Kamala doesn't know history much less how economics works..

[gipper]

Sadly I think many people don't take the words of politicians very seriously.

It's why they say dumb things like this.

They know no one is going to hold them accountable unfortunately.

I suspect they want to believe. Like Trumpers who believe he’s for the working class and against the deep state.

 

[healthmyths]

/—-—/It would require industry-wide collaboration. A small regional bakery would undercut the gouging (AKA gauging) stores. Besides, store-brand bread is often sold as a loss leader.
Soviet bread lines comming to America.
View attachment 997085

The correct word is "gouging"..
"gauging" is a noun The addition of various materials to lime mortar.
Wiktionary, Creative Commons Attribution/Share-Alike License • More at Wordnik

 

[Cellblock2429]

The correct word is "gouging"..
"gauging" is a noun The addition of various materials to lime mortar.
Wiktionary, Creative Commons Attribution/Share-Alike License • More at Wordnik

/---/ I guess CNN and the other tripe you listened to didn't report this gaff. It's proof she didn't write the speech, otherwise she'd know how to pronounce it correctly.
It's at 13 seconds:

 

[Lesh]

Let’s see what she proposes before you whine eh?

 

[Concerned American]

Kamala Harris wants price controls to pretend it’s not her fault you can’t afford groceries

Kamala Harris has a price control scheme to fight fake price gouging on groceries so she can pretend it’s not the Biden administration’s fault no-one can afford food anymore.

nypost.com

I find it amusing everytime she says "When I'm elected..." She is the face of the admin now. But in her defense, she has never won a primary for potus, so maybe it was a Freudian slip.

 

[Foxfyre]

Vice President Kamala Harris on Friday is expected to call for a federal ban on price gouging to lower grocery prices and everyday costs for Americans in her first economic policy speech

https://www.cnn.com/2024/08/15/politics/harris-price-gouging-ban-economic-policy-speech/index.html

Details...details... "the devil is in the details".

What price would Kamala suggest for a loaf of bread?
Price that was before she became VP which was: In 2020 loaf of bread $1.54 -------
Price today: Loaf of bread: $2.54 in 4 years nearly DOUBLE the price.

U.S. retail price of white pan bread 2023 | Statista

The retail price of white pan bread in the U.S.

www.statista.com

So what will the supermarket, especially the smaller neighborhood store in what are called.."food deserts" that don't have enough volume?
The small "food desert" grocery store will have to pay MORE to the bread delivery group because THEY won't be able to give the "food desert" store the same discounts they are giving the supermarkets which buy at a larger volume and the delivery cost is lower, i.e. gas, labor etc.
So what will happen to the grocery store? They can't raise the prices on anything as they are the last stop in buying bread, etc.
Kamala and all ignorant people don't understand how this works don't obviously understand what "price gouging" is.
The small local grocery store in the "food desert" will close!

V.P. Harris's economic plan in a few words is 'price controls' that gave us double digit inflation in the 1970's extending into the 1980's and throw more and more big government money at problems that has exacerbated and/or caused a lot of the inflation we have now.

And yes, on both counts she shows a miserable lack of understanding/knowledge of history and economics.

MSN

 

[Cellblock2429]

Let’s see what she proposes before you whine eh?

/---/ I have an advanced copy of her speech.

 

[Concerned American]

The correct word is "gouging"..
"gauging" is a noun The addition of various materials to lime mortar.
Wiktionary, Creative Commons Attribution/Share-Alike License • More at Wordnik

Actually, "gauging" is the present participle of the verb gauge. As in "measuring" but to your point it is not "gouging"

 

[berg80]

What price would Kamala suggest for a loaf of bread?

A price that doesn't involve gouging.

 

[Concerned American]

A price that doesn't involve gouging.

Hasn't been any gouging, comrade. The prices reflect the costs that the business encounter. That is how the free market works, sonny. These increased costs are directly due to the policies of this administration and she is doubling down on stupidity. Come back when you dry behind your ears.

 

[Cellblock2429]

A price that doesn't involve gouging.

/---/ Problem solved. Store brands are sold as lost leaders and often made by the same bakeries producing national brands.

 

[Cellblock2429]

Hasn't been any gouging, comrade. The prices reflect the costs that the business encounter. That is how the free market works, sonny. Come back when you dry behind your ears.

/---/ The increase of the minimum wage to $15 is trickling down to the retail cost of groceries.

 

[Lesh]

Hasn't been any gouging, comrade. The prices reflect the costs that the business encounter. That is how the free market works, sonny. These increased costs are directly due to the policies of this administration and she is doubling down on stupidity. Come back when you dry behind your ears.

Ohhh bullshit. When they see a valid reason to raise prices they tack on a little extra because who can sort out what is extra when all people know is that prices are going up

 

[Foxfyre]

Actually, "gauging" is the present participle of the verb gauge. As in "measuring" but to your point it is not "gouging"

Whether gauging (determining causes and amount of high prices) or gouging (unreasonably escalating prices), the Vice President shows a huge lack of understanding of how a reasonably regulated free market capitalistic economy works.

The only way that prices can be lowered without causing other serious problems is by flooding the market with products and services generated by the private sector with lots of healthy competition. That not only encourages those who produce the products and services to continue to improve them but make them desirable to buyers at attractive prices.

To accuse grocers of price gouging and capping prices of food when the net profit margin of all U.S. grocers is generally less than 1.5 percent is to force many out of business altogether and create massive shortages.

Subsidizing housing will greatly escalate housing costs and/or create shortages just as government subsidizing health care and education have greatly escalated the cost of both.

 

[Procrustes Stretched]

Vice President Kamala Harris on Friday is expected to call for a federal ban on price gouging to lower grocery prices and everyday costs for Americans in her first economic policy speech

https://www.cnn.com/2024/08/15/politics/harris-price-gouging-ban-economic-policy-speech/index.html

Details...details... "the devil is in the details".

What price would Kamala suggest for a loaf of bread?
Price that was before she became VP which was: In 2020 loaf of bread $1.54 -------
Price today: Loaf of bread: $2.54 in 4 years nearly DOUBLE the price.

U.S. retail price of white pan bread 2023 | Statista

The retail price of white pan bread in the U.S.

www.statista.com

So what will the supermarket, especially the smaller neighborhood store in what are called.."food deserts" that don't have enough volume?
The small "food desert" grocery store will have to pay MORE to the bread delivery group because THEY won't be able to give the "food desert" store the same discounts they are giving the supermarkets which buy at a larger volume and the delivery cost is lower, i.e. gas, labor etc.
So what will happen to the grocery store? They can't raise the prices on anything as they are the last stop in buying bread, etc.
Kamala and all ignorant people don't understand how this works don't obviously understand what "price gouging" is.
The small local grocery store in the "food desert" will close!

President Trump Said Revolutionary War Troops ‘Took Over the Airports’ in His Fourth of July Speech

 

[Procrustes Stretched]

get back to me just as soon as she starts talking about airports in the revolution.. if trump ever had a competent economic advisor i'm sure he fired them.

"And the rocket's red glare, Boeing soars through the air..."

 

[Procrustes Stretched]

Whether gauging (determining causes and amount of high prices) or gouging (unreasonably escalating prices), the Vice President shows a huge lack of understanding of how a reasonably regulated free market capitalistic economy works.

The only way that prices can be lowered without causing other serious problems is by flooding the market with products and services generated by the private sector with lots of healthy competition. That not only encourages those who produce the products and services to continue to improve them but make them desirable to buyers at attractive prices.

To accuse grocers of price gouging and capping prices of food when the net profit margin of all U.S. grocers is generally less than 1.5 percent is to force many out of business altogether and create massive shortages.

Subsidizing housing will greatly escalate housing costs and/or create shortages just as government subsidizing health care and education have greatly escalated the cost of both.

Net profits? What about "accounting changes, debt retirement, and the sale of major subsidiaries" being added in or subtracted?

"a reasonably regulated free market capitalistic economy works?" We are a consumer society.

"A free market system is ruled entirely by demand and supply, and there are few or no government regulations or price controls. A transaction occurs when the buyer and the seller agree on a price. In a capitalist system, the free market dominates, but some government regulation and oversight may occur."

now define "reasonably regulated" and "unreasonably escalating prices" and your lovely caricature falls apart. In supply and demand what constitutes "unreasonably escalating?"

 

[Mac1958]

Let’s see what she proposes before you whine eh?

Aside from all the standard partisan bullshittery here...

One of my brothers and I just took a deep dive into Kroger Grocery's (Ticker KR) income statement. I had seen that their stock price had been fairly flat over the last couple of years, which would be weird if they were gouging.

According to their numbers, their profit margins have also stayed flat, at a little over 2.0%. That means that the increases had been coming up through the supply chains and feeding on themselves.

So if a Harris administration wants to stop gouging, they'll have to dig. And if the increases are indeed all along the supply chains, gouging will be tough as hell to prove. This is what it looks like when inflation feeds on itself.

 

[Lesh]

Aside from all the standard partisan bullshittery here...

One of my brothers and I just took a deep dive into Kroger Grocery's (Ticker KR) income statement. I had seen that their stock price had been fairly flat over the last couple of years, which would be weird if they were gouging.

According to their numbers, their profit margins have also stayed flat, at a little over 2.0%. That means that the increases are coming up through the supply chains and feeding on themselves.

So if a Harris administration wants to stop gouging, they'll have to dig. And if the increases are indeed all along the supply chains, gouging will be tough as hell to prove. This is what it looks like when inflation feeds on itself.

Probably true but Kroger’s is not the only food supplier

Also note that she is NOT proposing that the Administration deal with this directly but rather “working with Congress “

 

[Mac1958]

Probably true but Kroger’s is not the only food supplier

Also note that she is NOT proposing that the Administration deal with this directly but rather “working with Congress “

They're large and representative enough. That industry is so close to the bone that the numbers are pretty consistent. A 2.0% profit margin is shit for virtually any other industry.

Maybe they have ideas for what Congress would do. I'm open to anything, but that'll take more work and accuracy than I generally give them credit for.