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(Ron Paul)—President Biden may have recently made history as the first president to discuss snack chips in the State of the Union message. He used snack chips to illustrate the phenomenon of shrinkflation. Shrinkflation occurs when businesses reduce the amount of goods sold in order to avoid raising prices. President Biden pointed out that businesses hope that, since both the price and the size of the package remain the same, most consumers will not notice they are getting fewer chips, cookies, or whatever other product has been affected by shrinkflation.
President Biden called on Congress to pass legislation, sponsored by so-called moderate Senator Bob Casey of Pennsylvania, to crack down on companies that reduce the amount of a good in a package. Biden and his congressional allies and media apologists think that this will stop shrinkflation. They think this because they believe shrinkflation is caused by corporate greed. In fact, shrinkflation is a rational response to increased prices caused by the Federal Reserve’s dollar depreciation.
Businesses reduce the amount of a product sold as a means to cope with rising prices of materials needed to make their products without directly raising the price paid by consumers. Unless greed is the only human emotion that fluctuates with the Federal Reserve’s policies, the fact that shrinkflation only occurs when Federal Reserve policies cause major price inflation should show anyone willing to think logically about these issues that the Fed, not greedy businesses, causes shrinkflation.
Making shrinkflation a federal crime would force more businesses to increase their prices. This would give the American people a more accurate picture of how the Federal Reserve’s price inflation is affecting their standard of living. Shrinkflation is impossible to quantify. Shrinkflation’s existence indicates that the impact of inflation is well above the Consumer Price Index’s report of a 3.2 percent increase in prices over the past year. The Federal Reserve’s interest rates increases have not been as effective in fighting price inflation as the government’s manipulated statistics make it appear.
If Biden wanted to stop inflation, he would start by reducing federal spending and paring down the over 35 trillion dollars national debt. These steps would allow the Federal Reserve to reduce its efforts to monetize the federal debt in order to keep borrowing costs low.
Disappointingly, but not surprisingly, President Biden’s proposed fiscal year 2025 budget fails to cut spending. It also proposes the government borrow nearly two trillion dollars a year for the next decade. While congressional Republicans have declared President Biden’s “big spending budget” dead on arrival, the fact is that, with few exceptions, Republicans are just as addicted to welfare-warfare spending as their Democratic counterparts. Therefore, instead of fighting for real and substantial reductions in spending, most Republicans are happy to pretend that getting Biden and the Democrats to agree to a one or two percent reduction in the rate of spending growth addresses the problem with excessive spending.
The movement to shrink government must continue to grow. To achieve this government shrinking goal, Congress must cut spending. Congress must also pass the Audit the Fed legislation and legalize competing currencies such as Bitcoin and precious metals. Congress should also pass legislation forcing the government to live within its means by forbidding the Federal Reserve from purchasing federal debt instruments.
Most Accurate Pollster From 2020 Drops Final Numbers
by JD Rucker
Atlas Intel, which was hands down the most accurate public poll during the 2020 election, just dropped its final poll of the season. It points to landslide victory for Donald Trump. If Kamala Harris is able to win Minnesota and Virginia, two blue states that are in jeopardy of being…
A Kamala Harris Victory Means Green New Deal Lawfare
by Daily Signal
Expect Kamala Harris’ Justice Department to wage Green New Deal lawfare if she is elected president on Nov. 5. As with every last issue pertaining to this election, Harris has not said much about the substance of her climate policy. But a review of her record suggests she’d be amenable…
The Moral and Spiritual Issues That Demand Our Votes
by Harbingers Daily
As a pastor and a preacher, I want to urge all Christians this election season: Get out and vote. I believe it is our duty as citizens of our state and country, but I also believe it’s especially important given the issues represented in this election. Many of these are…
No Matter the Final Vote, This Election’s Biggest Loser May Be the Legacy News Media
by Just The News
In the sultry days of summer 2020 as Donald Trump contemplated a second term, his aides engaged in a quiet conversation with members of the emerging digital media about an audacious idea. The goal was to bypass the traditional news media who monopolized the White House Correspondents Association press room…
Democrats Unveil Dark, Diabolical Plans to Prevent Trump From Retaking White House – Even if He Wins!
by WND
With results from the 2024 presidential election now imminent, Democrats have been vocal in their plans to subvert the will of the American people and prevent former President Donald Trump from retaking the White House if he pulls out a win over his Democratic rival Vice President Kamala Harris. In…
Trump Doesn’t Rule Out Banning Certain Vaccines if He Wins Election
by The Epoch Times
Former President Donald Trump in a new interview did not rule out banning some vaccines if he wins the upcoming election. “Well, I’m going to talk to him and talk to other people, and I’ll make a decision,” Trump told NBC over the weekend when asked if banning vaccines would…
Trump, Republicans Pin Hopes on Record Early Voting in North Carolina
by Jeff Louderback, The Epoch Times
(The Epoch Times)—In his final North Carolina rally of the 2024 campaign, former President Donald Trump predicted he would win the state where he prevailed in 2016 and 2020. “North Carolina’s reliable for me,” Trump said at Dorton Arena in Raleigh, the first of four stops on Election Day Eve….
If Godly People Don’t Vote, Godless People Will: The Christian Case for Voting
by The Blaze
Do Christians have a spiritual responsibility to vote? Allie Beth Stuckey of “Relatable” and the senior pastor of Lakepointe Church, Josh Howerton, believe the answer to that question is a resounding “yes.” “I’ll gently venture out on a limb,” Howerton tells Stuckey. “I think Christians have a spiritual responsibility to…
Here’s Proof the FBI Protected Biden in 2020, and Why Congress is More Important Than the White House
by PJ Media
You won’t find it reported on the A-section pages of the New York Times or the Washington Post even though it is quite likely the most significant report produced by any investigative committee in Congress since the Church Committee in 1976. For those who need a refresher, the investigative committee…
The Media Made Sure This Election Was Never Going to Be Free or Fair
by The Federalist
The corrupt news media lied to voters on behalf of Democrats over and over ensuring an unfair election. How can we ever return to normal? It’s truly awe-inspiring to watch the news media berate Republicans, down to the very end, over the “free and fair” election we’re most certainly not…
“It’s Not Going to Be Close”: Mark Halperin Says One Key Voter Group Will Decide the Election
by Harold Hutchison, Daily Caller News Foundation
(DCNF)—Journalist Mark Halperin said on Monday that the turnout of women would decide the presidential election between former President Donald Trump and Vice President Kamala Harris. Trump leads Harris by 0.1% in a head-to-head matchup, according to the RealClearPolling average of polls from Oct. 11 to Nov. 3, with Trump’s…
It Was the Night Before the Election, and Everyone Was Freaking Out
by Michael Snyder
(End of the American Dream)—I have never seen so much doubt, worry, anxiety, fear and panic as we approach a presidential election. All over the country, people are freaking out right now. Democrats are freaking out because the early voting numbers are so dramatically different from 2020. Republicans are freaking…
