Stuart Varney: Biden can't afford to admit the truth about inflation
FOX Business' Stuart Varney reacts to Sen. Elizabeth Warren, D-Mass., and President Biden for blaming inflation on "price fixing" and "corporate greed" in a election year.
During his "My Take" on Wednesday, "Varney & Co." host Stuart Varney called out Sen. Elizabeth Warren, D-Mass., for accusing big food producers of "price fixing," arguing it's an attempt by Democrats to explain inflation in an election year.
STUART VARNEY: Sen. Elizabeth Warren has declared war on Big Food.
The senator demands a task force to investigate giant grocery store chains and giant food producers which, she says, raise prices to "pad their profits."
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In a letter to the president, she writes, "78% of Americans support taking action against giant food producers that engage in price fixing."
This is how the left explains the inflation they themselves created.
They push the notion that it's all the fault of big business, wielding monopoly power to gouge the consumer.
That's a weak argument. The four big grocery chains take only one third of the grocery market.
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That's not a monopoly. That's a competitive marketplace. There's no fixing of prices.
The market establishes the price. Supply and demand rules. The left ignores this economic reality.
So does the president. He blames inflation on "corporate greed."
They have to say this. They can't afford to admit the truth.
The truth is that the inflation that's hurting us all was started by Biden's ill-advised energy policy, and Biden's unnecessary $1.8 trillion spending plan.
It didn't help that the Fed printed another couple of trillion.
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But Sen. Warren is a politician and this is an election year.
Attacking Big Oil, Big Pharma and now Big Food, Warren is appealing to the little guy.
It's pure politics. Sen. Warren is a socialist.
Attacking capitalism will do nothing to bring prices down and, hopefully, demagoging business will win few votes.