Guarantee you, written in stone right here, right now - the left will propose this in America within the next 20 years. There is simply no way around it.
It's the only option available when you refuse to look at history, results, and fact. If you insist on forging ahead with ideology above any rational thought (like Nancy Pelosi, Harry Reid, Debbie Waserman-Shultz, and Barack Obama do), you eventually hit a point where government force in every facet of life has been such a spectacular failure, that you can no longer deny it. When that happens, your only choice is to force business to sell products at the price you dictate so that you can temporarily declare your policies "successful".
Of course, that only last so long before businesses go can no longer afford to stay in business and the entire thing collapses. But even at the very moment - you'll never hear the Barack Obama and Nancy Pelosi's of the world acknowledge that their ideology is failed ideology. They will still blame capitalism. They will say that if the "greedy" business owners had just accepted losing money and stayed in business, products would still be available and people would still have jobs. This happened in the former U.S.S.R. and the Democrats didn't learn. This happened in Cuba and the Democrats didn't learn. This happened in Cambodia and the Democrats didn't learn. This happened in Vietnam and the Democrats didn't learn. This is currently happening in Greece, Spain, and France and the Demcorats haven't learned. And now Venezuela has offered itself up as yet another case study in the failure of left-wing policy - and the Demcorats still will not learn.
"Maduro has said he will use the expanded powers, which last for one year, to impose caps on private sector profits and crack down on speculators."
Venezuela parliament backs Maduro rule by decree bid
Oh?
It saddens me how little most people really know about economic history, or for that matter any history that isn't military history/
You mean like NIXXON imposed on the people of the USA back in the early 70's?
Read this, Rottie...educate yourself. You're too smart to be so ignorant
Nixonomics, a portmanteau of the words Nixon and economics, refers to U.S. President Richard Nixon's economic performance. Also Nixon is first president to have his surname combined with the word "Economics".
Nixon inherited a weak economy from President Lyndon B. Johnson, who didnt follow the advice of his economists. In 1969, a tax bill passed that held several Nixon ideas, including a repeal of the investment tax credit and removal of two million of the nation's poor from the tax rolls. After a year it was becoming obvious that the plan wasnt working. Nixon gave his budget plan to congress in 1971 in which he was to use a $11.6 billion deficit. Nixon then publicly agreed with Keynesian economic principles which stated that government expenditure could take the nation out of their recession, which was a considerably unusual view for a Republican president.
Arthur Burns, Nixon's appointee to chair the Federal Reserve, shifted away from a tight-money policy because the nations unemployment was sharply rising as was inflation. In the early months of 1971, Nixon started criticizing the growing wages in the steel industry, so he created the Tripartite Committee to keep a closer watch on the construction industry. Treasury Secretary John Connally announced that the government would need to start taking new measures. Despite this, unemployment had reached 6 percent.
In August the government had made a new plan for the economy with rather extreme measures, measures which would later be dubbed Nixon Shocks. The plan was announced on August 15, 1971 in a national televised address. Nixon declared that the gold window would be closed and that gold would no longer be transferable to US dollars. This created an 8 percent devaluation to the dollar, as compared to other of the times major currencies, stimulating American exports and the domestic economy. A 90 day freeze on wages and prices and the establishment of the cost-of-living council was also announced. Unfortunately he neglected to inform any allies beforehand, causing some more than minor problems between the countries.
When 1972 came around, unemployment had continued to rise, with 2 million more Americans out of jobs than in 1969. The administration decided it was time to stimulate the economy with a $25.2 billion budget. In the election year, the money supply was expanded by 9 percent. This caused many to accuse Nixon and Burns of making a deal so that Nixon could win the upcoming election and Burns to keep his government position. Both men denied the accusation.
Soon in the fall, the economy began to improve. Unemployment was finally dropping and inflation was staying relatively in control. America had temporarily gotten out of the recession. Unfortunately inflation soon increased after the election. When the failed wage and price controls were lifted, other problems took their toll on the American economy. An expanded money supply, the effects of increased deficits and the rising price of oil all left their mark on the American economy. By 1973 inflation increased 8.8 percent, then 12.2 percent in the following year.
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