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Around the halls: How leaders and publics around the world are reacting to events at the Capitol

On January 6, 2021, while members of Congress met to certify the election of Joe Biden as the next president of the United States, a pro-Trump mob — urged on by the president — stormed and occupied the Capitol in Washington, D.C. The insurrection…

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By Madiha Afzal, Marsin Alshamary, Ranj Alaaldin, Célia Belin, Charles T. Call, Vanda Felbab-Brown, Lindsey W. Ford, Ryan Hass, Kemal Kirişci, Suzanne Maloney, Michael E. O'Hanlon, Bruce Riedel, Natan Sachs, Constanze Stelzenmüller

On January 6, 2021, while members of Congress met to certify the election of Joe Biden as the next president of the United States, a pro-Trump mob — urged on by the president — stormed and occupied the Capitol in Washington, D.C. The insurrection was met with shock around the country and the world.

Below, Brookings experts on foreign policy explain how the dramatic events are being viewed globally.


Madiha Afzal (@MadihaAfzal), David M. Rubenstein Fellow in the Center for Middle East Policy and the Center for Security, Strategy, and Technology: The official reaction in Pakistan was limited to the foreign ministry, which issued a relatively bland statement saying it was watching the events in Washington, and that it hoped for the situation to normalize soon and not to impact the presidential transition.

The public reaction was louder — and many-layered. People were watching closely, certainly. There was shock at the images of the insurrection in Washington unfolding on their screens. Some noted that past statements that American officials made on political transitions in Pakistan would be more applicable to the United States at this point. But at the same time, there was strong resistance to simple comparisons between the United States and countries like Pakistan. There was a sense that America had to reckon with its problems rather than indulge in a facile takedown of other countries at its own moment of crisis. And Pakistani meme-makers went to work — juxtaposing pictures of the pro-Trump extremists who stormed the Capitol next to right-wing extremists in Pakistan who have caused major destruction in the streets of Islamabad during sit-ins, very close to the seat of government.

All in all, it seems clear that these images will linger in the minds of those abroad. And that means that there will be a need for greater humility and sensitivity as America deals with issues of democracy around the world, including in countries like Pakistan.

Ranj Alaaldin (@ranjalaaldin), Nonresident Fellow in the Center for Middle East Policy: The insurrection has empowered nefarious actors in Iraq, the militia groups and criminal enterprises who thrive when America’s democracy becomes imperiled. That has deadly implications for the local population. Away from the glare of the international media, it is the progressives and moderates in unstable and conflict-stricken countries like Iraq that suffer, both in the short and long term. Iraq’s protest movement has made a brave push for democratic values and good governance, at great cost to the wider civilian population and in the face of powerful Iran-aligned death squads and paramilitary groups. The rioting in Washington on January 6 will empower these groups as they look to exploit the insurrection to mount additional violent crackdowns against protesters and civil society. Some in Iraq also wish to use the January 6 events to distort and undermine the fundamental international norms and democratic principles that large swathes of the Iraqi population have embraced, but that ruling elites have struggled to implement. America’s failure to practice what it preaches has limited consequences at home, where democratic and law enforcement institutions are still strong and effective, but the consequences for others elsewhere around the world can be deadly and devastating.

Marsin Alshamary (@MarsinRA), Post-Doctoral Fellow in the Foreign Policy program: In Iraq, the public is seeing parallels between the Washington, D.C. insurrection and their own experience with politics in the last 17 years. Iraqi social media is flooded with comedic takes on the events in Washington, which make direct comparisons between Iraqi and American political figures. For example, Iraqis are recalling an event in 2016 when the followers of Muqtada al-Sadr overtook the Iraqi parliament, although that event was unrelated to election results. In a tweet, Sadr wrote: “We have always told you that Western democracy is misleading and artificial.”

Other Iraqi political elites, particularly those not allied with the U.S., have reacted in a similar way to leaders of authoritarian countries who were eager to expose the pitfalls of American democracy and double standards. More balanced analysis of the events in Washington point to the fact that democratization is always a work in progress and should never be taken for granted. In the future, the U.S. would be well-advised to approach democratizing states with less hubris and to recognize that the social divisions that make governance difficult in Iraq are similar to the unaddressed social and racial inequalities that plague American society.

Célia Belin (@celiabelin), Visiting Fellow in the Center on the United States and Europe: The events this week have been intensely covered by French media and followed by a French public mostly staying at home under COVID-19 restrictions. On social media, they expressed incredulity and shock, but also dismay at the underperformance of law enforcement, and the perceived amateurism of the rioters. Compared to other European countries, official reactions came in relatively late in the day and did not directly lay the blame on President Trump. French President Emmanuel Macron issued an unusual video in front of U.S., French, and European Union flags, where he expressed solidarity and faith in the resiliency of American democracy. He stressed the common threats facing democracies such as France and the United States, echoing a favored theme.

Marine Le Pen, leader of the far-right National Rally, deplored the events and recognized Biden as the president-elect. But her camp continues to express support for Donald Trump and spread conspiracy theories regarding fraud allegations and antifa rioters. She also denounced censorship of Trump on social media, which the vice president of the National Rally called “digital totalitarianism.” Jean-Luc Mélenchon, of the far-left France Insoumise, suggested that this was a natural backlash in response to the U.S. “organizing coups” and “rigging elections” abroad. Some French have compared the violence of the riot in the Capitol to the Gilets Jaunes (yellow vest) protests, in particular the 2018 vandalizing of the Arc de Triomphe. In the context of a tense pre-presidential campaign season, many French view the political divisions and violence plaguing America as harbingers of conflicts to come in their own country.

Charles T. Call (@call4pax), Nonresident Senior Fellow in the Center for Security, Strategy, and Technology and the Latin America Initiative: The sight of the U.S. Capitol being invaded by a mob sparked diverse reactions among Latin Americans, including horror, sympathy, and familiarity. One common reaction was to dismiss the notion of American exceptionalism. The United States showed itself to have much in common with other countries that have experienced instability, racism, and authoritarianism. Correspondingly, many used the occasion to criticize the moralizing tone of U.S. policy toward the region, noting that preaching about democracy and human rights will ring hollow. Some denounced the centuries-old “Monroe Doctrine,” which had been re-embraced by the Trump administration. Humorous memes about banana republics and the U.S. role in perpetrating coups swept through social media.

On the other hand, Latin American commentators also expressed sadness and sympathy with the plight of the United States. Already concerned about the rise of authoritarian populism in the region, pro-democracy advocates in the region see the urgency of the fight against white nationalism and extremism in the United States. There is little question that the fate of political movements in the United States affects the region, and the disquiet felt by North Americans is also being felt by Latin Americans.

Vanda Felbab-Brown (@VFelbabBrown), Senior Fellow in the Center for Security, Strategy, and Technology: Mexican President Andrés Manuel López Obrador remains one of the world’s few leaders who has not condemned the violence on Capitol Hill. Under the guise of non-interference in other countries’ affairs, he stated: “We’re not going to intervene in these matters, which are up to the Americans to resolve.” Yet at the same time, this very week, he offered asylum to Julian Assange, clearly prepared to interfere in U.S. justice issues.

Despite the invectives President Trump has levied against Mexican people, López Obrador has maintained a sort of friendship with Donald Trump, a relationship based on the Trump administration’s willingness to ignore Mexico’s faulty policies and backsliding in a range of issues. López Obrador issued an oblique statement in response to questions about the mob aggression on Capitol Hill, saying: “We hope there will be peace, that democracy, which is the people’s power, will prevail.” That can be read between the lines as an endorsement of Trump’s tactics of street protests and thuggery, something López Obrador, a fellow populist, employed in order to protest and try to reverse his electoral defeat in 2006. The Mexican president also criticized Facebook and Twitter for banning Trump for his incitement of the violence.

López Obrador’s lack of condemnation is all the more significant given the Mexican government’s recent actions: López Obrador refused to congratulate Joe Biden on his electoral victory and recently announced that he would not attend Biden’s inauguration. And last month, he eviscerated U.S.-Mexican security cooperation. López Obrador is setting up a posture of a very cold shoulder, bordering on hostility, toward the incoming Biden administration.

Lindsey W. Ford (@lindseywford), David M. Rubenstein Fellow in the Center for East Asia Policy: The images of an armed mob attacking the U.S. Capitol sent shock waves through allied capitals. In Canberra, Australian officials expressed dismay over the violent attack, but were quick to affirm their faith in the resilience of America’s democratic institutions and the strength of the American people. This support from U.S. allies is not merely an offering of friendship. It reflects the recognition that the resilience of the American system and America’s exercise of democracy at home has implications for the exercise of democracy abroad. As one Australian scholar argued this past week: “American democracy matters too much for us to remain silent.”

Yet this past week’s events also reminded U.S. allies that the power of America’s example can cut both ways. Over the past few months, President Trump’s disinformation campaign spread to Australia’s shores as well. Conservative media outlets echoed President Trump’s talking points. Members of parliament shared social media posts spreading U.S. conspiracy theories. Australian Prime Minister Scott Morrison is now under fire to denounce these statements from members of his party.

Australia and the United States have fought side-by-side to defend democracy for decades. In the past few years, both countries have both been on the forefront of global efforts to fight disinformation and authoritarianism abroad. But this past week should serve as a powerful reminder that these efforts cannot be divorced from the need to protect democratic institutions at home.

Ryan Hass (@ryanl_hass), Senior Fellow in the John L. Thornton China Center and the Center for East Asia Policy: The January 6 insurrection in Washington, D.C., provided powerful ammunition to Chinese propagandists that long have sought to delegitimize democracy as a dangerous Western conceit that lacks solutions for 21st-century societal challenges. Chinese media outlets broadcast images of mayhem inside the American Capitol to a domestic audience to buttress a narrative of America as a country in descent, plagued by deep divisions and a broken political system. Externally, official Chinese media outlets used news of the insurrection to make the case that the greatest threat the United States faces is itself, not China. When the day began January 6, one of the major news stories was the arrest of over 50 pro-democracy leaders in Hong Kong. The insurrection in Washington, D.C., deflected international attention away from this deeply troubling development. The images of insurrectionists occupying America’s legislative seat of power will be part of the Chinese official media’s playback loop for a long time to come. The incoming Biden administration will need to take early and durable steps to chip away at a solidifying perception in Beijing that the United States has lost its capacity for self-correction.

The images of insurrectionists occupying America’s legislative seat of power will be part of the Chinese official media’s playback loop for a long time to come.

Kemal Kirişci (@kemalkirisci), Nonresident Senior Fellow in the Center on the United States and Europe: The images from the storming of the Capitol by a pro-Trump mob attracted reactions from all around the world. The Turkish response raised some eyebrows. The Ministry of Foreign Affairs called “on all parties in the U.S. to maintain restraint and prudence,” as if the winners of an extensively scrutinized election were on par with sore losers, ready to disregard all institutions and norms of a democratic country. It then went on to advise “Turkish citizens in the U.S. to avoid crowded areas and places where protests are taking place,” mirroring standard U.S. State Department travel advisories for U.S. citizens visiting countries facing disturbances (including a recent one for Turkey).

A second response came from the speaker of the Turkish parliament in the form of a tweet expressing the belief that problems can “always be solved within law and democracy,” adding: “As Turkey, we have always been in favor of the law and democracy and we recommend it to everyone.” Since those statements, “law and democracy” in the U.S. has prevailed, setting the scene for a peaceful transfer of power. The disingenuity of the calls coming from a country listed as “not free” by the Freedom House’s annual study of political rights and civil liberties worldwide is self-evident.

More striking is the wording of these statements. They are an almost verbatim translation of the statements issued by the U.S. government as the Turkish parliament was attacked by F-16s during a military coup attempt in July 2016 — suggesting sarcasm rather than genuine concern.

Suzanne Maloney (@maloneysuzanne), Vice President and Director of the Foreign Policy program: For Iran’s leaders, the dramatic developments in Washington offered tantalizing vindication of their long-held narrative about the failure of liberal democracy and the inevitable decline of the West. Supreme Leader Ayatollah Ali Khamenei used the episode to deride American politics as a “fiasco,” adding that “today, the U.S. and ‘American values’ are ridiculed even by their friends.” Hossein Dehqan, a former defense minister and aspiring presidential candidate, sneered on Twitter that the “architect of all riots, coup d’etats, and color revolutions” now had its own Congress “overtaken by protesters.”

Elsewhere, pro-government social media highlighted the apparent hypocrisy of American public diplomacy during times of turbulence within Iran. Some made derisive comparisons between the death of a woman who joined in the attack on the Capitol and Neda Aghasoltan, whose murder became a symbol of Tehran’s vicious repression of its 2009 protests. However, the effectiveness of the government’s propaganda is unclear; in a televised discussion, several activists challenged the seeming approval of the upheaval at the Capitol against the  condemnations of Iranian protesters.

Wednesday’s scenes of frenzied crowds scaling the walls of the U.S. Capitol and overrunning security to wreak havoc in the halls of American power evoked memories of the 1979 seizure of the U.S. Embassy in Tehran. Iran’s descent in mob violence did not end well. The embassy takeover facilitated the full descent of the revolution’s democratic aspirations into an authoritarian theocracy and generated a bitter standoff with Washington that continues today. At a time when tensions between the two countries are at a discomfiting high, the unrest and political polarization in the United States only intensifies the dangers.

Wednesday’s scenes … evoked memories of the 1979 seizure of the U.S. Embassy in Tehran.


Michael O’Hanlon (@MichaelEOHanlon), Senior Fellow in the Center for Security, Strategy, and Technology: I am not tracking any one country or region in particular; my esteemed colleagues do that much better than I can, and I take seriously what they say about the concerns around the world. However, I am more relaxed than some on this issue. While January 6 was a terrible day for our nation, it was also a sobering day that has already produced a partial correction. Moreover, the nation has made huge mistakes before — think Vietnam, for example, or the early conduct of the Iraq war — and recovered internationally. Other countries do not make their decisions about alliances and other such grave matters of war and peace, or economic alignment, based on popularity contests or any expectation that the United States is unblemished. Had Trump won reelection, that would have been serious. But this domestic tragedy, however scary, will soon be placed in a larger context. Based on its geography, its demographics, its Constitution, and its power, the United States will still enjoy much the same position in future world affairs as it has had in the recent past, I predict.

Bruce Riedel, Senior Fellow in the Center for Middle East Policy: Saudi Arabia and the Gulf states closely watched the riot at the U.S. Capitol on January 6. The Saudi media covered the story extensively; Qatar’s Al Jazeera was even more fixated on the dramatic attack and the condemnation of President Trump that has ensued. The Saudis have been very supportive of Trump since 2016, especially after they were implicated in the murder of journalist Jamal Khashoggi. Riyadh is very concerned that the new administration is going to reassess ties with the kingdom for the worse. With President Trump leaving under the shadow of inciting violence against Congress, their alarm is all the more unsettling for the royals closest to Trump and his family. Crown Prince Muhammad bin Salman is especially vulnerable, given his role in reportedly orchestrating Khashoggi’s death and in the Yemen war. He can expect nothing like the complete support he got from the Trump, and he will face skeptical scrutiny from the Biden team and the new Congress. The Saudis are right to be worried by their four years of close association with a man now tainted as both a loser and a violent threat to the rule of law.

Natan Sachs (@natansachs), Fellow and Director of the Center for Middle East Policy: The scenes in Washington on January 6 were deeply troubling for America and, by extension, for its standing in the world and for the very image of democracy worldwide. The most important aspect is clear: an attempt, incited by a sitting president, to disrupt the core constitutional process of transfer of power. There is a major silver lining here: Congress reconvened, and there is value in the symbolism of Vice President Mike Pence himself officially confirming the victory of Joe Biden and Kamala Harris. And yet the images were striking and reached across the globe. America was unable to conduct what should be regular and boring business without mayhem sent from 1600 Pennsylvania Avenue. Moreover, as more than one foreign observer said to me: If the United States cannot even protect the office of the speaker of the house, or the dais in the House of Representatives chambers, from rioters clad in Viking helmets, what has happened to America’s basic capacity to govern its affairs? This comes, of course, after four years of domestic turmoil and amid a remarkable and continuing failure of the U.S. government to deal with the COVID-19 pandemic. Here too, the silver lining is important. Despite all the gloating on official media in Russia, China, and Iran, the United States institutions did prevail. The “city upon the hill” shines less brightly today, but it’s still standing, if in need of a major cleanup.

Constanze Stelzenmüller (@ConStelz), Senior Fellow in the Center on the United States and Europe: In Germany, Chancellor Angela Merkel made unusually frank comments on the day after the storming of the Capitol: She spoke of “disturbing images” that had made her “furious and also sad.” Laying the blame squarely at the feet of the president, she said “I greatly regret that president Trump did not concede his defeat in November — or yesterday,” and she added that this had “created the atmosphere in which such violent events become possible.” The country’s president, Frank Walter Steinmeier, was even more forthright; he called the protesters “an armed mob, incited by a sitting president.” However, he also reminded Germans that QAnon believers had attempted to storm the Reichstag building in Berlin in August. Daniel Brössler, a commentator for the German daily Süddeutsche Zeitung, reminded readers that democracy in Germany has also been under attack from right-wing forces in Germany. He wrote: “Germany‘s democracy owes its existence to the U.S. Now it owes them solidarity, no less than after the attacks of 9/11. Including for its own sake. The notion that German democracy could survive without its American counterpart is absurd.”

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate…

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Low Iron Levels In Blood Could Trigger Long COVID: Study

Authored by Amie Dahnke via The Epoch Times (emphasis ours),

People with inadequate iron levels in their blood due to a COVID-19 infection could be at greater risk of long COVID.

(Shutterstock)

A new study indicates that problems with iron levels in the bloodstream likely trigger chronic inflammation and other conditions associated with the post-COVID phenomenon. The findings, published on March 1 in Nature Immunology, could offer new ways to treat or prevent the condition.

Long COVID Patients Have Low Iron Levels

Researchers at the University of Cambridge pinpointed low iron as a potential link to long-COVID symptoms thanks to a study they initiated shortly after the start of the pandemic. They recruited people who tested positive for the virus to provide blood samples for analysis over a year, which allowed the researchers to look for post-infection changes in the blood. The researchers looked at 214 samples and found that 45 percent of patients reported symptoms of long COVID that lasted between three and 10 months.

In analyzing the blood samples, the research team noticed that people experiencing long COVID had low iron levels, contributing to anemia and low red blood cell production, just two weeks after they were diagnosed with COVID-19. This was true for patients regardless of age, sex, or the initial severity of their infection.

According to one of the study co-authors, the removal of iron from the bloodstream is a natural process and defense mechanism of the body.

But it can jeopardize a person’s recovery.

When the body has an infection, it responds by removing iron from the bloodstream. This protects us from potentially lethal bacteria that capture the iron in the bloodstream and grow rapidly. It’s an evolutionary response that redistributes iron in the body, and the blood plasma becomes an iron desert,” University of Oxford professor Hal Drakesmith said in a press release. “However, if this goes on for a long time, there is less iron for red blood cells, so oxygen is transported less efficiently affecting metabolism and energy production, and for white blood cells, which need iron to work properly. The protective mechanism ends up becoming a problem.”

The research team believes that consistently low iron levels could explain why individuals with long COVID continue to experience fatigue and difficulty exercising. As such, the researchers suggested iron supplementation to help regulate and prevent the often debilitating symptoms associated with long COVID.

It isn’t necessarily the case that individuals don’t have enough iron in their body, it’s just that it’s trapped in the wrong place,” Aimee Hanson, a postdoctoral researcher at the University of Cambridge who worked on the study, said in the press release. “What we need is a way to remobilize the iron and pull it back into the bloodstream, where it becomes more useful to the red blood cells.”

The research team pointed out that iron supplementation isn’t always straightforward. Achieving the right level of iron varies from person to person. Too much iron can cause stomach issues, ranging from constipation, nausea, and abdominal pain to gastritis and gastric lesions.

1 in 5 Still Affected by Long COVID

COVID-19 has affected nearly 40 percent of Americans, with one in five of those still suffering from symptoms of long COVID, according to the U.S. Centers for Disease Control and Prevention (CDC). Long COVID is marked by health issues that continue at least four weeks after an individual was initially diagnosed with COVID-19. Symptoms can last for days, weeks, months, or years and may include fatigue, cough or chest pain, headache, brain fog, depression or anxiety, digestive issues, and joint or muscle pain.

Tyler Durden Sat, 03/09/2024 - 12:50

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Walmart joins Costco in sharing key pricing news

The massive retailers have both shared information that some retailers keep very close to the vest.

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As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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Walmart has really good news for shoppers (and Joe Biden)

The giant retailer joins Costco in making a statement that has political overtones, even if that’s not the intent.

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As we head toward a presidential election, the presumed candidates for both parties will look for issues that rally undecided voters. 

The economy will be a key issue, with Democrats pointing to job creation and lowering prices while Republicans will cite the layoffs at Big Tech companies, high housing prices, and of course, sticky inflation.

The covid pandemic created a perfect storm for inflation and higher prices. It became harder to get many items because people getting sick slowed down, or even stopped, production at some factories.

Related: Popular mall retailer shuts down abruptly after bankruptcy filing

It was also a period where demand increased while shipping, trucking and delivery systems were all strained or thrown out of whack. The combination led to product shortages and higher prices.

You might have gone to the grocery store and not been able to buy your favorite paper towel brand or find toilet paper at all. That happened partly because of the supply chain and partly due to increased demand, but at the end of the day, it led to higher prices, which some consumers blamed on President Joe Biden's administration.

Biden, of course, was blamed for the price increases, but as inflation has dropped and grocery prices have fallen, few companies have been up front about it. That's probably not a political choice in most cases. Instead, some companies have chosen to lower prices more slowly than they raised them.

However, two major retailers, Walmart (WMT) and Costco, have been very honest about inflation. Walmart Chief Executive Doug McMillon's most recent comments validate what Biden's administration has been saying about the state of the economy. And they contrast with the economic picture being painted by Republicans who support their presumptive nominee, Donald Trump.

Walmart has seen inflation drop in many key areas.

Image source: Joe Raedle/Getty Images

Walmart sees lower prices

McMillon does not talk about lower prices to make a political statement. He's communicating with customers and potential customers through the analysts who cover the company's quarterly-earnings calls.

During Walmart's fiscal-fourth-quarter-earnings call, McMillon was clear that prices are going down.

"I'm excited about the omnichannel net promoter score trends the team is driving. Across countries, we continue to see a customer that's resilient but looking for value. As always, we're working hard to deliver that for them, including through our rollbacks on food pricing in Walmart U.S. Those were up significantly in Q4 versus last year, following a big increase in Q3," he said.

He was specific about where the chain has seen prices go down.

"Our general merchandise prices are lower than a year ago and even two years ago in some categories, which means our customers are finding value in areas like apparel and hard lines," he said. "In food, prices are lower than a year ago in places like eggs, apples, and deli snacks, but higher in other places like asparagus and blackberries."

McMillon said that in other areas prices were still up but have been falling.

"Dry grocery and consumables categories like paper goods and cleaning supplies are up mid-single digits versus last year and high teens versus two years ago. Private-brand penetration is up in many of the countries where we operate, including the United States," he said.

Costco sees almost no inflation impact

McMillon avoided the word inflation in his comments. Costco  (COST)  Chief Financial Officer Richard Galanti, who steps down on March 15, has been very transparent on the topic.

The CFO commented on inflation during his company's fiscal-first-quarter-earnings call.

"Most recently, in the last fourth-quarter discussion, we had estimated that year-over-year inflation was in the 1% to 2% range. Our estimate for the quarter just ended, that inflation was in the 0% to 1% range," he said.

Galanti made clear that inflation (and even deflation) varied by category.

"A bigger deflation in some big and bulky items like furniture sets due to lower freight costs year over year, as well as on things like domestics, bulky lower-priced items, again, where the freight cost is significant. Some deflationary items were as much as 20% to 30% and, again, mostly freight-related," he added.

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