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Kamala Harris was on the campaign trail, promising to tackle 'price gouging' and cap rent increases (both will lead to food and housing shortages, but that's a topic for another post). Ignoring the fact she's been the Vice President for three-plus years and should do something about it now, the problem is (as always) government.
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Elon Musk explains this in very simple terms:
The rise in prices (inflation) is caused by government overspending, which increases the amount of money faster than the increase in goods & services output.
That is the vast majority of the problem.
Inflation was particularly bad during the Covid years, as there was massive… https://t.co/G9s6OKvZyO
— Elon Musk (@elonmusk) August 9, 2024
The entire post reads:
Inflation was particularly bad during the Covid years, as there was massive government spending, despite productivity plunging, as people were forced to stay home.
This is further exacerbated by excess regulation, which prevents the market from solving an unmet need (eg housing in high-demand areas).
Occasionally, there is monopolistic behavior by companies, but this is relatively rare and usually only possible if those companies have gained control of their industry regulator. Again, a government, not private sector, problem.
Government caused the problem. Democrats like Kamala think more government is the solution.
100% but people refuse to open their eyes
— Kevin Sorbo (@ksorbs) August 9, 2024
A lot of people absolutely refuse to open their eyes.
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The government always likes to blame the problems they created on capitalism.
— Collin Rugg (@CollinRugg) August 9, 2024
The plan has always been to collapse the system, blame capitalism, and remove it.
"Inflation is in effect a hidden tax. The money that people have saved is robbed of part of its purchasing power, which is quietly transferred to the government that issues new money."
- Thomas Sowell.
— Craig Chamberlin (@CraigChamberlin) August 9, 2024
Bingo. It's a tax on the middle- and lower-class.
Stop spending so much damn money. pic.twitter.com/23jLuFC3iL
— Planet Of Memes (@PlanetOfMemes) August 9, 2024
This is step one.
EXACTLY people don't understand basic economics. Government spending has caused this
— aka (@akafacehots) August 9, 2024
And more government regulation will only make the problems worse.
Want to know what causes inflation. Here you go.
So what is the answer to reducing inflation? 🤔 #thingsthatmakeyougohmm https://t.co/00M1t8RRL6
— Paul Seale (@paulvseale) August 9, 2024
Less government, fewer regulations.
Seems @elonmusk has an intellect able to handle political and economic analysis — in addition to space flight, satellite comms, and building electric cars. And his conclusion is that economic and political freedom are leading indicators of prosperity. I knew I liked this guy. https://t.co/AnhkKvaT85
— Don Kilmer (@donkilmer) August 9, 2024
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He's an interesting fellow.
The statists will tell you that it's greedy corporations "price gouging" that causes inflation because they don't want to stop spending trillions. The American dollar is worth less in buying power every day. It's a liability not an asset. https://t.co/aQeeD4zgT6
— @_@ (@dysinger) August 9, 2024
Bingo.
The only Econ primer you need right now 🫡 https://t.co/FxZJ1CRJKK
— Richard A. Stern (@RichAStern) August 9, 2024
It's really that easy.
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