Richardcyoung.com

The Online Home of Author and Investor, Dick Young

  • Home
  • How We Are Different
  • About Us
    • Foundation Principles
    • Contributors
  • Investing
    • You’ve Read The Last Issue of Intelligence Report, Now What?
  • Your Survival Guy
  • The Great Reset
  • COVID-19
  • My Rifles
  • Dividends and Compounding
  • Your Security
  • The Swiss Way
  • Dick Young
  • Debbie Young
  • Key West
  • Paris
  • Dick’s R&B Top 100
  • Liberty & Freedom Map
  • Bank Credit & Money
  • Your Survival Guy’s Super States
  • NNT & Cholesterol
  • Work to Make Money/Invest to Save Money
  • Your Health
  • Ron Paul
  • US Treasury Yield Curve: My Favorite Investor Tool

Price Controls: Bad Economics and Fuel for Instability

July 11, 2018 By E.J. Smith - Your Survival Guy

By Roman Mikhailiuk @ Shutterstock.com

Basic economics dispels the idea that price controls are useful. Nevertheless governments (including America’s) regularly try to control prices. Whether via direct price caps and floors, or quota systems, or through inflation or deflation of the money supply, government attempts to control prices are distortive to markets, and eventually lead to some kind of backlash. Sometimes the response is a black market, as is thriving in Venezuela today. Other times, hoarding takes place. Other times it’s more violent.

Sometimes, the hardest thing about price controls is removing them. People get used to paying a certain amount, and when the government attempts a market based reform, it’s not pretty. That’s happening now in Haiti, where the government has attempted to raise fuel prices to more rational levels. In response, citizens rioted, and at least four have died in the chaos. The government backed off its attempt to raise prices, but the fury it unleashed hasn’t subsided. Amelie Baron reports for AFP:

Many Haitians are now demanding the immediate departure of President Jovenel Moise.

“If the president stays one more day, the game will take on a new appearance: we will cut off the roads and burn everything, because we have nothing else to lose,” said one masked protestor.

Groups of young men trying to extort money from motorists as well as pedestrians controlled various intersections and roads in Port-au-Prince on Sunday.

Local radio reported that groups of armed people in civilian clothes had been seen in some downtown districts.

In the heart of the capital, AFP journalists saw shops ransacked as protestors demanded Moise’s exit.

Some aggressive young men carried knives, and special police crowd control units fired their guns into the air and detonated tear gas.

Unstable policies can lead to chaotic turmoil. While such an event seems unlikely in the United States, things can change rapidly. How would you and your family fare in a moment of political upheaval? Could you ride it out, safely at home? Or would you need to evacuate your area and seek safer ground?

Consider also where you’re headed on vacation. If you were vacationing in Port-au-Prince this week, it’s unlikely you were prepared for what happened. Think it can’t happen to you? Watch the video below about Americans trapped in a hotel in Haiti.

Americans trapped in Haiti hotel amid rioting

Originally posted on Yoursurvivalguy.com.

Related Posts

  • Bad Journalism, Bad Form, Bad Manners.
  • Democrats Will Pay the Price
  • Remembering Breaking Bad With Badfinger
  • Author
  • Recent Posts
E.J. Smith - Your Survival Guy
E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998.

E.J. has trained at Sig Sauer Academy in Epping, NH, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention.

E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris.

Please get in touch with E.J. at ejsmith@yoursurvivalguy.com

Click here to sign up for my free monthly Survive & Thrive letter.
Latest posts by E.J. Smith - Your Survival Guy (see all)
  • Your Survival Guy’s BEST Insider’s Guide to Key West - March 20, 2023
  • For Whom Is Your Portfolio Serving? - March 17, 2023
  • Are You Living Your Best Life? - March 16, 2023

Dick Young’s Must Reads

  • CONSTITUTIONAL CARRY: Alabama Becomes 22nd Permitless Carry State
  • SVB – There’s Panic in the Air
  • The Three Best Retirement Decisions I Ever Made
  • Sen. Hawley Makes the Case Against U.S.-China Relationship
  • The County Sheriff: America’s Last Hope
  • You Want the Limo, Not the Public Bus
  • Joel Salatin: Meet the Real Mr. America
  • A Look at the Future of Main Street America
  • The Armed American Family: Part I
  • BEYOND RUSSIA: America Strengthens India Ties to Counter China

Our Most Popular Posts

  • Washington Is the Systemic Risk
  • Matt Taibbi Exposes the "Censorship-Industrial Complex"
  • “Will We Have Enough to Live On Forever?”
  • SVB – There’s Panic in the Air
  • The Education of Barney Frank
  • MASKS: "No Measurable Difference in Outcome"
  • Coal Is Keeping the Lights On
  • WORKING OVERTIME: The COVID Propaganda Machine
  • Silicon Valley Bank: What Do Investors Expect?
  • How about Hiring Erik Prince to Crush the Drug Cartels?

Disclosure

RSS Youngresearch.com

  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • For Whom Is Your Portfolio Serving?
  • Who’s to Blame for Banking Vulnerability?
  • Mortgage Market Not Expected to Settle Down Soon
  • Are You Living Your Best Life?
  • Were Silicon Valley Bank’s Motivations for Taking Losses Pure?
  • Will the Black Swan Usher in Digital Dollars?
  • Major Rail Merger Gets Approval
  • The Education of Barney Frank
  • Credit Suisse Announced “Material Weaknesses” In Its Internal Controls

RSS Yoursurvivalguy.com

  • Your Survival Guy’s BEST Insider’s Guide to Key West
  • Be Wary of Those Who Wrap Themselves in Capes
  • For Whom Is Your Portfolio Serving?
  • ESG: Are Markets Ready for “A Needed Dose of Reality?”
  • Was Silicon Valley Bank a Victim of ESG?
  • Are You Living Your Best Life?
  • March RAGE Gauge: Will the Black Swan Usher in Digital Dollars?
  • Gretchen Whitmer Reviving Forced Unionization in Michigan
  • Will the Black Swan Usher in Digital Dollars?
  • How the Rich Get Richer: You Invest, They Win

Pushing Back at ESG

Your Survival Guy’s BEST Insider’s Guide to Key West

Greetings from Key West

Cheap Reliable Heating – a Life Saver

For Whom Is Your Portfolio Serving?

Are You Prepared to Run Out of Water?

Copyright © 2023 | Terms & Conditions | About Us | Dick Young | Archives