Rationing and price caps are both tools of the economically illiterate, which is of course why politicians are beginning to talk about it. The Mises blog, CapMag and David M. Brown have the antidotes to such talk:
- Price Gouging Saves Lives by David Brown.
- In a Crisis, Markets More than Ever, by Llewellyn H. Rockwell, Jr.
- Oil Prices Again, by Murray Rothbard
- Creating Economic Crimes, by William Anderson
- What to Do about Gasoline Prices, by Walter Williams
4 comments:
Did you know that the price of bread has risen, percentage wise, at a much higher rate than the price of petrol over the last thirty years? Nobody is running around screaming for bread rationing. Fools. Of course, we know that a significant percentage of the petrol price (Almost 50%) is a political slush fund for the government and their lapdogs like ACC (Posting record surplus - because they can't make a 'profit'). If things get really bad that would be the first place to start pointing fingers and helping oil the gears of enterprise.
But even that won't stop the natural market from finding an alternative. A viable alternative. I still have a strong feeling that China's Hydrogen car will beat the rest of the world to the mass production punch and won't that be the day. Imagine the Chinese economy mass producing and exporting hydrogen powered cars to the world, running a virtually oil-free industry. It'll be an interesting time.
Maybe there is no rationing of bead because you don't fill your car with it...
I take the overwhelming bullish sentiment on oil prices as a contrarian indicator - maybe a good time to short some oil stocks. Take a deep breath. Breathe through your nose - the market will sort it out.
I'm pleased you have fixed the comments. Now go make me a sandwich.
Bloody spammers back again. Cheese on bead is that? :-)
Snopes is also good on the ridiculous 'no gas day':
http://www.snopes.com/politics/gasoline/nogas.asp
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