Get ready for a little history.

Last week I posted on the high cost of food and a loyal reader and commenter Grouchy Farmer, https://grouchyfarmer.com/ and I had conversation on how these prices could be controlled a bit…..I brought up that Nixon had done something in 1973 with the Executive Order process.

Nixon’s Executive Order 11723 states….

SECTION 1. Effective 9:00 p.m., e.s.t., June 13, 1973, no seller may charge to any class of purchaser and no purchaser may pay a price for any commodity or service which exceeds the freeze price charged for the same or a similar commodity or service in transactions with the same class of purchaser during the freeze base period. This order shall be effective for a maximum period of 60 days from the date hereof, until 11:59 p.m., e.s.t., August 12, 1973. It is not unlawful to charge or pay a price less than the freeze price and lower prices are encouraged.

SEC. 2. Each seller shall prepare a list of freeze prices for all commodities and services which he sells and shall maintain a copy of that list available for public inspection, during normal business hours, at each place of business where such commodities or services are offered for sale. In addition, the calculations and supporting data upon which the list is based shall be maintained by the seller at the location where the pricing decisions reflected on the list are ordinarily made and shall be made available on request to representatives of the Economic Stabilization Program.

SEC. 3. The provisions of this order shall not extend to the prices charged for raw agricultural products. The prices of processed agricultural products, however, are subject to the provisions of this order. For those agricultural products which are sold for ultimate consumption in their original unprocessed form, this provision applies after the first sale.

SEC. 4. The provisions of this order do not extend to (a) wages and salaries, which continue to be subject to the program established pursuant to Executive Order 11695 (b) interest and dividends, which continue to be subject to the program established by the Committee on Interest and Dividends and (c) rents which continue to be subject to controls only to the limited extent provided in Executive Order 11695.

SEC. 5. The Cost of Living Council shall develop and recommend to the President policies, mechanisms and procedures to achieve and maintain stability of prices and costs in a growing economy after the expiration of this freeze. To this end, it shall consult with representatives of agriculture, industry, labor, consumers and the public.

Read more on Nixon’s efforts…. Executive Order 11723

While I was no fan of Nixon at least he was doing something for the people of this nation….what is Biden doing?

I have said a few times….we cannot eat words and task force is a waste of time that will be soon forgotten in 2025 and then there is Congress the most corrupted lay-abouts that has ever been.

Granted 1973 was a different age and the special interests were not as liberal with the cash payouts as they are today and agribusiness was nothing but a far off thought.

I have no love for Biden but he could do more if so inclined….but that is a joke….he will do nothing but talk.

In my opinion price controls will do the job….if only for a short time….

I Read, I Write, You Know

“lego ergo scribo”