Harris’ plan to stop price gouging could create more problems than it solves

Hammster · Aug 17, 2024

https://www.cnn.com/2024/08/16/business/harris-price-gouging-ban-inflation?cid=ios_app

Food prices have surged by more than 20% under the Biden-Harris administration, leaving many voters eager to stretch their dollars further at the grocery store.

On Friday, Vice President Kamala Harris said she has a solution: a federal ban on price gouging across the food industry.

“My plan will include new penalties for opportunistic companies that exploit crises and break the rules,” Harris said at a campaign event.

There’s just one issue: Harris’ proposal could create more problems than the one it’s trying to solve, some economists say.

HARK! · Aug 17, 2024

Let me get this straight. This Administration is crippling our nation with rising food prices, through inflation, through their reckless spending habits; and Harris attempts to sweep this glaring axiom under the rug, and blame it on the "evil" Federally subsidized food industry?

Hammster · Aug 17, 2024

HARK! said:
Let me get this straight. This Administration is crippling our nation with rising food prices, through inflation, through their reckless spending habits; and Harris attempts to sweep this glaring axiom under the rug, and blame it on the "evil" Federally subsidized food industry?

Seems that way.

iluvatar5150 · Aug 17, 2024

HARK! said:
Let me get this straight. This Administration is crippling our nation with rising food prices, through inflation, through their reckless spending habits; and Harris attempts to sweep this glaring axiom under the rug, and blame it on the "evil" Federally subsidized food industry?

If you want to cut farm subsidies, I'll gladly lock arms with you, but good luck getting that past the farmers and their politicians from the midwest.

I'm skeptical of this anti-price-gouging plan, but I suppose the devil is in the details, which haven't been released yet.

HARK! · Aug 17, 2024

iluvatar5150 said:
If you want to cut farm subsidies, I'll gladly lock arms with you, but good luck getting that past the farmers and their politicians from the midwest.

It's not that I'm on a mission to tear the Communism that has been established; but more that I'm opposed to it's continued escalation.

However, my point wasn't about selling off the community tractor. It was about the misdirection and deception that businesses attempting to keep their doors open is the reason that the dollar is being devalued toward hyperinflation by this Administration.

I'm not drinking the hippie punch.

BCP1928 · Aug 17, 2024

HARK! said:
Let me get this straight. This Administration is crippling our nation with rising food prices, through inflation, through their reckless spending habits; and Harris attempts to sweep this glaring axiom under the rug, and blame it on the "evil" Federally subsidized food industry?

Food prices, controlled by a handful of megacorps, are rising faster than inflation. Their profits are also rising faster than inflation. Why do you want to sweep that "glaring axiom" under the rug?

HARK! · Aug 17, 2024

BCP1928 said:
Food prices, controlled by a handful of megacorps, are rising faster than inflation. Their profits are also rising faster than inflation. Why do you want to sweep that "glaring axiom" under the rug?

Some businesses are suffering as people forego buying luxury items, like reliable vehicles, so that they can buy more ramen noodles. As people struggle to buy luxuries; the inflation in some sectors is offset by the deflation in others. Those numbers skew the reality of the crisis. Businesses are showing record profits in many areas. That's because when there are more dollars in circulation, because of inflation, because of reckless spending; products cost more; so businesses make record profits on paper.,

That glaring axiom isn't lost on those who have a rudimentary understanding of economics.

BCP1928 · Aug 17, 2024

HARK! said:
Yep, businesses are showing record profits across the board. That's because when there are more dollars in circulation, because of inflation, because of reckless spending; products cost more; so businesses make record profits on paper.,

That glaring axiom isn't lost on those who have a rudimentary understanding of economics.

Why are grocery prices, and the profits of the companies selling them, goin up faster than that?.

durangodawood · Aug 17, 2024

Theres already a page one thread on this.

Hammster · Aug 17, 2024

durangodawood said:
Theres already a page one thread on this.

Where?

Fantine · Aug 17, 2024

I read the whole op-ed article and underneath i saw a video by Robert Reich on the same subject.
He talked about monopolies. 4 companies control 70% of the food market, making it easier for them to control prices.
I have seen graphs and stats elsewhere showing the record profits these companies realized when supply chain issues eased and prices were kept high.
We need competition, and we need to exert pressure on these monopolies by heavily publicizing their anti-consumer policies.
BTW, Reich's credit are way more extensive than an economist from "Weber University."

HARK! · Aug 17, 2024

BCP1928 said:
Why are grocery prices, and the profits of the companies selling them, goin up faster than that?.

I edited my post to give you a more clear explanation.

durangodawood · Aug 17, 2024

Hammster said:
Where?

Kamala to fix food prices. Yay!

HARK! · Aug 17, 2024

durangodawood said:
Theres already a page one thread on this.

Good! We need to get the word out, to raise pubic awareness, in these perilous times.

BCP1928 · Aug 17, 2024

HARK! said:
I edited my post to give you a more clear explanation.

It was clear enough already: The profits of corporate capitalism are more important than free markets.

Hammster · Aug 17, 2024

durangodawood said:
Kamala to fix food prices. Yay!

Well, that was before we knew exactly what was to be said. This thread is about CNN’s reporting what she exactly said. Not the same.

HARK! · Aug 17, 2024

BCP1928 said:
The profits of corporate capitalism are more important than free markets.

The collective Government owns the controlling shares of most of the major corporations.

BCP1928 · Aug 17, 2024

HARK! said:
The collective Government owns the controlling shares of most of the major corporations.

Then we are already a socialist country by definition, so stop complaining.

iluvatar5150 · Aug 17, 2024

durangodawood said:
Oh wait. that's Hammster. Your round orange medallion avatars look the same sometimes.

oh good, I’m not the only one.

HARK! · Aug 17, 2024

BCP1928 said:
Then we are already a socialist country by definition, so stop complaining.

Actually wouldn't that be Fascism?

I'm not comfortable with that no matter what kind of label that you would like to put on it. Maybe you missed the part where I said that I wasn't out to sell off the community tractor; but that my primary concern was the misdirection and deception.

The assets that are hidden on the CAFR, is just another example of this deception, and how our government cooks the books.

If Authoritarian Socialists aspire to live in poverty; why would they need to drag everyone else but the the Elitist Oligarchs into it with them?

Harris’ plan to stop price gouging could create more problems than it solves

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