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phirang
01-04-09, 07:24 PM
The Fed is going to start engaging in "inflation targeting"

Are price and wage controls nigh?

FRED
01-04-09, 07:35 PM
The Fed is going to start engaging in "inflation targeting"

Are price and wage controls nigh?

Thanks for starting this thread. We explored the possibilities for international controls in:

Next logical step in US market controls: Exchange rate and capital controls or bust? (http://www.itulip.com/forums/showthread.php?p=49722#post49722)

What to do about possible capital controls? (http://itulip.com/forums/showthread.php?t=5307)

But what about domestic controls? We usually think of wage and price controls from the other side of the equation: wage and price limits.

How might the government mandate higher prices and wages other than by restricting supply by buying supply off the market as in the 1930s?

don
01-04-09, 08:38 PM
Thanks for starting this thread. We explored the possibilities for international controls in:

Next logical step in US market controls: Exchange rate and capital controls or bust? (http://www.itulip.com/forums/showthread.php?p=49722#post49722)

What to do about possible capital controls? (http://itulip.com/forums/showthread.php?t=5307)

But what about domestic controls? We usually think of wage and price controls from the other side of the equation: wage and price limits.

How might the government mandate higher prices and wages other than by restricting supply by buying supply off the market as in the 1930s?

Supplement wages and salaries with expanded food stamps (called something else to mollify middle class sensitivity) and medicare (suspend age and raise income ceilings). Grant energy $$ assistance for both vehicle and home needs. Last resort: accelerate minimum wage rates.

A Federal "iTulip" credit card would be quicker and cleaner but the unlimited pork barreling and political posturing in the alternative could prove irresistible to our leaders :rolleyes:

GRG55
01-05-09, 02:53 AM
Supplement wages and salaries with expanded food stamps (called something else to mollify middle class sensitivity) and medicare (suspend age and raise income ceilings). Grant energy $$ assistance for both vehicle and home needs. Last resort: accelerate minimum wage rates.

A Federal "iTulip" credit card would be quicker and cleaner but the unlimited pork barreling and political posturing in the alternative could prove irresistible to our leaders :rolleyes:

I like the medicare and energy subsidy ideas. I can see even Congress recognizing them as wonderful vote-buyer ideas.

jayers4647
01-05-09, 06:52 AM
Thanks for starting this thread. We explored the possibilities for international controls in:


How might the government mandate higher prices and wages other than by restricting supply by buying supply off the market as in the 1930s?

I always figured that US Government would control this with their infrastructure jobs which would require workers earn at least this...
or State budget support with workers that earn at least this...

Raising minimum wages makes sense. Start at the bottom and push everything up. I told my kids they would see a McDonalds Value meal for $9.99 several years ago. They laughed.

It will be quicker then I thought.

don
01-05-09, 12:46 PM
I always figured that US Government would control this with their infrastructure jobs which would require workers earn at least this...
or State budget support with workers that earn at least this...

Raising minimum wages makes sense. Start at the bottom and push everything up. I told my kids they would see a McDonalds Value meal for $9.99 several years ago. They laughed.

It will be quicker then I thought.

Raising wages takes it away from the printing press and puts another brake on business. Too many political no-nos. See this as a late move, not imminent.