Joe Biden has found another target for increasing gas prices. Gas stations had spent months trying to blame Vladimir Putin and oil companies for the rise in gas prices. The president unleashed a threatening statement, proclaiming this a “time of war and global peril,” demanding prices be lowered.
It was amazing to see the economic ignorance displayed.
To the gas station operators and pump price-setting companies, my message is clear: This is the time of global war.
Bring down the price you are charging at the pump to reflect the cost you’re paying for the product. Get it done now.
— President Biden (@POTUS) July 2, 2022
You don’t have to be the President of the United States to understand that gas stations make very little off a gallon of gas. They often make a small profit, spending most of their profits on convenience stores. This was something I had assumed to be common knowledge. However, there is no way to know for sure when you deal with Biden.
Gas stations are also often locally owned, and even if they aren’t, they are at the mercy of the cost of supply. Contrary to the president’s attempt to make it seem like big corporations are colluding to raise prices, there is actually heavy competition that prevents such. All the owners of gas stations cannot conspire secretly to maintain high prices. There would only be one station that would lower its price by 5 cents, which would make it impossible to have them all.
Jeff Bezos is the creator of Amazon, and also owns The Washington Post. Biden was dragged by him as he made his comments.
Ouch. This is too serious a problem to continue making such statements by the White House. It’s either straight ahead misdirection or a deep misunderstanding of basic market dynamics. https://t.co/XgKfEICZpk
— Jeff Bezos (@JeffBezos) July 3, 2022
Bezos has it right. You don’t bring down inflation by targeting businesses with government threats. That’s the stuff of third-world dictatorships, and it always leads to economic collapse. You can bring down inflation by having reasonable monetary spending and monetary policy, which is exactly what the Biden administration refuses to do. The president now wants to be blamed for his mistakes, but his passing of the buck just seems weak and pathetic.
And yet, I’d caution Republicans to be very careful here. Jeff Bezos may not be your friend. In fact, he’s one of the primary reasons Biden was elected, leading to the current economic crisis. The 2020 election was influenced by millions of donations, a DNC-dictated media outlet in The Washington Post and all the other issues. Bezos might have been smarter, but he was a Democrat and helped propel the country to the top.
Only now that he may be financially affected by Biden’s disastrous decisions is he speaking out. Never trust a person who only speaks when it’s convenient. And while I know it’s tempting to cheer Bezos on because conservatives are often desperate for validation, I’d suggest looking elsewhere.
Many months ago, I penned a piece entitled “Big Business Sides With Joe Biden, and Republicans Better Not Forget.” At the time, it was in relation to unconstitutional private-sector vaccine mandates.
However, the tables will eventually be turned if political winds keep blowing right into 2022. Republicans should remember the corporate America members who joined Joe Biden to crush individual liberty when they retake Congress. Republican legislatures and governors need to have a good memory. When those companies come calling for more subsidies, favorable regulations, and bail-outs, the answer should be simple – NO.
Well, I haven’t forgotten, and I hope Republican politicians haven’t either. This group of mega-corporations has spent many years spewing lies at you on a variety of topics. They don’t get to change their tune the moment it’s time to keep Democrats from raising taxes. Bezos made his bed. He selected his friends. He should now be forced to face the consequences.
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