The Focus LBK Show EP 50: Something Wicked This Way Comes?

What’s Going On?Something Wicked This Way Comes?V.P Harris’ economic policy proposal is concerning because it ignores history. She proposed Price Controls to lower inflation. This means the government would tell people who make, produce and build things what they can charge for the goods and services they produce.Price Controls have a 4000 year history of causing food shortages and even famines. We touch on these and related issues in Down the Prairie Dog Hole.The Broken Window FallacyIn economics, we recognize everything has a cost. People who believe in the “Broken Window Fallacy” think that destruction of property or capital is good for the economy because the owner of the broken window must pay to have it fixed. This means the glazier or glass repairman gets paid. Money is moving around in the economy—stimulating the economy. So even destructive acts, like war, are good for the economy.This notion It is false because it overlooks the fact that the owner has to repair the window out of funds he already has and which he had planned to spend on something else. Now, instead of adding a new employee, or fixing his roof or whatever, he has to replace the broken window, leaving him with that much less available money to do other more needful things.Learn more here: https://www.lewrockwell.com/2015/04/gary-north/the-broken-window-fallacy/Here’s more about the Disastrous Record of Price Controls: https://www.zerohedge.com/political/forty-centuries-failure-price-controls-debasement-tyrannyhttps://www.armstrongeconomics.com/armstrongeconomics101/economics/kamalas-economic-plan-will-terminate-the-us-economy/https://www.zerohedge.com/political/kamala-harris-proposed-price-controls-may-lead-communism-mass-starvation-end-americaHere are previous articles that may help you fight inflation and be prepared. This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit www.focuslbk.show