Senator Elizabeth Warren (D-MA) appeared on CNBC to support Vice President Kamala Harris’ policy proposal of imposing price controls – though they and their ilk prefer expressions like “preventing price gouging.” Parroting other Democratic lawmakers and left-leaning talking heads, Warren claimed corporate profit margins support the price-gouging-fueled-inflation debate. But is this the case, or is it a desperate attempt to mask the true causes of inflation?
Warren Fights CNBC on Price Gouging
Warren engaged in a heated exchange with CNBC host Joe Kernen on August 23, sparring over the Democratic nominee’s pledge to prohibit price gouging if elected in November. Warren called it a public policy mechanism to ensure markets “are more competitive,” adding that “We just want to put one more tool in the toolbox when CEOs are going on the phone saying, ‘Boy, inflation is great because it gives us a chance to raise our prices.’”
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Kernen was not having any of it, calling the Harris proposal a “fool’s errand” and a measure that diverts attention away from real issues. He noted that there is “little evidence” that supposed price gouging has fueled inflation over the last three-plus years or that it’s keeping inflation sticky and stubborn. Warren disagreed, claiming that profit margins are proof that greedflation is real. “And how do we know that it was way, way above just passing along costs? Look at what happened to their profit margins,” she said. […]
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