Must Reads For The Week 4/30/16

Why Did The Industrial Revolution Occur In The United States And Not China? at economicpolicyjournal.com. Technological advance requires financing. U.S. capital markets provided the funding for these projects. But saving provided the funding of the capital markets. Being able to produce and save wealth is important if a society is to continue to advance. How much of the funding in today’s capital markets is from printed money by the Fed, and not real savings from production.

Obama Admits He Couldn’t Convince Americans About Recovery, at zerohedge.com. Obama can’t convince us because he is the only President to not have a single year of his Presidency reach 3% GDP growth. And that’s including the 4 plus trillion dollars printed by the Fed. We can’t even print our way to a high GDP number. If the President would look at the charts in this article, he would understand why we aren’t buying his propaganda about the economy.

UC Berkley Touts $15 Minimum Wage Law, Then Fires Hundreds Of Workers After It Passes, at investors.com. Hoisted on its own petard. No surprise here. You can’t pay labor above what it produces for any length of time before it gets liquidated. The economic reality that less will be consumed at a higher price is always in play. When the cost of labor is artificially set higher, fewer will be working.

Judge Decides Seattle’s ‘Trash Police’ Violates Privacy And Is Unconstitutional, at tammybruce.com. Another example of leftists trying to force their morality on the rest of us. You can’t give in to this kind of tyrannical stupidity or it will never go away.

PA Cops Have Woman’s Rectum, Vagina Searched After Traffic Stop, at copblock.org. A violation of this woman”s fourth amendment rights. She was finally released 5 hours after she was pulled over.

Social Justice Warrior Madness: USC Cancels  ‘Legends Of The Games Industry’ Event For Not Including Women  (On A Seven Man Panel), at targetliberty.org. They postponed this event, ‘In the interest of promoting diversity and inclusion’. This is the kind of nonsense that should be laughed at and mocked.

Opposition Grows To Liberal AGs Targeting Global Warming Skeptics, by Michael Bastasch at cfact.org. In response to democrat politicians and environmentalists calling for RICO investigations into groups seen as casting doubt on the theory of catastrophic global warming, Republican AGs have come out against any such investigations. By the way global warming is a ‘theory’. Isn’t it?

Obama Targets Electric Grid For Power Grab, by Larry Bell, at cfact.org. Obama said he would bankrupt coal power plants with EPA emission regulations. Look out fracking industry if Queen Hillary gets into office.

Taliban Bomber Accidentally Triggers Explosive Early, Killing Himself And 8 Other Terrorists, at tammybruce.com. My first thought when I saw this was; will this guy get the 72 virgins anyway. Does he get rewarded for his good intentions of trying to blow up infidels even though he failed? These are questions that need to be answered.

The Real Meaning Of Competition, by Peter G. Klein, at mises.org. It’s not about having the proper number of competitors in a particular industry that makes it competitive. As long as government isn’t restricting or placing  costs on the entry into these industries you have competition. We’ve written about Uber on this site. The taxi cartel trying to get government to restrict Uber’s entry into the market is an example.

The Problem Of ‘Hoarding’, by Murray Rothbard, at mises.org. Rothbard explains why the velocity of money is an answer in search of a problem.

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