On 10.11.2024 17:29, Arelor wrote to Mike:
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-> Re: Re: Thanks America!
-> By: Mike to Nightfox on Sun Nov 10 2024 01:13 am
-> > In my opinion, politicians at the time should have frozen prices to
-> > prevent
-> > damage to
-> > citizens. Actually their oath of office, right?
-> Germany tried price caps to put a stop to runaway inflation when it concerned
-> basic products - milk, vegetables, that sort of stuff - soon after WWII and
-> it
-> worked very poorly.
-> Spain also underwent price capping for groceries around the same time.
-> China had a crisis not long ago because they capped the price of electricity.
-> The issue with price capping is that you make it less interesting for people
-> to
-> produce the capped goods so they stop doing it altogether. In the case of
-> China, maybe the problem is they want to keep producing, but can't afford to,
-> because the capped prices don't allow to pay their suppliers.
-> Somethinc good came out of Spanish price capping, though. Everybody started
-> using black markets and learnt to operate beyond the law.
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ooops WWII ... long time ago hahaha
But what is better? Inflation or price stability?
I think price stability, because the price spiral wouldn't continue!
If the market goes crazy, "just" because of Corona/Ukraine and, for example,
cooking oil
costs twice as much from one day to the next!!!...the goverment should intervene
and force the company to charge the old price again! Because, in this case, the
warehouses in Germany were still filled with the cooking oil. I could call a lot
of these
examples where Article raised in the price from day to the next day!
And if the price is high, it stays high for a long time. A company does not
voluntarily
lower the price of a product!
And what happens.... The worker want more income...
And so this spiral keeps turning!!
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