Also known as communism. Price Control worked really well in Kazakhstan recently. The gas price was controlled to keep the price of gas low for its population. The result was that the neighbouring countries paid full price, and the population did not get any. When they tried to raise the price to address the market driven shortfall, people got angry.
CNN click bait. Last comment in the article says price controls a bridge too far. No fucking duh. Read any history book of how the 1970s were mishandled. They know that, just trying to get clicks cuz they have been hemorrhaging viewers.
People never learn. Look what happened when they tried to control the price of gas in the 70's. There were gas shortages. I was a kid and remember my Dad having to wait in line to get a gallon.
Nixon tried the price control trick, and it failed. Prices went up anyway, and a whole lot faster. So when Carter got in, it was really bad and people blamed him, when it was actually Nixon taking us off the gold standard that was the root cause.
I was in college and then out on my own working through the 70s. I would have done much better if I had been better at managing my money. And bought Microsoft when it first went public. :)
Ditto. I remember and experienced. Also. Dic's EPA started the destruction of our private industrial manufacturing capabilities. Returned home after service and the plants were shutting down. Gasoline went from $.29 to $.79. Food prices doubled in a few months.
In 1974, gas where I lived was 52.9. It went down to 47.9 by early 1975, but then started its long steady rise.
I know it was around 60 cents when my father had the local distributor bring a load to his house and filled up a large tank hidden in an outbuilding. He was using 60 cent gas after the price had gone past 80 cents.
In times of inflation, stocking up is better than putting money in the bank.
Also known as communism. Price Control worked really well in Kazakhstan recently. The gas price was controlled to keep the price of gas low for its population. The result was that the neighbouring countries paid full price, and the population did not get any. When they tried to raise the price to address the market driven shortfall, people got angry.
Many such stories.
CNN click bait. Last comment in the article says price controls a bridge too far. No fucking duh. Read any history book of how the 1970s were mishandled. They know that, just trying to get clicks cuz they have been hemorrhaging viewers.
Ask the citizens of Venezuela.
Like seriously, why the fuck not. Show us your true colors AKA the Skull and Crossbones, Mr. Government. It's time to make the pirates walk the plank.
Who is John Galt?
People never learn. Look what happened when they tried to control the price of gas in the 70's. There were gas shortages. I was a kid and remember my Dad having to wait in line to get a gallon.
Spoiler: NO. No it shouldn't
Nixon tried the price control trick, and it failed. Prices went up anyway, and a whole lot faster. So when Carter got in, it was really bad and people blamed him, when it was actually Nixon taking us off the gold standard that was the root cause.
The 70s were miserable. Even as a kid, I knew. 50 years later, here we are again.
I was in college and then out on my own working through the 70s. I would have done much better if I had been better at managing my money. And bought Microsoft when it first went public. :)
Ditto. I remember and experienced. Also. Dic's EPA started the destruction of our private industrial manufacturing capabilities. Returned home after service and the plants were shutting down. Gasoline went from $.29 to $.79. Food prices doubled in a few months.
In 1974, gas where I lived was 52.9. It went down to 47.9 by early 1975, but then started its long steady rise.
I know it was around 60 cents when my father had the local distributor bring a load to his house and filled up a large tank hidden in an outbuilding. He was using 60 cent gas after the price had gone past 80 cents.
In times of inflation, stocking up is better than putting money in the bank.