Those of a certain age will recall that back in 1971 when prices were spiraling out of control, Richard Nixon announced an executive order: “I am today ordering a freeze on all prices and wages throughout the United States.” The 90-day freeze was enforced by a “Pay Board” and a “Price Commission.” It was an utter failure. After the 90 days were up, prices skyrocketed.

So naturally, Kamala wants to give it another try. Grocery stores, other retail outlets, and landlords will be restricted in how much they can raise prices. Rent increases above 5% will be illegal.

Have industry price controls EVER worked? No, price controls almost invariably cause shortages, which lead to higher prices, which make consumers worse off. This was the conclusion of a landmark study by Cliff Winston of the Brookings Institution.

One of the first executive orders under Reagan was to lift all remaining oil and gas price controls and in a snap, the oil crisis ended.