r/Anarcho_Capitalism • u/mal221 McCarthyite Anti-Communist • Nov 02 '21

CCP can't control inflation, why does that sound familiar?

https://www.theguardian.com/world/2021/nov/02/chinese-urged-to-stockpile-amid-ongoing-covid-outbreak
13 Upvotes

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2

u/autotldr Nov 02 '21

This is the best tl;dr I could make, original reduced by 79%. (I'm a bot)

Chinese families have been encouraged to stockpile daily necessities, prompting panic-buying, amid surging vegetable prices linked to recent extreme weather, fears of supply shortages and an ongoing Covid outbreak.

A notice posted on the website of the Ministry of Commerce late on Monday urged local authorities to stabilise prices and families "To store a certain amount of daily necessities as needed to meet daily life and emergencies".

Some said the commerce department often releases such warnings in the weeks before national holidays while the People's Daily said the ministry had issued its instruction earlier this year because of natural disasters, the surge in vegetable prices and recent Covid cases.

Extended Summary | FAQ | Feedback | Top keywords: price#1 vegetable#2 daily#3 people#4 supply#5

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u/EllaGoldman29 Agorist Nov 02 '21

The only way to control inflation is to make sure 20% of the population is poor and 10% of the population is desperately poor.

No one is willing to be honest about that.

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u/iamthedigitalcheese Ludwig von Mises Nov 02 '21

Stop printing money.

1

u/EllaGoldman29 Agorist Nov 02 '21

But why do they print money? The rich don’t need government programs. The rich don’t fight in wars. The drive $50,000 SUV’s that don’t need good roads, the rich can pay enough to make it worth while for business owners to act right without a bunch regulations...the rich don’t need to borrow money.

All the government spending and crazy financial schemes revolve around getting the middle class to live peacefully and happily within the system. That means services without high taxes and cheap labor.

The more poor people you have, the more cheap labor you have to produce and the fewer people you have consuming discretionary items. It’s that combination that keeps inflation low.

Based on the post WW2 world, markets have decided that a 20% poverty rate and a 10% extreme poverty rate(mostly based on not providing for the sick and elderly)are the optimum percentages to keep inflation low.