How Kamala Harris’s Price Control Plan Could Ruin the Economy
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Price controls. I touched on this last week and I gave some example, talked about gasoline and countries like Venezuela and Iran and how they’re subsidized and how anybody want to move there? Everybody want to go to those countries like the way that they operate? I was actually shocked. mean, mainstream media didn’t even try.
They didn’t even really try to defend Kamala Harris’s ridiculous price control nonsense when it came to food because it’s just, it’s so stupid. We’ve tried it here in this country. There was a book, a book came out about 40 years ago by, from the Heritage Foundation. I wrote it down here. 40 centuries of wage and price controls.
how not to fight inflation. And you know, it’s been interesting as well is that it’s kind of, it’s great if you ask me, you’re seeing a lot of clips, Milton Friedman clips on social media on X right now, just making fun of price controls and how they operate. Let’s go back, we’ll go back in time, shall we? Ancient Egypt, Pharaohs. So under the,
the guys of preventing famine, they tried to control the wheat supply. And over time, control gave way to direction. then direction led to, hey, we’re going to take it over. Government ownership. And again, whenever I hear that, always go back to Maxine Waters talking about how she wanted to socialize the oil companies. But anyway,
Farmers couldn’t make any money. Couldn’t make any money. They left. They produced less. Less and less and less until gee whiz, famine sets in, economy collapses, workers abandon cities, and about 3000 BC, no more pharaohs. Reign of the pharaohs over. Hammurabi. He’s gotten, he.
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credit, you know, first ever formal written law codes. But he kind of did a great deal harm kind of wrecked the Babylonian Empire, the extensive wage and price controls he included in the first code weaken the economy so much it brought down the empire. The Roman Emperor, Diocletian tried wage and price controls in an effort to right the market.
after earlier price controls had failed. This was fourth century BC. Roman government bought corn and in times of shortage resold it at a low fixed price. 58 BC, it went further and granted every citizen free wheat. Farmers began streaming into Rome because they could live and eat without working. By the time of Julius Caesar, one in three Romans was receiving government wheat.
The government tried to fix it by, hey, let’s print more money, but it just added, did what? What happened? inflation. The abdication imposed wage and price controls in order that anyone who violated the controls or withheld goods to be killed. Yeah, didn’t work out. Again, they got rid of him before he was emperor for four years. We almost did ourselves in during the American Revolution.
Same thing. Again, price controls almost wrecked the country during the revolution. And Nixon, Nixon tried to pull that nonsense off in the 1970s. And what did that last? 90 days. 90 days. Again, you just let Kamala Harris speak. Again, I don’t know who.
around her thought that this would be a good idea. mean, it’s actually it’s insulting to people’s intelligence. Quite frankly, I you know, I don’t know. I don’t know how they’re going to go about some of this. I was going to answer questions. On this, get I don’t know. I don’t know. It’s it’s beyond the pale. We shall see. We shall shall see sooner rather than later. I guess.
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to DNC this week, are they going to be talking much about this? I don’t think so. I don’t think they’re going to it’s going to be all, you know, fluffy speeches, know, Michelle Obama, I think Joe Biden for crying out loud. First night. He’s the president of United States is the opening act. Let’s feel bad for the old guy. Anyway, watchdog on wallstreet .com.
