Must Reads For The Week 8/15/15
Fed Finally Figures Out Soaring Student Debt Is Reason For Exploding College Costs, at zerohedge.com. The Fed has figured out that when money, from debt and money printing, is injected into a particular area of the economy, it raises the price (creates a bubble). Does this revelation hold true for all of the Feds printed money that has gone into the stock market?
The Doctor Won’t See You Now, at Forbes.com. The laws of economics will be strictly obeyed. The money quote from the article, “Many exchange policies limit patients’ choices of doctors and hospitals in order to keep premiums down in the face of Obamacare’s intrusive regulations and costly mandates.” Who could have predicted that?
Navajo Nation Vows To Hold EPA Accountable, at zerohedge.com. The EPA is responsible for releasing
1 Million, 3 Million gallons of toxic waste water into Colorado’s Animus River. Like all Government agencies they are currently blaming the contractor for the accident. Tough luck for New Mexico and Utah who are downstream from the toxic release. I haven’t heard a peep from the media or environmental groups about this. I guess it’s neither illegal nor a big deal if the government does it. I wish the Navajo nation good luck in any lawsuit. It’s great to be the tyrant, king!
Did EPA Intentionally Poison Animus River To Secure SuperFund Money?, at zerohedge.com. It appears that a retired geologist predicted that the EPA would foul the Animus River a week before it actually occurred. The implications of his accusations are chilling. Never let a good crisis go to waste?
The Battle Intensifies: Police Raid Uber’s Hong Kong Office, at economicpolicyjournal.com. Car Wars! Return of the Jitneys continues. At this point, a rational government would realize they can’t put the genie back in the bottle. Protecting special interests always trumps rationality but it can’t defeat the basic laws of economics.
Going Breadless in Venezuela, at economicpolicyjournal.com. Socialism and price controls rear their ugly head again as bread shortages are the new norm in Venezuela. Weren’t there food riots last week? Don’t they have a toilet paper shortage as well? Hey, let them eat cake! Sorry, that’s reserved for the rulers.
Minimum Wage Effect?, at Carpe Diem Blog. January to June job losses for Seattle area restaurants reaches 1300. While there are many reasons for declining employment, artificially raising the price of labor means you will have less of it. Businesses must make adjustments to increased costs. My guess is that one unintended consequence will be less tipping for servers.
China’s Currency Policy: Devastating Manipulation or a Form of Generous Foreign Aid to Americans?, at Carpe Diem Blog. This is a very different take on China’s recent efforts to devalue their currency. Government intervention in currency whether it is printing counterfeit money, zero point interest rates, fractional reserve banking, or devaluing will always have unforeseen and negative consequences. As for devaluing currency, how do you jump off a cliff halfway?
The Disturbing Messages In Police Recruiting Videos, at The Washington Post. You don’t have to watch all the videos to get the point. Why would you stress violent confrontation in your recruiting videos? Even the Marine Corps doesn’t do that and they have the best military recruiting videos bar none. If it is part of the recruiting tactics then it is likely the emphasis of their training. When the only tool you have is a hammer, everything looks like a nail. Make sure you check out the last recruiting video by the Decatur Alabama police. Quite the difference!
Serfdom USA!, at economicpolicyjournal.com. Let’s end the week with some laughs. This is for all of the true Austrian Economics Addicts out there.
Tags: Affordable Care Act, Car Wars, China currency manipulation, Colorado Toxic Spill, Don't Tip In Seattle, Electronically Printing Counterfeit Money, EPA, F.A. Hayek, Friedrich Hayek, Government Intervention, Growing Police State, High College Costs, Minimum wage, Minimum Wage Laws, Never let a crisis go to waste, Obamacare, Police violence, Road to Serfdom, Student Loan Debt, Taxi Cartel, Uber, Venezuela Food Riots, Venezuela ShortagesYou can comment below, or link to this permanent URL from your own site.