Peter St Onge Podcast
Ep 78 Roundup: Kamala's Price Controls
Aug 26, 2024
This week’s discussion dives into Kamala Harris's price control proposals and their historical pitfalls. The conversation explores the troubling link between declining inflation and economic weaknesses, shedding light on rising federal spending. Millennials and Gen Z face financial woes in a volatile job market, highlighting a sense of hopelessness. The podcast critiques the soaring costs of education and housing, while also exposing the failures in public schooling and job reporting. Tune in for insights into how these issues shape America's economic landscape.
19:06
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Quick takeaways
- Kamala Harris's proposed price controls on food could lead to shortages and black market activity, reminiscent of past economic failures.
- Young Americans are increasingly burdened by stagnant wages and rising costs, exacerbated by government intervention in education and housing markets.
Deep dives
The Impact of Price Controls on the Economy
Proposals for implementing price controls on food have been criticized for potentially leading to significant shortages and black market activities, reminiscent of past economic failures during the Nixon administration. When businesses are forced to sell products at a loss due to price regulations, it can trigger a halt in production, ultimately leading to empty shelves. Currently, grocery stores operate on extremely thin profit margins, making such policies particularly harmful in an already challenging economic landscape. Instead of addressing the root causes of inflation, these solutions risk exacerbating the situation and undermining the competitive pricing that has historically benefited consumers.
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