Smoke and Mirrors? Elizabeth Warren Calling for Justice Department to Investigate Rising Poultry Prices

Here we go again.

Inflation is soaring, hitting a record 6.2% in October posing a huge problem for the Biden administration and majority Dems on Capitol Hill. There is little doubt how the inflation got so out of control, mass amounts of government spending and regulations creating supply problems, employment problems and driving prices through the roof.

As the Dems desperately work to pass Biden’s bohemoth “Build Back Better” spending plan they are increasing faced with criticism that it too will drive up inflation.

What to do, what to do?

Well, if you are part of the establishment, you launch an investigation into rising prices of course.

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As Americans are faced with huge price increases to feed their families, Sen Elizabeth Warren (D-MA) decided to take a stand, calling on the Justice Department to investigate the rising costs of poultry.

Warren said in a letter that consumers are paying higher prices because of excessive consolidation, price-fixing and “plain-old corporate greed.”

Prices for chicken breasts have jumped 26% over the past year, according to U.S. Labor Department data, while turkey prices were up 24% in an annual American Farm Bureau Federation survey ahead of Thanksgiving.

Warren has also urged the department’s Antitrust Division to review “with suspicion” any large mergers in the industry, after Cargill Inc and Continental Grain said in August they would buy chicken company Sanderson Farms for $4.53 billion.

The meat industry has said increased demand and the labor shortage have boosted prices. Four processors control 54% of the chicken market, up from 35% in 1986, according to the Biden administration.

“Lack of competition in the poultry industry is allowing these massive companies to squeeze both American consumers and farmers to fuel record corporate profits and payouts to shareholders,” Warren said.

Funny there was no mention of employee shortages and transportation shortages wreaking havoc across multiple industries.

It is also not surprising that this “investigation” comes on the heels of Joe Biden requesting the FTC Chairwoman Lina Khan to investigate what he called “mounting evidence of anti-consumer behavior by oil and gas companies” last Wednesday.

Biden stated that according to AAA, the average price for a gallon of gas at the pump in the U.S. is $3.41, up 3% from last month.

“I do not accept hard-working Americans paying more for gas because of anti-competitive or otherwise potentially illegal conduct,” Biden said, but did not specifically name any illegal activities.

Biden failed to mention that he has essentially stopped all drilling and fracking in the United States, halted the Keystone Pipeline and is threatening to shut down the Line 5 pipeline in Michigan.

Biden’s oil price investigation was met with harsh criticism by the oil industry. Frank Macchiarola, a senior vice president of the American Petroleum Institute, tweeted a statement:

“This is a distraction from the fundamental market shift that is taking place and the ill-advised government decisions that are exacerbating this challenging situation,” Macchiarola said.

https://t.co/CVA6pEfkoy pic.twitter.com/29Cke0COE3

— American Petroleum Institute (@APIenergy) November 17, 2021

Macchiarola has the appropriate solution:

“Rather than launching investigations on markets that are regulated and closely monitored on a daily basis or pleading with OPEC to increase supply, we should be encouraging the safe and responsible development of American-made oil and natural gas,” Macchiarola said.

Warren might take note: rather than investigating the poultry industry, incent people to go back to work rather than paying them to stay home and fix the ridiculous laws hampering shipping and transportation.

Wonder what industry will be targeted next?