Speaker 1: Attention. You're listening to the top Huff radio show, America's
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Speaker 1: Tod Huff.
Speaker 2: Well, my friends, Kamala Harris is gradually and very slowly,
Speaker 2: maybe unintentionally, telling us who she is, and we should
Speaker 2: listen to her. My friends, got some things that Kamala
Speaker 2: that Kamala Harris has told us that she's going to do.
Speaker 2: In fact, she's announced one of her first I guess major,
Speaker 2: and that's to effectively become a socialist at best, a
Speaker 2: communist at worst. I'm not making this up. We'll talk
Speaker 2: about it. My friends here in do course welcome today's program.
Speaker 2: I am your host, the benevolent dictator here behind the microphone,
Speaker 2: Todd Huff. You can join the conversation. You can share
Speaker 2: your thoughts and your questions and give me feedback and
Speaker 2: share articles you want me to talk about. Can't always
Speaker 2: do it. I have to run it through my process.
Speaker 2: But I certainly look at these things. Todd at Toddhufshow
Speaker 2: dot com three one seven two one zero twenty eight
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Speaker 2: So Echo is normally is laying where I normally drop
Speaker 2: those drop our my notes on the live mentions I do.
Speaker 2: She's laying here with a piece of paper on her
Speaker 2: Now Echo, Who's what? What is Echo twelve? We think
Speaker 2: she's not she's looking at me. Okay, anyway, So I
Speaker 2: want to start here today. I want to start here
Speaker 2: today by talking about Kamala and what she says that
Speaker 2: she wants to do. Well, let me, I guess we'll
Speaker 2: take a hand a step back because I want to
Speaker 2: tell you how we got here and give some context.
Speaker 2: So we need to start with the issue of inflation, right.
Speaker 2: Inflation Inflation is now for the first time since March
Speaker 2: of twoenty and twenty one, That is three and one
Speaker 2: half years ago. That is almost for the entire duration
Speaker 2: of this absolute debacle that we call the Biden Harris administration.
Speaker 2: For the first time since basically Biden took office, for
Speaker 2: the first time since Biden's policies went into effect, we
Speaker 2: see inflation under three percent. Now, this is not some
Speaker 2: great accomplishment. As I outlined and detailed yesterday. In Trump's
Speaker 2: entire four year term as president of the United States,
Speaker 2: inflation hit two point nine percent twice. It hit it twice. Now,
Speaker 2: what happens now many of you know this. Now again,
Speaker 2: I'm gonna share this quickly because we have people, We
Speaker 2: have people who are in all different walks of life
Speaker 2: and in all different levels of experience with politics. So
Speaker 2: let me just explain it to those who might be
Speaker 2: newer to this and not really understand what's going on. So,
Speaker 2: every month there is a report on what we would
Speaker 2: loosely just refer to as the inflation rate. So every month,
Speaker 2: so this is what this is the middle of August
Speaker 2: by September, I think it's about about two weeks in.
Speaker 2: I think it's on or around September tenth, September eleventh,
Speaker 2: you're gonna hear. You're gonna hear an inflation report for
Speaker 2: the month of August. Now it's not just for the
Speaker 2: month of August, it's for the previous twelve months. So
Speaker 2: it's for September of twenty twenty three through August of
Speaker 2: twenty twenty four. And what they say is they'll say
Speaker 2: in that twelve month period, the inflation rate again consumer
Speaker 2: price index, but inflation rate is x percent. Is x percent.
Speaker 2: So that's what's happened. So in January of twenty one, Trump,
Speaker 2: of course was president for the first twenty days, the
Speaker 2: last eleven days. Biden was president in twenty twenty one.
Speaker 2: And of course, I look, let's make no mistake that
Speaker 2: this is that there's a lot of factors here. I
Speaker 2: can't lay the blame at the feed or the credit
Speaker 2: at the feet of the president of the United States.
Speaker 2: It's not that's not how that works. Now, it's certainly
Speaker 2: they certainly have something to do with the inflation rate,
Speaker 2: but they're not solely to blame. In fact, Congress is
Speaker 2: the culprit. And of course, boy, I don't want to
Speaker 2: get into the whole thing with the money supply, that's
Speaker 2: a whole nother discussion that's you know, just the it's
Speaker 2: complicated right at the FED and all this this sort
Speaker 2: of stuff. But essentially, essentially government policies are one hundred percent.
Speaker 2: I cannot overstate this. Look up Milton Friedman. In fact,
Speaker 2: I thought about pulling one of his soundbites, Milton Friedman.
Speaker 2: The great economists who he passed away, I don't know,
Speaker 2: back in the early two thousands, I believe, early to
Speaker 2: I don't know, in the past, say fifteen years roughly
Speaker 2: give or take. Absolutely brilliant economist Milton Friedman, free to
Speaker 2: choose as a book that he wrote. He was He
Speaker 2: actually was one of these individuals who tried to take
Speaker 2: his message, try to take the message of economics to
Speaker 2: the masses, and he was quite successful at it. In fact,
Speaker 2: he made many appearances on Donahue if you remember, for
Speaker 2: those of you who are older, Phil Donahue had a
Speaker 2: talk show and Milton Friedman was the guest on there.
Speaker 2: On several occasions, he would make speeches at campuses or
Speaker 2: other venues. He was one of these folks that had
Speaker 2: a knack for getting the very we must say, the
Speaker 2: very very technical and maybe the very boring economics education
Speaker 2: out in front of the masses, and he was a
Speaker 2: great communicator. And so Milton Friedman correctly, i should say,
Speaker 2: correctly defined what inflation was and who was responsible inflation.
Speaker 2: As you can go back and find these sound bites
Speaker 2: from Milton Friedman, and he's right, he is one hundred
Speaker 2: percent right about this. Inflation is not the result of
Speaker 2: It's not the fault, I should say, of trade unions.
Speaker 2: Inflation is not the result of corporations. Inflation is not
Speaker 2: the result of someone in some foreign land creating problem
Speaker 2: for us. No, no, no, my friends, Inflation is solely
Speaker 2: one hundred percent the responsibility and the fault of our
Speaker 2: federal government. You cannot even blame inflation on state governments.
Speaker 2: And the reason for that is because the federal government
Speaker 2: is the only government who has a magic button. Remember
Speaker 2: the old Staples easy button, that was easy. That's how
Speaker 2: government views the creation of money. So what happens is
Speaker 2: government wants to spend money. They want to spend money
Speaker 2: like it's coming out of their ears. They want to
Speaker 2: spend it, but they don't want to directly tax the people.
Speaker 2: And so inflation is this it's a direct tax, but
Speaker 2: it's an indirect tax. It's not as though they passed
Speaker 2: a piece of legislation and they say we're going to
Speaker 2: raise your taxes from x to X to y. No, no, no,
Speaker 2: it is something that is being stolen from you without
Speaker 2: a lot of people even knowing it. And so what
Speaker 2: it basically means is that when you look at all
Speaker 2: of the productivity in an economy, if you look at
Speaker 2: the gross domestic product, for example, and let's say that
Speaker 2: there's just for simple just for simple math, let's just
Speaker 2: say that there's ten trillion dollars of economic output, Well,
Speaker 2: the money supply would be increased in a greater rate
Speaker 2: than the amount of productivity of the of the economy.
Speaker 2: This is very simplistic how I'm explaining this, but you
Speaker 2: get the idea. So there's more money that's being created
Speaker 2: to represent the value of what has actually been created
Speaker 2: in the real world through work and through trade, and
Speaker 2: so there's more money that's being produced and pushed into
Speaker 2: the economy through the government, right through the government, and
Speaker 2: that makes the money that you have worth less, not
Speaker 2: completely worthless, but heading in that direction. So what happens
Speaker 2: is what happens is the it's not as though the
Speaker 2: prices are increasing for goods just because of factors like
Speaker 2: I mean, I don't know, just simple supply and demand
Speaker 2: or anything along along those lines. It is they are
Speaker 2: increasing uniformly across the board, across all specters of the economy. Two,
Speaker 2: they are increasing because the dollar has less purchasing power,
Speaker 2: and that is inflated through the government. The president is
Speaker 2: a part of that. But the president isn't the only one.
Speaker 2: The thing with the president, the president has the greatest
Speaker 2: ability to steer an agenda. You know, it's one it's
Speaker 2: one person who everybody generally knows. In a mayor Rica,
Speaker 2: who knows They don't know what year we were founded,
Speaker 2: who we got our independence from. Many people can't name
Speaker 2: the president or the vice president, but anyone with the
Speaker 2: brain paying attention knows the president. The president has a
Speaker 2: direct line of communication to the American people. We call
Speaker 2: that the bully pulpit. And so there are things that
Speaker 2: that president can do to really drive home fiscal policies,
Speaker 2: economic policies. Of course, he still needs the cooperation I
Speaker 2: suppose that's the word you would say of Congress. But
Speaker 2: he has quite an impact. She would have quite an
Speaker 2: impact on inflation. But it's not one hundred percent his fault.
Speaker 2: But all that being said, give you some groundwork, there's
Speaker 2: some background. All that being said, from the time Trump
Speaker 2: was president, in the entire four year term, every month
Speaker 2: when those reports came out, two point nine percent was
Speaker 2: the ceiling. Was the highest it ever got. When Trump
Speaker 2: was president. It never hit three percent. It only hit
Speaker 2: two point nine percent I believe twice, I think two
Speaker 2: point eight percent once. Beyond that, it was lower. In fact,
Speaker 2: in many cases much lower, in the in the one
Speaker 2: point something range on multiple occasions. So all that being said,
Speaker 2: the administration is excitedly applauding themselves. We've got inflation down
Speaker 2: to three percent.
Speaker 1: Now.
Speaker 2: People don't understand inflation. They don't understand what I just said.
Speaker 2: I mean, there's a lot of people, many of you,
Speaker 2: of course do some of you are learning it. That's fine,
Speaker 2: I had. I mean, we all go through this process
Speaker 2: for those of us who want to follow this and
Speaker 2: understand it, and so, but there's a lot of people
Speaker 2: who don't know, they don't care, They misunderstand. Inflation is
Speaker 2: not simply price is going up. Now, inflation always leads
Speaker 2: to prices going up, but not every price increase is
Speaker 2: the result of inflation we've gotten in this country. I
Speaker 2: think economists have gotten lazy, or perhaps they've gotten tired
Speaker 2: of trying to explain this to people. But there is
Speaker 2: a there, There can be a price increase that's not
Speaker 2: tied to inflation. For example, let's just say, let's say
Speaker 2: God forbid, you can see Israel is preparing for war
Speaker 2: with Iran. That's something that's in the stack of stuff
Speaker 2: at toddefshow dot com. But they are preparing for war
Speaker 2: with Iran. Let's say that that happens. I mean, that's
Speaker 2: the path that we are on. I don't know what's
Speaker 2: going to happen here, but let's just say that that
Speaker 2: is in fact what happens. Well, one of the things
Speaker 2: the Iranians, of course, that they're over there in the
Speaker 2: middle of the part of the world where we get
Speaker 2: a lot of our oil from. Well, what if they,
Speaker 2: through the war efforts here, create some of their either
Speaker 2: direct war efforts or they do some sort of an
Speaker 2: oil embargo, they make the transportation of oil out of
Speaker 2: the Middle East harder or even impossible to get to
Speaker 2: other parts of the world. What's going to happen to
Speaker 2: the price of oil based products into including gasoline where
Speaker 2: they're going to increase because it's now a supply and
Speaker 2: demand problem they don't have. We wouldn't have the same supply. This,
Speaker 2: by the way, is why Trump talks about drill baby
Speaker 2: drill here in the United States. This is why Trump
Speaker 2: doesn't want to see This is why conservatives don't want
Speaker 2: to see these leases on public lands taken away for
Speaker 2: oil and gas exploration, because the more that we can
Speaker 2: produce domestically, the less likely we are to really experience
Speaker 2: a major problem from this sort of thing. And in
Speaker 2: a volatile region. This is a violatle region of the world,
Speaker 2: the Middle East. It has been for a long time,
Speaker 2: it will be probably until the end of time. So
Speaker 2: you're looking at this and you realize that is not inflation.
Speaker 2: There are other facts actors that can cause prices to
Speaker 2: go up, and this is a supply and demand issue
Speaker 2: in particular, supply issue in this example. And so every
Speaker 2: time prices go up, it's not because of inflation, although
Speaker 2: that's what we commonly refer to it as in fact,
Speaker 2: we'll see inflation affecting different sectors of the economy at
Speaker 2: different rates. That's not what true inflation is. True inflation
Speaker 2: is uniform. So if prices have increased in food by
Speaker 2: twenty percent in three and a half years, you have
Speaker 2: to look at how much of that is directly tied
Speaker 2: to what we've done by oversaturating the economy with additional money,
Speaker 2: thereby driving down the value of the dollars, therefore requiring
Speaker 2: you and me to give more of our dollars to
Speaker 2: a vendor, to a grocery store to purchase the food.
Speaker 2: It's not it. Maybe you might see a higher price
Speaker 2: increase in say gas than food or vice versa. But
Speaker 2: there is cooked into those numbers. There's a certain amount
Speaker 2: that says this much of that is because of the
Speaker 2: fact that the government is creating too much money. And
Speaker 2: so the numbers got up around nine percent. I mean,
Speaker 2: we got close to double digits under this administration, under
Speaker 2: the Biden Harris regime last summer, and so now it's
Speaker 2: down to three percent, two point nine percent, it's under
Speaker 2: three percent. They're celebrating this, But let me say something else.
Speaker 2: Prices are not coming down as it pertains to inflation.
Speaker 2: Prices may come down because of other factors, but my friends,
Speaker 2: all we're celebrating is that we're inflating. Inflation is increasing
Speaker 2: at a lower rate, it's still increasing. It's still two
Speaker 2: point nine percent. It's still a factor. The prices that
Speaker 2: had been driven up because of inflation are not suddenly
Speaker 2: coming down. They might be coming down because of other
Speaker 2: things that could affect supply chains, supply and demand, all
Speaker 2: that sort of stuff, but it is not coming down
Speaker 2: because because inflation is being reversed, it's just slowing the pace.
Speaker 2: It's just slowing the pace. So inflation is one hundred
Speaker 2: percent the fault of the federal government one hunt not
Speaker 2: ninety nine percent. One hundred percent. It's not the fault
Speaker 2: of big corporations. And this is important because Kamala's solution
Speaker 2: to this is to not do anything with the government, well,
Speaker 2: to use the government as a blunt force object to
Speaker 2: force corporations, to force businesses into what she's basically she
Speaker 2: wanted to control their prices. She's saying that they are
Speaker 2: the ones that are creating this problem because they are
Speaker 2: charging too much for the American you know, to the
Speaker 2: American people for these products. And so she's gonna just arbitrarily,
Speaker 2: I guess, say, this is what you can sell a
Speaker 2: gallon of milk for. This is what you can sell
Speaker 2: a loaf of bread for whatever, a pound of hamburger,
Speaker 2: and therefore that's gonna, lickety split just solve our problem.
Speaker 2: Of course, that's going to make it worse. It's going
Speaker 2: to make it infinitely worse if this stuff happens. This
Speaker 2: is not a good thing. And for the low information voter,
Speaker 2: they're out there cheering this. They like this. The media
Speaker 2: loves this. It pushes us further left. It gives the
Speaker 2: government more power and control. It targets the business community
Speaker 2: and not the real culprit here, which I've clearly explained
Speaker 2: is one hundred percent. I'm not even saying listen, in
Speaker 2: most instances, both parties are to blame. And I'm not
Speaker 2: giving the big corporations a free pass because they have
Speaker 2: created other problems. They have given in to the government.
Speaker 2: They've played along with the DEI initiatives and all this
Speaker 2: sort of stuff. They are woke, they are part of
Speaker 2: the problem. They have been involved in censorship. They have
Speaker 2: a lot of responsibility for a lot of what's going
Speaker 2: on in this in this country today, in the sense
Speaker 2: of it being not so great or absolutely terrible in
Speaker 2: some instances. But they are not to blame for inflation.
Speaker 2: They are not. That is one hundred percent, one hundred
Speaker 2: percent the fault of our federal government. So it's with
Speaker 2: that said that I want to get into Kamala's announcement,
Speaker 2: her policy on inflation, what she says she's going to
Speaker 2: do to address this, and it should terrify anybody who
Speaker 2: understands economics. It should terrify anybody who understands what it
Speaker 2: means to be free, to live in a free market society.
Speaker 2: It should terrify anyone who's ever experienced what a socialistic
Speaker 2: economy will do, or god forbid, even worse a totalitarian
Speaker 2: communistic regime can do to a free people and to
Speaker 2: a prosperous society. So that's where we're headed and the
Speaker 2: remainder of this program, at least in this particular hour,
Speaker 2: my friends. So as I get to the end of here,
Speaker 2: this first segment, I got a minute or so left,
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Speaker 2: Naturals nickknack dot com promo code todd. So when we
Speaker 2: get back here from this short timeout, we are going
Speaker 2: to continue talking about inflation, but in particular inflation the
Speaker 2: government's response under a Kamala Harris regime and what she
Speaker 2: says that she wants to do, and how that is
Speaker 2: devastating for a free people, for free markets, and for
Speaker 2: a prosperous society. We'll get to that on the other
Speaker 2: side of the break, my friends. In the meantime, sit tight.
Speaker 2: You are listening to conservative not better talk. I am
Speaker 2: your host, Todd Huff back in just a minute. Welcome back,
Speaker 2: my friends. Just talking about one of Kamala's apparently foundational issues,
Speaker 2: one of the first things we've heard about her priorities,
Speaker 2: as should she be elected president of the United States.
Speaker 2: I want to start here. This is at the Washington
Speaker 2: Examiner dot com. By the way, this is always available
Speaker 2: on our website. If you want to see anything that
Speaker 2: we've talked about here today totofshow dot com, just go
Speaker 2: to the stack of stuff. That, of course, for those
Speaker 2: of you who used to listen to the late great
Speaker 2: Rush Limbaugh, that, of course is a term he used
Speaker 2: to use for his well the things he was prepared
Speaker 2: to talk about on his show. We've just made hours
Speaker 2: digital and you can check it out by visiting Todhofshow
Speaker 2: dot com and going to the Stack of Stuff. But
Speaker 2: let us start by reading what Harris is Kamala Harris
Speaker 2: is doing here as she is teasing her first, as
Speaker 2: The Washington Examiner puts it, first, hard policy position with
Speaker 2: price gouging ban, written by Emily Hallis. Here's what the
Speaker 2: article says. Vice President Kamala Harris will detail her plan
Speaker 2: to lower food prices through a price gouging ban as
Speaker 2: she unveils her economic blueprint this week. The same day
Speaker 2: former President Donald Trump called her an incompetent socialist, Harris
Speaker 2: teased the price control proposal in a press release Wednesday evening.
Speaker 2: The Vice President is set to announce a broader economic
Speaker 2: framework regarding her plans to tackle corporate greed, lower the
Speaker 2: cost of living, and strengthen the economy during a Friday
Speaker 2: speech in Raleigh, North Carolina. Harris's high profile economic address
Speaker 2: in a state that she hopes to flip loco comes.
Speaker 2: I should say, as she has faced criticism for running
Speaker 2: a campaign light on policy details, you don't say, I mean,
Speaker 2: Kamala has not told us anything. In fact, that's one
Speaker 2: of the things I want to get to. It won't
Speaker 2: be this hour, but I want to get to the
Speaker 2: policies that most people have no idea about, the ideas
Speaker 2: that Kamala has embraced, has supported. She is dangerous. I
Speaker 2: have said, I stand by this. This is the most
Speaker 2: woke ticket in American presidential election history. This is a
Speaker 2: woke leftist off the charts ticket with Kamala Harris and
Speaker 2: her comrade at Tim Walls on the ticket. Here we go,
Speaker 2: continuing in this article here when I stop, here we go. Okay,
Speaker 2: if she hopes to prevail, miss Harris needs to present
Speaker 2: her ideas. The Washington Post editorial board wrote Sunday, I
Speaker 2: don't even know if that's the case. What ideas did
Speaker 2: Biden present in twenty and twenty What ideas his ideas were?
Speaker 2: I'm not Trump? Were they not? His ideas were, don't
Speaker 2: have me go out there and campaign, keep me in
Speaker 2: my basement. When I do go campaign, have about fifty
Speaker 2: people in the audience standing in circles that of course
Speaker 2: are six feet apart so that they don't transmit COVID,
Speaker 2: which of course we have learned was a completely arbitrary distance.
Speaker 2: Even Fauci himself said it was basically just made up
Speaker 2: on the fly. We saw people sitting in cars because
Speaker 2: you couldn't go to rallies as a normal person back
Speaker 2: in twenty twenty. You had to stay in your car
Speaker 2: and you would honk if you thought the president or
Speaker 2: the candidates at the time Joseph Robinette Bribery. If you
Speaker 2: thought he was saying something that you liked, you could
Speaker 2: honk your horn. There was some horn honking, as I've said,
Speaker 2: and I stand by this. I stand by this one.
Speaker 2: The only reason any horns were honking in those days
Speaker 2: were because people dozed off and their heads hit the horn.
Speaker 2: I have no doubt in my mind that that's what's
Speaker 2: happening or that's what happened back then. But what do
Speaker 2: you mean that she's gonna have to say her ideas.
Speaker 2: I wish she was gonna have to tell us about
Speaker 2: her ideas and policies. And there are people that are
Speaker 2: around her telling her she's going to have to do that.
Speaker 2: But the sad truth is she's won a lot of
Speaker 2: votes already because she's not Trump. She's won a lot
Speaker 2: of votes already because she's got a big Democrat next
Speaker 2: to her name, capital D Democrat next to her name.
Speaker 2: She's winning some votes because she's a woman. Enough said,
Speaker 2: she's winning some votes because she's black. That's all that
Speaker 2: some folks seem to care about. She's winning some votes
Speaker 2: simply because she is Indian. People look at this as
Speaker 2: a historic opportunity, this is the time for America to
Speaker 2: have its first female president or whatever whatever. People believe.
Speaker 2: These things are not rooted in substance. The reason that
Speaker 2: this the reason I get so fired up about this again,
Speaker 2: I've been on I'm on record as saying it is
Speaker 2: good that America has gotten to a point to where
Speaker 2: individual voters are prepared to vote for people who are
Speaker 2: ethnically and racially different than people they would have voted.
Speaker 2: They wouldn't have voted for folks like this in America's history.
Speaker 2: That is a good thing. That we have gotten to
Speaker 2: the point where people are willing to vote for people
Speaker 2: that they would not have voted for it for because
Speaker 2: of superficial identity politics in the past. That is a
Speaker 2: good thing. Those are positive steps forward. But it is
Speaker 2: also bad. It is maybe not as bad, but I mean,
Speaker 2: in one sense, I would say it is equally. It's
Speaker 2: the same thing to say I'm not going to vote
Speaker 2: for someone because they are a certain gender or race
Speaker 2: or whatever ethnicity. It's just as bad to say that
Speaker 2: you won't do it as it is to say that's
Speaker 2: the only reason. Because the reason is is that it
Speaker 2: puts the emphastis on the wrong salable, as people would say, right,
Speaker 2: we're putting the emphasis in the wrong place. It's if
Speaker 2: you think like that and vote like that, you've actually
Speaker 2: created a scenario. And it's so ironic to me. People
Speaker 2: talk about, oh, our democracy is at stake and all
Speaker 2: this stuff. If you want to really put our quote
Speaker 2: unquote democracy at stake or if you prefer our our
Speaker 2: Sorry Ozeneko are having a stare up here in the
Speaker 2: studio studio. I don't know what that was about. But
Speaker 2: if you want to have a scenario where our democracy
Speaker 2: or our constitutional republic is at risk, then start voting
Speaker 2: for people for reasons that have nothing to do with policy,
Speaker 2: whether that is to vote for them because they're a
Speaker 2: certain race, or to not vote for them because they're
Speaker 2: a certain race. That takes the focus off of what
Speaker 2: really matters. What really matters is what we're talking about here,
Speaker 2: which is what Kamala says she wants to do as
Speaker 2: president of the United States. She wants to control prices,
Speaker 2: She wants to take control of this. She wants to
Speaker 2: tell companies what they can charge for things. This is
Speaker 2: a terrifying concept. It is not consistent with a free market.
Speaker 2: It is not consistent with what prosperous nations do. It
Speaker 2: actually makes things markedly worse, much much much worse, as
Speaker 2: of course it is with anything that is touched by
Speaker 2: these leftists. So I want to talk about that a
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Speaker 2: of the price gouging ban. Let's get Actually, I want
Speaker 2: to switch to another article that I have here in
Speaker 2: the stack of stuff. This one is where's this one?
Speaker 2: I want to say? This is National Yeah, National Review. President.
Speaker 2: The headline of this is President Harris, same as Senator Harris.
Speaker 2: So I don't have much time here, but I at
Speaker 2: least want to set the stage in this But in
Speaker 2: a relatively substance free election season, the few policy ideas
Speaker 2: we hear are terrible. But now Vp Harris has come
Speaker 2: up with the dumbest policy of them all, federal price controls.
Speaker 2: Here's the story from Washington Posts. Jeff Stein. In a
Speaker 2: statement released late Wednesday night, the Harris campaign said that
Speaker 2: if elected, she would push for the first ever federal
Speaker 2: ban on food price hikes, sweeping with sweeping new powers
Speaker 2: for federal authorities. Noah Rothman has a great post about this.
Speaker 2: It is crazy. I can't think of an issue that
Speaker 2: has little support or as little support among economists on
Speaker 2: the right, the center, and the left as price control regulations,
Speaker 2: including rent control which was pushed by Biden a few
Speaker 2: weeks ago, anti price gadging measures and similar policies. It
Speaker 2: is especially silly as a way to fight inflation. Remember,
Speaker 2: this is all in response to the inflation numbers. This
Speaker 2: is all in response to that. This is designed to say,
Speaker 2: this is what I would do, Kamala Harris would say
Speaker 2: to drive down inflation. That's the whole premise. That's why
Speaker 2: we started with inflation here at the top of the hour.
Speaker 2: So more to say about this, but I'm out of
Speaker 2: time this segment. Quick time out, my friends. Back here
Speaker 2: in just a minute. Welcome back, my friends. Here we
Speaker 2: are our final segment of this hour, just talking about
Speaker 2: price controls. Price controls, which of course is what Kamala
Speaker 2: Harris is she's proposing here. It's absolutely insane. Were looking
Speaker 2: here at this article at the National Review, which is available.
Speaker 2: I've linked to it on the stack of Stuff page
Speaker 2: on our on our website. The price controls do not work.
Speaker 2: Price controls, especially to drive down inflation doesn't work because again,
Speaker 2: pop quiz, who is responsible for inflation? Who is responsible
Speaker 2: for inflation? I'll give you a minute to come up
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Speaker 2: you come up with your answer on the pop quiz?
Speaker 2: Who is responsible for inflation? Is it big corporations? Is
Speaker 2: it trade union? Is it foreign countries? Or is it
Speaker 2: Pay attention here, my friends, I'm giving hints out. Is
Speaker 2: it your federal government? Ding ding ding circle gets the
Speaker 2: square if you said that it was d your federal government.
Speaker 2: And so to target companies and to say you can
Speaker 2: only sell certain products, or you can only sell products
Speaker 2: for certain prices, you can't raise prices is a massive, massive,
Speaker 2: massive stupid thing to do. In fact, this article points
Speaker 2: out some of this. This is a Noah Smith. Well,
Speaker 2: let's see, I'm gonna go to there's a couple people
Speaker 2: that comment on this. It's hard to exaggerate. This is
Speaker 2: written by Catherine Rample the Washington Post. It's hard to
Speaker 2: exaggerate how bad this policy is. It is an all
Speaker 2: but name, a sweeping set of government enforced price controls
Speaker 2: across every industry, not only food. Supplying demand would no
Speaker 2: longer determine prices or profit levels. Some far off Washington
Speaker 2: bureaucrats would The FTC would be able to tell, say,
Speaker 2: a Kroger in Ohio, the acceptable price it can charge
Speaker 2: for milk. At best, this would lead to shortages, black markets,
Speaker 2: and hoarding, among other distortions seen previous times countries tried
Speaker 2: to limit price growth by FIAT. There's a reason narrower
Speaker 2: price gouging laws that exist in some US states are
Speaker 2: rarely invoked. At worst, it may accidentally raise prices. And
Speaker 2: that's the reality. I mean, just think about this. If
Speaker 2: you're a market, if you're a little store and you're
Speaker 2: selling a and you're selling food items, folks. I remember
Speaker 2: I used to have a relationship of a friendly relationship
Speaker 2: with someone who was in who worked for a big
Speaker 2: retail convenience store and gas station chain, and she told me,
Speaker 2: she said, look, we don't even try to make money
Speaker 2: on the gasoline. What we're trying to do is get
Speaker 2: people to come into the store and buy, you know,
Speaker 2: a candy bar, or to pick up a fountain, whatever
Speaker 2: it is. You know, they buy things in the store.
Speaker 2: It's convenient, they need it, they want it. They just
Speaker 2: fueled up, and now they're going to grab it and
Speaker 2: go out the door. She even said on some occasions
Speaker 2: they lost money. You know, in those weird times when
Speaker 2: you know, a truck would bring the new fuel supply in.
Speaker 2: Maybe the price had gone up, but it hadn't hit
Speaker 2: the you know, the pump shit, it hadn't been updated
Speaker 2: or whatever. The might be a time where they were
Speaker 2: taking it at a loss. So you're talking about industries
Speaker 2: that have a small amount of margin, and a lot
Speaker 2: of these places don't look at percentage wise large margins.
Speaker 2: What they're looking for is traffic. What they're looking for
Speaker 2: is to make up the money they need to make
Speaker 2: by volume. And now, if you're going to say you
Speaker 2: have to sell this at X dollars, what do you
Speaker 2: think is going to happen? Especially if they have to
Speaker 2: start selling it at a loss. I mean any number
Speaker 2: of things, right, They're going to maybe stop selling it
Speaker 2: if they stop selling it. What's going to happen to
Speaker 2: the prime the cost from the wholesale manufacturer. I mean,
Speaker 2: it's going to cause havoc on the economy. And I'm
Speaker 2: out of time. I can't get into it anymore. Gotta go, SDG.