Biden Launches Task Force To Crack Down On Rampant Inflation

President Biden is taking on the issue of corporate price gouging, and consumers desperately need some relief. But the question is whether he’s serious about tackling the issue, or is this just a campaign stunt? Mike Papantonio & Farron Cousins discuss more.

Check out our merch by visiting our store

Subscribe to our podcast

Become a member today!

Support us by becoming a monthly patron on Patreon, and help keep progressive media alive!

Spread the word! LIKE and SHARE this video or leave a comment to help direct attention to the stories that matter. And SUBSCRIBE to stay connected with Ring of Fire's video content!

Support Ring of Fire by subscribing to our YouTube channel

Be sociable! Follow us on:

*This transcript was generated by a third-party transcription software company, so please excuse any typos.

President Biden's taking on the issue of corporate price gouging and consumers desperately need some relief. But the question is whether he's serious about tackling the issue or is it just a campaign stunt? I don't know, man. I look at this story and I'm happy about it. I'm happy that Biden said, you know, he's been talking about inflation, inflation, inflation. He's been beat to death on inflation. They're gonna probably, if they win the election, the Republicans win the election, inflation's gonna be a big part of it. But you know what? He's been told year after year in his administration, you have something available to you. You have executive orders. You have ways to do price controlling. And now on this very late date, it's almost too late to me. People aren't gonna get how important this story is, but pick it up.

Yeah. He's got this new task force that he has announced, and the task force, their job is gonna be investigate this price gouging that we already know is happening with these corporations, the grocery store chains, the manufacturers, electronics, all of it. And we know it's happening, by the way, because they've openly admitted it. We sat right here standing in the same spot doing the story of the executives that are on tape saying, well, in times of rapid inflation, we inflate our prices anyway, so that we.

We've done that story several times.

Exactly. And so they've openly admitted it. There is no question about it. But what we've got now with this task force, it may be too little too late. And that is why there is a part of me that feels like, I think this is being done for political reasons.

Well, I don't really care about that. Whether it's political or not, it's the right thing to do.

It is.

I'm proud of Biden for doing it. It's just like everything else right now. He's playing catch up. And you don't have time. I mean, I don't think you have time. I think the last State of the Union speech moved the numbers favorable to him by four points or something like that. But you can't, it's gotta be a long game. You don't have that much time left. And I'm glad to see that he comes up with this and says, yes, we can control prices. We can threaten corporations. We can tell 'em that if you don't do this, we're gonna go after your money that's offshore. If you don't do this, we're gonna change your tax code in a way that you're not gonna like. If you don't do this, we're going to investigate and we're gonna regulate more. There's all kinds of threats that he had that he's had the entire time. And while the Democrats have been beat to death, I mean, they have been.

Oh, absolutely.

It's like number, it's like way, way high in the list of what people, inflation. And he could have controlled the inflation where it came, when fuel went out of control. He had just, it's an executive order. There's ways you can do that. But he hasn't done it. And he's, and I don't, it's hard for me to always blame him when he's surrounded with advisors that are supposed to be telling him this. He's, like it or not, he is not getting up every day thinking about how do I improve this problem or that problem. His advisors should be doing that. Right?

Right. And look, Elizabeth Warren has been on top of this particular issue for several years now.

Yeah. Good example.

And so it's not like they didn't know about it. It's not like it was something that they just stumbled upon a couple weeks ago. They have known for a very long time. And Elizabeth Warren basically handed them the roadmap and said.

She did.

She said, here are the bad guys.

And they ignored her. They ignored her.

Yeah.

Not only did she hand here's the bad guys.