Here we go again: As inflation returns, so will price controls. In the 1960s, the federal government inflated the currency and spent like there was no tomorrow. The result was double digit inflation in the 70s. In 2020 and 2021, the government is spending WAY beyond the 60s, and inflation is making a stunning comeback. In the extreme worst case of hyperinflation, we could end up impoverished like Venezuela, Cuba, North Korea or the former Soviet Union. If it’s merely a repeat of the 70s, there will be far more draconian wage and price controls than Nixon ever envisioned. And they will be about as temporary as COVID controls.
You see, this is what Communists do: They deliberately destroy the economy so they can take control. Communism and socialism are not about economics. They are about CONTROL. Shortages such as spoiled, entitled Americans have never dreamed of will follow price freezes. If nothing else, in a sick sort of way, it will be interesting to watch. People will learn the hard way what a blessing capitalism was. Your leftist friends and relatives will scream louder than anyone. Start growing your gardens now, snowflakes.
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