Must Reads For The Week 10/ 15/ 16
Obamacare’s Demise Has Arrived, at economicpolicyjournal.com. We tried to tell everyone that economic laws wouldn’t allow Obamacare to work. Now 60% of Tennessee’s Obamacare consumers will lose their coverage in 2017. Remember when Obama said: “if you like your plan you can keep your plan.” He was lying just like he was lying about those “shovel ready jobs”. Remember when he said: “it looks like those shovel ready jobs weren’t so shovel ready.”
1.4 Million Americans Who “Like Their Healthcare Plan” Set To Lose Them In 2017, at zerohedge.com. As insurance companies pull out of Obamacare exchanges, millions are going to lose their health insurance plans. Central planning provides less care at a higher price. Markets delivers the best possible care at the lowest possible price.
The Reason LA Has 10,000 Food Trucks And Chicago Only Has 70, at economicpolicyojurnal.com. The Chicago city council’s regulations has chosen the incumbent brick and mortar restaurants over the newer food truck businesses. Monopolies can only exist with government sanction. This is like the incumbant taxi cartel trying to get local governments to stop Uber from entering the market.
How Crony Contact Lens Manufacturers Are Trying To Destroy The Free Market In Contact Lenses, at economicpolicyjournal.com. Johnson and Johnson is trying to use government to restore its monopoly position in contact lens sales. Instead of using their time and effort to satisfy consumers, Johnson and Johnson is putting its resources toward lobbying government to regulate competitors out of business. Once again the consumer loses.
“Sharing Economy” Reveals That Licensing Laws Are Really About Shutting Down The Competition, by Brittany Hunter, at mises.org. The sharing economy has provided opportunities for individuals to start their own businesses. Existing businesses want to have the final say if these new competitors are allowed to enter the market. In a free market these existing businesses wouldn’t have the power to stop the competition. They would have to provide better service to keep their customers. Unfortunately we live in a hampered market economy where government has the power to force these competitors out of the market. Status quo businesses lobby government to get them to use force to keep competitors from entering the market. The status quo gains at the expense of the consumer and the upstart businesses.
When Government Fails Papa John Delivers, at economicpolicyjournal.com. An 87 year old Florida grandmother lost power last week because of Hurricane Matthew. Her family, who lived in Nebraska, couldn’t get a hold of her. They called area police and fire departments to get them to reach her to see if she was OK. When police and fire couldn’t get the job done, the grandson decided to call Papa Johns and have a pizza delivered to his grandmother. If it could be delivered, they knew she was OK. They had the delivery man call them when he arrived at her house so their grandmother could talk to them. Markets work better than government.
The Fed Who Cried Growth, by Jonathan Newman, at mises.org. The Fed can’t even predict it’s own behavior. They keep saying they will raise interest rates but for some reason they never pull the trigger. Maybe the economy isn’t in as great of shape as they are telling us it is.
Janet Yellen Tries To Explain The Elusive “Great Recovery”, at zerohedge.com. When you read, or worse yet, listen to one of these Fed central bankers talk it is mind boggling. They use words that sound like their saying something so nuanced that regular people can’t understand their brilliance, but they are actually saying nothing. And that is what they are trying to accomplish. Their monetary policies haven’t worked and they are trying to cover their asses with words.
Us Economy To Grow Just 1.4% In 2016 After Atlanta Fed Slashes Q3 GDP To 1.9%, Half Its Original Estimate, at zerohedge.com. The Fed can’t even print a solid GDP number, even though they have printed $4 plus trillion over the last 8 years. You would think that the policy makers at the Fed would have figured out that you have to first produce before you can consume. Money printing is consumption before production. All money printing does is allow the people who receive it to go out into the market and demand goods with pieces of paper. It is no different than if I counterfeited a $50 dollar bill and purchased $50 dollars worth of goods from a store. I would be stealing these goods just as if I had shoplifted the goods. The Fed is no different than a counterfeiter.
From the burningplatform.
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