Kamala Harris Blames Food Companies, Not Out-of-Control Government Spending, For High Inflation
After the unoriginal Vice President Kamala Harris stole former President Trump's proposed 'no tax on tips' policy, she's at it again with yet another recycled idea. This time, she's echoing President Biden's actions and rhetoric to crack down on sky-high food prices by proposing the first-ever federal ban on "corporate price-gouging in the food and grocery industries" — a move that reeks of socialism. Instead of curbing out-of-control government spending, which debt rises $1 trillion every 100 days, and understanding that monetary inflation driven by the Federal Reserve's money creation is the root cause of inflation, Harris deflects the actual problem: The Fed. She instead goes after corporations for "illegal price gouging". The Harris campaign said the vice president will unveil the new federal proposed ban on Friday at a campaign rally in the battleground state of North Carolina as part of a broader economic policy platform. The proposal will ensure food companies can't exploit consumers to increase profits, according to CBS News, citing Harris-Walz campaign officials.
Harris' policy speech will also call on the Federal Trade Commission and state attorneys to examine corporations violating price-fixing rules. Her remarks are expected to echo Biden's actions and rhetoric, especially with his war against meat processing companies that he alleges are responsible for higher burger prices at the supermarket. VP Harris' campaign argues that lowering Americans' costs is a function of socialist-style price controls. Yet this is the quickest way to understand that Harris' economic team has no actual understanding of inflation.
Here comes the real Kamalanomics: price controls
To follow: mile-long lines for food, meat coupons, shortages, food black market. https://t.co/EGx0dQMhxY
— zerohedge (@zerohedge) August 15, 2024
https://twitter.com/zerohedge/status/1823911674786566640
Instead of curbing out-of-control government spending, which debt rises $1 trillion every 100 days, and understanding that monetary inflation driven by the Federal Reserve's money creation is the root cause of inflation, Harris deflects the actual problem. "Price inflation is a symptom of monetary inflation, which has everything to do with money creation by the Federal Reserve," economist Mike Maharrey explained. Mike warned that Harris's proposed policies, including price controls, would likely lead to shortages and exacerbate the problem rather than solve it.
Here's what X users are saying:
Literal communist economics. Holy crap, we have an example 90 miles from Florida of what that leads to. — Absent Intelligence (@AbsIntel) August 15, 2024
Ask the Soviets how price controls work out. — Rudolph Troha (@RudolphTroha) August 15, 2024
Price controls lead to empty shelves. — EleventySigma CygnusAtratus (@eleventysigma) August 15, 2024
https://www.zerohedge.com/economics/vp-harris-first-economic-plan-proposes-federal-price-controls-combat-inflation