People who are quite old (me, for example) may remember the 38th POTUS (1974-77), Gerald R. Ford. He took some actions to stanch inflation, which was serious at the time and a walk in the park compared to what is happening now. He instituted a wage/price freeze and distributed lapel buttons with the acronym WIN (Whip Inflation Now).
The lapel buttons were a complete failure, and the wage/price freeze may have been less than perfect. It’s to be considered, though, now, in light of the gravity of our current economic horror. Perhaps the Fed could place an emergency freeze on housing costs, rent and sale price included. Why not run it up President Biden’s flagpole? Maybe a reversal in housing cost could be forced. Practical necessity. Common ethics. The current action, raising interest rates, is unlikely to reverse the crippling inflation of now, and could worsen the economy across the board.
Another idea, mine, is to build a wave of low-rent high-rise apartment buildings geared expressly to the needs of the lower middle class and working poor. This could create competition against the grossly overpriced housing that has become the norm, and possibly reverse the cost of living. It’s been done worldwide, why not here? It would benefit distressed people, allow people more disposable income and maybe stimulate the economy.
If lapel buttons are needed, the acronym BAG could stand for Beat Asinine Greed.
Bruce Reisner
Perry South