This illustrates a fundamental problem with leftist economics. They never look at things, or understand them, from the supply side. Price controls work until the supply side stops supplying, and then they don't work any more.

(01-21-2022 07:52 AM)Owl 69/70/75 Wrote:  This illustrates a fundamental problem with leftist economics. They never look at things, or understand them, from the supply side. Price controls work until the supply side stops supplying, and then they don't work any more.

Supply side will keep supplying as long as there is a profit to be made and/or a mandate to do so. Being energy independent makes such mandates sustainable. It's very noble to think everything can just be an unregulated free market and work as efficiently as possible. But it just doesn't work that way. One of the purposes of government is to make the process as efficient as possible through regulation of the free market.

(01-23-2022 02:01 AM)scorpius Wrote:  

(01-21-2022 07:52 AM)Owl 69/70/75 Wrote:  This illustrates a fundamental problem with leftist economics. They never look at things, or understand them, from the supply side. Price controls work until the supply side stops supplying, and then they don't work any more.

Supply side will keep supplying as long as there is a profit to be made and/or a mandate to do so. Being energy independent makes such mandates sustainable. It's very noble to think everything can just be an unregulated free market and work as efficiently as possible. But it just doesn't work that way. One of the purposes of government is to make the process as efficient as possible through regulation of the free market.

You are a genius! I have wondered why the old USSR always had plenty of toilet paper….

(01-20-2022 11:23 PM)scorpius Wrote:  Since the price of oil has the most dramatic effect on inflation, I've often wondered why we don't cap the price of oil to a fixed inflation adjusted level. Any offset, the government covers and then recovers automatically by a sliding tax on oil company profits. Seems like a no-brainer to me. Price goes up, profit goes up for oil companies. Legislate whatever portion of that profit necessary to cover the price fix. I believe that would solve 90% of the inflation problem. Same could apply in reverse. Oil price tumbles below the price fix, the government bails out the oil companies with the extra profit it makes by maintaining the inflated price fix. So it's a win-win to everyone. Consumers get price stability as well as oil companies get profit stability. Regardless, thankfully within the next 10-20 years, the issue will be moot since the price of energy will largely be renewable and thus fixed on it's own. Same will apply to food since it will largely be vertical factory indoor food production by then.

You obviously didn't read the post above. You are describing Jimmy Carter's America with Windfall Profits Tax. Lead to stagflation. 8% unemployment and up to 18% inflation. Yes, 18! If you think Biden's 7 is bad, Biden can make it a lot worse.

(01-23-2022 02:34 AM)Was SoMs Eagle Wrote:  

(01-23-2022 02:01 AM)scorpius Wrote:  

(01-21-2022 07:52 AM)Owl 69/70/75 Wrote:  This illustrates a fundamental problem with leftist economics. They never look at things, or understand them, from the supply side. Price controls work until the supply side stops supplying, and then they don't work any more.

Supply side will keep supplying as long as there is a profit to be made and/or a mandate to do so. Being energy independent makes such mandates sustainable. It's very noble to think everything can just be an unregulated free market and work as efficiently as possible. But it just doesn't work that way. One of the purposes of government is to make the process as efficient as possible through regulation of the free market.

Biden's America is short on TP, paper towels, aluminum cans, computer chips,....
You are a genius! I have wondered why the old USSR always had plenty of toilet paper….

Price controls would lead to MASSIVE unemployment. Free economy means letting market conditions drive prices.

(01-23-2022 06:41 PM)THE NC Herd Fan Wrote:  Price controls would lead to MASSIVE unemployment. Free economy means letting market conditions drive prices.

but but but ... we can print more $$$ ... just like votes ...

c'mon mayun ... get on board ... it's so simple to be phat and happy ... just ask any jarooney with a cellulite ebt .... it's all the rage, pal...

@nutsZongo

(01-23-2022 12:39 PM)bullet Wrote:  You obviously didn't read the post above. You are describing Jimmy Carter's America with Windfall Profits Tax. Lead to stagflation. 8% unemployment and up to 18% inflation. Yes, 18! If you think Biden's 7 is bad, Biden can make it a lot worse.

Price controls on oil had been in effect for decades before the 70's. It just got taken to another level during the 70's for obvious reasons. And that started under Nixon and then Ford. Carter simply continued the same path since it was still a problem. The whole decade was stagflation due to the oil situation.

(01-23-2022 07:46 PM)scorpius Wrote:  

(01-23-2022 12:39 PM)bullet Wrote:  You obviously didn't read the post above. You are describing Jimmy Carter's America with Windfall Profits Tax. Lead to stagflation. 8% unemployment and up to 18% inflation. Yes, 18! If you think Biden's 7 is bad, Biden can make it a lot worse.

Price controls on oil had been in effect for decades before the 70's. It just got taken to another level during the 70's for obvious reasons. And that started under Nixon and then Ford. Carter simply continued the same path since it was still a problem. The whole decade was stagflation due to the oil situation.

and why/who controlled such up to that point?

hint: developing nation(s) with the $$$ as the benchmark

you actually got one right .... now explain why today isn't different how politics continues playing the '70s game via limiting supply...

yeah, we know .... ewe fkbags milk when req'd....

just another mild hint: it fk'n sucked balls then .... it still sucks balls