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2024-08-17 18:35:19 UTC
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https://www.zerohedge.com/markets/kamalanomics-blowback-begins-food-prices-hit-record-highs
Kamalanomics Blowback Begins As Food Prices Hit Record Highs
by Tyler Durden
Friday, Aug 16, 2024 - 05:40 PM
"KamalaCosts" and "Kamalanomics" are trending on X on Friday afternoon
as Vice President Kamala Harris unveiled her strategy to address the
crushing economic environment faced by the working poor and middle class
during her tenure as vice president in the Biden administration.
Recall that VP Harris was the biggest 'Bidenomics' cheerleader.
It makes very little sense why VP Harris has recently admitted at
campaign rallies there's an ongoing inflation storm and affordability
crisis, yet it appears she is throwing President Biden under the bus.
However, she is second in command and trying to deflect accountability
for nation-killing, out-of-control government spending that stoked the
inflation storm.
Americans are beyond frustrated with inflation that the Biden-Harris
administration has fueled over the past 3.5 years while VP Kamala Harris
travels across the country, avoiding 'unscripted' press conferences and
trying to convince voters at highly scripted campaign rallies that she's
not responsible.
"She's Literally Running Against Herself": VP Kamala Harris Admits
Families Hit By 'Cost Of Living' Crisis
After stealing former President Trump's proposed 'no tax on tips' plan,
the geniuses behind VP Harris' campaign thought it would be brilliant to
introduce communist-style government price controls on grocery stores
and food companies as their first major economic policy. The move was a
complete disaster, and even the leftists at the Washington Post pointed
out that it was a poor policy choice...
"If your opponent claims you're a "communist," maybe don't start with an
economic agenda that can (accurately) be labeled as federal price controls."
Investment analyst Lyn Alden pointed out on X that grocery stores like
Kroger have "razor-thin profit margins." So the whole 'corporate price
gouging' narrative by Harris' team is just 'malarkey.'
Producers of food products have similar margins in the low double-digit
range.
House Republicans reminded folks on X today about the sour subject of
Biden-Harris' food price inflation crisis:
Others pointed out that 'Kamalanomics' is just an extension of
'Bidenomics' and focused on the massive food price surges.
Meanwhile, the latest data shows burger prices at the supermarket are at
record highs.
Urner Barry wholesale data shows egg prices are erupting again.
VP Harris had 3.5 years to save the middle class - yet she focused on
wokeism and failed at her 'Border Czar' job.
Food prices have yet to come back down to Earth.
The latest US CPI Food Prices At-Home index is up 21% since Biden-Harris
entered office, while wages for the working poor and middle class are
only up 19.8%.
Food prices at home rose 6.5% during Trump's term (+1.6% p.a.). During
Biden's term, food prices at home were up over 21% (+5.5% p.a.).
"Inflation is experienced at the grocery store, but always manufactured
by the government. It's the same story every time. The politicians who
create it by printing money, villainize and blame companies that have
nothing to do with it — to distract from their reckless spending,"
Cameron Winklevoss wrote on X.
The angle the Trump campaign appears to be taking is to hammer VP Harris
and Democrats for their mismanaging of the economy that has financially
decimated the working poor and middle class."
Indeed!
And these shameless collectivists want to NATIONALIZE food - that is
pure Obama COMMUNISM!
https://www.zerohedge.com/markets/kamalanomics-blowback-begins-food-prices-hit-record-highs
Kamalanomics Blowback Begins As Food Prices Hit Record Highs
by Tyler Durden
Friday, Aug 16, 2024 - 05:40 PM
"KamalaCosts" and "Kamalanomics" are trending on X on Friday afternoon
as Vice President Kamala Harris unveiled her strategy to address the
crushing economic environment faced by the working poor and middle class
during her tenure as vice president in the Biden administration.
Recall that VP Harris was the biggest 'Bidenomics' cheerleader.
It makes very little sense why VP Harris has recently admitted at
campaign rallies there's an ongoing inflation storm and affordability
crisis, yet it appears she is throwing President Biden under the bus.
However, she is second in command and trying to deflect accountability
for nation-killing, out-of-control government spending that stoked the
inflation storm.
Americans are beyond frustrated with inflation that the Biden-Harris
administration has fueled over the past 3.5 years while VP Kamala Harris
travels across the country, avoiding 'unscripted' press conferences and
trying to convince voters at highly scripted campaign rallies that she's
not responsible.
"She's Literally Running Against Herself": VP Kamala Harris Admits
Families Hit By 'Cost Of Living' Crisis
After stealing former President Trump's proposed 'no tax on tips' plan,
the geniuses behind VP Harris' campaign thought it would be brilliant to
introduce communist-style government price controls on grocery stores
and food companies as their first major economic policy. The move was a
complete disaster, and even the leftists at the Washington Post pointed
out that it was a poor policy choice...
"If your opponent claims you're a "communist," maybe don't start with an
economic agenda that can (accurately) be labeled as federal price controls."
Investment analyst Lyn Alden pointed out on X that grocery stores like
Kroger have "razor-thin profit margins." So the whole 'corporate price
gouging' narrative by Harris' team is just 'malarkey.'
Producers of food products have similar margins in the low double-digit
range.
House Republicans reminded folks on X today about the sour subject of
Biden-Harris' food price inflation crisis:
Others pointed out that 'Kamalanomics' is just an extension of
'Bidenomics' and focused on the massive food price surges.
Meanwhile, the latest data shows burger prices at the supermarket are at
record highs.
Urner Barry wholesale data shows egg prices are erupting again.
VP Harris had 3.5 years to save the middle class - yet she focused on
wokeism and failed at her 'Border Czar' job.
Food prices have yet to come back down to Earth.
The latest US CPI Food Prices At-Home index is up 21% since Biden-Harris
entered office, while wages for the working poor and middle class are
only up 19.8%.
Food prices at home rose 6.5% during Trump's term (+1.6% p.a.). During
Biden's term, food prices at home were up over 21% (+5.5% p.a.).
"Inflation is experienced at the grocery store, but always manufactured
by the government. It's the same story every time. The politicians who
create it by printing money, villainize and blame companies that have
nothing to do with it — to distract from their reckless spending,"
Cameron Winklevoss wrote on X.
The angle the Trump campaign appears to be taking is to hammer VP Harris
and Democrats for their mismanaging of the economy that has financially
decimated the working poor and middle class."
Indeed!
And these shameless collectivists want to NATIONALIZE food - that is
pure Obama COMMUNISM!