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NONSENSE! NY Mag Sells ‘Price Controls’ to Fight Inflation
NewsBusters ^ | 1/4/2022 | Joseph Vazquez

Posted on 01/04/2022 9:28:18 AM PST by JV3MRC

Inflation is skyrocketing, so let’s make matters worse! That seems to be the logic behind the “price controls” New York Magazine is promoting as a serious idea to fight off inflation.

In a piece headlined, “Who’s Afraid of Price Controls?,” author Eric Levitz made the argument that the “widespread tendency to dismiss price controls of any kind as economically illiterate, while defending interest-rate hikes as economically wise, reflects custom more than reason.” But Levitz spent a major portion of his argument undercutting himself. He noted that a similar case made recently in The Guardian was considered “tantamount to a declaration of economic illiteracy” by lay observers and policy wonks and “fatally undermined by its brevity and dearth of detail.”

Levitz’s argument was simply an attempt at convincing readers that price controls shouldn’t be dismissed because the Federal Reserve’s “existing approach to managing inflation [ — raising interest rates —] has plenty of hazards of its own.”

(Excerpt) Read more at newsbusters.org ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: blogpimp; economy; inflation; newyork; newyorkmagazine; pricecontrols; threadkaren
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To: wny

Lets cap the salary of “journalists” at $40K.


21 posted on 01/04/2022 10:30:09 AM PST by woodbutcher1963
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To: woodbutcher1963

$40K is way too much.


22 posted on 01/04/2022 10:33:25 AM PST by ConjunctionJunction (Vim vi repellere licet)
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To: JV3MRC

Two words: Rent Controls.

How’d those work?


23 posted on 01/04/2022 10:34:34 AM PST by Fai Mao (I don't think we have enough telephone poles.)
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To: Fai Mao

Well ... it didn’t work last time, ... but ... we have really smart people in charge this time ... they went to, like, Ivy League schools and stuff ... so ...


24 posted on 01/04/2022 10:36:14 AM PST by ClearCase_guy (Mass hypnosis of society. So many people are blind to the Truth which is in front of them.)
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To: odawg

Supply and demand. Eco, I bought 22LR ammo for 2.9 cents and happily sold some at 25 cents when the market demand changed. Used that money to buy a new gun. No different than Lowes adjusting price for market and future nventory.


25 posted on 01/04/2022 10:47:23 AM PST by Reno89519 (FJB. Respect America, Embrace America, Buy American, Hire American.)
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To: JV3MRC

RATS aren’t smart enough to understand the business model of a lemonade stand...


26 posted on 01/04/2022 10:48:07 AM PST by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: ConjunctionJunction

In NYC, you need $80K just to be able to rent a crappy apartment with no parking.


27 posted on 01/04/2022 10:48:07 AM PST by woodbutcher1963
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To: odawg
Yes, however, however, when Lowes jumps the price of two-by-fours over three dollars in the same week on lumber already paid for, then that used to be called price-gouging.

It's not about what they paid for the product, it's what it will cost them to replace it. When lumber supplies stabilize they will be forced to sell product they paid a premium for at market price.

28 posted on 01/04/2022 10:52:01 AM PST by ETCM
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To: JV3MRC
Thinking outside of the box: how about making pay for CongressCritters means-tested. For every three dollars above their salary in taxable income, claw back one dollar. Same for the pensions.
29 posted on 01/04/2022 11:23:32 AM PST by asinclair (What doesn't kill you makes you stronger)
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To: JV3MRC

“Price Controls” is a euphemism for “Unavailable”.


30 posted on 01/04/2022 11:51:01 AM PST by The Free Engineer
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To: hinckley buzzard

Ahem. Pardon me. But how would price controls work when inflation is caused by the deflation in value of dollar, not necessarily the price of goods??


31 posted on 01/04/2022 12:07:26 PM PST by WLusvardi
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To: I want the USA back

The “government” is subservient to the Federal Reserve.


32 posted on 01/04/2022 12:50:00 PM PST by WKUHilltopper
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To: JV3MRC

New York Magazine is, has been, and will always be silly and irrelevant.


33 posted on 01/04/2022 12:50:45 PM PST by WashingtonSource
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To: Pete Dovgan

Will there be price controls on hookers too. Curious minds want to know.


34 posted on 01/04/2022 1:17:00 PM PST by oldasrocks
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To: oldasrocks

Ask Hunter...


35 posted on 01/04/2022 2:41:51 PM PST by ConjunctionJunction (Vim vi repellere licet)
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To: woodbutcher1963

I have such a low opinion of journalists at this point that $40K still sounds like too much. They can live in a van down by the river...


36 posted on 01/04/2022 2:53:52 PM PST by ConjunctionJunction (Vim vi repellere licet)
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To: JV3MRC

Price controls reduce supply. Smart.


37 posted on 01/05/2022 2:03:06 PM PST by JimRed (TERM LIMITS, NOW! Militia to the border! TRUTH is the new HATE SPEECH.)
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