Skip to comments.Should price controls be imposed on gasoline? (Are all "progressives" economic illiterates?)
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 ...
You just have to believe...
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.
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.
The gas lines would ensure Obama is not reelected.
Do people ever learn from past history?
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.
Price controls do not work and damage the economy.
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
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.
I agree with you
I’m willing to suffer through anything, IF IT WILL GUARANTEE the demise of Obama, FOREVER.
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.
Its Milton Friedman not Freeman
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?
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.
John Galt is a fictional character from “Atlas Shrugged”.
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.
I did not know you knew who he was.
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