You can’t fool the supply-and-demand curve.
Wage & Price controls have a history of FAILURE. For damn’ good reason.
Oh boy. This is frightening.
It seems so many people in power have adopted a “If we can’t have it, let it burn” attitude.
Biden, Biden, Biden, Biden, Biden, Biden, Biden, Biden.
Because real solutions require accountability and that’s long been off the table? Just a guess..
Hi.
How many times in the 20th century have wage and price controls worked?
5.56mm
They could start by shutting down the printing presses for a while. As long as they continue printing “money” with nothing to back it (Fiat money) you are going have inflation. More paper cash = More inflation. Just take a look at the inflation rate since 1971 when Nixon decided to use the “Faith in the United States” instead of gold to back our currency.
Of course looking back at the inflation of the dollar since1913 with the establishment of a central bank, (The Federal Exchange) is enough to make normal people want to just start the whole thing over.
Price controls will result in even more empty shelves, then the call for the government to mandate that companies continue to produce at a loss, then the government nationalizing businesses and using force to assure delivery, then the eating of zoo animals like Venezuela, etc. This is a road we should not go down IMO.
Because they worked so well for Nixon.
They always work /sarc
“Most people alive today never experienced the 1970’s period of runaway inflation.”
Whoa, that’s a sobering thought. I remember it like it happened yesterday. How did I get so old?
When COVID was first getting started, whoever would have thought the government would go nuts and crank the printing presses up to 11 for a couple of years igniting inflation? I’ve been through many pandemics (polio, Asian Flu, Hong Kong flu, N1H1, Bird flu etc) and somehow survived them all. I thought this would pass quickly and the government wouldn’t destroy the economy for their power grab. Boy, was I ever wrong.
Now, as we just started retirement, the government sh!t show has fouled everything up. Thank God we are long on real estate.
Because that’s how you institute communism among the western civilizations.
That about sums it up. Only the galactically stupid would want to do it again.
The real solution to inflation is also a solution to many other problems. It will not be painless to many. 1.) The fed has to stop quantitative easing now. The problem there lies in that the fed prints money to pay government bills. 2.) Massive cuts to government need to occur. That means putting government employees in the unemployment line. No longer do they get away unaffected by government caused problems. It also means that the trillions of dollars of spending that has occurred next to cease. All of it now. 3.) One of the driving causes of inflation is energy costs. If affects nearly everything you buy. It is not just a gas pump issue. We need to drill now and drill everywhere. Allow the free market to decide where it is profitable to drill and not drill. This should not be the governments problem. There is no pain associated with this item. Only leftist that worship at the alter of scientism and global warming will hemorrhage from their diminutive pea brains. 4.) Worker productivity needs to increase. More units of output per labor hour of whatever good or service that is being produced increases at current cost levels. This is purely a private sector solution that will occur naturally. Government cannot force this or aid in this. There are zero people in government that have any knowledge of how the real world works and they are a bunch of lazy asses that should not be looked towards solutions. 5.) A real federal budget needs to be created. None of this omnibus spending bull crap. That budget needs to eliminate funding for regulatory agencies and spend less each year than the previous year for the next ten years. The private sector will experience reduced costs for their production because they no long need to comply regulations and have the expense in doing so. 6.) The border needs to be shutdown. No more student visas, no more green cards, no more legal or illegal immigration. Yes, people can still visit the US for vacation or conduct business meetings, but they cannot live here. Additionally, all illegal aliens need to be deported. They are a net cost to society and drive up costs for many services including education, health care, law enforcement, prisons, and all the handouts the Brandon Administration gives them.
They’ve never worked.
Isn’t that how Venezuela achieved poverty? Please, no.
You assume such drastic measures will alter consumer behavior. The biggest mistake Dems always make.
This abject stupidity was tried during the Gerald Ford Administration. (Whip Inflation Now) and was a total cockup. Why is it that we have to relearn so many things that do not work.
