- 00:06
- Well, I just thought I'd get out in front of this one before it becomes popular in Big Eva, but price controls are immoral.
- 00:13
- Just thought I'd get that one out there. You know that Big Eva is going to support the coming price controls, and I definitely think these are coming.
- 00:21
- Obviously, I don't have a crystal ball, but as inflation gets more and more intense, the government numbers say that it's the worst it's been in decades, but their numbers are off by a factor of two.
- 00:34
- It's double as bad, at least, as the government says it is. All you need to do to know this is go to the store.
- 00:41
- If you go to the grocery store regularly, you've seen the price of your basket go up and up and up and up, and it's not getting any better, and it's not just groceries, it's everything.
- 00:51
- And so, inflation's going up, and price controls are very tempting for a government to do because it's something that is very obvious, okay,
- 01:00
- I'm making sure that the price of this won't go up anymore, this I command, and everyone's very excited about it, but they don't work, right?
- 01:09
- Besides the fact that they don't work, they're immoral. The government has no right to tell anybody how to price their own property, right?
- 01:18
- If the government owned something and was selling something, they could price it whatever they wanted, but the government actually has no authority on any price setting whatsoever.
- 01:27
- Now, I know that Big Eva is going to promote these things because it's very tempting and it's very easy to be like, see,
- 01:34
- I'm so compassionate, and they already do this. Big Eva already supports minimum wage, which is just a price control.
- 01:42
- The minimum wage is essentially controlling the price of your labor, the minimum someone can pay you for your labor, and it doesn't work because what ends up happening with minimum wage is that unless your work is more valuable than your minimum wage, you don't get hired.
- 01:59
- So what it ends up being is a ban on work that is not as valuable as whatever the minimum wage is.
- 02:05
- So all those people that would have been employed doing productive things, which actually drives prices down because the more people are there producing stuff, the less that stuff costs because there's more of it, it's just simple economics, but the people that have jobs or skills that aren't worth whatever the minimum wage that the government sets is, they don't work.
- 02:26
- And so what ends up happening is they're banned from working, maybe they get a subsidy, maybe they get welfare, but the prices for everybody goes up because they're not working producing goods or services.
- 02:37
- So now there's less goods and services to go around, therefore the price of those things goes up.
- 02:42
- So minimum wage is totally immoral because the government doesn't have the right to do it, and it's counterproductive.
- 02:48
- It actually hurts the poorest among us because inflation hurts the poorest among us.
- 02:54
- If I have to pay more for my groceries, I'll probably be okay, but if someone who's living on a razor -thin margin where they really don't have any extra money at the end of the month, if they have to pay more for groceries, well, they're pretty screwed.
- 03:08
- And so price controls are totally immoral. They're going to happen with regular goods, food, gasoline, everything.
- 03:16
- They're going to try to price control everything. This is definitely coming, and what I want to do is not only say it's immoral, so when you see
- 03:24
- Big Eva saying, oh, price control, it's incompassionate, we care about people, love your neighbor. You know they're lying, they don't have any clue what they're talking about, they don't understand economics, and they don't understand their
- 03:34
- Bibles because price controls are clearly illegal and immoral in the Bible. Even Jesus says so.
- 03:40
- Jesus even teaches a parable about this. But beyond that, I want my audience to be prepared for this, because what's going to happen when they start doing price controls is that, number one, it's going to create more shortages because the pricing system is how we distribute goods in a fair way that's the most equitable it can possibly be, and we can explain that in another video.
- 04:03
- Like whenever they try to price control water before a hurricane happens, that actually screws up, it actually creates shortages of water where it's needed, whereas if they let the price of water shoot through the roof before a hurricane, it would actually be better for more people.
- 04:19
- But even though, that's aside the point, that's pragmatic thinking, but also it's immoral, so we shouldn't do it anyway.
- 04:27
- But anyway, the bottom line is there'll be shortages, and it will create a black market because people are still going to need the stuff that there's shortages of, and in order to get the stuff, they're going to have to pay a market price, and so it's going to create a black market, an underground market, so to say.
- 04:47
- And so what I would suggest is, think forward about what it would look like if, in order to get a new toaster, or whatever it is, a can of soup, whatever it could be, think through right now, the only way you could get it is through a black market.
- 05:06
- So an illicit, at least according to the law, market. What would you need to have in place in order to participate in that black market?
- 05:16
- Think that through. I'm not going to tell you what you have to do here, or what you should do, but it's worth thinking through.
- 05:23
- What steps can you take now to prepare for the inevitable black markets that are going to be springing up everywhere?
- 05:30
- It could be a variety of things. You could be thinking of personal protection. You could be thinking of the form of money that you're using.
- 05:38
- That actually might make a huge difference in a black market situation, because you won't be able to go on Amazon and get the goods you need, but you're going to have to go through some other means to get to what you need.
- 05:47
- Maybe Amazon. I think they might be setting up Amazon to be the only store around. But anyway, there'll still be shortages on Amazon.
- 05:53
- So my point is, I just want to get it in before Big Eva does the stupid think piece about how price controls are loving your neighbor.
- 06:01
- It's not. It's hating your neighbor, and it will create problems for the poorest amongst your neighbors. So stop being evil.
- 06:06
- Number two, what does it mean for you to be forced into engaging in the black market in order to get the goods that you need?
- 06:14
- What would you need to think through ahead of time to be prepared to engage in those markets?
