Could some of the “not Joe Biden” shine be wearing off of Vice President Kamala Harris’s campaign as she begins to finally release her policy positions?
Harris has received a lot of flak for taking her sweet time to make her policy positions known as the United States races toward Election Day in November. Given her severely truncated campaign, it would make sense that she would attempt to sell herself hard and fast to the American people, outlining her positions on key issues that mean the most to voters in 2024.
As she prepares to release some domestic economic policies in the coming week, some of the leaks that have come out aren’t looking good for her. In fact, they’re so bad that even older CNN articles can be used to challenge them.
Case in point, a May 2024 article titled: ‘Think corporate greed is the leading cause of inflation? Think again’ in which the writer debunked the progressive myth that corporate overlords were taking advantage of average Americans.
“Economists at the SF Fed found that corporate price gouging was not a primary catalyst for the inflation surge of 2021 to 2022,” the piece reads. “The Fed researchers did find that some companies exercised pricing power by raising prices above their production costs – a gap known as markups.”
“For instance, markups spiked for gasoline, cars and other goods in 2021. Likewise, there were increased markups for repair, general merchandise, laundry, personal care and other services, according to the Fed,” the author explained.
Overall, there was little evidence to indicate that price gouging “is the main culprit” of current market woes, meaning the far-left is going to have to fix their talking points as the country closes in on the end of the election.
When zooming out and looking at markups across the economy, the SF Fed economists found little evidence that price gouging was the main culprit.
“Aggregate markups – the more relevant measure for overall inflation – have stayed essentially flat since the start of the recovery,” the paper concluded. “Rising markups have not been a main driver of the recent surge and subsequent decline in inflation during the current recovery.”
This directly contradicts Democrats like Senator Elizabeth Warren, who said as early as 2021 that corporations are largely to blame for the dramatic rise in prices.
“Right now prices are up at the pump, at the supermarket, and online. At the same time, energy companies, grocery companies, and online retailers are reporting record profits,” she said at the time. “That’s not simply a pandemic issue. It’s not simply some inevitable economic force of nature. It’s greed—and in some cases, it is flatly illegal.”
In May of this year, shortly before CNN’s article was published, even the president was running with this line.
“If you take a look at what people have, they have the money to spend. It angers them and angers me that you have to spend more,” Biden said to CNN’s Erin Burnett, pointing to “shrinkflation” to justify his anger. “It’s like 20% less for the same price. That’s corporate greed. That’s corporate greed. And we have got to deal with it. And that’s what I’m working on.”
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
Sierra Marlee is a millennial whose hunger for the truth in a world of fake news has led her to write. Marlee also contributes to BizPac Review.
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