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by jeffbee 1242 days ago
It's pretty irritating that in the presence of clear collusion and abuse inflicted upon general consumers of things like eggs and motor fuels and insulin, the administration spends its limited enforcement capacity this way.
5 comments

It turns out that the US government can do more than one thing at a time, and they are in fact acting in many cases simultaneously, including insulin.

They haven't been "limited" so much in the past as "unmotivated and inept," which has been changing over the last few years.

If you're actually interested in the changes, check out Matt Stoller's newsletter: https://mattstoller.substack.com

You'll be happy to know that the FTC is actually investigating and taking action against all of those things, though the egg price investigation is only a Senate request at this point.

https://www.ftc.gov/news-events/news/press-releases/2022/06/...

https://www.ftc.gov/news-events/news/press-releases/2022/06/...

https://www.axios.com/2023/01/24/egg-prices-gouging-ftc-inve...

Having FTC leadership that isn't insanely conflicted makes a difference.

https://thehill.com/policy/technology/388069-ftc-names-lawye...

We joined on collusion for oil at the start of the pandemic with an oil production cut deal that lasted into 2022:

> Oil prices remained depressed for the rest of March. On 2 April, U.S. President Donald Trump, after significant internal pressure, called Saudi Arabian crown prince Mohammed bin Salman, threatening to withdraw U.S. military support if OPEC and its allies did not cut oil production.[33] The following day, Russian President Vladimir Putin ordered energy minister Alexander Novak to prepare an extraordinary OPEC meeting and stated that global production could be cut by 10 million barrels. In response to Putin's statement, oil prices jumped.[34] Even with a 10 million bpd cut, the International Energy Agency estimated that global oil stockpiles would still increase by 15 million bpd. IEA's director, Fatih Birol, stated that 50 million jobs related to oil refining and retail was at risk globally.[35] US oil prices increased by 25% on 2 April, the biggest one-day increase in history. Brent oil increased to $32 on 3 April.[36]

https://en.wikipedia.org/wiki/2020_Russia%E2%80%93Saudi_Arab...

Almost as soon as we became a net exporter, we joined in on everything we complained about others doing in the 70s.

You've got to start somewhere. Google might not exercise its powers in ways that obviously hurt consumers the same way the Eggflation debacle is panning out, but I'm sure the second order effects cause us all a world of pain.

Here's hoping the US government turns a new page and starts a new era of anti-trust breakups. Pretty much every industry has been destroyed by monopolies over the past 20-30 years with next to no enforcement.

Last mile internet access is a pretty big must-have, as well.