This is what happens in third world countries, part 2

In Venezuela, the government thinks electronics retailers have been charging too much, so:

[Venezuela’s] President Nicolas Maduro … sent soldiers to “occupy” one chain of electronics stores and inspectors into scores of others to check for price-gouging.

Thousands of Venezuelans have been flocking to electronics stores, hoping to take advantage of new “fair prices” the government is imposing, sometimes half the previous cost.

If you read the linked article, you’ll find “flocking to electronics stores” translates into English as “looting.”

In first world countries, like the United States, we don’t have these problems. Here, we force people to buy things they don’t want and can’t use, then we redistribute that money to people so they can buy flat screen TVs and iPhones. For example, all males under age 65 are forced to buy insurance coverage for children’s dental and vision care.

Our way of looting is much better organized. For example, we have seen neither “flocking” to the government health insurance website to be disadvantaged by “unfair prices” nor looting of Best Buy.

(Part 1 of “what happens in third world countries” is here.)

Dr. Pritchett and the Philosopher’s Moan

“Dr. Pritchett” speaks:

There is no such thing as a self-made man. Every businessman has used the vast American infrastructure, which the taxpayers paid for, to make his money. He did not make his money alone. He used taxpayer infrastructure. He got rich on what other taxpayers had paid for: the banking system, the Federal Reserve, the Treasury and Commerce Departments, and the judicial system, where nine-tenths of cases involve corporate law. These taxpayer investments support companies and wealthy investors. There are no self-made men! The wealthy have gotten rich using what previous taxpayers have paid for. They owe the taxpayers of this country a great deal and should be paying it back.

-George P. Lakoff, PhD, Professor of Linguistics – UC Berkeley

Dr. Lakoff’s advice is important to Democrats. Speeches by Elizabeth Warren and the president have been informed by his writings.

A man who has been supported solely by taxpayers for his entire adult life, every check from the government, may quite naturally confuse his employers with the paymaster. This includes Barack Obama and Elizabeth Warren.

We may debate who today has Mouch as his avatar, who plays Kinnan, who is Toohey, who is Thompson, who Boyle and who Taggart; but Lakoff is unequivocally Rand’s Dr. Pritchett.

Soft default

Paul Krugman offers further proof that winning a Nobel Prize damages your brain:

What would a real response to our [economic] problems involve?… it would involve an all-out effort by the Federal Reserve to get the economy moving, with the deliberate goal of generating higher inflation to help alleviate debt problems.

It seems to me that the Fed is already doing what Krugman asks inflation-wise, but, like Stimulus One, it’s just not big enough.

One wonders what an all-out effort would look like? Weimar? Zimbabwe? THOSE were all out efforts to inflate debt away.