Answer to Inflation and Bad Economy: Government Mandated Price Fixing: Yes or No?

[alank2]

The answer is for the government to stop devaluing money by printing it like it is paper, giving it away to other countries, and giving it away to people who don't work. They need to stop interfering with it in the wrong ways. I do think some government regulation can be good. Government regulation for things that are monopolies like electric service or gas service can benefit American's at large. Look at how deregulation of these things swept through the nation and the many problems that have come from it. Look at the medical industry - their prices have skyrocketed for decades now from the workable place that they were. Hospitals are not about being a service for Americans's, but they are pure profit centers. So as much as I don't like the government in anything, there are places where good regulation is a benefit to citizens. The problem is that the government has turned from people who represented the people into the self serving crazy corrupt monsters that it is today.

 

[YukonKnife]

"force people"? the answer to inflation was not to print so much currency that it creates a bubble. seen this tried before in the 1970's but things are worse now.

Exactly right. And all of this over-spending. Can this be rolled back and will that cause inflation to stop or go down?

 

[YukonKnife]

The answer is for the government to stop devaluing money by printing it like it is paper, giving it away to other countries, and giving it away to people who don't work. They need to stop interfering with it in the wrong ways. I do think some government regulation can be good. Government regulation for things that are monopolies like electric service or gas service can benefit American's at large. Look at how deregulation of these things swept through the nation and the many problems that have come from it. Look at the medical industry - their prices have skyrocketed for decades now from the workable place that they were. Hospitals are not about being a service for Americans's, but they are pure profit centers. So as much as I don't like the government in anything, there are places where good regulation is a benefit to citizens. The problem is that the government has turned from people who represented the people into the self serving crazy corrupt monsters that it is today.

This is one of the wisest and most correct replies I have ever heard to this. I wish we had more people like you in government.

 

[YukonKnife]

Biden and his handlers have shown they are not to be trusted with any issue they approach. Once they fasten their attention on any issue it has gone straight to worst-case scenario.

That said, some problems have been a long time in the making. Both parties and all presidents have been guilty of deficit spending and doing two little about our debt. Nor can the American public escape blame since they would never tolerate what it took to live within our means. We’re too damn entitled and spoiled.

Regarding inflation, Biden can’t kill Milt Friedman. He’s already dead. But the body of his life’s work can’t be dismissed. So Putting the money-presses on steroids just exposes one thing… the U.S. is out of arrows in its quiver for fighting inflation and for over spending.

Keynesian economics was fine as long as you lived frugally in between periods of crisis, when you needed to intervene with government spending. When we continued to run deficit during good years, Keynesian economics wasn’t Keynesian any long. It was just irresponsible growth of big government.

So now if the Fed raises interest rates to arrest inflation, the economy will constrict further. If the government continues to spend like a drunken sailor - inflation will spiral. The Fed can’t really go below zero to spur the economy, so another arrow already spent.

If things go far enough, and U.S. Faith & Credit is downgraded the real decline will accelerate. It took Venezuela all of 35 years to go from the wealthiest National Economy in their region to fighting for scraps.

Life is hard. Its even harder if you are stupid.

Being a world-leader in a complex world may soon pass to the Chinese, but they too will find belt & road initiatives around the world gets expensive. For our part, we long ago threw caution to the wind, both at home and abroad.

Are you saying there is realistically no "easy fix" for this, and that even if the Republicans were in charge they could not make the USA go back to, say, 1-3 percent inflation per year at worst?

 

[YukonKnife]

It’s the government causing the inflation. It’s the government causing the $5 a gallon gasoline. Remember when Trump got the government out of the way with oil production? $1 a gallon gasoline. Oh how soon people forget.
Democrats cause chaos in order to offer their solutions that cause more chaos.

If a smart Republican got in or if the Republicans could get control of the Senate back, would they be able to reduce inflation and gas prices, and if yes, how?

 

[Judi]

Sounds like communism.....Smells like communism........


Communism.....We finally made it,...just as the Gipper said........in just one generation....

 

[TANSTAAFL]

Question: How Can Inflation Be Stopped While Also

Keeping The Economy Strong?
What are your opinions and feedback and ideas on

this?
One person told me their "Magic Fix It Wand" is

"Government Enforced Legal Price Fixing".
He claims the government should just step in and

force and set all private and public businesses and

corporations to have a set price for goods.
For example: On gas prices, he says the US

government should force the oil/gas companies to

sell gas for 1 or 2 dollars per gallon. Anyone who

tries to sell gas for a higher price would be

penalized, this would be illegal.
This person goes further: The government should fix

the price of bread, meat, cheese, milk and dairy

products, clothes, tools, steel, etc etc etc, and he

claims this is the "Ultimate Panacea. Then companies

can produce the goods people want, and, make

something of a profit (after all, if millions of

people are buying gas at 2 dollars per gallon then

the oil companies are getting millions or billions

of dollars) and the consumer public can have low

prices for the goods they want. What are the down

sides and dark sides to this idea?

Nope, will create massive shortages and a much more lucrative black market.

 

[alank2]

I know nothing of economics, but my guess is that all the money printing has to stop. America has to get its financial house in order. We are in massive debt. This seems to be the game that all first world countries are doing, all of them are in terrible debt due to their pay for everyone who doesn't want to work liberal policies. I think they are playing with fire.

You can't have a resource "money" which has a tangible value "buying power" and then just make up more of it without at the same time lowering its tangible value. When it is worth less, then prices for real things go up resulting in inflation. How to stop inflation? I suppose the tangle value "buying power" of the dollar has to go up and be worth more instead of worth less! Can they unprint money? When they print money, where does it go? Who gets it? Somebody right?

 

[cowadle]

Exactly right. And all of this over-spending. Can this be rolled back and will that cause inflation to stop or go down?

money printing has caused a bubble. our currency has been devalued by tens of trillions. this is why prices are so high. raising interest rates and stopping the printing will be extremely painful but it is the only way to crush inflation. as the bubble deflates and debt is re settled or re valued the value or the dollar will slowly rise. definitely a recession or probable depression soon. if inflation is truly 8 percent then interest rates should be around 12 percent. imagine us paying 12 percent on 13 trillion dollars? we are broke if the dollar looses it's status of world reserve then other nations will no longer be forced into purchasing our debt. if you look at the news you can already see china Russia and other country abandoning the dollar already. the party is about to be over i think

 

[turkeyrun]

Dems are forcing the ruination of currency to install their e-currency. Backed by China.

All electronic, government controlled

Your every purchase under government scrutiny and approval.