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”
Dear lord, if Biden tried to do what Nixon did he would be impeached. At the time I thought it was an abuse of power and entirely unconstitutional, and I am still of that opinion. It also didn’t work. It stopped inflation temporarily, only to come surging back far worse than it had been about three years later and running into the early 1980s, pushing interests rates into double digits for years. I knew people who were paying 13, 14% on home loans. The only reason we could afford to buy a car back then was because we got a deal through Ford for “only” 9%.
My recollection was that we got food at cheaper prices and in those days that was all that matter to my family. chuq
Much heavier top-end taxes on the obscene ‘super-profits’ of some suppliers will force them to bring prices down to avoid losing so much profit in tax. Hence fairer deals for the consumer and still paying dividends to investors and stockholders.
But that might be considered ‘Socialism’ by many Americans.
Best wishes, Pete.
Now there is a good idea…and screw them….if food gets cheaper who cares what it is called….to my mind. chuq
I actually dunno if biden could be mentally capable of logical, rational, coherent abstract thought process to do much of anything if’n he even wanted tae. I was laying awake (almost said last night, but it’s still sortta this “same night” because I never achieved any slumber, due to pain) thinking to myself, “Wow, self, I genuinely wouldn’t want Calamity harris to even be in charge of a preschool, if I had children. Ironically weird how she often speaks to everyone like they’re a 2 year old. But I definitely think it’d be worse if jo croaked and calamity was left in charge.” Yeah, brother you are insightful and I really dig the post! In my I guess bright but not nearly as informed opinion is that I don’t think the current regime actually wants to help Americans in any way whatsoever except possibly they give the false, virtue signaling style of something that they say is “great for us” but really it’s the polar opposite. Such as, “hey we gotta save the planet (as if they possibly could), so in 2030 or whatever, you must only buy electric cars, this is a great thing guys!” But in actuality, well the planet is currently less important than the people (I know, that without the planet we would be in trouble, but honestly, I don’t think it’s the problem to focus on for jo, and focus is an issue with dementia) and I live in the liberal state of CA, ugh, Grusem Newsome is trying the same nuttiness. But I sure hope Trump wins this time, and yes he’s not perfect either, but at least he followed through with his promises (when able, because the dems had him so busy with the lies about Russia an’ all the bad silliness they keep consuming his time with). But I’m hopeful. Though I think they wouldn’t stop at anything if you know what I mean, (JFK and Lincoln) to prevent the Trumpster from winning. These are weird times. And, yup, (to Pete) I agree, t’is Socialism indeed. And, thank you for the comment Lobotero, I’ll be honest, I have Schizoaffective Disorder, OCD, and treatment resistant depression, and it really made me feel better to see the comment. My mood yesterday was rather intense & depressed/frustrated with a twist of aggression. I really can’t express my gratitude enough. Hope you all had a good yesterday without traffic or insect problems due to the eclipse and the devil’s comet and everything. And have a blessed Tuesday. ✌️✝️🇺🇲
We think a lot alike….I am not a fan of Harris nor Biden…..I appreciate your visit and comments….,thanx so much. chuq