Ask anybody and they will tell you why things are so expensive these days. Joe Biden’s terrible policies have created a cascade of problems. Inflation isn’t the only thing making prices too high. Biden refused to probably address the supply chain crisis, which should have been solved months ago. That also is contributing to higher prices, as businesses are having a harder time getting goods onto store shelves.
In addition to this, Biden is working overtime to kill our energy industry. He is refusing to lease federal land for drilling oil. In addition, he has hit energy producers with costly regulations. All of this has resulted in dramatically high energy prices, making the cost of doing business all that higher.
Yet Democrats refuse to take responsibility for this problem, blaming companies—believe it or not—for “price gouging.” Yeah, that’s real leadership: blame someone else for your problems. Their solution? Pass laws preventing price gouging. But even an Obama official is crying foul.
Former economic advisor to the Obama administration Jason Furman slapped down Democrats’ pushing of anti-price gouging bills in Congress, saying these types of bills will not do much to bring down inflation and may even increase shortages…
“I think it is pretty gimmicky, these price gouging bills, because you know, you’ve got a lot of extra demand,” Furman said. “What happens when demand goes up? Prices go up.” […]
“There is an old saying, the cure for high prices is high prices,” Furman said. “That’s a little bit of a painful thing to deal with, but it is what elicits the additional supply, it brings more producers into the market, and it is what brings prices down.”
“We need to let that process work,” the economist continued. “You try to interfere with it, you are going to make things worse. We tried that in the seventies, it was a big failure. We shouldn’t be repeating it again.” [Fox News]
How dumb do you have to be that an Obama official knows better than you? Jason Furman is criticizing Democrats’ “anti-gouging” bills saying at best they’ll do nothing and at worst, they’ll make the problem worse.
Furman, proving Democrats have no clue how the economy works, explained that once supply gets back up, prices will go down. Biden is prolonging this problem by making it hard for businesses to increase supply (thanks to the broken supply chain and high fuel prices). But Democrats seem to think that if you force companies not to charge high prices, that will fix everything!
“Hey, greedy companies! Stop trying to make a profit and keep your doors open! There, fixed it everyone!”
Furman warned that Democrats under Carter tried to do that in the 70s and guess what? It didn’t work. Inflation and other economic problems persisted. And it was only until Carter and his goons were voted out of office—and Reagan took over—did things get better.
Do we have to wait until 2024 until we can actually afford stuff? Looks that way.
Author: Jim Stone