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Kameltoe nails down a few planks in her platform.....
16 Aug 2024 7:45 am
Preventing grocery stores from raising prices along with inflation could result in them losing money on every sale, encouraging them to leave shelves bare, as happened in Venezuela due to price controls on food. Food might end up on the black market, where it would be even more expensive. For such reasons, 73.9% of economists say that price controls are not a “useful policy option in the control of inflation.”
As AG notes, “instead of dealing with the actual sources of inflation, the Harris plan is going to be to continue to pretend price increases are a result of price gouging in an industry with razor thin margins.” Given the razor think profit margins, banning “price gouging” won’t do much to reduce prices (and to the extent it does cut prices at all, it will make grocery stores lose money, which will lead to them stocking less food because they lose money on it, which will lead to empty shelves and maybe long lines for what little food they do stock).“Do you like store shelves that look like Venezuela’s [empty shelves]? Because this is how you get store shelves that look like Venezuela’s,” notes journalist Franklin Harris.
Progressives on TV who are ignorant of economics praised Harris’s “bold” proposal. But it’s as foolish as it is bold. “Putting grocery stores out of business and creating food deserts is certainly a bold campaign promise,” points out Chris McGowne.
Harris’s father was similarly given to bold proposals that backfired. The Economist describes Kamala Harris’s father, Donald Harris as a “combative Marxist economist.” But when Jamaica’s left-wing government took his advice, it sent Jamaica’s economy into a tail-spin. Jamaica’s per capita income fell sharply in the late 1970s, and its GDP fell from $3.25 billion in 1977 to $2.43 billion in 1979. Jamaican per capita income was lower in 1980 than in 1976, even as incomes rose in other Caribbean countries and Puerto Rico.
The inflation that has increased grocery prices is the fault of the big-spending Biden-Harris administration, not greedy grocery stores. President Biden’s policies caused inflation, according to even Democratic economists like Harvard’s Larry Summers — who was Treasury Secretary under President Clinton — and Obama economic advisor Steven Rattner. As Rattner noted in the New York Times, Biden has spent “an unprecedented amount” of taxpayer money, which resulted in “too much money chasing too few goods.”
https://libertyunyielding.com/2024/08/1 ... e_vignette
As AG notes, “instead of dealing with the actual sources of inflation, the Harris plan is going to be to continue to pretend price increases are a result of price gouging in an industry with razor thin margins.” Given the razor think profit margins, banning “price gouging” won’t do much to reduce prices (and to the extent it does cut prices at all, it will make grocery stores lose money, which will lead to them stocking less food because they lose money on it, which will lead to empty shelves and maybe long lines for what little food they do stock).“Do you like store shelves that look like Venezuela’s [empty shelves]? Because this is how you get store shelves that look like Venezuela’s,” notes journalist Franklin Harris.
Progressives on TV who are ignorant of economics praised Harris’s “bold” proposal. But it’s as foolish as it is bold. “Putting grocery stores out of business and creating food deserts is certainly a bold campaign promise,” points out Chris McGowne.
Harris’s father was similarly given to bold proposals that backfired. The Economist describes Kamala Harris’s father, Donald Harris as a “combative Marxist economist.” But when Jamaica’s left-wing government took his advice, it sent Jamaica’s economy into a tail-spin. Jamaica’s per capita income fell sharply in the late 1970s, and its GDP fell from $3.25 billion in 1977 to $2.43 billion in 1979. Jamaican per capita income was lower in 1980 than in 1976, even as incomes rose in other Caribbean countries and Puerto Rico.
The inflation that has increased grocery prices is the fault of the big-spending Biden-Harris administration, not greedy grocery stores. President Biden’s policies caused inflation, according to even Democratic economists like Harvard’s Larry Summers — who was Treasury Secretary under President Clinton — and Obama economic advisor Steven Rattner. As Rattner noted in the New York Times, Biden has spent “an unprecedented amount” of taxpayer money, which resulted in “too much money chasing too few goods.”
https://libertyunyielding.com/2024/08/1 ... e_vignette