Corona-nomics

By Mike Cronin

Have you decided to hate on the folks who hoarded toilet paper and are now selling it for $5.00 a roll? DeBeers did that with diamonds about 80 years ago, then followed it up with decades of shrewd market manipulation and marketing. We bought the diamonds with nary a peep.

Have you decided to hate stores that are “price gouging?”  The stores that aren’t gouging are out of everything you want.  Maybe if stores were allowed to set prices based on supply and demand without incurring uninformed moral outrage, the hoarders wouldn’t have been so keen to hoard, and now there would be more of everything available for the rest of us.

Do you think having the government step in to ration things would be a better solution?  Or maybe just takeover everything? The Soviet Union did that. The Soviets didn’t have some empty shelves during a short crisis; they had virtually empty stores for ~80 years.

Think the government should bail out companies and spend trillions to stop the stock market slide and “stimulate the economy?”  If the value of something goes way up when it’s scarce, like TP for $5 a roll, what happens to the value of a thing, such as the dollar, when it becomes ridiculously abundant?

Let me know when you get your $1000 check from the government.  I might have some toilet paper for sale.