President Biden is forming a new “shrinkflation” task force to address “unfair and unlawful pricing” of goods after years of unabated price increases.
In addition to being well aware that Biden’s economic policies are truly to blame, Glenn Beck describes the task team as “a bit alarming.”
Carol Roth, a former investment banker, concurs, pointing out that the Biden administration’s interpretation of what is “unfair and illegal” could not match the meanings of the terms.
“Illegal is one thing, and at least in the modern sense, it has a definition. Who knows how far you could take that? However, Roth clarifies that anything that they don’t happen to like, agree with, or that goes against their philosophy is definitely unfair.
Not only is the phrasing problematic, but price restrictions have never worked in the past.
“We know in economics, generally speaking, that price restrictions are ineffective,” Roth says to Glenn. “That is something that leads to excellent shortages and restrictions.”
She continues, “Even Paul Krugman, who often gets things wrong, has never been incorrect on one issue: he opposes rent regulation.
Should the task group follow through on its commitments, the government would have the authority to intervene and sanction those who are turning a profit.
Roth continues, “That is plainly the total opposite of free market capitalism and a formula for disaster.”
“Fascists make the move when the government instructs corporations what to do,” Glenn claims. “I have concerns regarding this.”
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