Dave Ramsey explains why Kamala Harris'
price control plan will not curb inflation:
'It's not sustainable'
Fox News,
by
Staff
Original Article
Posted By: Moritz55,
8/16/2024 11:51:05 AM
Personal finance expert Dave Ramsey joined "The Ingraham Angle" to explain why VP Kamala Harris' economic plan will not work. Ramsey reacted to the Democratic presidential nominee's proposal to implement federal price controls in order to stop "price gouging" on groceries. DAVE RAMSEY: It's not sustainable because it's artificial. If you just put a lid on something and if you want to explore what really happens, just go back to the 1970s. We tried it. There was a whole movement for price controls across everything, because inflation was out of control and rampant, just like it is now.
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Reply 1 - Posted by:
Ashley Brenton 8/16/2024 12:00:18 PM (No. 1779121)
There is something insidious about a government that pursues inflationary policy, but then propses to stop businesses from making adjustments to compensate for the inflation.
15 people like this.
Reply 2 - Posted by:
Dodge Boy 8/16/2024 12:16:24 PM (No. 1779136)
Warming over previously tried price controls was a miserable failure. Unfortunately, it was Nixon who championed it in about 1970. And high inflation reared its ugly head, anyway.
13 people like this.
Reply 3 - Posted by:
Robert D 8/16/2024 12:32:00 PM (No. 1779143)
Wage and price controls and communism do not work. The mid 70's proved the wage and price controls did not work, but unless you are someone who long ago was in a gas line on an odd or even numbered day, you may not recall. The invisible hand works.
12 people like this.
Reply 4 - Posted by:
Lazyman 8/16/2024 12:42:06 PM (No. 1779153)
Stock up on toilet paper.
11 people like this.
Reply 5 - Posted by:
rikkitikki 8/16/2024 1:10:41 PM (No. 1779168)
The first result of every such price control, and is guaranteed to happen, is that the targeted commodity disappears...first becomes scarce, then completely unavailable.
The reason is that a retailer (e.g., grocery store, gasoline station, whatever) cannot stay in business if the govt mandates that they sell their products below cost.
12 people like this.
Reply 6 - Posted by:
rikkitikki 8/16/2024 1:15:08 PM (No. 1779170)
The dems never learn. I seem to recall that in Bill Clinton's first term, Hillary induced him to set a price control on some prescription med (I think it was an HIV vaccine)...in an ill-disguised attempt to placate the gay lobby.
On the day the price control was set, there were over 32 different companies manufacturing the vaccine.
One year later, only one manufacturer was still in business, and the vaccine had become very scarce.
No one but the US Govt can run a business at a loss...and inflation proves that even the US Govt will pay for that mistake.
10 people like this.
Reply 7 - Posted by:
Maggie2u 8/16/2024 1:39:24 PM (No. 1779177)
They never learn do they. I remember the last wage and price controls from the 70's. If I rummage through my old jewelry box I might find the pin they were handing out back then...WIN...Whip Inflation Now. A few years afterwards there were people who had been in Nixon's administration saying...'what were we thinking?' Wish I could remember who said that. I just googled to see if I could find out more about this and it was exactly 52 years ago today that Nixon put price controls in place.
9 people like this.
Reply 8 - Posted by:
philsner 8/16/2024 1:53:55 PM (No. 1779186)
Um, you don't need Ramsey for that. First check with Captain Obvious.
I can't believe Ramsey gets paid for repeating things a third grader knows.
3 people like this.
Reply 9 - Posted by:
downnout 8/16/2024 2:23:27 PM (No. 1779200)
#8, you would be amazed at the stupidity of a lot of people. It’s frightening.
10 people like this.
Reply 10 - Posted by:
DougTN 8/16/2024 2:31:35 PM (No. 1779201)
Democrats don’t give a hooey if price controls work. The Dems just know their slow constituents will accept it as an awesome achievement. Just talking about it gets the dumb and dumber vote. If implemented it will be the mean greedy corporations fault when it epically fails.
8 people like this.
Reply 11 - Posted by:
ronbet 8/16/2024 6:26:33 PM (No. 1779357)
Should Kamala Harris be allowed to lie and misinform people in this manner. Isn't there truth in advertising that should prevent this. Isn't this also election interference since it is all lies?
3 people like this.
Reply 12 - Posted by:
mifla 8/17/2024 4:54:54 AM (No. 1779567)
If it didn't work in Russia or Venezuela, it won't work here.
Even CNN says it is Marxist BS.
1 person likes this.
Reply 13 - Posted by:
crunchycon 8/17/2024 5:53:08 AM (No. 1779582)
#8, you would think, but no. I have two siblings who, by every empirical measurement are smarter than I am. We all went to excellent public schools back when they were genuinely excellent, so uneducated, we are not Yet both siblings, along with their lib spouses, will fall for this stuff hook, line, and sinker.
My rock-ribbed conservative parents (and their parents) only produced one conservative child and grandchild (who married an equally conservative Navy vet).
Dave Ramsey may be stating the obvious, but the message has to get out. If only he could get on channels outside of the “bubble”, but I don’t see that happening.
1 person likes this.
Reply 14 - Posted by:
lynngirl122 8/17/2024 9:39:46 AM (No. 1779702)
Not saying he's wrong but how is Dave Ramsey a finance "expert."
0 people like this.
Reply 15 - Posted by:
franq 8/17/2024 9:54:16 AM (No. 1779710)
Dave Ramsey is as much a financial expert as anyone, probably moreso because he takes a Biblical view.
1 person likes this.
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