Latest / The Ben Ferguson Podcast / It's the Economy Stupid and Harris is STILL Not Getting It!

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It's the Economy Stupid and Harris is STILL Not Getting It! · The Ben Ferguson Podcast

0:01
Speaker 1: This election as we are, what less than fifty days
0:04
Speaker 1: away from election day, is an incredibly important election. It's
0:09
Speaker 1: going to have a massive impact on this country and
0:12
Speaker 1: the future of this country. Steve Forbes putting out a
0:17
Speaker 1: warning that Harris will plunge the US into a nineteen
0:22
Speaker 1: Thirti's economic catastrophe, saying that he believes that Kamala Harris's
0:28
Speaker 1: proposed economic plans will not only plunge the US into
0:31
Speaker 1: an economic catastrophe, but one that we have not seen
0:34
Speaker 1: since the Great Depression in the nineteen thirties. He said,
0:38
Speaker 1: it's not just what she's trying to do on food
0:41
Speaker 1: prices with price controls, but it's also her tax policy
0:46
Speaker 1: and how aggressive it is to take from all Americans,
0:51
Speaker 1: talking about investments, how she wants to take from every
0:55
Speaker 1: American so they cannot provide for themselves. D Forbes, by
1:00
Speaker 1: the way, is correct in what he's saying, and if
1:03
Speaker 1: you look at her economic catastrophe what it would mean,
1:08
Speaker 1: it would mean also taking away our constitutional rights, the
1:12
Speaker 1: same thing that we witnessed during the pandemic, except this
1:15
Speaker 1: time it would be Kamala Harris deciding that the people
1:19
Speaker 1: need to be weak and the government needs to be
1:21
Speaker 1: extremely strong. Now, this warning comes as so many in
1:25
Speaker 1: the media, so many in the media are hoping that
1:30
Speaker 1: you're gonna forget, that you're gonna not remember one of
1:37
Speaker 1: her core plans. She's not backed down from this plan.
1:40
Speaker 1: She's not backed away from this plan. Her plan on
1:44
Speaker 1: Soviet style price controls is very much still here. And
1:48
Speaker 1: I want people to understand that there was a warning
1:50
Speaker 1: that happened in August August the fifteenth, when Donald Trump
1:54
Speaker 1: came out and warned the American people about Kamala Harris's proposal.
1:58
Speaker 1: It's a communist price control and as he described it,
2:01
Speaker 1: she's running on the quote Maduro plan.
2:05
Speaker 2: Now, Kamala's reportedly proposing communist price controls. She wants price controls,
2:11
Speaker 2: and if they worked, I'd go along with it too.
2:13
Speaker 2: But they don't work. They actually have the exact opposite
2:16
Speaker 2: impact and effect. But it leads to food shortages, rationing,
2:20
Speaker 2: hunger dramatically, more inflation. Their Inflation Reduction Act, by the way,
2:26
Speaker 2: was a disaster. It's what caused the inflation. Their Inflation
2:30
Speaker 2: Reduction Act was a con job. They actually admitted that
2:34
Speaker 2: it wasn't really for inflation that they did it. They
2:37
Speaker 2: don't know why they did it, but they named it
2:40
Speaker 2: the Inflation Reduction Act, which was a very nice name.
2:43
Speaker 2: Got approved based on that. Unfortunately, people didn't understand it.
2:47
Speaker 2: I understood it. I said, that's going to cause tremendous inflation,
2:49
Speaker 2: and it did, among other things like energy. She's running
2:53
Speaker 2: on the Maduro Plan. We called the Maduro Plan like
2:57
Speaker 2: something straight out of Venezuela or the Soviet Union. This
3:00
Speaker 2: announcement is an admission that her economic policies have totally
3:04
Speaker 2: failed and caused really a catastrophe for our country, and
3:09
Speaker 2: beyond that, a catastrophe in the world.
3:14
Speaker 1: A catastrophe in the world. So let's talk about some
3:17
Speaker 1: of that for a second. What Kama Harris is proposing
3:21
Speaker 1: is absolutely commun price controls. What does that mean? And
3:26
Speaker 1: this is where we have to do a better job
3:28
Speaker 1: explanning it to every voter in this country. You noticed
3:33
Speaker 1: Donald Trump said, Hey, if it worked, I'd be in
3:36
Speaker 1: favor of it. Did you hear him say that. He said, Unfortunately,
3:39
Speaker 1: it doesn't work. Right. I think there's some people early
3:42
Speaker 1: on that thought, all right, we're gonna do price controls,
3:44
Speaker 1: and that's gonna be a good thing. It's going to work.
3:46
Speaker 1: And then at backfire because as soon as the prices
3:50
Speaker 1: the government set were not obtainable by the private sector,
3:53
Speaker 1: the private sector just shut down and stopped producing. That
3:57
Speaker 1: led to shortages and food to options that disappeared. That
4:02
Speaker 1: led to the store shelves being empty. Everywhere they've done this,
4:07
Speaker 1: everywhere they've tried to do this, it has been a failure.
4:12
Speaker 1: And if you could find where it'd been successful, then
4:15
Speaker 1: we could have a different conversation. But you cannot find
4:18
Speaker 1: where it's been successful. That's the whole problem. All right.
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Speaker 1: back in history, when the government comes in and the
6:39
Speaker 1: government says we're going to control prices, the sectors that
6:45
Speaker 1: they're trying to control the price on, they just disappear.
6:49
Speaker 1: David Brooks, by the way, came out. He was on
6:52
Speaker 1: PBS News Hour. Now PBS News Hour is not watched
6:55
Speaker 1: by a lot of people, but he said something that
6:57
Speaker 1: was very important back in August. I think everybody should
7:00
Speaker 1: listen to it.
7:02
Speaker 3: And David, on this matter of economic policy, the Vice
7:04
Speaker 3: President is also proposing the first ever ban on price
7:08
Speaker 3: gouging for groceries. This is something I know you too
7:10
Speaker 3: a particular issue with. It pulls well with swing voters,
7:13
Speaker 3: but economists say the underlying reasons why prices are higher,
7:17
Speaker 3: it's a more complicated argument.
7:19
Speaker 4: Yeah, I mean, she has some good policies in this package.
7:21
Speaker 4: I think the Child's Act credit is a good thing.
7:24
Speaker 4: She wants to deregulate housing so we can get more homes,
7:27
Speaker 4: but the price gouging is just well. Katherine Rampell, a
7:30
Speaker 4: Washington Post columnist, a News Hour contributor, said it's impossible
7:34
Speaker 4: to exaggerate how bad this policy is, and I agree
7:36
Speaker 4: with that. And Catherine had a good line that if
7:39
Speaker 4: your opponent is calling you a communist, maybe don't lead
7:41
Speaker 4: with price controls. And so price controls just create shortages
7:45
Speaker 4: that create black markets. We've seen it happen in Venezuela.
7:47
Speaker 4: We've seen it happen in Soviet Union. Price controls just
7:50
Speaker 4: don't work. What's worse about that, First, it's trying to
7:54
Speaker 4: address a problem that does not exist. Price grocery prices.
7:58
Speaker 4: Inflation has been less than one percent for the past year.
8:02
Speaker 4: It's over. We had a surge, but it's over. The
8:05
Speaker 4: problem does not exist. But the real core problem is
8:08
Speaker 4: that expresses a level of economic illiteracy, which is kind
8:11
Speaker 4: of surprising in a responsible democratic candidate. You know, the
8:16
Speaker 4: idea behind greed inflation is that we had all these
8:18
Speaker 4: years of low inflation under Obama under bushes, and I
8:21
Speaker 4: guess people weren't greedy then, and then Biden gets in
8:24
Speaker 4: and suddenly, magically they all get greedy and stite price scougen,
8:28
Speaker 4: and they do it at Kroger's, at Harris Teeter, at
8:30
Speaker 4: H ANDP. Suddenly there's this mass of price scougen, and
8:33
Speaker 4: she thinks she can prosecute it. That's not why inflation surged.
8:37
Speaker 4: Inflation surge because we had a pandemic which screwed up
8:39
Speaker 4: supply chains and productivity. Then the Biden administration overstimulated the
8:44
Speaker 4: economy too many dollars chasing too few goods. Obama administration
8:48
Speaker 4: officials Larry Summer and Jason Furman said at the time,
8:50
Speaker 4: this is going to cause inflation low and behold it did.
8:53
Speaker 4: The Fed has to clamp down on growth, raising everybody's
8:56
Speaker 4: interest payments. That's what caused inflation. That's solid basic economic
9:00
Speaker 4: Her gre inflation plan is somewhere off outside of normal economics.
9:04
Speaker 1: What outside of normal economics? David Brooks, by the way,
9:09
Speaker 1: not a hardcore conservative on PBS telling you that this
9:16
Speaker 1: is a catastrophe. This is what we have seen in
9:20
Speaker 1: Venezuela and the Soviet Union. Price controls do not work.
9:24
Speaker 1: What is worse about that? First is addressing a problem
9:26
Speaker 1: that does not exist. He says, grocery prices inflation have
9:29
Speaker 1: been less than one percent for the past year. It's over.
9:31
Speaker 1: He may be right, by the way we've had a surge.
9:34
Speaker 1: The surge is still here, but it's not still surging.
9:36
Speaker 1: It's over. He said. The problem does not exist, but
9:40
Speaker 1: the core problem is an express a level of economic
9:44
Speaker 1: illiteracy that is surprising in a responsible democratic candidate. I
9:52
Speaker 1: have to disagree with him there. I don't think it's
9:55
Speaker 1: that Kamala Harris doesn't understand it. I think Kamala harre
10:00
Speaker 1: Us is a socialist and that's what she wants. So
10:05
Speaker 1: when you are a socialist, right, when you are a socialist,
10:13
Speaker 1: you advocate support socialist ideas, you advocate, you support socialist
10:22
Speaker 1: agenda items because you want it to be a socialist country.
10:28
Speaker 1: She does not believe in a democracy. She does not
10:33
Speaker 1: believe in freedom of speech, freedom of expression, she does
10:37
Speaker 1: not believe in any of those things. She believes in
10:42
Speaker 1: something totally different. It is called socialism. And when she
10:46
Speaker 1: starts advocating for it, believe her. Let me also go
10:52
Speaker 1: back to something else, that was said in this comment
10:56
Speaker 1: by David Brooks on PBS. Quote the idea behind greed inflations.
11:02
Speaker 1: We had all those years of low inflation. I guess
11:04
Speaker 1: people were not greedy. Then then magically they all get
11:07
Speaker 1: greedy and start price gouging at Kroger, Harris, Teeter, agb
11:11
Speaker 1: and there's this massive price gouging. That's not why inflation surge,
11:15
Speaker 1: he said. Inflation surge because of the pandemic, which screwed
11:19
Speaker 1: up supply chain and proactivity. The Biden administration overstimulated the economy.
11:23
Speaker 1: Larry Summers and Jason Furman said at the time, this
11:28
Speaker 1: will cause inflation. Lo and behold it did. These are
11:32
Speaker 1: the people that are running our government now that said this.
11:35
Speaker 1: The FED has to clamp down on growth, right, which
11:37
Speaker 1: is the cause, which is what causes inflation. That is
11:43
Speaker 1: basic economics. He goes on to say, her greedflation plan
11:47
Speaker 1: is somewhere outside of normal economics, normal economics. He's absolutely right.
11:55
Speaker 1: Now you can say Kama Harris is an idiot, and
11:59
Speaker 1: that can be how you explain it, right, like Kalmaher's
12:03
Speaker 1: is an idiot and she doesn't understand basic and you know,
12:07
Speaker 1: economic issues and inflation or you can say she knows
12:11
Speaker 1: exactly what she's doing and she just is a communist.
12:20
Speaker 1: I believe that she is a communist. Okay, that's that's
12:24
Speaker 1: just what I believe, not because I might thinking or guessing. Okay,
12:30
Speaker 1: I think she is a communist because she says she's
12:33
Speaker 1: a communist that believes in communist ideas. Her proposals are communists.
12:39
Speaker 1: Her proposals are communist ideas. Her her proposals are ideas
12:45
Speaker 1: that communists implements. So we don't need to apologize on
12:51
Speaker 1: her behalf. The media doesn't it need to apologize on
12:59
Speaker 1: her half. The media needs to understand that she is
13:06
Speaker 1: a person that is actually what I just described. She
13:10
Speaker 1: is a person that is a communist who believes in
13:14
Speaker 1: communists ideals. And by the way, David Brooks wasn't the
13:18
Speaker 1: only one that was warning people about how absurd this was.
13:21
Speaker 1: Haikim Jeffries was asked about it the Harris Economic Agenda.
13:25
Speaker 1: Hakim Jeffries is one of the guys. It's you know,
13:27
Speaker 1: he's the leader of the Democratic Party. He even understands
13:30
Speaker 1: that you can't just walk out there and tell people
13:32
Speaker 1: you are in favor of communism. So what do you do.
13:35
Speaker 1: He says, Oh, I haven't heard the plan. He just
13:37
Speaker 1: straight applied to the American people on CNBC.
13:39
Speaker 5: Listen carefully, let me ask you about just price controls.
13:42
Speaker 6: And you know, you.
13:45
Speaker 5: Studied economics, you know how these things work. In the past,
13:49
Speaker 5: that has not been the most.
13:50
Speaker 6: Effective way to do things.
13:53
Speaker 5: And you know, to blame a lot of the current
13:56
Speaker 5: inflation on corporate creed. For forty years, inflation didn't reach
14:01
Speaker 5: the levels that we.
14:02
Speaker 1: Saw from a couple of years ago.
14:04
Speaker 5: So it's just hard for people to understand how the
14:07
Speaker 5: price gouging. The corporations were unable to do it for
14:12
Speaker 5: forty years, and then suddenly they started doing it a
14:16
Speaker 5: couple of years ago, right when President Biden took office,
14:20
Speaker 5: and that that is largely responsible for the inflation that
14:24
Speaker 5: we saw.
14:25
Speaker 1: Why wasn't why suddenly did it?
14:27
Speaker 7: Were corporations able to do that?
14:28
Speaker 5: Leader Jeffer, Why hadn't they done it all along? If
14:31
Speaker 5: they were greedy and profit mongers and everything else.
14:36
Speaker 8: First of all, I haven't heard Vice President Harris talk
14:39
Speaker 8: about price controls. She's talked about making sure that there's
14:44
Speaker 8: no price gouging that takes place, so that we have
14:48
Speaker 8: a properly functioning market where consumers have the ability to
14:55
Speaker 8: purchase the goods that they need at a fair market
14:59
Speaker 8: based price without any unlawful activity that occurs. This should
15:04
Speaker 8: not be a controversial thing from the standpoint of wanting
15:08
Speaker 8: to make sure that we are lowering costs, allowing corporations
15:13
Speaker 8: and companies to function in the context of a properly regulated,
15:18
Speaker 8: market based economy. But we are driving down the high
15:22
Speaker 8: price of things like life saving prescription drugs, making sure
15:26
Speaker 8: that people can afford groceries because there are millions of
15:29
Speaker 8: Americans who are struggling to live paycheck to paycheck.
15:34
Speaker 6: That should not be the case.
15:36
Speaker 8: In America, the richest country in the history of the world.
15:41
Speaker 8: And we're going to try to lower costs, grow the
15:46
Speaker 8: middle class, and make sure that there's an economy that
15:50
Speaker 8: works for hard working American taxpayers. That's not too controversial
15:56
Speaker 8: in the communities that I spend time in all across
15:59
Speaker 8: the nation.
16:01
Speaker 1: I mean, that's one of the biggest bs, just total
16:04
Speaker 1: crap answers ever. But that's the guy who's running the house,
16:07
Speaker 1: and he's like, well, look, I haven't heard VP Harris
16:10
Speaker 1: talk about price controls. He's trying to run away from
16:13
Speaker 1: it because he understands just how damning it is. It's damning.
16:20
Speaker 1: I mean, that's what this is. Larry Kudlow explaining it
16:24
Speaker 1: this way on Fox Warning America.
16:27
Speaker 9: I can imagine your take, but let me have it.
16:30
Speaker 9: Thanks for having me, Brett. I appreciate it. Look, this
16:34
Speaker 9: is price controls by any other name. I mean, it's
16:39
Speaker 9: like a sheep in sheep's clothing. It's price controls because
16:41
Speaker 9: it's price controls. But here's the thing. I mean, we
16:44
Speaker 9: know how bad that turned out for Nixon. Price control
16:47
Speaker 9: has never worked in Russia, Soviet Union, Venezuela, or Cuba.
16:52
Speaker 9: They never work. They cause shortages, they cause black markets,
16:56
Speaker 9: and eventually they cause higher prices because the control are
17:00
Speaker 9: lifted because people are yelling about shortages. But no one
17:04
Speaker 9: really knows what she means by price gouging. There's no definition.
17:09
Speaker 9: There's a lot of blah blah blah in the rule
17:11
Speaker 9: in their announcement about rules and the Federal Trade Commission, well,
17:16
Speaker 9: the Federal Trade Commission has tried a bunch of cases
17:19
Speaker 9: about price gouging or so called corporate greed, and they've
17:23
Speaker 9: lost them all Over the past three and a half years,
17:27
Speaker 9: and one more thing I just look at I mean,
17:29
Speaker 9: she's miss Harrison yelling about beef producers, I guess, and
17:35
Speaker 9: poultry producers and grocery stores. So I looked at their
17:39
Speaker 9: corporate margins. Are they making any money? I mean, if
17:43
Speaker 9: they're gouging somebody bread, they must be enormously profitable, and
17:47
Speaker 9: they are not. Okay, the grocery stores profit margins one
17:53
Speaker 9: point two percent, meat, beef, and poultry four point seven percent,
17:59
Speaker 9: all of them American business eight point five percent. Look,
18:02
Speaker 9: you should if she wants to go after somebody for
18:05
Speaker 9: making too much money, uh, here's what Apple twenty six percent,
18:10
Speaker 9: Microsoft thirty six percent, Navidia fifty three percent. You see
18:15
Speaker 9: where I'm going on this. There's no case to be made.
18:18
Speaker 9: No one knows what it is, but it's bad. If
18:21
Speaker 9: it ever worked, it would be bad.
18:23
Speaker 1: I go back to what he said there about the numbers,
18:26
Speaker 1: and this matters. If you're if they are gouging somebody,
18:30
Speaker 1: then that's one thing, but they're not. Grocery store profit
18:34
Speaker 1: margin is one point two percent, the meat, beef, and
18:39
Speaker 1: poultry four point seven all of American businesses average eight
18:43
Speaker 1: point five. She wants to go after somebody for making
18:46
Speaker 1: too much money. Here's who she should go after. You
18:48
Speaker 1: want to go to price causing Apple is twenty six percent,
18:51
Speaker 1: Microsoft thirty cents, Navida fifty three percent. But see those people,
18:58
Speaker 1: they haven't made into a boogeyman, right, because no one's
19:01
Speaker 1: really complaining about the iPhone costs because you don't have
19:04
Speaker 1: to buy an iPhone every day. You gotta buy groceries
19:07
Speaker 1: like every day or every couple of days. You get
19:11
Speaker 1: my point. It's a regular thing, like you're getting groceries
19:13
Speaker 1: on the regular, folks. And so that's the reason why
19:19
Speaker 1: she's saying, we'll just do price control, even though everybody
19:24
Speaker 1: knows that it's not going to work. That understands capitalism,
19:28
Speaker 1: that understands free markets, and everybody knows it's never worked anywhere.
19:34
Speaker 1: Everybody knows it's been a disaster everywhere. Yet here she
19:39
Speaker 1: is out there still saying it running. You vote for me,
19:43
Speaker 1: and I'm going to mandate that they sell you milk
19:46
Speaker 1: for a dollar, that they sell you eggs for a dollar,
19:49
Speaker 1: they sell your bread for a dollar. Well, when there's
19:52
Speaker 1: no eggs or milk or bread left and you're sitting
19:54
Speaker 1: there in the line begging for food, you're gonna know
19:57
Speaker 1: who's fault it is. It's your fault. I want to
20:00
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20:03
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21:35
Speaker 1: go back to the day the Kama Harris came out
21:40
Speaker 1: with this communist price control plan. David Asman, who's on Fox,
21:44
Speaker 1: he's a Fox Business anchor. He was on Fox News
21:47
Speaker 1: channel right after she said it, and even he was
21:50
Speaker 1: like in shock, like and by the way, when I
21:53
Speaker 1: was watching this, I was in shock because I couldn't
21:56
Speaker 1: believe that she would actually advocate for this, that she
21:59
Speaker 1: would support.
22:00
Speaker 10: So, you know, big applause lines, one of them that
22:06
Speaker 10: twenty five thousand dollars for your non payment for your
22:09
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22:11
Speaker 10: for being given twenty five thousand dollars from the government.
22:14
Speaker 1: Especially if there's no price tag.
22:17
Speaker 7: I mean, they've worked out a kind of a price tag,
22:19
Speaker 7: but nobody believes it.
22:20
Speaker 10: Yeah, I would just point out before you take it
22:22
Speaker 10: away that you know, when the government gives someone twenty
22:25
Speaker 10: five thousand dollars, it's coming from tax payer money. There's
22:28
Speaker 10: only one source of income for the government, and it's
22:30
Speaker 10: the money that you make in your job and everyone
22:33
Speaker 10: else makes in their jobs. That goes and then the
22:35
Speaker 10: government decides this person's going to get your money or
22:37
Speaker 10: that person's going to get your money.
22:39
Speaker 7: And if you think federal grants will keep prices down,
22:42
Speaker 7: just look what happened to student loans. Whenever the student
22:45
Speaker 7: loan was forgiven, the tuition keeps going up. It kind
22:49
Speaker 7: of elevates price levels rather than get some under control.
22:52
Speaker 7: And right now, that's the price that's the problem that
22:54
Speaker 7: we have, or the prices of homes, and they are
22:57
Speaker 7: so expensive because there's a limited inventory. The last thing
23:01
Speaker 7: you need is to increase the shortage of houses by
23:04
Speaker 7: price controls. And remember she was not only talking about
23:07
Speaker 7: price controls on food, but also price controls on rent,
23:11
Speaker 7: federal price controls that's usually controlled by the local government.
23:15
Speaker 4: She wants to make it.
23:15
Speaker 7: A federal issue. The bottom line is what we are
23:19
Speaker 7: seeing here is a massive pivot to the left on
23:22
Speaker 7: economic policy. She was trying the questions about whether she
23:25
Speaker 7: would remove herself or move herself away from Bidenomics. Nobody
23:29
Speaker 7: expected her to move much further to the left. He
23:32
Speaker 7: never suggested price controls. He kind of hinted that maybe
23:36
Speaker 7: that was the answer. He talked about price gouging, but
23:39
Speaker 7: this for the first time ever, a federal ban on
23:42
Speaker 7: price gouging on food.
23:44
Speaker 1: Food.
23:44
Speaker 7: By the way, the grocery industry has a profit margin
23:47
Speaker 7: of one point six percent it did in twenty twenty three.
23:50
Speaker 9: Compare that to Apple.
23:51
Speaker 7: Apple's price margin is over way over thirty percent.
23:57
Speaker 1: You can hear just the shock in his book right
24:00
Speaker 1: after she said it. And I even forgot about the
24:03
Speaker 1: twenty five thousand, Like when they're like, oh yeah, and
24:06
Speaker 1: we'll also give you twenty five thousand dollars to buy
24:08
Speaker 1: your first house. Wait what These are the same people
24:12
Speaker 1: also that will lie to you and tell you, oh yeah,
24:13
Speaker 1: and vote for us, and we're gonna pay for student loans.
24:16
Speaker 1: It's not gonna happen. It's unconstitutional and they've already ruled
24:19
Speaker 1: on it. But it doesn't matter. We'll just keep saying
24:21
Speaker 1: it anyway, because we believe there's enough dumb people out
24:24
Speaker 1: there that are willing to sit in poverty and vote
24:28
Speaker 1: for us over and over and over and over and
24:29
Speaker 1: over and over again, and just sit there in poverty,
24:33
Speaker 1: Just sit there in poverty and just say, sure, government,
24:40
Speaker 1: give me some cheese and I'll be happy. And just
24:45
Speaker 1: give me enough to survive and live in poverty and
24:48
Speaker 1: I'll be happy, and I'll vote for you every time.
24:50
Speaker 1: That's what they're asking for. They want you to be dependent,
24:55
Speaker 1: completely and utterly dependent on them. That is the ball.
25:01
Speaker 1: That's the whole ball game. There's nothing else like. That's it.
25:06
Speaker 1: That's the whole thing. It's the whole conversation. That's all
25:10
Speaker 1: of it. Folks, and anyone that doesn't understand that you're
25:14
Speaker 1: not listening to what they're telling you, you're not listening
25:18
Speaker 1: to just how dangerous this is. I would love to
25:23
Speaker 1: always go into a grocery store and know two things.
25:25
Speaker 1: One I'm gonna have groceries and options, and two I'm
25:29
Speaker 1: gonna have a hell of a lot of options. That's like,
25:32
Speaker 1: that's it. I just want to know that when I
25:36
Speaker 1: walk into a grocery store, it's gonna be okay, that
25:40
Speaker 1: I'm not gonna have to sit here and beg for
25:44
Speaker 1: food like bidnomics has destroyed this country. You know, you
25:51
Speaker 1: want to talk about the price of food. What's next?
25:53
Speaker 1: You're gonna do costs mandates on restaurants that they must
25:57
Speaker 1: sell you at a cheese pizza at a certain price,
26:00
Speaker 1: and if it goes over that, they're not allowed to
26:02
Speaker 1: do it, because that's what would be next. Right, Oh,
26:05
Speaker 1: you want chicken palm? Yeah, here's the only price that
26:07
Speaker 1: you got to you're allowed to to. Can't go over this.
26:10
Speaker 1: Food prices of skyrocket in this country. You are already
26:14
Speaker 1: gonna do. Just put a max dollar amount on a
26:17
Speaker 1: six count of nuggets a Chick fil A and tell
26:20
Speaker 1: Chick fil A you can't go over it. And then
26:21
Speaker 1: when all of a sudden they have to, they just
26:22
Speaker 1: shut every restaurant down because they have no other option
26:28
Speaker 1: because it can't be open losing money every single day.
26:32
Speaker 1: There is a cause and effect here, Like, that's the
26:36
Speaker 1: other part of this that I think really people need
26:38
Speaker 1: to understand. There is a legitimate cause and effect, a
26:43
Speaker 1: very real, a very legitimate cause and effect aspect of
26:47
Speaker 1: all of this. Let me also play for you an
26:50
Speaker 1: example of summer food costs, and this is restaurants. This
26:54
Speaker 1: is a local news report out of Philadelphia, right, Pennsylvania
26:58
Speaker 1: Swing state important swings and listen to their warning.
27:02
Speaker 11: Some eatery employees tell us they've had to increase the
27:05
Speaker 11: prices on their menu because they're getting charged more from
27:09
Speaker 11: their suppliers.
27:10
Speaker 1: Not my fault, you know, buy high with ouhi.
27:13
Speaker 11: You know that's led to fewer diners.
27:15
Speaker 1: People don't spend any money. They're tied on the pocket,
27:18
Speaker 1: you know what I mean.
27:18
Speaker 11: They'll wait, they look how much, how much?
27:20
Speaker 1: You know, they wait for the you know, the price
27:23
Speaker 1: a little high.
27:24
Speaker 11: People say they've also noticed the pinch. Buying food to
27:26
Speaker 11: go on the Ocean City Boardwalk.
27:28
Speaker 2: Has definitely gotten way more expensive than it used to be.
27:31
Speaker 8: I mean, we've been coming down here for a few
27:33
Speaker 8: years now, and makes it kind of hard to want
27:35
Speaker 8: to even come down here because prices get so crazy.
27:38
Speaker 11: If you think you'll save money by buying groceries, you
27:40
Speaker 11: may find out that's not the case.
27:43
Speaker 1: Very very, very expensive.
27:45
Speaker 11: Mary Walsh says she's noticed high prices at her local
27:48
Speaker 11: grocery store in Ocean City as she's getting ready to
27:51
Speaker 11: host a Fourth of July party.
27:53
Speaker 1: You go in One bag is one hundred dollars.
27:56
Speaker 11: Our six ABC data journalism team found most of the
27:59
Speaker 11: holiday food it's have increased in price since last summer,
28:02
Speaker 11: with the largest rises among meat products. Hot Dogs are
28:06
Speaker 11: up seven point three percent, ground beef up four point
28:09
Speaker 11: nine percent, beer three percent, and ice cream one percent.
28:15
Speaker 11: The owner of Yanni's Cafe says he's trying to help
28:17
Speaker 11: keep dining costs stay low.
28:19
Speaker 12: We don't.
28:22
Speaker 2: They charge.
28:22
Speaker 11: He adds being a year round business also helped stabilize costs.
28:26
Speaker 4: We stay open year round, and that's why you open.
28:29
Speaker 2: We busying the witta tanto.
28:32
Speaker 1: So what are you going to do next, Kamala? Are
28:34
Speaker 1: you going to tell that guy must sell his food
28:38
Speaker 1: for less than what it costs him to make it.
28:42
Speaker 1: What's going to happen there? I want to know. I
28:46
Speaker 1: want to know. Somebody explain that to me. David Axerod right,
28:52
Speaker 1: one of the guys that helped get to where we are.
28:55
Speaker 1: What does he say about the dinner table?
28:57
Speaker 6: Well, look, I think today it made sense. When Trump
28:59
Speaker 6: was returning to the Capitol after what twelve hundred and
29:02
Speaker 6: fifty four days or whatever it was, you know, twelve
29:05
Speaker 6: hundred and fifty four days after he sent a mob
29:08
Speaker 6: rampaging through that building, I think it was an appropriate
29:13
Speaker 6: time to raise this. I will see how extensively they
29:17
Speaker 6: use that ad. Look I've said before, I mean, I'm Jake,
29:21
Speaker 6: you know this. I'm the son of a Jewish refugee
29:25
Speaker 6: from Eastern Europe, and I so love this democracy and
29:29
Speaker 6: I think this is a central concern. But I've also said,
29:34
Speaker 6: if you are talking about democracy over the dinner table,
29:37
Speaker 6: it's probably because you're don't have to worry about the
29:40
Speaker 6: cost of the food on your dinner table.
29:42
Speaker 1: That might be the weirdest thing I've ever heard said
29:45
Speaker 1: ever by David Ax. If you're talking about democracy over
29:50
Speaker 1: the dinner table, it's probably because you don't have to
29:52
Speaker 1: worry about the cost of food on your dinner table.
29:56
Speaker 1: So what is the point you're making here? You're saying
29:59
Speaker 1: that the America people don't need to worry about the food,
30:02
Speaker 1: or they don't need to worry about democracy, or are
30:04
Speaker 1: you saying we should just get rid of democracies and
30:06
Speaker 1: you don't have to worry about food costs?
30:08
Speaker 11: Like?
30:09
Speaker 1: Which one is it? Let's go back to local TV.
30:12
Speaker 1: How about New Orleans. Listen to this coming out of
30:15
Speaker 1: a local news station wvu E TV Fox eight, New Orleans.
30:20
Speaker 9: People aren't focused on CPI they're focused on at the
30:24
Speaker 9: grocery store.
30:24
Speaker 12: Food costs more than it used to. Yeah, and we're
30:27
Speaker 12: not seeing it come down. We're not seeing it come down.
30:29
Speaker 12: It costs more for wages of food and for owners
30:32
Speaker 12: to run their companies right now, right now. So if
30:35
Speaker 12: that's not coming down, people are not really feeling the
30:37
Speaker 12: effects of it now. I do think they'll start lorne
30:39
Speaker 12: interest rates, but not till late.
30:41
Speaker 1: So at least on local news, they seem to be
30:45
Speaker 1: honestly covering this somewhat accurately. They're like, look, the American
30:50
Speaker 1: people are like, I mean, they're struggling right now. It's expensive.
30:53
Speaker 1: It costs a lot of money. Like, it's not cheap, folks, Like,
30:57
Speaker 1: it's real. It's costing some cash. Yeah, it is. You're
31:02
Speaker 1: absolutely right, it's costing a lot of cash. Don't forget
31:06
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31:13
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