Not long ago, Hillary Clinton promised that, when she is President, she will make oil prices go down. I didn't know Presidents had that special power. Hold it, wait, isn't that what Nixon, Ford, and Carter tried -- price controls? As I recall, it resulted in long gas lines and gas shortages. Sounds like someone's nostalgic for the 70's!
I'm afraid, with oil prices hitting $100 a barrel today, that the American public will naively (and amnesiacly) think such price controls are a good idea.
Of course, right now it's looking like we might be choosing between Clinton and Huckabee, and Huckabee is nothing more than a Nixonian Republican himself. Nixon was all about interventionist economics, price controls, etc. And we all remember stagflation, don't we?
3 comments:
She can bring oil prices down? So she plans on settling the issues in Nigeria, specifically the Niger Delta region or the other factors which has drove up oil prices?
The thing about capitalism is, you can't force people to invest there money in places. So unless she plans on forcing investors to invest or some type of price control she is just fishing for votes.
Of course she is just fishing for votes. But it's a kind of dangerous fishing, because if you fish for votes this way, you will eventually have to deliver on a few to get reelected. To deliver on this, she will have to implement price controls, and when you do that, you create shortages, as we saw in the 70's here in the U.S.
I remember when Osama bin Laden said that he wanted the oil prices to be $100 oil. And thanks to the Bush administration, we have it. It is good to see that moral enemies can come together to reach the same goal. There might be a Nobel Peace Prize for Osama bin Laden in this!
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