Must Reads For The Week 9/23/17

Posted September 24, 2017 by austrianaddict
Categories: Must Reads For The Week

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The Obamacare “Death Spiral”: Health Plans Now Cost Employers More Than A New Car, at zerohedge.com. The results of the Affordable Care Act aka Obamacare are obvious. Nothing has been made affordable (whatever your definition of affordable is). This was predicted by people who were against the government take over of healthcare. You would logically think that it would be easy to get rid of the policy that caused the problem. But Obamacare was an increase in the power of government. And once government increases its power it is almost impossible to make them give it up. That is why the Republicans are only talking about fake repeal right now. They want to pass a bill that can be spun as keeping their promise to repeal Obamacare, even though it doesn’t.

GOP Leaders Are Trying To Bribe An Alaska Senator To Repeal Obamacare – By Letting Her State Keep Obamacare, at reason.com. This is evidence of what I talked about concerning the above article. No other comment is needed.

Pension Storm Coming: “This Will Become One Of The Most Heated Battles Of My Lifetime”, at zerohedge.com. What happens when there is not enough in the funds to pay the increasing number of retirees on public pension plans? At some point someone is going to have to give something up. Unfortunately it is usually the tax payer. Which is really starting to get old.

Illinois Unpaid Vendor Backlog Hits A New Record At Over $16 Billion, at zerohedge.com. Here is another example of what happens when year after year Government spends far above what it takes in taxes. Who is going to pay for this? You and me! Until we don’t produce enough to pay for it anymore and then these States will have to go bankrupt.

Price controls Lead To Predictable Shortages, at reason.com. Socialist policies can’t stop the laws of economics. In fact economic laws eventually reveal the folly of socialist policies. Venezuela is a disaster and it isn’t getting the media coverage it deserves. I wonder why?

Electrical Workers In Fl. Are Paid 2-3X The Normal Hourly Wage And Regarded As Heroes. But Aren’t They Price Gougers? at carpediemblog. Great question. Why aren’t these workers called price gougers? By ‘political’ definition they are price gouging. If government wouldn’t have allowed them to raise the price of their labor, would they have gone down there to ‘help’?

The Much-Deserved End Of Obama’s Operation Choke Point, at freedomandprosperity.org. This is the kind of government abuse of power that most people don’t know about. Good riddance. If you haven’t heard of Operation Choke Point, check out the article.

Climate Models Run Too Hot: Settled Science Again, at reason.com. Global warming is based on ‘scientific’ models. What do you do when the models don’t match reality? Well that depends on if you’re conducting your scientific modeling because of politics or if it is a real scientific discovery process. Remember two things. Science is never settled and everything is political.

Bay Area Sues Big Oil For Billions, at zerohedge.com. San Fran and Oakland are suing oil companies for their effect on climate change. When I told my brother about this article, he asked; Can everyone who uses products made with oil also be sued? People use these products with full knowledge of what global warming scientists are saying. Even the people suing the oil companies have to use products made from oil just to survive everyday.

Study: Seattle Minimum Wage Increase Led To More Restaurant Hygiene Violations, at freebeacon.com. Here is another unintended consequence of government intervention.

San Diego Begins Bleaching Streets To Contain Outbreak Of Hepatitis A, at zerohedge.com. People take the flush toilet and indoor plumbing for granted. Fecal matter contains disease. The flush toilet takes fecal matter far away from people. The flush toilet saves lives.

 

CARTOONS

From the burningplatform.com

Political Cartoons by Glenn McCoy

Political Cartoons by Tom Stiglich

 

 

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Must Reads For The Week 9/16/17

Posted September 16, 2017 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , , , , , , ,

 

Obamacare Repeal Is Dead. Here Come The Bailouts, at reason.com, by Peter Suderman, at reason.com. Outside of the freedom caucus, Republicans never really wanted to get rid of Obamacare. Excerpt from the article: Even if congressional Republicans wanted to take another shot at rewriting the health law, they have little time left, thanks to Senate rules: The reconciliation instructions that would have allowed the bill to pass in the upper chamber with a simple majority expire at the end of the month.” Socialists of both parties want Obamacare.

If You Can’t Beat ‘Em ….Ban Em’, at ericpetersautos.com. If you can’t sell enough electric cars even with tax payer subsidies, what is your next move? Get bureaucrats to use government power to ban the sale of cars with internal combustion engines. Why would you mandate a more expensive way to travel and ban a less expensive way to travel? The only way for an economy to become and remain wealthy is increases in productivity. Banning more productive methode is how an economy becomes poorer.

Elon Musk Magically Extends Battery Life Of Teslas Fleeing Irma, at zerohedge.com. Excerpt from the article: “Tesla CEO Elon Musk has magically unlocked the batteries of every Tesla in Florida to maximize the distance that people fleeing from Hurricane Irma can travel before stopping to refuel at one of the company’s “superstation” charging centers….this is either a generous act of charity or an unnerving example of the control Tesla exercises over the vehicles it producers, or perhaps both.”

Trucker: ‘Overregulation’ Looks Like Deciding When I Work, Eat, And Sleep, by Matthew Garnett at thefederalist.com. An example of government central planners knowing more about trucking than the people who actually drive the rigs. Government busybodies know no bounds.

Republicans Furious After Trump’s DOJ Declines To Charge Lois Lerner, at zerohedge.com. This is why there is a breakdown of the rule of law. The rules only apply to us peons and not to our betters in the ruling elite.

FDA: To Keep Your Kid From Peanut Allergy, Introduce Peanuts Early, by Joy Pullman, at thefederalist.com. Try to protect kids from germs and allergens when they are young makes them more susceptible as they grow older. Don’t try to be smarter than the human immune system. It has a purpose. Let it work.

Hey Advertisers: The Data-Mining Emperor Has No Clothes, by Charles Hugh Smith, at oftwominds.com. Excerpt from the article: “The data-mining advertisement industry as it stands can’t identify which clicks are fraudulent or accidental, which ads actually trigger a sale, or which ads actually alienate potential customers. When a big advertiser pulls its online adverts and its sales remain unchanged, that tells everyone who’s paying attention something important: the industry isn’t doing a very good job for the billions it’s being paid.” As for me. I don’t pay any attention to any advertisements. The reliance on data and algorithms to predict outcomes can’t overcome the most important fundamental in economics; Human Action. Human action guarantees one thing; predicting is unpredictable.

ECONOMIC STUFF

3 Good Things About “Price Gouging“, Robert P. Murphy, at mises.org. Prices convey knowledge to producers and consumers about the supply of and demand for scarce resources. Resources are scarce under normal market conditions and have to be rationed some how. Prices are the most efficient and “fair” (I can’t believe I just used the dreaded four letter “F’ word) way to accomplish the rationing of these scarce resources. How much more are free-flowing prices needed when a disaster hits and resources become more scarce?

In an unrelated article: Which Do You Prefer: High Prices For Goods That Are Available vs. Low Prices For Goods That Are Not Available, by Mark J. Perry, at carpediemblog. When bureaucrats and politicians set price floors and ceilings on scarce goods, this will be your choice.

In another unrelated article from Mark J. Perry: Photo Of The Day: If Only There Were Some Market Mechanism To Discourage This Type Of Over-Buying. This photo shows why there should be no price controls. Let prices do their job. Free market prices utilize more knowledge than a whole army of bureaucrats and macro economists could ever possess.

How The Feds Blocked Effective Flood Insurance, by Dale Steinreich, at mises.org. When bureaucrats intervene in the market, knowledge about real world circumstances are distorted. Risk can’t be assessed properly and the cost of paying for the risk is usually shifted to the tax payer and away from the parties making the risky decision.

Does Government Spending Create More Economic Growth? by Frank Shostak, at mises.org. Government produces nothing. In order for Government to spend anything it must first take resources from producers in the real economy. So whatever amount government bureaucrats and politicians spend, is the same amount not spent by the people in the real economy because it was taken from them. Government spending produce no more economic growth than if the resources were used by the people who produced them in the real economy. In fact we can make the argument that economic growth is negative when government spends the confiscated resources. Why? Because resources are taken from wealth producers in the market and transferred to wealth consumers in the government.

 

CARTOONS

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Political Cartoons by Tom Stiglich

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Good Cops Shouldn’t Tolerate Bad Cops

Posted September 15, 2017 by austrianaddict
Categories: Government and Politics, Miscellaneous

Tags: , , ,

When a video like the one below surfaces the tendency is to say all cops are like this. Even though this video blows my mind at how stupid this cop is, I will not paint all cops with the broad brush this bad cop has placed in my hand. Not all cops are like this.

When you watch this video you will notice the other police officers, not the security guards, seem a little uncomfortable with the action this cop has taken. I think the cop whose body camera filmed this video is trying to figure out how to get out of the mess that the out of control cop has created. So why do regular cops seem to stick up for bad cops? Don’t they know that their silence about the bad cop is seen as support by default? Their inaction is in fact an action.

If you drag this video to 11:00 you will see an officer, who I think is of higher rank than the arresting officer, try to smooth over the situation. The higher ranking officer is using verbal gymnastics and a calm voice to try to confuse the nurse. He is trying to convince her that his fellow officer is in the right and the nurse is wrong. But the Nurse is right. The cops need a warrant or the person’s consent to draw blood.

When you watch the video. Try to put yourself in the nurses shoes. Try to put yourself in the arresting officers shoes, if you can. But try to put yourself in the shoes of the cop who is filming this. What would you have done if a colleague of yours acted like this?

GROUP IDENTITY

I don’t understand the mentality of sticking up for a person in your “identity group” who is not just being an ass, but is not following the rule of law. I am a white male but I have no problem saying that another white male is dead wrong. The difference is I don’t think of myself as a member of a group consisting of white males. I think of myself as an individual. For some reason people find their identity from being a member of a particular group. When you identify yourself as a member of a group and not as an individual, you have to look at criticism of another member of the group as being an attack on the whole group, and therefore an attack on you.

Each of us is a member of many groups at once. We are members of the particular family we were born into. We are male or female. We are a particular race. We have a particular religion or no religion. We work in a particular profession. We have particular hobbies. We are American or from another country. We are a Democrat, a Republican or neither. There are many groups we can choose to identify with. And that’s when the problem starts. We paint ourselves into corners that are hard to escape if our identity comes from a group. You can identify as an individual even though you are a member of many different groups. You don’t have to defend the bad people in ‘the’ group if you think of yourself as an individual first.

Watch the video. Put yourself in the nurses shoes. Put yourself in the arresting cops shoes, if that’s possible. But try to put yourself in the shoes of the cop who is filming this. What would you have done if a colleague acted like this?

 

Sheriff Forced To Pay After Ordering Raid On Blogger Who Criticized Him, at reason.com. This Sheriff should have been fired. Because of his position as sheriff, he had to know he was breaking the law. Since he is in a position of power, he should only get one strike and he’s out. It is not about him as much as it is about constraining other’s in positions of power who want to wield it against citizens.

Police Devise New Revenue Scam By Citing People Who Forget To Press Crosswalk Button, at thefreethoughtproject.com. These are the kind of petty rules that make people dislike cops. City councils should get rid of laws like this.

Forget The Violent Campus Protests – This College Cop Is Gunning For Unlicensed Hot Dog Vendors, at reason.com. Another example of a law that should not be on the books. Cops should be policing real crimes.

Police Serve Warrant To Wrong Address, Kill Man Who Lives There, at reason.com. I know that men are not perfect. We all make mistakes. But can you be sure you are at the right address! Put yourself in the shoes of the person whose door was broken down. Should the cops rules of engagement be like the military’s rules of engagement? Don’t fire until fired upon. Would a different type of person be attracted to the job if this was the rule of engagement?

The Drug Whisperer’: Drivers Arrested While Stoned Cold Sober, at wltx.com. The cop is smarter than the ‘science’ of a blood test? This has to be a violation of a persons fourth and fifth amendment rights.

What Can Happen When You Try To File A Complaint Against Police Officers

There are millions of contacts between citizens and police each day. The vast majority turn out just fine. The bad situations are not the norm. But just because the bad situations are not the norm doesn’t mean they should to be swept under the rug by the people who are supposed to investigate them.

The video below shows cops attempting to stop complaints against their fellow officers from even being filed. These cops use straw man arguments, intimidation, lying, verbal sleight of hand, and force to stop people from filing complaints. By letting the bad cops go unpunished the bad behaviour is incentivized.

This video shows how people act when they identify themselves as members of a group and not as an individual.

If cops want to identify themselves as a group, people are going to gladly give them their wish. People will begin to identify all cops by the lowest common denominator of the group.

Cops have to purge themselves of their bad apples. Or their credibility will continue to erode.

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Must Reads For The Week 9/9/17

Posted September 9, 2017 by austrianaddict
Categories: Must Reads For The Week

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Venezuelan Crisis ‘Truly Desperate,’ Bishops Tell Pope, at voanews.com. Cardinal Jorge Urosa Savino says; “The country was mired in a truly desperate situation. There are people who eat garbage and there are people who die because there is no medicine….We want to remind the Pope of this again….because the government is doing everything possible to establish a state system, totalitarian and Marxist.” I find this humorous. Why? Because the Pope is a Marxist. Venezuela is a laboratory for Marxist socialism, and the experiment is failing. The Pope probably thinks the reason for the failure is because the Marxist socialism in Venezuela isn’t being implemented by the right people. He doesn’t understand that central planning leads to “serfdom and poverty”.

Pension Ponzi Exposed: Minnesota Underfunding Triples After Tweaking This One Small Assumption, at zerohedge.com. Most of these pension plans are underfunded because they are calculating using sleight of hand math. There is not enough funding to pay for future liabilities so assets are used for current claims. At some point some one is going to have to give something up.

Kentucky Firefighters, Police Pensions Under Contention, at wlwt.com. These ‘public servants’ can retire after working 25 years. Question: Is it possible to save enough production in 25 years to fund your next 30 years of consumption during which you are not producing anything? I don’t have much respect for these people when they complain about the sweet gig they have. Excerpt from the article: “They’re seeing a direct attack on their retirement security,” Professional Fire Fighters Local A-16 President Joe Baer said. For Covington firefighter and father of four Tyler Cherry, it could set his retirement back nine years. “So when you look at planning out your life, for your wife, your children, for your wife, your retirement, all of a sudden you’re looking at eight years to 17 years is a huge difference,” Cherry, a captain in the Covington department, said. Some say the toll the job takes on the men and women who serve would make additional years of service difficult. “That can be a huge emotional drain on an individual by the time they reach that,” Alexandria Fire District Lt. Glenn Kilby said. “My family’s grown and had their own families. It’s just me and my wife. I still want to be assured that I have that income to sustain our life,” Kilby said.”

People who aren’t ‘public servants’ can’t relate to any of the comments by these ‘public servants’. Our taxes pay for your salary. Our taxes pay for your benefits. Our taxes pay for your pension. And yes our taxes pay your taxes. Shouldn’t public servants be more appreciative of what they receive? They don’t understand that the people who fund them don’t have the salaries, benefits, and pensions these ingrates have. ‘Public servants’ have no idea how their whining about salaries and benefits pisses people off.

Sacramento City council Approves ‘Advance Peace’ Program, at fox40.com. City council approves program that offers cash payments to gang members in the hope they will remain peaceful. No this is not from the ‘Onion’. Thecity council calls it an ‘Advanced Peace’ program. It is more like preemptive surrender to the criminals. What’s worse is it passed on a 9-0 vote. I know it reveals the intelligence of the council members, but does this also reveal the intelligence of the voters?

The Four Wheeled Patriot Act, at theburningplatform.com. I’ve never liked the idea of self driving cars. They are supposed to reduce the risk of human error. Since the self driving cars are made by human beings, they are prone to human error. Excerpt from the article: “…the SELF DRIVE Act will exempt automated cars from the necessity – under laws that apply to autonomous cars – of having things like steering wheels and brake pedals and other controls by which a human might intervene to save himself in the event the automated car makes a mistake. It is presumed automated cars will never make a mistake, that their systems and technology are immune to defects, wear and tear and so forth……It’s worth noting that no one is suggesting commercial airliners – which already have the ability to fly themselves, including take-off and landing – do so without human pilots standing by to step in just in case. Much less have cockpit controls removed and the now ex-pilots told to go watch a movie back in Coach….Why is it acceptable to do exactly that with machines that are more dangerous, en masse, than airliners simply by dint of numbers? There are only a few thousand airliners flying on any given day. How many millions of cars are out there?”

European Court Orders EU Countries To Take Migrants, at zerohedge.com. This is why Brexit happened. The EU has become the central planning of the sovereign European countries. Looking at the EU is like looking into the mirror and seeing what our Federal government is doing to our 50 sovereign States. The power consolidated in big government always leads to the usurpation (illegal seizure) of the rights and freedoms of individuals in the sovereign States.

In an unrelated story. Coming To A Town Near You: Expert Warns That No-Go Zones Are Growing In America, at zerohedge.com. I wish Bill Belichick was in charge of immigration policy. Any player who wants to be a part of the New England Patriots has to conform to the teams culture or he will be cut. Players know this before they become a member of the Patriots. So they do have a choice.

What Country Is This? Forced Blood Draws, Cavity Searches, And Colonoscopies, at zerohedge.com. Speaking of individual rights! Is the fourth amendment a threat to the power of the government?

Fearful Cop Mistakes Reporter’s Camera For A Gun – Opens Fire, Shoots The Innocent Man, at thefreethoughtprogect.com. Or try this headline. Ohio Police Officer Accused Of Shooting News Photographer, at huffingtonpost.com. Should you be trusted with a gun after you make a decision that is this bad? A concealed carry holder knows not to do this. Is this an example of a person who can’t perform the job properly? Or is this an example of how some police are trained? What are the ‘rules of engagement’? If you can claim after the fact that you ‘feared for your life’, isn’t that literally a get out of jail free card?

Did Imran Awan Turn On Wasserman Schultz? New Report Suggests He Led Police To Her Laptop, at zerohedge.com. In the words of Andy Griffith; “Oh what a twisted web we weave when first we practice to deceive”. Unfortunately nothing will happen to her. The rule of law doesn’t exist in our country. The ruling elites have a different set of rules than you or I do. Ask Hillary Clinton.

How Welfare States Encourage Bad Economic Thinking, at mises.org. I have gone back and forth over the years as to whether the free market can stay ahead of the growth of government regulations. I am optimistic it can. This writer is not. Excerpt from the article: “Thus, it becomes clear that the welfare state is not something that can be grudgingly tolerated as merely a parasitic nuisance. It is overoptimistic to assume that the remaining vestiges of free-market entrepreneurialism will always be able to outpace its insatiable drive toward capital consumption. Nor is it prudent to believe that the hard institutions of private property rights and market prices will be able to survive, let alone do their job effectively, with their underlying cultural foundations eroded to the core. And it is evident that welfare statism strikes at the latter at least as hard, if not more so, than it does at the former.

 

Must Reads For The Week 9/2/17

Posted September 2, 2017 by austrianaddict
Categories: Must Reads For The Week

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HURRICANE HARVEY OBSERVATIONS

“Price Gouging” = Political Rhetoric and/or Economic Ignorance!

Every time a disaster happens the term ‘price gouging’ is used to describe what happens to the pricing system when normal supply and demand is disrupted. The first rule of economics is scarcity. Man’s desires are unlimited while resources needed to satisfy these desires are scarce. This constraint of scarcity exists for any economic system, be it free market or any of the other centrally planned economic systems (socialist, communist, fascist, democratic socialist). The question we must ask is; which system best deals with this inherent constraint? In a free market, prices ration scarce resources to their most valued uses according to the subjective valuations of consumers. In a centrally planned economy, bureaucrats make the decisions on what is valuable and how scarce resources are to be rationed .

A natural disaster quickly shows how a free flow of prices conveys knowledge about where resources are needed most. Prices rising in the affected area constrains consumer demand for these scarce resources on the one hand and incentivize suppliers to bring scarce resources to the affected area on thee other. Prices coordinate supply and demand, and at the same time the coordination of supply and demand is revealed through changing prices. Price rise or fall incrementally during normal market conditions. But during disasters there are wide swings in prices.

The wild swing in prices allows political demagogues to prey on the economically ignorant. This free flow of market prices is called “Price Gouging”. Politicians win when they demagogue rising prices, and the people affected most by the disaster are hurt. Even though the people hurt most don’t realize it.

Here are some videos that explain the role of prices in a market economy.

Walter E. Williams.

John Stossel

Stossel vs. O’Reilly

This video proves Bill O’Reilly’s ignorance about economics. When he is losing the argument he cuts Stossel off and tries to play on emotion instead of logic. He then resorts to calling Stossel a ‘fascist’. These are the tactics of leftists.

People who are being charitable with their own time and money don’t need to be incentivized to “do the right thing” (supplying goods and services to the affected area). Rising prices incentivize, non charitable people (if that’s what you want to call them ), to supply much-needed goods and services to the affected area.

Gas Prices To Rise Even Faster As Tropical Storm Harvey Floods Texas, at usa.com. I heard a gentleman call into a talk show complaining about the rise in gas prices in his part of the country. He didn’t think the prices should go up since his area wasn’t affected by Harvey. This shows the economic ignorance of a vast majority of people in the country. At least 12% of the countries refining capacity is being disrupted by Harvey. Gasoline distribution infrastructure is also being disrupted. Economic law states when supply decreases against a fixed demand the price will increase. This increased price works to coordinate demand to the new reality of the decreased supply. This works to ration the scarce resource to its most valued use until supply can be brought back on-line. Allowing prices to rise allows the coordination of supply and demand to happen much faster than if prices were fixed by government.

Private Sector vs. Public Sector

Private Sector To The Rescue In Texas: Never Underestimate The Power Of The Private Sector To Rise Up To An Challenge, by Mark J. Perry, at carpediamblog. First responders are individuals on the scene at the moment something happens. Second responders are police, firemen or FEMA. In New Orleans people relied on Government to help them. In Texas people are relying on themselves to help each other. Big difference! Many people think order can only come from central planning from Government. They can’t conceive of order happening spontaneously by individuals voluntarily cooperating.

EPA Approves Emergency Fuel Waiver For Texas, at epa.gov. The best way government can help is to get out of the way. Since refineries are down, Texas will now be allowed to purchase gasoline that is banned for use in Texas by EPA regulations. But don’t worry the lifting of the ban will expire on September 15th. Why do we need such regulations in the first place?

Thanks To Markets, Houston’s Disaster Isn’t As Bad As It Might Have Been, by Christopher Westley, at mises.org. Excerpt from the article: “At the time of this writing, 26 Harvey-related deaths have been confirmed in the United States….. imagine what the death toll would have been if a similar storm slammed into comparable population centers in the Pacific Rim, Venezuela, or other outposts of the Third World. No doubt: They would be in the thousands…… What makes Houston different has to do with property rights institutions taking root and developing there over decades, making it a center for capital investment, because capital always flows to those areas where it is most secure. The continued increase in the quantity and quality of capital over time increases wealth, allowing its owners to afford better infrastructure and safety, relative to more benighted areas that attract less capital over time. To get an idea about the effects of decades of capital formation on Houston in 2017, consider the devastation that befell Galveston in 1900, when another Category 4 hurricane swept the Texas coast and claimed about 8,000 lives.

Why Houston Doesn’t Need Federal Flood Relief, – In Four Charts, by Ryan McMaken, at mises.org. Let’s not promise federal tax dollars to be assigned for rebuilding Texas. The funds will be subject to crony political distribution. And where ever there is a pile of Federal dollars there will be no shortage of people, who don’t need the money, trying to appropriate it. Excerpt from the article: “This isn’t to say real sharing and kindness are a bad thing. It’s excellent that private charities have already been hard at work helping with the cleanup in Houston. If one wants to insist that governments be involved, there’s nothing stopping other states from handing over funds to Texas directly. The federal government need not be involved at all

The Broken Window Fallacy Hasn’t Been Brought Up…. Yet!

Maybe we have won the war against ‘The Broken Window Fallacy‘. Usually after disasters like this we start to hear ‘experts’ talk about how the disaster will help the economy because of all the jobs created to replace and rebuild the things that were destroyed. I guess that sounds logical on its face, but if we remember our lessons from Frederic Bastiat we should look at what is seen, we should look at what is not seen. You will see the people employed in the rebuilding process. What you don’t see is what could have been done with all the resources, capital, time and labor used for the rebuild. The economy as a whole has less wealth because of a disaster. Everything that was destroyed has to be replaced just to get back to even par. If your car is destroyed. Not only do you not have a car, you won’t have what you could have purchased with the money used to replace your car. The economy as a whole, and you, are poorer by 1 car. The car was a useful good and was destroyed long before its normal replacement time. The broken window fallacy is simply the idea that consumption creates wealth. Production creates wealth. Consumption is the destruction of wealth.

Media / Politics

Fake News About Hurricane Harvey Is Why Americans Hate The Media, at thefederalist.com. This is just one example why the mainstream media has lost credibility.

Trump To Donate $1 Million To Texas Recovery, at cnn.com. I’m not a fan of people being public about their giving. Here is an excerpt from article: “President Donald Trump will donate $1 million of his fortune to recovery efforts in Texas……”

Hillary Clinton To Tell Audiences Her ‘Personal, Raw, Detailed and Surprisingly Funny Story’ In Nationwide Tour With Tickets Selling For Up To $1,200, at dailymail.co.uk. I wonder if Hillary is going to donate these proceeds to the recovery efforts in Texas? Or is she going to give some of he money donated to the Clinton Global Initiative for relief efforts in Texas? Oh! I forgot. Donations to the Clinton Global Initiative have dried up since Hillary lost the Election! Maybe Hillary and Bill will just have to give some of their fortune to the relief effort?

CARTOONS

From therightreason.net.

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Must Reads For The Week 8/26/17

Posted August 26, 2017 by austrianaddict
Categories: Must Reads For The Week

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Sears Death Spiral Accelerates: Vendors Halt Shipments As Cost Of Default Insurance Soars, at zerohedge.com. This is an example of a company not keeping up with a changing market. What is interesting is Sears started as a mail order warehouse business similar to Amazon today. As population changed from rural and cities to suburbs Sears began to open brick and mortar stores. It became the largest retailer in the US until 1989. It is amazing that Sears doesn’t remember it’s mail order roots, as internet sales is similar to what their original mail order business was. The company which started as a mail order company is about to go under because of the competition from on-line businesses. No company owns a share of the market at any time as long as others are allowed to compete. Sears would have been better off lobbying Government to make selling on the internet illegal. That is what a true crony business would do.

Tesla Is The World’s 4th Largest Automaker (Despite Only Selling 76,000 Cars In 2016) at zerohedge.com. Excerpt from the article: “Tesla is producing less than 1% as many cars as GM, but is worth more in market value.” Tesla’s value is based on expectations of future sales. The fact that Tesla is being subsidized by tax dollars creates a distortion about the reality of its future sales. This is crony capitalism at its best or worst.

Are Central Banks Nationalizing The Economy, by Daniel Lacalle, at mises.org. Excerpt from the article: “ The government is not issuing “productive money” just a promise of higher revenues from higher taxes, higher prices or confiscation of wealth in the future. Money supply growth is a loan that government borrows but we, citizens, pay. The payment comes with the destruction of purchasing power and confiscation of wealth via devaluation and inflation. The “wealth effect” of stocks and bonds rising is inexistent for the vast majority of citizens, as more than 90% of average household wealth is in deposits. In fact, massive monetization of debt is just a way of perpetuating and strengthening the crowding-out effect of the public sector over the private sector. It is a de facto nationalization. Because the central bank does not go “bankrupt,” it just transfers its financial imbalances to private banks, businesses, and families.

The Relationship Between Saving And Money, by Frank Shostak, at mises.org. This article explains the difference between real savings and money. Excerpt from the article: “Saving as such has nothing to do with money. It is the amount of final consumer goods produced in excess of present consumption……It is not money that funds economic activity but the saved pool of final consumer goods. The existence of money only facilitates the flow of the real savings.

Grab A Beer In Philadelphia, The Soda Is Too Damn Expensive, at zerohedge.com. When a soda tax makes soda more expensive than beer, we shouldn’t be surprised when more people choose to buy beer. Will the government be held liable if we start to see an increase in drunken driving accidents?

The Eclipse: How Markets Could Have Prevented The “Traffic Nightmare“, by Ryan McMaken, at mises.org. After the eclipse there were more cars trying to travel on the highways than there was room on the highways. It was a situation of overcapacity. More demand than supply. Short supply can be rationed by increasing prices or by waiting in line. Since there was no way to make people pay, long lines were the default position.

How Welfare States Make Us Less Civilized, by Per Bylund, at mises.org. In a market people have to cooperate to get what they want. The freer the market the more civilized we become. Welfare doesn’t promote cooperation. The welfare state forcibly takes goods from producers and gives a portion of the stolen goods to non producers while keeping a portion of the stolen goods for the state. The people who are having their production stolen don’t have warm fuzzy feelings for the other two groups. The people receiving the stolen money feel entitled. And the politicians feel the increase of their power.

Overall The NFL Gets A Letter Grade Of A+ For Players” Race, But an F- For Kickers And Punters, by Mark J. Perry, at carpediemblog. Sports is great because it rewards value. Why does it reward value? Because coaches are being paid to win. And winning or getting fired incentivizes coaches to keep players because of the value they consistently produce.

Mizzou Pays A Price For Appeasing The Left, at theburningplatform.com. College administrations don’t have to give in to the leftist radicals causing problems on campuses. The fact that they do tells us they either agree with the radicals, or they are surrendering because they are cowards. The only way to change the behaviour of the administration is to make them fear losing revenue more than they either fear the radicals or agree with the radicals.

Europe Is Committing Demographic Suicide, at zerohedge.com. The Muslims are playing the long game. Excerpt from the article: “Europe is committing demographic suicide, systematically depopulating itself in what British historian Niall Ferguson has called “the greatest sustained reduction in European population since the Black Death in the fourteenth century…..Europe’s Muslims appear to be dreaming of filling this vacuum……Muslim believers know very well that their fertility is such today, that they call it…the Great Replacement. They tell you in a very calm, very positive way: ‘One day all this, all this will be ours’ ….

Police Report: Crazed Kennedy Behavior That Got Them Arrested, at targetliberty.com. It’s not surprising that politically connected families think they are above the law.

Former U.S. Attorney On Awan Indictment: “There Is Something Very Strange Going On Here”, at zerohedge.com. This story is a perfect example of why the mainstream media is being called fake news. This story is not fake which is why the mainstream media is not covering it. They advance their ideology not just by deciding which stories we should know, but also deciding which stories they think we don’t need to know. This is fake news by omission.

CARTOONS

Political Cartoons by Tom Stiglich

Political Cartoons by Steve Kelley

 

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‘The Onion’ Can’t Compete With The ‘Real’ News.

Posted August 23, 2017 by austrianaddict
Categories: Miscellaneous

Tags: , , , , ,
Sense vs Nonsense - Traffic sign with two options - meaningfulness and usefulness based on reason and vs stupid, silly and illogical absurdity

How can the ‘fake’ news ‘Onion’ stay in business when it can’t compete with the humor provided by the ‘real’ news?

‘The ONION’ couldn’t make up these two (real) stories:

ESPN Removes Robert Lee From Calling U-Va Game In Charlottesville Because Of His Name, – The Washington Post.

Traveler, USC Mascot, Comes Under Scrutiny For Having A Name Similar To Robert E. Lee’s Horse, – The LA Times.

Here is a story The ONION came up with: Six Flags Removes Confederate Flag.

Which is better?

How absurd have the squeaky wheels and the media become when a ‘Real Fake News Paper’, which is trying to be funny, can’t come close to being as funny as the ‘real’ news stories which are supposedly serious.

The good news is a majority of people can’t relate to this absurdity. And as the media continues to cover the behaviour of the people on the fringe, more people will see it for what it is and stand against it.

 

THE SILLIEST GENERATION

Victor Davis Hanson’s recent article titled: The Silliest Generation,  gives great insight into the world in which we live. It makes you think, which is always a good thing. Here are some excerpts from the article:

“Every generation, in its modesty, used to think the prior one was far better. Tom Brokaw coined “The Greatest Generation” to remind Americans of what our fathers endured during the Depression and World War II—with the implicit message that we might not have been able to do what they did.””

Yet what is strange about the present age is that our current generation uniquely believes just the opposite. Apparently, we believe that most cadres before us were not up to our standards. Indeed, we are having to clean up their messes of racism, sexism, homophobia, nativism, xenophobia, and Islamophobia, as well as environmental desecration and global warming.”

“Apparently, proof our generation’s genius is that no one in the past had a clue how to build an iPhone or do a Google search—or even make a good Starbucks Teavana shaken pineapple black tea infusion. Yet given our own present lack of humility and meager accomplishments, we have combined arrogance with ignorance to become the smuggest generation in memory. What good is the high-tech acceleration in delivering information if there is now precious little learning to be accelerated? Google is an impressive pump, but if there is no real water, what is the point of delivering nothing faster?”

“For the silliest generation, human nature should somehow be seen as perfectible as a smartphone app. So no wonder we allow no glitches in the way people talk or think, if we sense they dare to deviate from our programmed correctness.”

“Rhetoric trumps muscle. The majority of Americans no longer work with their hands, grow food, make or build things, and they are paid quite handsomely to avoid such drudgery. But the result on society at large is that abstraction rules over practicality, and nature remains theoretical and deified rather than concrete and thus sometimes feared.”

“Those who sit at desks all day believe nature is mastered as easily as the temperature control in their offices—without much acknowledgement that different sorts of people are pumping natural gas to heat turbines to make electricity to send it into high-rises—and it isn’t always easy or clean. Techies love four-wheel drive cars, hiking boots, and parkas, as if by being prepared to go anywhere they can feel good about going nowhere.”

“The more technologically sophisticated we become, the more like a Mycenaean top-heavy palace we grow vulnerable. If the grid goes down, will those in Menlo Park learn that food is not grown at Whole Foods or that there is no such thing as a raisin plant?”

“This present generation’s impulse to play judge, jury, and executioner of the culpable of our past takes for granted that it does so as the moral superior of our forefathers. But that premise is an unfounded assumption.”

 

Related Article – If you liked that article, you might want to read another recent article by Victor Davis Hanson titled: Our War Against Memory.