Welcome to a special edition of Jesse Water's Primetime. I'm Will Caine, In For Jesse. Venezuela used to be the crown jewel of Latin America. In 1950, it was the fourth richest country in the world per capita. That beat out Australia, Canada, most of Europe. People led lives not unlike ours. They had money in their pocket. They worked good jobs. They drove decent cars. They even had time to have fun. They went to the movies. They went to the zoo. Venezuela doesn't look like that anymore.

Today, the grocery stores are barren. The people are hungry and poor, and they went from the fourth richest country in the world to 56th, behind Uzbekistan. Starving Venezuelans now break into the zoos that they used to visit to kill and eat animals. So what happened? A man named Hugo Chávez seized power in the late 1990s. While the country was blessed with oil reserves, they were cursed by a socialist government that spent all of their money on social programs. Massive inflation followed. Instead of slowing down spending, though, Chávez took control of the food supply. With rampant inflation, the government decided the way to handle that type of inflation was to control prices, the prices of things like groceries. But just like here, the government isn't particularly adept at any particular a regular job. They then overpaid for food in Venezuela, which, of course, led to shortages. A few years later, Venezuela suffered an economic crash bigger than the Great Depression. Now you have an oil-rich country that spent money that it didn't have, ending up in complete turmoil. Does that sound familiar? It's like when you hear a new song on the radio today and then you realize after a little bit, Where have I heard that before?

That new song sampled a track from the 1970s. We're a story today we've heard before, and maybe we should learn a lesson from Venezuela. Kamala Harris is ripping a page out of Hugo Chávez's playbook. The Biden-Harris Whitehouse has turbo-charged inflation by spending trillions that we do not have. And today, Kamla proposed doing exactly what Hugo did, controlling the price of food.

And I will work to pass the first ever federal ban on price gaging Criise gaging on food. My plan will include new penalties for opportunistic companies that exploit crises and break the rules.

Price gaging. She meant price gouging. A new federal ban on price gouging means that the government, not the free market, determines the price of your groceries. We know what happens when the government does this, bread lines. Kamala testifies controlling the price of food by blaming, quote, greedy corporations for the high price of groceries. But the numbers just aren't on her side.

She talked about the profits of grocery stores. Their margins are incredibly thin. For every dollar in the sale. They make profits of around one to three cents. Just try proving that their price gouging is going to be incredibly difficult beyond anything else.

Some of the stuff around price gouging misidentifies what caused inflation. I feel the inflation was caused by Supply chain disruptions, the big government spend that accompanied the COVID crisis.

We've seen this thing tried in lots of other countries before, Venezuela, Argentina, the Soviet Union, etc. It leads to shortages. It leads to black markets. You know, plenty of uncertainty.

Kamla doesn't just want to control the price of food. She wants to give more of your money to other people.

I will work as President with States like here in North Carolina. Roy Cooper, thank you again to cancel medical debt for more and more millions more Americans.

Cancel student debt, cancel medical debt. That would cost billions of dollars. And guess what that would do? Crank up inflation. We're supposed to be tightening the belt. But if Kamla never admits that government spending is part of the problem, she doesn't have to address it. And of course, she also doesn't have to accept responsibilities of Biden. Economics. Just keep writing more checks with other people's money. Here's an idea. How about free down payments on homes?

My administration will provide first-time home buyers with $25,000 to help with the down payment on a new home.

Twenty-five grand for a down payment? Well, that does sound nice until you realize, well, that's going to jack up the price of homes even more. Approximately $25,000. The same way endless college tuition grants made universities completely unaffordable. None of this will stop inflation. It will only make it worse. Maybe that was never the goal to fix the economy. Maybe it's to actually rig the economy. So no matter how hard you work, how much you try, you will just be as poor as everyone else.

It has to be about a goal of saying everybody should end up in the same place. And since we didn't start in the same place, some folks might need more. Equitable distribution. Giving resources based on equity, understanding that we fight for equality, but we also need to fight for equity.

Equality suggests often everybody should get the same thing. Well, That often assumes everybody started out in the same place, as opposed to equity, which is everyone should end up in the same place. And if you then understand not everybody started out in the same place, you understand some people need more, so we all end up in the same place.

That is literally the definition of communism.

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