You're conflating inflation, which can be solved quite easily by using a hard currency instead of fiat, with the profligacy of politicians and the general public. There is certainly no easy solution to the later.
"It's Communism": Kamala's First Economic Plan Proposes Price Controls To "Combat Inflation"
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You're conflating inflation, which can be solved quite easily by using a hard currency instead of fiat, with the profligacy of politicians and the general public. There is certainly no easy solution to the later.
Wall St. is all in on Kamala...
IDK. But, I wouldn't bother politicizing the issue... it's counterproductive IMHO.
It must be addressed in a bipartisan manner. Else, when push comes to shove, markets will solve the problem by shooting rates much higher. And, the U.S. will find more and more Russian submarines and Chinese spy balloons challenging its sovereignty.
Unfortunately politicians from both sides spend their political capital just as recklessly as the financial capital.
Oh well. In a weird way the libertarians should take comfort. Because... they don't need to do anything but wait. History has shown that big centralized governments collapse from their own morbid obesity.
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When your opponent calls you ‘communist,’ maybe don’t propose price controls?
The most likely template for Harris’s proposal is a recent bill from Sen. Elizabeth Warren (D-Mass.). (Harris co-sponsored similar legislation with Warren in 2020, when Harris was a senator.) Warren’s bill would ban any “grossly excessive price” during any “atypical disruption” of a market. Alas, no definition was provided for these terms, either; rather, the bill would empower the Federal Trade Commission to enforce bans using any metric it deems appropriate.
It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.
At best, this would lead to shortages, black markets and hoarding, among other distortions seen previous times countries tried to limit price growth by fiat. (There’s a reason narrower “price gouging” laws that exist in some U.S. states are rarely invoked.) At worst, it might accidentally raise prices.
The most likely template for Harris’s proposal is a recent bill from Sen. Elizabeth Warren (D-Mass.). (Harris co-sponsored similar legislation with Warren in 2020, when Harris was a senator.) Warren’s bill would ban any “grossly excessive price” during any “atypical disruption” of a market. Alas, no definition was provided for these terms, either; rather, the bill would empower the Federal Trade Commission to enforce bans using any metric it deems appropriate.
It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.
At best, this would lead to shortages, black markets and hoarding, among other distortions seen previous times countries tried to limit price growth by fiat. (There’s a reason narrower “price gouging” laws that exist in some U.S. states are rarely invoked.) At worst, it might accidentally raise prices.
When your opponent is a criminal, rapist, pedo and a traitor, you just ignore what he says.
Warren knows her stuff. There is no communism and everyone who knows history knows adjustments have to be made.
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You do do realize that many states have price gouging laws that outlaw “grossly excessive price” during any “atypical disruption” of a market. It is up to the executive of the state, the governor, to define the terms and metrics that are deemed appropriate. For example, North Carolina has pricing gouging laws (GS 75-38 : Prohibit excessive pricing during states of disaster, states of emergency, or abnormal market disruptions) that are put in effective during hurricanes and other natural disasters. These laws have also been used to regulate prices of items such as animal feed over multi-year time frames.
It's long overdue to have these laws at the national level.
Tuxan and GWB are foreign nationals trying to subvert the U.S.A. Don't listen to their nonsense. The best possible outcome of price controls would be that anyone who really needs the commodity will have to buy it on the black market for more than they pay now, if it's available at all.
Schadenfreude nearly makes me want to see it come to fruition. I hope her supporters starve to the point they learn to produce something on their own instead of continually leaching off the rest of us
Elizabeth Warren is imbecilic.
