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Should price controls be imposed on gasoline? (Are all "progressives" economic illiterates?)
CNN ^ | February 29, 2012 | Jack Cafferty

Posted on 02/29/2012 9:59:43 PM PST by 2ndDivisionVet

Gas prices rose for the 22nd day in a row, inching ever closer to a national average of $4 a gallon.

According to triple AAA, the nationwide average is now $3.73 a gallon.

Gas prices are up 14% percent so far this year.

Gasoline is already topping $4 a gallon in several states including California, Alaska and Hawaii and there are reports of $5 gasoline on Long Island. Some suggest we could see gasoline top $6 a gallon.

Gas prices are mainly rising due to soaring oil prices. The market is reflecting fear that tensions with Iran will lead to a war and disrupt oil supplies.

Signs of an improving economy, growing worldwide demand and speculators have also driven oil prices higher.

We've been here before:

In the 1970s, the Nixon and Ford administrations imposed price controls on gasoline. They were reacting to rising gas prices caused by OPEC's cuts in production.

But what followed was long lines at gas stations and an artificial shortage of gasoline.

Experts say the most likely outcome of price controls is gas rationing, like what we saw almost 40 years ago....

(Excerpt) Read more at caffertyfile.blogs.cnn.com ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: economy; energy; gasoline; obama

You just have to believe...

1 posted on 02/29/2012 9:59:46 PM PST by 2ndDivisionVet
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To: 2ndDivisionVet

Yes.

Most progressives, who believe in wage and price controls of any kind, are economic illiterates.

I only say most, because there would be a few who believe in it because it’s good for their personal bottom line.


2 posted on 02/29/2012 10:04:38 PM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: 2ndDivisionVet

Should price controls be placed on gasoline? Answer, yes, absolutely. It will greatly benefit this country by resulting in lines at the pump ala the 70’s. God, please let them do this. The short term suffering would do wonders toward getting rid of Obama.


3 posted on 02/29/2012 10:09:12 PM PST by FlipWilson
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To: 2ndDivisionVet

Yes.

The gas lines would ensure Obama is not reelected.


4 posted on 02/29/2012 10:09:30 PM PST by jimnm
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To: 2ndDivisionVet
How do you say “price controls” in Arabic?
5 posted on 02/29/2012 10:10:41 PM PST by Kickass Conservative (New Tagline under construction, please watch your step.)
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To: 2ndDivisionVet

Do people ever learn from past history?


6 posted on 02/29/2012 10:18:42 PM PST by U-238
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To: 2ndDivisionVet

If we are going to fix markets let’s start with immigration controls.

That will lessen the demand on a good many things and lower our carbon footprint, clean the water and the air.


7 posted on 02/29/2012 10:19:40 PM PST by NoLibZone (Buffet proves calls for more taxes is to buy votes,not reduce deficits.He pays less than Bush rates.)
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Price controls do not work and damage the economy.


8 posted on 02/29/2012 10:20:07 PM PST by U-238
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To: 2ndDivisionVet

Nobel prize winner Milton Friedman said “We economists don’t know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can’t sell tomatoes for more than two cents per pound. Instantly you’ll have a tomato shortage. It’s the same with oil or gas


9 posted on 02/29/2012 10:21:16 PM PST by U-238
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To: U-238

Do people ever learn from past history?


Not most of the people.

But America has been dumbed down so badly that most people don’t know history anyway.


10 posted on 02/29/2012 10:21:56 PM PST by unkus (Silence Is Consent)
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To: unkus

I agree with you


11 posted on 02/29/2012 10:22:46 PM PST by U-238
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To: FlipWilson

I’m willing to suffer through anything, IF IT WILL GUARANTEE the demise of Obama, FOREVER.


12 posted on 02/29/2012 10:24:57 PM PST by annieokie
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To: U-238

This is where you can find the Milton Freeman Quote:

Controls blamed for U.S. energy woes”, Los Angeles Times, February 13, 1977, Milton Friedman press conference in Los Angeles.


13 posted on 02/29/2012 10:25:55 PM PST by U-238
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To: U-238

Its Milton Friedman not Freeman


14 posted on 02/29/2012 10:26:33 PM PST by U-238
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To: 2ndDivisionVet

Sure, let’s slap some price controls on fuel! What are they going to do when they have no fuel to control. Who is John Galt?


15 posted on 02/29/2012 10:41:38 PM PST by Irenic
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To: NoLibZone

There is a shortage of many skills in this country now, thanks to dumbing down of America. There is shortage in so many engineering fields and the enrollment is not increasing. There are shortages in the medical field, including nurses.

What we do not need is importing computer programmers since we no shortage here.

But I am not sure the immigration people are qualified enough to judge who should be given a visa.


16 posted on 02/29/2012 10:41:55 PM PST by entropy12 (Islam is intolerant of every other religion. Most tolerant religion? The oldest one.)
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To: Irenic

John Galt is a fictional character from “Atlas Shrugged”.


17 posted on 02/29/2012 10:51:32 PM PST by U-238
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To: U-238

You don’t say...

I’m starting to think those characters are little gremlins that lept off the pages and decided run around and give the world a dose of misery.

I want to pack them up and shove them back where they belong— words on the pages of a book that can be closed and put back on the shelf.


18 posted on 02/29/2012 11:18:36 PM PST by Irenic
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To: Irenic

I did not know you knew who he was.


19 posted on 02/29/2012 11:20:38 PM PST by U-238
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To: 2ndDivisionVet
"Signs of an improving economy, growing worldwide demand and speculators have also driven oil prices higher."


20 posted on 03/01/2012 12:43:52 AM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: 2ndDivisionVet
Presidential Election Day Nov. 2012 may not be a good day for Obama.

Many voters will stop to buy some gas before they head on to their voting site.

If the price of gas is $4 or more at the pump on that day, many voters will be in a very angry mood after they pay their high gas bills for a few gallons of gas and head on to their voting site.

So when these angry voters who just paid high bills at the gas stations for a few gallons of gas enter their voting booths, they may show how angry and frustrated they are by voting against Obama.

21 posted on 03/01/2012 1:39:03 AM PST by john mirse
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To: U-238

Do people ever learn from past history?


They sure don’t.


22 posted on 03/01/2012 3:48:55 AM PST by Dusty Road
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