Must Reads For The Week 11/15/14
China’s Latest Ghost Town: A $50 Billion Fake Replica Of Manhattan, at zerohedge.com. If you build it they will come. Not really. Printing counterfeit money by China’s central bank has created a real estate bubble that can’t be supported by economic reality. When counterfeit money is created and pushed into and economy, it creates counterfeit economic activity. These counterfeit activities will eventually be liquidated. Scarce resources, land, and labor that could have been used in real economic activity is instead wasted on activities that was made possible by the central banks counterfeit money.
Venezuela Using Fingerprint Scanners To Ration Food Basics Including Milk, at economicpolicyjournal.com. Free market prices coordinate production and consumption. When prices are fixed by central planners in Government, information about supply and demand is distorted and shortages are the result. Prices ration scarce resources in a free market, and Government planners ration scarce resources in a centrally planned system. If you don’t know someone important in Government, expect to be hungry.
The Fed’s Paint By The Numbers Delusion About The Labor Market, by David Stockman, at davidstockmanscontracorner.com. Look at the charts in this article to see what is really happening in the labor market.
Reducing Capital gains Taxes Would Encourage Investment And Grow Canada’s Economy, at fraserinstitute.org. Rolling back Government intervention, no matter how small, will encourage economic activity. Governor Scott Walker didn’t roll back government very much in Wisconsin and the States economy improved. What would happen economically in the US if Government intervention was rolled back by just 5%?
Landrieu Pushes Keystone Vote In Bid To Boost Energy Industry, Runoff Chances, at foxnews.com. If she truly wanted to boost the energy industry, Senator Landrieu would have been pushing this for the last 4 years. The only reason she is pushing this now is to save her political skin. I hate politics because staying in power is the over-riding incentive in every decision politicians make. Public servants, or self servants? You decide.
Africa: A Tragic Continent, by Walter E. Williams, at jewishworldreview.com. The answer to all of our problems in America is, in the words of Dr. Williams, ” a political system in which there are guarantees of private property rights, free markets,…and the rule of law.” Unfortunately, as Joseph Sobran said decades ago, “the constitution is no threat to our current form of Government.”
Legislators Block Low-Cost Eye Exams In Michigan, by Anne Schieber, at michigancapitalconfidencial.com. Either Government wants to make decisions for us because they 1) think they are smarter than us, or 2) they want to protect status quo businesses who disdain competition. Either way we loose. I saw this article at carpe diem blog.
Five Things That Used To Be Free, But Aren’t Anymore, at economicpolicyjournal.com.
I Love Cell Phone Cameras, at targetliberty.com. The more police overstep their authority when dealing with the people they are supposed to “serve”, the more citizens will escalate their resistance to cops. The young men obviously have no respect for the police, and with good reason. The good will, that was accorded fireman and cops after 9/11, no longer exists. Who’s fault is it? The militarization of police forces started the escalation.
Tags: Africa: A Tragic Continent, Block Low Cost Eye Exams, Cell Phone Cameras, China's Ghost Towns, Gender Equity For Traffic Lights, Growing Economy, Joseph Sobran, Landrieu And Keystone Pipeline, Michigan Legislators, Police Over Reach, Reducing Capital Gains Taxes, The Fed And Labor Markets, Venezuela - Socialism Doesn't Work, Venezuela Rationing Food, Walter E. WilliamsYou can comment below, or link to this permanent URL from your own site.