I've seen reports of that $99 case of water. I haven't seen any reports of people actually paying it. And it's a funny thing, but I haven't heard too many reports of water shortages since that report came out, either.

Why not? It's the free market at work. Neighbor 1 complains to Neighbor 2 about the store selling $99 water. "That's ridiculous," says Neighbor 2. "Fortunately, I was smart enough to buy several cases of water before the storm. I'll sell you a case for $25."

Neighbor 3 overhears the conversation. "I was smart enough to buy a water filter a couple years ago. I'll refill those bottles for $15."

Neighbor 4 overhears the conversation. "I have a truck and boat that I can use to get supplies. I'll get you a case of water for $10."

See what happens? As demand increases, so do supplies.

I'll give you another, real world example. Almost forty years ago, the wealthy Hunt brothers tried to corner the market in silver. Silver went from $2 an ounce, up to $50. It looked like the Hunt brothers were going to add another fortune, to the fortune they already had.

But a funny thing happened. The supply of silver increased. People broke out their silver candle holders and silver serving sets, and sold them for many times what they had paid for them. The price of silver fell back to $8 an ounce, and the Hunt brothers ended up losing billions.

You just can't repeal the law of supply and demand. I'll say it again, price controls - and wage controls - don't work. Free market economics does.

Onward and upward,
airforce