Must Reads For The Week 6/10/17

WTI Holds Below $48 As US Oil Rig Count Rises For 20th Week In A Row, at zerohedge.com. The American shale industry (fracking) has defeated the OPEC cartel.

Russia’s Economy Minister: “We Can Live forever At $40 Oil“, at zerohedge.com. They don’t have a choice.

The Latest Solar Scam: “Investing” In “solar Timeshares” aka “Community Solar Gardens.” Only $100/Month For 20 Years, by Mark M. Perry, at carpediemblog. I guess the phrase “community solar garden” doesn’t sound like a scam to people who lean left. That phrase would set of warning bells in my head.

35,000 Off Alabama’s Food Stamp Rolls Due To New Work Requirements, at al.com. Incentives matter.

People Not In The Work Force Soar By 608,000, at zerohedge.com. There are 94.983 million working age people not in the work force. That means only 62.7% of working age people have jobs. This the lowest participation rate since the late 70’s. More people consuming without corresponding production eventually doesn’t work out well. Does it?

Business License Required For Teens To Cut Grass, at abc3340.com. Here is an example of government constraining the economic activity teens. Mowing grass as a teen is where kids learn that production comes before consumption and many other lessons.

Chicago Cab Industry Collapsing as Medallion Foreclosures Soar, at zerohedge.com. What fracking has done to the OPEC cartel, ride sharing apps like Uber and Lyft are doing to the Taxi Cartel. Market forces are more powerful than government decrees.

Kid Zuckerberg’s Generosity With Your Money, at economicpolicyjournal.com. The “new” idea of universal basic income isn’t new at all. Excerpt from the article: “…..”universal basic income” goes back to at least the mid-19th century and the world’s most famous drunk, Karl Marx. Except Marx called it communism, a word that didn’t attempt to hide its connection to one of the most dreaded words in the English language – commune or communal.

Anthem To Exit 2018 Obamacare Exchange, at businessinsider.com. It seems like every other week we have another story about an insurance company getting out of the Obamacare exchanges. Once again we have an example of economic reality being more powerful than government decrees.

Healthcare: “Insurance” Now Means Redistribution, by Gary Galles, at mises.org. What we call healthcare insurance today is not insurance at all. Excerpt from the article: “How do we know insurance is not the real issue? Because claimed ‘reforms’ violate so many principles of insurance. Insurance is about reducing risk in the face of uncertain events. But insuring things that would happen for certain, say annual checkups, offers no risk reduction – it offers no benefits to weigh against the added costs of insurance administration that must be borne – yet such coverage is frequently mandated….….”

This Is How Bad It Is In Connecticut: The State May Start Issuing “Puerto Rico” Bonds, at economicpolicyjournal.com. Who would have thought that raising taxes on high income earners would create an incentive for them to move to a lower tax state?

Trump Deflates Paris: Nod To James Hansen, Rebuke To John Holdren, at masterresource.com. excerpt from the article: “The good news is that the Paris climate agreement, weak and aspirational to begin with, will increasingly to the way of the Kyoto Protocol. President Trump did a big favor for the US and the world by pulling out.

 

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