It's the Economy Stupid and Harris is STILL Not Getting It!

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Episode Transcript

Speaker 1 (00:01):
This election as we are, what less than fifty days
away from election day, is an incredibly important election. It's
going to have a massive impact on this country and
the future of this country. Steve Forbes putting out a
warning that Harris will plunge the US into a nineteen

(00:22):
Thirti's economic catastrophe, saying that he believes that Kamala Harris's
proposed economic plans will not only plunge the US into
an economic catastrophe, but one that we have not seen
since the Great Depression in the nineteen thirties. He said,
it's not just what she's trying to do on food
prices with price controls, but it's also her tax policy

(00:46):
and how aggressive it is to take from all Americans,
talking about investments, how she wants to take from every
American so they cannot provide for themselves. D Forbes, by
the way, is correct in what he's saying, and if
you look at her economic catastrophe what it would mean,

(01:08):
it would mean also taking away our constitutional rights, the
same thing that we witnessed during the pandemic, except this
time it would be Kamala Harris deciding that the people
need to be weak and the government needs to be
extremely strong. Now, this warning comes as so many in
the media, so many in the media are hoping that

(01:30):
you're gonna forget, that you're gonna not remember one of
her core plans. She's not backed down from this plan.
She's not backed away from this plan. Her plan on
Soviet style price controls is very much still here. And
I want people to understand that there was a warning
that happened in August August the fifteenth, when Donald Trump

(01:54):
came out and warned the American people about Kamala Harris's proposal.
It's a communist price control and as he described it,
she's running on the quote Maduro plan.

Speaker 2 (02:05):
Now, Kamala's reportedly proposing communist price controls. She wants price controls,
and if they worked, I'd go along with it too.
But they don't work. They actually have the exact opposite
impact and effect. But it leads to food shortages, rationing,
hunger dramatically, more inflation. Their Inflation Reduction Act, by the way,

(02:26):
was a disaster. It's what caused the inflation. Their Inflation
Reduction Act was a con job. They actually admitted that
it wasn't really for inflation that they did it. They
don't know why they did it, but they named it
the Inflation Reduction Act, which was a very nice name.
Got approved based on that. Unfortunately, people didn't understand it.

(02:47):
I understood it. I said, that's going to cause tremendous inflation,
and it did, among other things like energy. She's running
on the Maduro Plan. We called the Maduro Plan like
something straight out of Venezuela or the Soviet Union. This
announcement is an admission that her economic policies have totally
failed and caused really a catastrophe for our country, and

(03:09):
beyond that, a catastrophe in the world.

Speaker 1 (03:14):
A catastrophe in the world. So let's talk about some
of that for a second. What Kama Harris is proposing
is absolutely commun price controls. What does that mean? And
this is where we have to do a better job
explanning it to every voter in this country. You noticed
Donald Trump said, Hey, if it worked, I'd be in

(03:36):
favor of it. Did you hear him say that. He said, Unfortunately,
it doesn't work. Right. I think there's some people early
on that thought, all right, we're gonna do price controls,
and that's gonna be a good thing. It's going to work.
And then at backfire because as soon as the prices
the government set were not obtainable by the private sector,
the private sector just shut down and stopped producing. That

(03:57):
led to shortages and food to options that disappeared. That
led to the store shelves being empty. Everywhere they've done this,
everywhere they've tried to do this, it has been a failure.
And if you could find where it'd been successful, then
we could have a different conversation. But you cannot find

(04:18):
where it's been successful. That's the whole problem. All right.
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Today nine seven to two Patriot and get free month
of service with the promo code. Ferguson. If you look
back in history, when the government comes in and the
government says we're going to control prices, the sectors that
they're trying to control the price on, they just disappear.

(06:49):
David Brooks, by the way, came out. He was on
PBS News Hour. Now PBS News Hour is not watched
by a lot of people, but he said something that
was very important back in August. I think everybody should
listen to it.

Speaker 3 (07:02):
And David, on this matter of economic policy, the Vice
President is also proposing the first ever ban on price
gouging for groceries. This is something I know you too
a particular issue with. It pulls well with swing voters,
but economists say the underlying reasons why prices are higher,
it's a more complicated argument.

Speaker 4 (07:19):
Yeah, I mean, she has some good policies in this package.
I think the Child's Act credit is a good thing.
She wants to deregulate housing so we can get more homes,
but the price gouging is just well. Katherine Rampell, a
Washington Post columnist, a News Hour contributor, said it's impossible
to exaggerate how bad this policy is, and I agree
with that. And Catherine had a good line that if

(07:39):
your opponent is calling you a communist, maybe don't lead
with price controls. And so price controls just create shortages
that create black markets. We've seen it happen in Venezuela.
We've seen it happen in Soviet Union. Price controls just
don't work. What's worse about that, First, it's trying to
address a problem that does not exist. Price grocery prices.
Inflation has been less than one percent for the past year.

(08:02):
It's over. We had a surge, but it's over. The
problem does not exist. But the real core problem is
that expresses a level of economic illiteracy, which is kind
of surprising in a responsible democratic candidate. You know, the
idea behind greed inflation is that we had all these
years of low inflation under Obama under bushes, and I
guess people weren't greedy then, and then Biden gets in

(08:24):
and suddenly, magically they all get greedy and stite price scougen,
and they do it at Kroger's, at Harris Teeter, at
H ANDP. Suddenly there's this mass of price scougen, and
she thinks she can prosecute it. That's not why inflation surged.
Inflation surge because we had a pandemic which screwed up
supply chains and productivity. Then the Biden administration overstimulated the
economy too many dollars chasing too few goods. Obama administration

(08:48):
officials Larry Summer and Jason Furman said at the time,
this is going to cause inflation low and behold it did.
The Fed has to clamp down on growth, raising everybody's
interest payments. That's what caused inflation. That's solid basic economic
Her gre inflation plan is somewhere off outside of normal economics.

Speaker 1 (09:04):
What outside of normal economics? David Brooks, by the way,
not a hardcore conservative on PBS telling you that this
is a catastrophe. This is what we have seen in
Venezuela and the Soviet Union. Price controls do not work.
What is worse about that? First is addressing a problem

(09:26):
that does not exist. He says, grocery prices inflation have
been less than one percent for the past year. It's over.
He may be right, by the way we've had a surge.
The surge is still here, but it's not still surging.
It's over. He said. The problem does not exist, but
the core problem is an express a level of economic
illiteracy that is surprising in a responsible democratic candidate. I

(09:52):
have to disagree with him there. I don't think it's
that Kamala Harris doesn't understand it. I think Kamala harre
Us is a socialist and that's what she wants. So
when you are a socialist, right, when you are a socialist,

(10:13):
you advocate support socialist ideas, you advocate, you support socialist
agenda items because you want it to be a socialist country.
She does not believe in a democracy. She does not
believe in freedom of speech, freedom of expression, she does

(10:37):
not believe in any of those things. She believes in
something totally different. It is called socialism. And when she
starts advocating for it, believe her. Let me also go
back to something else, that was said in this comment
by David Brooks on PBS. Quote the idea behind greed inflations.

(11:02):
We had all those years of low inflation. I guess
people were not greedy. Then then magically they all get
greedy and start price gouging at Kroger, Harris, Teeter, agb
and there's this massive price gouging. That's not why inflation surge,
he said. Inflation surge because of the pandemic, which screwed
up supply chain and proactivity. The Biden administration overstimulated the economy.

(11:23):
Larry Summers and Jason Furman said at the time, this
will cause inflation. Lo and behold it did. These are
the people that are running our government now that said this.
The FED has to clamp down on growth, right, which
is the cause, which is what causes inflation. That is

(11:43):
basic economics. He goes on to say, her greedflation plan
is somewhere outside of normal economics, normal economics. He's absolutely right.
Now you can say Kama Harris is an idiot, and
that can be how you explain it, right, like Kalmaher's
is an idiot and she doesn't understand basic and you know,

(12:07):
economic issues and inflation or you can say she knows
exactly what she's doing and she just is a communist.
I believe that she is a communist. Okay, that's that's
just what I believe, not because I might thinking or guessing. Okay,

(12:30):
I think she is a communist because she says she's
a communist that believes in communist ideas. Her proposals are communists.
Her proposals are communist ideas. Her her proposals are ideas
that communists implements. So we don't need to apologize on

(12:51):
her behalf. The media doesn't it need to apologize on
her half. The media needs to understand that she is
a person that is actually what I just described. She
is a person that is a communist who believes in

(13:14):
communists ideals. And by the way, David Brooks wasn't the
only one that was warning people about how absurd this was.
Haikim Jeffries was asked about it the Harris Economic Agenda.
Hakim Jeffries is one of the guys. It's you know,
he's the leader of the Democratic Party. He even understands
that you can't just walk out there and tell people
you are in favor of communism. So what do you do.

(13:35):
He says, Oh, I haven't heard the plan. He just
straight applied to the American people on CNBC.

Speaker 5 (13:39):
Listen carefully, let me ask you about just price controls.

Speaker 6 (13:42):
And you know, you.

Speaker 5 (13:45):
Studied economics, you know how these things work. In the past,
that has not been the most.

Speaker 6 (13:50):
Effective way to do things.

Speaker 5 (13:53):
And you know, to blame a lot of the current
inflation on corporate creed. For forty years, inflation didn't reach
the levels that we.

Speaker 1 (14:02):
Saw from a couple of years ago.

Speaker 5 (14:04):
So it's just hard for people to understand how the
price gouging. The corporations were unable to do it for
forty years, and then suddenly they started doing it a
couple of years ago, right when President Biden took office,
and that that is largely responsible for the inflation that
we saw.

Speaker 1 (14:25):
Why wasn't why suddenly did it?

Speaker 7 (14:27):
Were corporations able to do that?

Speaker 5 (14:28):
Leader Jeffer, Why hadn't they done it all along? If
they were greedy and profit mongers and everything else.

Speaker 8 (14:36):
First of all, I haven't heard Vice President Harris talk
about price controls. She's talked about making sure that there's
no price gouging that takes place, so that we have
a properly functioning market where consumers have the ability to
purchase the goods that they need at a fair market

(14:59):
based price without any unlawful activity that occurs. This should
not be a controversial thing from the standpoint of wanting
to make sure that we are lowering costs, allowing corporations
and companies to function in the context of a properly regulated,
market based economy. But we are driving down the high

(15:22):
price of things like life saving prescription drugs, making sure
that people can afford groceries because there are millions of
Americans who are struggling to live paycheck to paycheck.

Speaker 6 (15:34):
That should not be the case.

Speaker 8 (15:36):
In America, the richest country in the history of the world.
And we're going to try to lower costs, grow the
middle class, and make sure that there's an economy that
works for hard working American taxpayers. That's not too controversial
in the communities that I spend time in all across

(15:59):
the nation.

Speaker 1 (16:01):
I mean, that's one of the biggest bs, just total
crap answers ever. But that's the guy who's running the house,
and he's like, well, look, I haven't heard VP Harris
talk about price controls. He's trying to run away from
it because he understands just how damning it is. It's damning.
I mean, that's what this is. Larry Kudlow explaining it

(16:24):
this way on Fox Warning America.

Speaker 9 (16:27):
I can imagine your take, but let me have it.
Thanks for having me, Brett. I appreciate it. Look, this
is price controls by any other name. I mean, it's
like a sheep in sheep's clothing. It's price controls because
it's price controls. But here's the thing. I mean, we
know how bad that turned out for Nixon. Price control

(16:47):
has never worked in Russia, Soviet Union, Venezuela, or Cuba.
They never work. They cause shortages, they cause black markets,
and eventually they cause higher prices because the control are
lifted because people are yelling about shortages. But no one
really knows what she means by price gouging. There's no definition.

(17:09):
There's a lot of blah blah blah in the rule
in their announcement about rules and the Federal Trade Commission, well,
the Federal Trade Commission has tried a bunch of cases
about price gouging or so called corporate greed, and they've
lost them all Over the past three and a half years,
and one more thing I just look at I mean,

(17:29):
she's miss Harrison yelling about beef producers, I guess, and
poultry producers and grocery stores. So I looked at their
corporate margins. Are they making any money? I mean, if
they're gouging somebody bread, they must be enormously profitable, and
they are not. Okay, the grocery stores profit margins one

(17:53):
point two percent, meat, beef, and poultry four point seven percent,
all of them American business eight point five percent. Look,
you should if she wants to go after somebody for
making too much money, uh, here's what Apple twenty six percent,
Microsoft thirty six percent, Navidia fifty three percent. You see

(18:15):
where I'm going on this. There's no case to be made.
No one knows what it is, but it's bad. If
it ever worked, it would be bad.

Speaker 1 (18:23):
I go back to what he said there about the numbers,
and this matters. If you're if they are gouging somebody,
then that's one thing, but they're not. Grocery store profit
margin is one point two percent, the meat, beef, and
poultry four point seven all of American businesses average eight

(18:43):
point five. She wants to go after somebody for making
too much money. Here's who she should go after. You
want to go to price causing Apple is twenty six percent,
Microsoft thirty cents, Navida fifty three percent. But see those people,
they haven't made into a boogeyman, right, because no one's
really complaining about the iPhone costs because you don't have

(19:04):
to buy an iPhone every day. You gotta buy groceries
like every day or every couple of days. You get
my point. It's a regular thing, like you're getting groceries
on the regular, folks. And so that's the reason why
she's saying, we'll just do price control, even though everybody
knows that it's not going to work. That understands capitalism,

(19:28):
that understands free markets, and everybody knows it's never worked anywhere.
Everybody knows it's been a disaster everywhere. Yet here she
is out there still saying it running. You vote for me,
and I'm going to mandate that they sell you milk
for a dollar, that they sell you eggs for a dollar,

(19:49):
they sell your bread for a dollar. Well, when there's
no eggs or milk or bread left and you're sitting
there in the line begging for food, you're gonna know
who's fault it is. It's your fault. I want to
take a moment and I want to ask for your help.
The war in Israel started on October the seventh. We
have seen death and destruction in the Holy Land for

(20:09):
more than forty years. The International Fellowship of Christians and
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been feeding the hungry and protecting the vulnerable. You may
not realize, but Israel is literally under attack now on
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His beloved daughter and her husband were burned alive on

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support IFCJ dot org, support IFCJ dot org. Let me

(21:35):
go back to the day the Kama Harris came out
with this communist price control plan. David Asman, who's on Fox,
he's a Fox Business anchor. He was on Fox News
channel right after she said it, and even he was
like in shock, like and by the way, when I
was watching this, I was in shock because I couldn't

(21:56):
believe that she would actually advocate for this, that she
would support.

Speaker 10 (22:00):
So, you know, big applause lines, one of them that
twenty five thousand dollars for your non payment for your
first house. I don't know, you know who wouldn't applaud
for being given twenty five thousand dollars from the government.

Speaker 1 (22:14):
Especially if there's no price tag.

Speaker 7 (22:17):
I mean, they've worked out a kind of a price tag,
but nobody believes it.

Speaker 10 (22:20):
Yeah, I would just point out before you take it
away that you know, when the government gives someone twenty
five thousand dollars, it's coming from tax payer money. There's
only one source of income for the government, and it's
the money that you make in your job and everyone
else makes in their jobs. That goes and then the
government decides this person's going to get your money or
that person's going to get your money.

Speaker 7 (22:39):
And if you think federal grants will keep prices down,
just look what happened to student loans. Whenever the student
loan was forgiven, the tuition keeps going up. It kind
of elevates price levels rather than get some under control.
And right now, that's the price that's the problem that
we have, or the prices of homes, and they are
so expensive because there's a limited inventory. The last thing

(23:01):
you need is to increase the shortage of houses by
price controls. And remember she was not only talking about
price controls on food, but also price controls on rent,
federal price controls that's usually controlled by the local government.

Speaker 4 (23:15):
She wants to make it.

Speaker 7 (23:15):
A federal issue. The bottom line is what we are
seeing here is a massive pivot to the left on
economic policy. She was trying the questions about whether she
would remove herself or move herself away from Bidenomics. Nobody
expected her to move much further to the left. He
never suggested price controls. He kind of hinted that maybe

(23:36):
that was the answer. He talked about price gouging, but
this for the first time ever, a federal ban on
price gouging on food.

Speaker 1 (23:44):
Food.

Speaker 7 (23:44):
By the way, the grocery industry has a profit margin
of one point six percent it did in twenty twenty three.

Speaker 9 (23:50):
Compare that to Apple.

Speaker 7 (23:51):
Apple's price margin is over way over thirty percent.

Speaker 1 (23:57):
You can hear just the shock in his book right
after she said it. And I even forgot about the
twenty five thousand, Like when they're like, oh yeah, and
we'll also give you twenty five thousand dollars to buy
your first house. Wait what These are the same people
also that will lie to you and tell you, oh yeah,
and vote for us, and we're gonna pay for student loans.
It's not gonna happen. It's unconstitutional and they've already ruled

(24:19):
on it. But it doesn't matter. We'll just keep saying
it anyway, because we believe there's enough dumb people out
there that are willing to sit in poverty and vote
for us over and over and over and over and
over and over again, and just sit there in poverty,
Just sit there in poverty and just say, sure, government,

(24:40):
give me some cheese and I'll be happy. And just
give me enough to survive and live in poverty and
I'll be happy, and I'll vote for you every time.
That's what they're asking for. They want you to be dependent,
completely and utterly dependent on them. That is the ball.

(25:01):
That's the whole ball game. There's nothing else like. That's it.
That's the whole thing. It's the whole conversation. That's all
of it. Folks, and anyone that doesn't understand that you're
not listening to what they're telling you, you're not listening
to just how dangerous this is. I would love to

(25:23):
always go into a grocery store and know two things.
One I'm gonna have groceries and options, and two I'm
gonna have a hell of a lot of options. That's like,
that's it. I just want to know that when I
walk into a grocery store, it's gonna be okay, that
I'm not gonna have to sit here and beg for

(25:44):
food like bidnomics has destroyed this country. You know, you
want to talk about the price of food. What's next?
You're gonna do costs mandates on restaurants that they must
sell you at a cheese pizza at a certain price,
and if it goes over that, they're not allowed to
do it, because that's what would be next. Right, Oh,

(26:05):
you want chicken palm? Yeah, here's the only price that
you got to you're allowed to to. Can't go over this.
Food prices of skyrocket in this country. You are already
gonna do. Just put a max dollar amount on a
six count of nuggets a Chick fil A and tell
Chick fil A you can't go over it. And then
when all of a sudden they have to, they just
shut every restaurant down because they have no other option

(26:28):
because it can't be open losing money every single day.
There is a cause and effect here, Like, that's the
other part of this that I think really people need
to understand. There is a legitimate cause and effect, a
very real, a very legitimate cause and effect aspect of
all of this. Let me also play for you an

(26:50):
example of summer food costs, and this is restaurants. This
is a local news report out of Philadelphia, right, Pennsylvania
Swing state important swings and listen to their warning.

Speaker 11 (27:02):
Some eatery employees tell us they've had to increase the
prices on their menu because they're getting charged more from
their suppliers.

Speaker 1 (27:10):
Not my fault, you know, buy high with ouhi.

Speaker 11 (27:13):
You know that's led to fewer diners.

Speaker 1 (27:15):
People don't spend any money. They're tied on the pocket,
you know what I mean.

Speaker 11 (27:18):
They'll wait, they look how much, how much?

Speaker 1 (27:20):
You know, they wait for the you know, the price
a little high.

Speaker 11 (27:24):
People say they've also noticed the pinch. Buying food to
go on the Ocean City Boardwalk.

Speaker 2 (27:28):
Has definitely gotten way more expensive than it used to be.

Speaker 8 (27:31):
I mean, we've been coming down here for a few
years now, and makes it kind of hard to want
to even come down here because prices get so crazy.

Speaker 11 (27:38):
If you think you'll save money by buying groceries, you
may find out that's not the case.

Speaker 1 (27:43):
Very very, very expensive.

Speaker 11 (27:45):
Mary Walsh says she's noticed high prices at her local
grocery store in Ocean City as she's getting ready to
host a Fourth of July party.

Speaker 1 (27:53):
You go in One bag is one hundred dollars.

Speaker 11 (27:56):
Our six ABC data journalism team found most of the
holiday food it's have increased in price since last summer,
with the largest rises among meat products. Hot Dogs are
up seven point three percent, ground beef up four point
nine percent, beer three percent, and ice cream one percent.
The owner of Yanni's Cafe says he's trying to help

(28:17):
keep dining costs stay low.

Speaker 12 (28:19):
We don't.

Speaker 2 (28:22):
They charge.

Speaker 11 (28:22):
He adds being a year round business also helped stabilize costs.

Speaker 4 (28:26):
We stay open year round, and that's why you open.

Speaker 2 (28:29):
We busying the witta tanto.

Speaker 1 (28:32):
So what are you going to do next, Kamala? Are
you going to tell that guy must sell his food
for less than what it costs him to make it.
What's going to happen there? I want to know. I
want to know. Somebody explain that to me. David Axerod right,
one of the guys that helped get to where we are.

(28:55):
What does he say about the dinner table?

Speaker 6 (28:57):
Well, look, I think today it made sense. When Trump
was returning to the Capitol after what twelve hundred and
fifty four days or whatever it was, you know, twelve
hundred and fifty four days after he sent a mob
rampaging through that building, I think it was an appropriate
time to raise this. I will see how extensively they

(29:17):
use that ad. Look I've said before, I mean, I'm Jake,
you know this. I'm the son of a Jewish refugee
from Eastern Europe, and I so love this democracy and
I think this is a central concern. But I've also said,
if you are talking about democracy over the dinner table,

(29:37):
it's probably because you're don't have to worry about the
cost of the food on your dinner table.

Speaker 1 (29:42):
That might be the weirdest thing I've ever heard said
ever by David Ax. If you're talking about democracy over
the dinner table, it's probably because you don't have to
worry about the cost of food on your dinner table.
So what is the point you're making here? You're saying
that the America people don't need to worry about the food,
or they don't need to worry about democracy, or are

(30:04):
you saying we should just get rid of democracies and
you don't have to worry about food costs?

Speaker 11 (30:08):
Like?

Speaker 1 (30:09):
Which one is it? Let's go back to local TV.
How about New Orleans. Listen to this coming out of
a local news station wvu E TV Fox eight, New Orleans.

Speaker 9 (30:20):
People aren't focused on CPI they're focused on at the
grocery store.

Speaker 12 (30:24):
Food costs more than it used to. Yeah, and we're
not seeing it come down. We're not seeing it come down.
It costs more for wages of food and for owners
to run their companies right now, right now. So if
that's not coming down, people are not really feeling the
effects of it now. I do think they'll start lorne
interest rates, but not till late.

Speaker 1 (30:41):
So at least on local news, they seem to be
honestly covering this somewhat accurately. They're like, look, the American
people are like, I mean, they're struggling right now. It's expensive.
It costs a lot of money. Like, it's not cheap, folks, Like,
it's real. It's costing some cash. Yeah, it is. You're

(31:02):
absolutely right, it's costing a lot of cash. Don't forget
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(31:23):
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