On the day word comes that Javier Milei, the libertarian economist turned President of Argentina, fixed that nation’s housing crisis by ending rent control, Kamala Harris proposed government command-control policies to fix price gouging.
Anything the government subsidizes, we will get more of (and not in a good way). When they subsidized student loans, universities and colleges just raised tuition accordingly, because they knew the government was backing that money no matter what. By giving $25K for a down payment, lenders will just require more of a down payment to ensure that the buyer has some skin in the game - this was part of the issue during the bursting of the subprime housing market. People who should never have been able to buy homes - because they didn't have the income to support or maintain them and were thus poor risks - were allowed to buy them anyway with help from government pressure on lenders to look the other way. None of this ever ends well and usually ends up with less supply and more demand, increasing price pressure.
This is Econ 101 and to Erick's point, Harris is utterly clueless.
Does the truth make a difference to “true believers?” Are they capable of “aha” moments? But Trump has to move the ones who might vote for her because they don’t want to vote for him, or they are looking for a reason to vote Trump. Enough truth can move the needle.
The US has a few examples of how rent control pricing always backfires. During WWII, there was a terrible shortage of available housing in major cities and in areas of war production. Rent control encouraged individuals to rent much larger units than necessary as they answered the call for wartime production labor. One or two people would rent apts & homes that would normally house 3, 4, or more individuals. After the war, when wage and price control policies stopped, the supply of rental units was more than adequate again.
I see the price and rent control initiatives more in a when-did-you-stop-beating-your-wife sort of way. That is, rather than directly confront the issue of inflation, Harris is pushing a policy proposal wherein corporate greed is assumed as having been the cause, thus subtly deflecting blame on a problem for which Biden/Harris might otherwise be held to account.
When the government upped student loans the university’s upped the tuition why wouldn’t the same thing happen with housing or food or rent or gas or electricity or medical care a commie is a commie a control freak is a control freak that is Kamala period
Good Job, more proof on this. California has rent controls in some cities. The end result is costs go up, but rent is the same. Soon they can not afford to fix their property and fewer rentals built. HOMELESS CRISIS AOUNDS. Ben Shapiro has an excellent expose on his podcast/The Daily Wire
Too many of the under 35 crowd have never been taught economics or money. They will not understand what you are saying here. They’ve already shown that with student loans, COVID money, buying the new IPhone when it comes out, etc. The public school system has done what it was designed for…dumbing down the young. Dumb people are easier to control.
And it is getting more easier each and every day as this Nation gets dumbed down more each day. This election will be the one and only one that can make the changes needed. Get out and VOTE.
as if reality can be legislated. But this is the crowd that thinks if it repeats a narrative often enough (regardless of its degree of truth) it will magically be so.
Let’s see … inflation is caused by the government pushing excess money into the economy so we will solve the inflation problem by pushing more money into the economy. Hahahaha. Now we know why Kamala has been so quiet about her policies.
These first two policy positions being put forth by the Harris campaign would ultimately kill the U.S. economy. Which leads to an even greater concern, the Harris campaign’s belief that this will be supported by the majority of Americans. Have we as a people become communists? Are we that stupid? Or is this a ticket that’s exposing itself as one that is radically unprepared to run a country. I trust the latter, but I’ve been surprised before.
Just where in the heck does Harris think she lives. If people are that ignorant about the democratic agenda and where they want to take this country, by all means go live in a communist, third world country but leave me the heck alone. I’d move to Texas in a heartbeat where they can secede from this insane asylum.
Harris, Walz, Dems--¡AFUERA!
Anything the government subsidizes, we will get more of (and not in a good way). When they subsidized student loans, universities and colleges just raised tuition accordingly, because they knew the government was backing that money no matter what. By giving $25K for a down payment, lenders will just require more of a down payment to ensure that the buyer has some skin in the game - this was part of the issue during the bursting of the subprime housing market. People who should never have been able to buy homes - because they didn't have the income to support or maintain them and were thus poor risks - were allowed to buy them anyway with help from government pressure on lenders to look the other way. None of this ever ends well and usually ends up with less supply and more demand, increasing price pressure.
This is Econ 101 and to Erick's point, Harris is utterly clueless.
Does the truth make a difference to “true believers?” Are they capable of “aha” moments? But Trump has to move the ones who might vote for her because they don’t want to vote for him, or they are looking for a reason to vote Trump. Enough truth can move the needle.
The US has a few examples of how rent control pricing always backfires. During WWII, there was a terrible shortage of available housing in major cities and in areas of war production. Rent control encouraged individuals to rent much larger units than necessary as they answered the call for wartime production labor. One or two people would rent apts & homes that would normally house 3, 4, or more individuals. After the war, when wage and price control policies stopped, the supply of rental units was more than adequate again.
I see the price and rent control initiatives more in a when-did-you-stop-beating-your-wife sort of way. That is, rather than directly confront the issue of inflation, Harris is pushing a policy proposal wherein corporate greed is assumed as having been the cause, thus subtly deflecting blame on a problem for which Biden/Harris might otherwise be held to account.
Bad policy, but good politics.
When the government upped student loans the university’s upped the tuition why wouldn’t the same thing happen with housing or food or rent or gas or electricity or medical care a commie is a commie a control freak is a control freak that is Kamala period
Well at least the bread lines should be shorter since so much of the world has gone Keto now.
Price controls and first-time home buyer stipends require legislation and another reason for conservatives to win the Senate
Good Job, more proof on this. California has rent controls in some cities. The end result is costs go up, but rent is the same. Soon they can not afford to fix their property and fewer rentals built. HOMELESS CRISIS AOUNDS. Ben Shapiro has an excellent expose on his podcast/The Daily Wire
Is it price gouging when every business raises their prices across the entire nation? No. Its inflation.
Side note: Compare profit margins from 2019 to profit margins from 2023. The percent of revenue that makes up profit has remained fairly consistent.
Too many of the under 35 crowd have never been taught economics or money. They will not understand what you are saying here. They’ve already shown that with student loans, COVID money, buying the new IPhone when it comes out, etc. The public school system has done what it was designed for…dumbing down the young. Dumb people are easier to control.
And it is getting more easier each and every day as this Nation gets dumbed down more each day. This election will be the one and only one that can make the changes needed. Get out and VOTE.
How could I be out of money I still have checks left? Back in the day when we still wrote checks.
What a moronic economic policy - Things are to expensive so I'll just legislate them to be cheaper. Good luck with that.
as if reality can be legislated. But this is the crowd that thinks if it repeats a narrative often enough (regardless of its degree of truth) it will magically be so.
Isn't it amazing that the people with no financial experience always seem to know what's best for the rest of us..
Let’s see … inflation is caused by the government pushing excess money into the economy so we will solve the inflation problem by pushing more money into the economy. Hahahaha. Now we know why Kamala has been so quiet about her policies.
These first two policy positions being put forth by the Harris campaign would ultimately kill the U.S. economy. Which leads to an even greater concern, the Harris campaign’s belief that this will be supported by the majority of Americans. Have we as a people become communists? Are we that stupid? Or is this a ticket that’s exposing itself as one that is radically unprepared to run a country. I trust the latter, but I’ve been surprised before.
A frightening number of people are not only economic illiterates but are also fairly stupid as well.
Just where in the heck does Harris think she lives. If people are that ignorant about the democratic agenda and where they want to take this country, by all means go live in a communist, third world country but leave me the heck alone. I’d move to Texas in a heartbeat where they can secede from this insane asylum.