Business, Economics, Political Commentary, Science And Society

The Next Gift To A Grateful Nation

22 Comments

…from the Obama administration — price controls:

Price controls cause shortages — that is Econ 101, but this is a White House that has declared a War on (Social) Science, at least when it comes to fundamentals such as supply and demand, which it apparently believes are the invention of a right-wing think tank somewhere in Arlington. I have spent part of the morning debating people who are very upset that George W. Bush may have entertained heterodox views about evolution (I do not know that he did), but, given a choice, I will take the government that has insufficient appreciation for advanced biology over the government that has insufficient appreciation for fundamental economics.

Me, too.

22 thoughts on “The Next Gift To A Grateful Nation”

  1. Counting down, waiting for the usual gang of economic illiterates and reality-challenged State-fellators, to show up to convince us that price controls are a GOOD thing.

  3. Ok, so Obama isn’t going to be another Bill Clinton. As long as the Republicans don’t blow it, the next presidential election is theirs.

  7. Under the new law, insurers that show “a pattern or practice of excessive or unjustified premium increases” can be excluded from the centralized insurance market, or exchange, that is to be set up in each state by 2014.

    There’s your control, Chris.

  9. Chris you ignorant slut. I wasn’t talking about you, I was pointing out that political science is an oxymoron. Let me guess what your degree is in. It surely wasn’t logic, math, real science or economics.

  10. But price controls generally are imposed as a response to excessive inflation. Our government says that inflation was only 1.1 percent for the last 12 months ended November 2010: http://www.bls.gov/news.release/cpi.nr0.htm

    What the heck does this mean? Inflation is misreported (or miscalculated) by the BLS? This administration is willing to try ANYTHING to force the square peg of Obamacare into the round hole of the economy?

    Or maybe this administration is trying to force something into the round hole of the American people

  11. Larry, I thought it was Jane that was the ignorant slut. So what was it with Aykroyd’s big grin when shooting his guns in ‘Gross Pointe Blank?’

    Just when we thought Obama was Carter II he becomes Nixon II. Perhaps he’s trying to channel the worst of all our former presidents? That could explain his whole election to POTUS… it’s a college prank!

  12. “Chris you ignorant slut. I wasn’t talking about you, I was pointing out that political science is an oxymoron. Let me guess what your degree is in. It surely wasn’t logic, math, real science or economics.”

    Based on what he writes here, I’m guessing it was in Basket Weaving.

  13. Chris,

    From 2701(a)(1)(A)

    With respect to the premium rate charged by a health insurance issuer for health insurance coverage offered in the individual or small group market such rate shall vary with respect to the particular plan or coverage involved only by …

    From 2718(b)(1)(A)

    Requirement.–Beginning not later than January 1, 2011, a health insurance issuer offering group or individual health insurance coverage (including a grandfathered health plan) shall, with respect to each plan year, provide an annual rebate to each enrollee under such coverage, on a pro rata basis …

    These sound like price controls to me. The first limits variability in premium from one plan to another and the factors that may be considered in setting premiums, and the second limits premiums collected against “reimbursements for clinical services provided” and “activities that improve health care quality”.

  14. Or maybe this administration is trying to force something into the round hole of the American people

    I believe that you espy, a corncob that is dry.

  15. Well we learned that Gerrib will believe anything he’s told from a government official via the New York Times. Then again, perhaps we all already knew that about Gerrib.

  16. Based on what he writes here, I’m guessing it was in Basket Weaving.

    Well, I think we can rule-out Control Theory…

  17. Not sure it’s a price control if you can’t, actually, control prices.

    Right. And if I like my insurance I can keep it.

  18. The funny part is that price control (“cost containment”) was an Obamacare talking point. I guess the Left’s childish need for knee-jerk gainsaying is more important.

  19. “Not sure it’s a price control if you can’t, actually, control prices.”

    I’m not willing to accept that claim from the people who denied that the fine for not getting insurance wasn’t a tax, and then claimed that the fine is legal precisely because it IS a tax.

  20. I’m not willing to accept that claim from the people who denied that the fine for not getting insurance wasn’t a tax, and then claimed that the fine is legal precisely because it IS a tax.

    Sounds familiar, as in “We have always been at war with Eastasia.”

    Some people are gullible enough to fall for liberal Newspeak. The rest of us must all be racists…

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