Biden's Rent Control Plan is Stone Cold Marxism
MURRAY SABRIN, PhD, is Emeritus Professor of Finance, Ramapo College of New Jersey
PUBLIUS SPECIAL GUEST: Murray Sabrin, PhD, author of From Immigrant to Public Intellectual: An American Story.
The Biden administration is considering imposing nationwide rent control because rents have been rising faster than incomes over the past couple of years. Rising rents is another inevitable consequence of the Federal Reserve's super easy money policies that were implemented to stimulate the economy to deal with the Covid lockdowns in 2020.
Rent control has destroyed housing units in every city it was tried--New York City has been the poster child for "temporary" controls that were introduced in 1943. Once price controls are introduced they are hard to remove, even after they cause widespread economic harm. The solutions to high rents are straightforward .
More supply by removing barriers to construction of moderately priced apartments and ending the Fed's manipulation of interest rates. In time, supply and demand will be in balance and rents would come down especially in communities where the building restrictions have been the most draconian.
In my December 2021 Fortune essay I alluded to price controls coming to America because of accelerating inflation. Read Below!
Here is a blurb:
My fearless forecast, therefore, is: Inflation accelerates in 2022. Then, the public outcry over skyrocketing prices and the media reports highlighting how prices are decimating the average family’s purchasing power may cause the Biden administration to impose wage-price controls as President Nixon did in 1971 to take the sting out of inflation before his 1972 reelection campaign. Biden could use an executive order if Congress doesn’t give him statutory authority to impose price controls.
From Immigrant to Public Intellectual: An American Story
By
A truly American story about an immigrant child’s rise from humble beginnings to forge a stellar career as an educator, author, candidate, and media influencer. Murray Sabrin explains libertarianism in plain language using his own life story set against a half-century of changing times.
“From the ashes of post-World War II West Germany to the heights of intellectual respectability to the driveway of the New Jersey Governor’s mansion, Professor Murray Sabrin has written a rollicking tour of his life’s path that takes us down memory lane from the JFK era to the present. Murray is a gifted and fearless interpreter of economic forces and a keen observer of the harm’s politicians have caused to the free market. Read this fascinating autobiography of this indefatigable man and you will find yourself cheering for Murray at every turn while lamenting the growth of Leviathan. In Webster’s Unabridged, next to the word ‘courage’ should be a photo of Murray Sabrin.”
- Hon. Andrew P. Napolitano, former NJ Superior Court Judge, TV news commentator, and NY Times best-selling author.
PLUG BOOK: From Immigrant to Public Intellectual: An American Story
BIO: Murray Sabrin, PhD, author of From Immigrant to Public Intellectual : An American Story, is Emeritus Professor of Finance, Ramapo College of New Jersey. Dr. Sabrin is considered a “public intellectual” for writing essays about the economy in scholarly and popular publications. He is the author of Tax Free 2000, Why the Federal Reserve Sucks, Universal Medical Care: From Conception to End-of-Life, and Navigating the Boom/Bust Cycle. Sabrin’s latest book, The Finance of Health Care was recently published. His new book, From Immigrant to Public Intellectual, An American Story was just released.
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Murray Sabrin, PhD, author of From Immigrant to Public Intellectual: An American Story.
Biden doesn’t have the power to do that. Come on folks. Would it kill you to READ OUR CONSTITUTION JUST ONCE?