Remember that he is a big-time Lefty.

There’s no room for price gouging in a ultra-competitive business like retail, Target CEO Brian Cornell said on Wednesday.

 

In an interview on CNBC’s “Squawk Box,” the retail chief disputed campaign talking points accusing grocers of inflating prices. He said retailers have to be responsive to customers or risk losing business.

He was asked by CNBC’s Joe Kernen, who referred to comments by Democratic presidential candidate Vice President Kamala Harris and asked if Target or its competitors ever benefit from price gouging. Harris last week proposed the first-ever federal ban on “corporate price-gouging in the food and grocery industries,” saying some companies are charging excessively and fueling household inflation.

 

“We’re in a penny business,” Cornell responded, noting the small profit margins in the retail industry. He described the many places that customers can turn to check for lower prices or to find merchandise elsewhere, from going to stores to browsing on their phones to compare the prices of a gallon of milk at different retailers.

Sadly, Kamala Harris and the Leftists have been successful in pivoting the discussion away from inflation to corporate behavior. The reality is that prices have gone up substantially under Biden/Harris. This is textbook inflation. Inflation is caused by too much money chasing too few goods. This causes the value of the currency to decrease because it takes more money to buy the same value. Inflation cannot be caused by the private economy because that economy does not control the money. Government does. Inflation is caused by the government printing or spending more money than the economy can naturally absorb. In the case of our current economy, it is both. The federal government is spending a gargantuan amount of money, but since they don’t have enough tax revenue to cover the spending, they are just printing money to cover the cost.

The only real fix for inflation is to dramatically reduce government spending. The reason that the Democrats don’t want to do that is because federal spending has become a gigantic gravy train for millions of people. If they cut it off, it will anger those people. So the resistance to doing what needs to be done to fix inflation is not an economic one… it’s a political one.

Drastically reducing federal spending would also trigger a recession. All of that spending goes somewhere and if it is cut off, those jobs and businesses go away. It will take some time for the Invisible Hand of our economy to reallocate those resources to more productive means. It would be painful. But it is also the only way and the alternative is that we continue to devalue our currency to the point that there is no wealth left for anyone except political elites. This is where the current path leads and has been replicated dozens of times in modern history.

I know this seems elementary to most of our readers, but this kind of simple economic understanding is being lost. A natural result of the decline of education in America is that we have two generations of people who have not been taught the very basic understanding of how our government and economy works. And yes, I believe that our education was intentionally changed to achieve the level of ignorance necessary for communism to take root.

We will see more and more of this if we elect Harris to continue and accelerate Biden’s terrible policies.

There’s some bad news ahead for the nation’s car owners, with a new report forecasting that auto insurance — one of the biggest drivers of inflation this year — will continue to rise in 2024. In fact, residents of three states could see their coverage rates spike by 50% in 2024.

 

That’s according to a new report from Insurify, a company that provides data about auto insurance rates. The typical U.S. insurance policy will jump 22% this year to an average annual premium of $2,469 by year-end, the report found. That comes after drivers saw their policies jump 24% in 2023, it noted.

 

The three states where insurance rates could jump by more than 50% this year are California, Minnesota and Missouri, the Insurify report found. Drivers in those states could see their rates rise by 54%, 61% and 55%, respectively.

 

[…]

 

First, the costs paid by insurance providers to repair vehicles after an accident, such as for labor and parts, have increased more than 40%, and insurers are passing those increases onto drivers. Secondly, because lawyers are more often involved in handling accident claims than in prior years, settlements are increasing, which also boosts insurance costs.