Locator: 46935SHRINKFLATION.
Never let a crisis go to waste.
Shrinkflation is not exactly a crisis but President Biden is not about to let this demagogic issue go unaddressed.
Price controls?
Now that President Biden has instructed his Department of Commerce to set rules and regulations on deceptive advertising, the nose of the donkey is inside the barn door as they say. Once a government agency gets the go-ahead to do something, there's no telling where that agency will stop.
You like price controls? Just let the government define "shrinkflation" and then let them set rules and regulations on pricing. I assume the government will pick a baseline year that fits their agenda best, perhaps 1951, and then go from there.
At best we will now see two huge labels on all food products:
- the Nutrition Facts label, link here; and,
- the Fair Pricing label, link pending.
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