As Twitchy has been reporting, Kamala Harris has begun leaking some of the economic policies she'll implement in her first 100 days in office. Essentially, it's communism. Harris promises to ban "price gouging" by grocery stores and will grant authority to the FTC and state attorneys general to "investigate and impose harsh penalties on big corporations that choose to break these rules to make a quick buck at Americans’ expense." What rules? We suppose the rules she is going to make up to tell grocery stores and other businesses what they can charge.
Someone at CNN did some actual journalism Thursday and wrote that "corporate greed" isn't what's driving inflation.
Think corporate greed is the leading cause of inflation? Think again https://t.co/27CEOJ68TQ
— Jake Schneider (@jacobkschneider) August 15, 2024
Are you listening, President Biden? Matt Egan writes:
Some progressives have frequently blamed corporate greed for fueling the high cost of living that Americans are fed up with.
Yet new research from the Federal Reserve Bank of San Francisco casts doubt on the greedflation theory.
Economists at the SF Fed found that corporate price gouging was not a primary catalyst for the inflation surge of 2021 to 2022.
The Fed researchers did find that some companies exercised pricing power by raising prices above their production costs – a gap known as markups.
They raised prices to cover their production costs and many even make a profit? That's capitalism for you.
Who thinks that?
— Wi11iam Be1cher 🐳 (@EdB_Ohio) August 15, 2024
Morons. Like President Joe Biden, who said in February there are “still too many corporations in America ripping people off. Price gouging, junk fees, greedflation, shrinkflation.”
Recommended
“America – we’re tired of being played for suckers!"
Biden even brought up the "shrinkflation" associated with the Snickers bar in his State of the Union address, leading Mars/Snickers to issue a statement pushing back on the accusation.
I think printing money has led to inflation
— Patriot4life (@AmericanG76) August 15, 2024
Bingo.
Price controls during periods of high inflation is dangerous and comes with other, unintended, consequences. This shows how inept and uneducated Harris is.
— MinnnesotaFan (@MinnesotaFan92) August 15, 2024
She's so dumb it's dangerous.
***
Join the conversation as a VIP Member