Of course Kamanomics is an incoherent mess. Kamala Harris simply did a Ctrl-C/Ctrl-V on Bidenomics, which consists of nothing but incoherence and gimmicks. All Joe Biden and now Harris have in their repertoire to deal with the inflation they created through gimmicks are even more demand-side gimmicks, free cash rather than the bread and circuses of old.
Anyone with a few working brain cells can figure that out. That’s what makes yesterday’s blast from the Washington Post’s editorial board so surprising:
Vice President Kamala Harris’s speech Friday was an opportunity to get specific with voters about how a Harris presidency would manage an economy that many feel is not working well for them. Unfortunately, instead of delivering a substantial plan, she squandered the moment on populist gimmicks. …
One way to handle it might be to level with voters, telling them that inflation spiked in 2021 mainly because the pandemic snarled supply chains, and that the Federal Reserve’s policies, which the Biden-Harris administration supported, are working to slow it. The vice president instead opted for a less forthright route: Blaming big business. She vowed to go after “price gouging” by grocery stores, landlords, pharmaceutical companies and other supposed corporate perpetrators by having the Federal Trade Commission enforce a vaguely defined “federal ban on price gouging.”
Never mind that many stores are currently slashing prices in response to renewed consumer bargain hunting. Ms. Harris says she’ll target companies that make “excessive” profits, whatever that means. (It’s hard to see how groceries, a notoriously low-margin business, would qualify.) […]
– Read More: hotair.com
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