Price controls never work. They merely create scarcity, a black market and out of control inflation. Uncle Miltie, please explain why:
She truly is an idiot.
Shades of Richard Nixon!
- Donald R. McClarey
Donald R. McClarey
Cradle Catholic. Active in the pro-life movement since 1973. Father of three, one in Heaven, and happily married for 43 years. Small town lawyer and amateur historian. Former president of the board of directors of the local crisis pregnancy center for a decade.
They don’t work toward sensible ends. If you’re John Kenneth Galbraith and want to boss people around, price controls is a way station.
The exception in regard to price controls would be in the case of natural monopolies and monopoly situations.
It’s another indicator that the Democratic Party is bound and determined we should live through the 1970s in every detail.
Many years ago, the late Cathy Seipp asked one of her daughter’s teachers (in Los Angeles) why some particular pedagogic inanity was being pursued. The reply, “That’s where we are in the cycle. I been at this so long I can see that wheel turning round and round”. The lady was due to retire shortly.
One other thing. Price controls do not generate inflation. They generate utility losses through manufacturing shortages. (Price floors will generate gluts).
What I find puzzling is that she has been in office for the past 3 years and if the goal was the fix the current economic situation then she and her party had every means to do so. The reality is things are as they are when she was VP. Yet, she is now asking to be elected as President for 3 years based on the premise she will fix the problems which occurred under her and Biden’s watch. Are her followers that stupid…? Surely there aren’t enough numbers that stupid to vote her into back into power….And yes she is truly an idiot.
“Are her followers that stupid…? Surely there aren’t enough numbers that stupid to vote her into back into power”
Weeelll.. given attitudes expressed on my home state University campus in the 90s, ….
We can hope enough people will have sense to understand the pitfalls here. Prayers will be needed too.
We saw empty shelves during COVID especially meat, chicken and toilet paper. Our son in San Francisco wanted to get out of SF lock down and visit us in VA. My husband mumbled something like is he trying to kill his parents with the plague?
I told my son, ” You better bring toilet paper because it is scarce here”. “That’s okay, Mom, I have plenty and will bring it.” Apparently he traded ammunition for TP from a worker at a warehouse. There will be more bartering if the nation sees price controls again. Black market too.