posted by:
marbles 3/5/2024 5:05:47 PM (No. 1671209)
They're looking to destroy capitalism.
23 people like this.
Reply 7 - Posted by:
Jethro bo 3/5/2024 5:08:42 PM (No. 1671211)
Talk about a steaming pile on the cow trail, this is it! Unfair means 'it ain't free' and illegal means 'a profit was made'. More central planning and pricing al la Federal goobernment. Bet this works as well as that central planning 10 year plan on electric cars.
12 people like this.
Reply 8 - Posted by:
EQKimball 3/5/2024 5:18:09 PM (No. 1671219)
Illegal pricing? Vehicles, food, entertainment, education, energy, health, transportation, recreation? What sector of the economy has price controls?
10 people like this.
Reply 9 - Posted by:
DVC 3/5/2024 5:21:10 PM (No. 1671221)
Also known as "the free market" and "capitalism" and FREEDOM.
12 people like this.
Reply 10 - Posted by:
Krause 3/5/2024 5:31:19 PM (No. 1671226)
Doing everything except what needs to be done for the people.
9 people like this.
Reply 11 - Posted by:
Twinkle93 3/5/2024 5:34:47 PM (No. 1671228)
If you do not want to be targeted, please send your donations to DNC and the Biden family.
6 people like this.
Reply 12 - Posted by:
stablemoney 3/5/2024 5:35:38 PM (No. 1671229)
What should be cracked down on is deficits. If done, there would be no pricing issues.
5 people like this.
Reply 13 - Posted by:
snapper451 3/5/2024 5:42:35 PM (No. 1671232)
The Snickers bar people must be shaking in their boots over this. Shrink-flation is more important than the border surge to this administration.
4 people like this.
Reply 14 - Posted by:
chance_232 3/5/2024 5:46:27 PM (No. 1671238)
Nothing this "committee" does will have any real impact before November. This is about optics and making it look like evil Republican business owners are making a profit at the expense of the demicrat base. And geeeee isn't Biden working hard for us?
More tilting at wind mills
8 people like this.
Reply 15 - Posted by:
jalo1951 3/5/2024 5:59:05 PM (No. 1671248)
Seriously? It's the Monopoly Money handouts, the regulations, the attacks on our farming community, the attacks on our energy. Inflation is a cumulative amount that adds up monthly and never goes away. The rising cost of the product might slow but it too will be added with the previous months. Three years ago chuck roast was $3.98 a pound. Today it is $7.98. Nothing is going to change that. And with the bimbo in NY going to sue the largest beef producer it is going to get worse. Went to Meijer and Kroger yesterday. The meat containers were 80% bare. So feel free to take your cookie and stick it where the sun don't shine.
11 people like this.
Reply 16 - Posted by:
Geoman 3/5/2024 6:08:38 PM (No. 1671256)
In a free market, you need a willing seller and a willing buyer, not the FTC and DOJ. Government market intervention does not a free market make.
3 people like this.
Reply 17 - Posted by:
mc squared 3/5/2024 6:09:47 PM (No. 1671257)
Expect to hear much about potato chip bags getting smaller for 3 years in his state of the union. Does ANYONE want to hear the alleged leader of the free world spew this drivel?
1 person likes this.
Reply 18 - Posted by:
thefield 3/5/2024 6:23:11 PM (No. 1671266)
Joe knows, joe is an expert in illegal pricing
4 people like this.
Reply 19 - Posted by:
planetgeo 3/5/2024 6:36:15 PM (No. 1671269)
In other words, full on communism.
2 people like this.
Reply 20 - Posted by:
whyyeseyec 3/5/2024 6:38:01 PM (No. 1671270)
This will lead to one of two things - shortages or more business closures. If Biden owned a major league baseball team, he would be the first owner to go 0-162.
3 people like this.
Reply 21 - Posted by:
jeffkinnh 3/5/2024 6:56:33 PM (No. 1671280)
Unfair and illegal? Show me the law.
No one is forcing anyone to buy anything. It sits on a shelf with a price on it. Someone either picks it up or doesn't. If they pick it up and know the price, what's the problem? That's why it is called a Free Market.
Also, why can't a merchant set whatever price they want for their goods? Again, if you don't want it for that price or can't afford it, you seek out another alternative. Sure, there are some limited cases, like in disasters, where there are laws in place to protect the public. But even then, high prices for some scarce supplies are legitimate even when very high.
A lot of time, increased costs to a manufacturer force them to either increase their prices OR, offer a smaller amount for the same price.
BTW, this is NOT anything new.
In 2002, Nestlé downsized to a smaller container and so the standard US half gallon (2 quart) container (1.89 L) was downsized to 1.75 quarts (1.65 L). In May 2008, the 1.75 quart container was further downsized to 1.5 quarts (1.42 L). People are still buying ice cream. Biden, the ice cream addict, surely should know this. He probably forgot.
Anyone with a brain knows MANY examples of this happening. It's NORMAL business and again, if you don't like it, you don't have to buy it.
The only action that could be taken is government price controls which are ALWAYS a disaster. It usually leads to shortages since it makes no sense for someone to manufacture something if the price is capped and there is no profit in making it.
And to wrap it all up, the REASON for increased costs forcing the smaller portions or increased prices is Biden's out of control spending. He is trying to pass the buck but it is sticking to his fingers.
Biden is in so much trouble he is pulling a classic "Look, what's that over there?" move as a distraction. The biggest problem for team Biden is that they are incompetent as a whole and pulling this off smoothly is beyond their abilities. They just look dumb.
6 people like this.
Reply 22 - Posted by:
caljeepgirl 3/5/2024 6:58:51 PM (No. 1671281)
Wow, the stupid never stops! Has he ever heard of a free market? You know, supply and demand.....
4 people like this.
Reply 23 - Posted by:
OhioNick 3/5/2024 7:19:26 PM (No. 1671287)
Will we forced to wear Whip Inflation Now buttons like in the mid-1970s?
3 people like this.
Reply 24 - Posted by:
Socio 3/5/2024 7:55:21 PM (No. 1671310)
One thing is for sure this is not about reducing prices, the question is what are they up to?
Twisting some arms for Biden support? Targeting companies that refuse to go woke? Bankrupting companies at the behest of their woke competition?
1 person likes this.
Reply 25 - Posted by:
downnout 3/5/2024 8:27:38 PM (No. 1671344)
This fool and his flying monkeys in the White House are so ignorant of market forces I wonder how they manage. Do they have “staff” that does their shopping for them?
2 people like this.
Even Biden's mind went from a quart to a pint and still melting like ice cream.
0 people like this.
Reply 27 - Posted by:
mifla 3/6/2024 5:02:44 AM (No. 1671515)
Tell the task force to kick Biden out of the WH. Problem solved.
1 person likes this.
Below, you will find ...
Most Recent Articles posted by "Dreadnought"
and
Most Active Articles (last 48 hours)