Archive for the ‘Must Reads For The Week’ category

Must Reads For The Week 5/27/17

May 27, 2017

Another Insurer Quits Obamacare Leaving 25 Counties In Missouri With No Healthcare Options, at zerohedge.com. Here is another state in which Obamacare regulations are collapsing the insurance market. Unfortunately most people think the problem can be solved by implementing more regulations. Allowing individuals and businesses to make unhampered decisions in a free market is the answer. Not a perfect answer. Just the most tolerable best result possible.

Two Examples Of Ponzi Scheme Retirement Systems. This is where social security, medicare and medicaid (Obamacare) are headed. Now Puerto Rico Employee Retirement System Files For Bankruptcy, at economicpolicyjournal.com. Ponzi Scheme: What The Chicago Teachers’ Pension Fund Would Be Called It Were A Hedge Fund, at zerohedge.com.

GM Accused In Owner Lawsuit Of Using VW-Like Defeat Devices, at bloomberg.com. This the sixth car company that has been caught cheating on EPA pollution rules. The problem is the over the top EPA rules, not the companies. The companies are acting rationally. This is essentially a black market dealing with over regulation by big government.

“Sell The News: – WTI Tumbles Below $50 After OPEC Disappointment, at zerohedge.com. The OPEC Cartel has lost its power to increase the price of oil. The American shale industry (fracking) should get the credit.

Why The Crazy ‘Net Neutrality’ Demands From The Left, at economicpolicyjournal.com. The left doesn’t want more internet freedom. They want to control the internet. When the left has a choice between more government power and individual freedom they invariably choose government power.

ESPN And The Bursting Of The Sports Bubble, at William L. Anderson, at mises.org. Excerpt from the article: “ESPN is losing 10,000 subscribers every day so far in 2017. In the past six years they have lost 13 million subscribers and that subscriber loss is escalating each year.” Add this to the fact that ESPN has contracted to pay the NFL, NHL, NBA, and NCAA top dollar for broadcasting rights over the next 4 years, and we can see ESPN is on a path to lose billions of dollars. When these contracts run out these sports organizations will not be able to command as high a price for their product. These organizations will have to run on less revenue. Costs will have to be cut and normally that means the cost of labor. The amount of money for the salaries of coaches and players will decrease. More from the article: “...while it is tempting to say that “ESPN pays for this,” in reality, it is the consumer of cable/satellite television that ultimately decides the size of the ESPN payouts, and consumers are stating their preferences with their checkbooks, and there is nothing ESPN can do about it.” The consumer ultimately sets the wages of workers.

A Canadian Town Wanted A Transit System. It Hired Uber, by Craig S. Smith (NYT), at sfgate.com. What is the cost difference between a government run transit system and a market solution to a transit problem? A lot! The only problem is if tax payers dollars are going to subsidize the cost of Uber, you can bet your life that the price Uber would normally charge will increase.

Has The Drug War Incentivized Police To Treat Citizens Like Terrorists? at zerohedge.com. Incentives matter.

Class Focused On Greco-Roman Books May Be Changed After Students Complain It’s Too White, at thecollegefix.com. Why would anyone give in to such insanity? But you know Reed College will give in to the tyrannical minority. Just a thought: Didn’t Greeks and Romans have olive color or darker skin?

Some Data To Ponder Now That Calling America ‘A Land Of Opportunity’ Is considered To Be A Microaggression, at economicpolicyjournal.com. Ethnic minorities have the highest household incomes. Proving that the US is still the land of opportunity. Look at the chart in this article.

Ruperta The elephant Is Starving In A Venezuelan Zoo! Sign Petition To Get Her Transferred, at onegreenplanet.org. These environmental crazies are more worried about this elephant, than the starving people of Venezuela

Islamists Threw A Christian Politician In Jail For ‘Blasphemy’ Against Quran, at thefederalist.com. This is an example why people are afraid to say anything against Islam. But these same people have no fear of blaspheming Christianity.

Theresa May To Create New Internet That Would Be Controlled And Regulated By Government, at independent.co.uk. This is what the leftists in the US would love to be able to do.

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Must Reads For The Week 5/20/17

May 20, 2017

How The Obama Precedent Empowered Trump, by Victor Davis Hanson, at victorhanson.com. Excerpt from the article: “A supposedly disinterested media’s ecstasy over Obama’s election ensured that its subsequent revulsion at Trump could be taken no more seriously. Once a journalist declares a president a god or capable of sending shocks down one’s leg, then he would be no more credible if he were to pronounce another president the anti-Christ or capable of causing boils on one’s appendages…….A critical media is not a mere reset button that one turns on and off at one’s convenience. Instead, once it was short-circuited after 2008, its burned-out switch cannot be flipped back on in 2007. In sum, there is no longer a believable media that can offer credible critiques of the Trump presidency.”

Sock Puppets Taken To An Entirely New Level: ‘Click’ Farms Of 10,000 Phones That Give FAKE Likes, by John Lott, at johnrlott.blogspot.com. Fake likes produce fake stats about which stories are trending on social media. You now have the ability to manufacture fake outrage. Related article – Up To 15% Of Twitter Accounts Are Fake, Study Finds, at zerohedge.com.

Donald Trump’s Big Problem, He Doesn’t Understand Power, at targetliberty.com. Trump is an outsider who doesn’t understand the game played by the insiders.

Dismantle The FBI, And Give Its Money Back To The States, by Ryan McMaken, at mises.org. The FBI has turned into a big bloated money-grubbing political bureaucracy. Its goal is to make sure the FBI is declared the winner in every situation. It’s job of law enforcement can be done better and cheaper if it was decentralized. The leadership of the FBI, (not the rank and file agents), aren’t the guys wearing the white hats like they have been portrayed.

Public-Sector Unions Keep The Gravy Train Flowing To Fire Departments, by Ryan McMaken, at mises.org. Another example of “public servants” feeding at the public trough. From 1980 to 2013 fire runs have declined from 3Million to 1.24 million. In a free market, as demand for a service decreases the supply of that service shrinks also. In the public sector the opposite seems to happen. Government public servants want to protect or increase their skimming operation at the taxpayers expense. Excerpt from the article: “Don’t let these facts get in the way of the romantic view of firefighting perpetuated by popular culture. No organization loves the fantasy version of firefighting better than the public unions that lobby constantly for more lucrative salaries and benefits for firefighters.”

Wind Turbines Are Neither Clean Nor Green And They Provide Zero Global Energy, by Matt Ridley, at spectator.co.uk. Can the taxpayer subsidized experiment of green energy finally be coming to an end? All the money, resources, time, labor and capital that has been wasted on green energy, could have been used for more productive activities. Government “investment” is an oxymoron, because ‘bureaucrats’ aren’t “investing” their own money.  Wasted resources are kept to a minimum in the private sector because businesses suffer losses. But in the public sector waste continues for longer periods of time because of the seeming unlimited supply of taxpayer money.

The reality about green energy is only optional for a little while. Read these articles. Wind Power: Michigan Voters In Three Counties Reject or Restrict It, at nationalreview.com. Oklahoma Ends Wind Tax Subsidy, at instituteforenergyresearch.org. Europe Has Little Output To Show For Its Wind And Solar Investments, at instituteforenergyresearch.org.

More Solar Jobs Is A Curse, Not A Blessing, at cfact.org. More workers employed in an industry that produces higher cost energy is a bad thing. It has taken longer for economic principles to correct for these non productive uses of resources, time, labor and capital. The tax payer money that government has invested in these non productive activities has distorted the market. The inevitable correction is happening. Fortunately economic laws always win.

The Other Shoe Drops: Prime Auto Loan Losses Surge As Recoveries Tumble, at zerohedge.com. Instead of decreasing supply to match decreasing demand, the auto industry brought future demand into the present by pushing subprime loans and low payment leases. We are going to see an over-supply of used cars because the  leases have ended and also because of subprime loan defaults. There is no present demand to support the over production because demand was borrowed from the future to keep the car manufacturing plants operating in the present.

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Must Reads For The Week 5/13/17

May 13, 2017

Why Tesla’s Solar Roof Is Just Another Giant Taxpayer Gift To Elon Musk, at zerohedge.com. Elon Musk is skilled at getting his hands on taxpayer money. He is nothing more than a welfare recipient. If a business isn’t profitable without taxpayer money, it shouldn’t exist. Taxpayer money shouldn’t be given to any businesses.

The Minimum Wage Eats Restaurants, at econoicpolicyjournal.com. As the minimum wage rises via government decree. Restaurants close. If these restaurant owners were as talented as Elon Musk, they would get taxpayer dollars from government to pay for the mandated minimum wage increase.

How Fed-Enabled Zombie Companies Crush Productivity Growth, at zerohedge.com. Excerpt from the article: “When lagging firms don’t go bust, they hog scarce resources and drag down productivity…..The survival of weak companies drags down average productivity, but the consequences for growth are even worse. Since such firms take up scarce resources, their prolonged survival (or their delayed restructuring) inflates wages relative to productivity, depresses market prices and undermines investment – all of which deters the expansion of productive companies, particularly startups, and amplifies the mismatch of skills.”

On The AFL-CIO’s Inflated 341-to-1 CEO-To-Worker Pay Ratio, And The Statistical Legerdemain Used To Produce It, by Mark J. Perry, at carpediemblog. When ‘fake stats’ are never analyzed they produce ‘fake news’. The media accepts ‘fake stats’ as long as they fit the media’s vision of the world.

How Capitalism is Setting Washerwomen Free, at fee.org. Excerpt from the article: “Has anything changed the world more than the internet? …….one invention – an engine of liberation – has had a far more powerful effect on daily lives. He means the washing machine…….the greatest invention of the industrial revolution. It freed women from the chore of laundry – or at least from spending one full day a week every week doing it.”

Would You Lease – To -Own A Pair Of Sneakers, by George Pickering, at mises.org. Excerpt from the article: “Unlikely as it is that debt-financed Air Jordans will touch off the next worldwide recession, they nevertheless offer a microcosm of the forces currently forming unsustainable bubbles in an increasing number of markets throughout the economy.”

Trade Ignorance and Demagoguery, by Walter E. Williams, at jewishworldreview.com. I wish Trump would sit down with Dr. Williams for a day and learn something about economics.

California, Illinois, and New York Keep Losing People to Other States, by Ryan McMaken, at mises.org. People are voting with their feet. High taxes, increasing regulations and the high cost of living are incentives that force people to escape to greener pastures.

The Most Dangerous Book On Economics Ever Written For Kids, at economicpolicyjournal.com. The left is propagandizing children into believing capitalism is bad and communism is good.

Hero’ Stopped Mass Murder By Crazed Bar Patron Who Was Armed To The Teeth, Police Say, at dallasnews.com. Gunman who killed sports bar manager is shot by concealed carry holder. Good guy with a gun stops a bad guy with gun.

Senate Hearing Summary: Everything you Thought You  Knew About Russia/Comey Just Got Destroyed, at zerohedge.com. Does anyone outside of the Washington establishment really think this is important? This is the political game of who can make the other side look bad. The people inside the beltway don’t understand how much people outside the beltway are sickened by the political game. We don’t want to play this game or watch this game played anymore.

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Must Reads For The Week 5/6/17

May 6, 2017

FCC Chairman Ajit Pai On Why He Is Rejecting Net Neutrality Rules, at reason.com. Free speech and access to information are important tools in pushing back against the propaganda of status quo institutions. Government bureaucracies, political parties, mainstream media, the Fed and it’s banking satellites, the health system, and our education system are just a few that need their power reduced. These institutions do not like information about their skims and scams to be found out.

Why The New York Times Is Cheering On “Censorship Algorithms”, at zerohedge.com. U.S. mainstream media  wants to use algorithms to purge the internet of stories it decides is fake news. They don’t like the fact that their monopoly on information no longer exists. Every status quo institution wants to hold on to its power. Fortunately for us the internet genie is out of the bottle.

The Pope’s Favorite Straw Man: Individualism”, by Ryan McMaken, at mises.org. It is OK for the Pope to be ignorant about economics, as long as he doesn’t pontificate about economics.

ESPN Anchor Admits Network Failing Because Of Politics, at tammybruce.com. People watch sports to escape the political BS they are bombarded with everyday.

Jimmy Kimmel Opens Up About His New Born Son’s Heart Surgery And Praises Obamacare, at npr.org. Emotion is not thinking. This is why I haven’t watched any late night shows since Johnny Carson. I don’t want to be preached to by someone who is supposed to make me laugh. We are headed toward a single payer government-run healthcare system and Kimmel obviously supports this. This direction will not be stopped by the House repeal bill. Does Kimmel understand that under his desired government-run single payer system, a bureaucrat, guided by bureaucratic rules, would have decided if his son would have had the surgery or not. It wouldn’t have been his decision. Emotional pleas do not change the reality of the cost of healthcare goods and services. Government subsidies, taxes, rules and regulations created these high cost. After the costs rise, Government then passes regulations that attempt to hide or shift the costs to someone else. Getting back to a true free market in healthcare is the only way to lower healthcare costs. What are the odds of that happening?

Obamacare Implosion: Last Major Healthcare Provider Pulls Out Of Iowa Leaving No Options In 2018, at zerohedge.com. Also: Obamacare “Death Spiral”: Maryland Insurer Seeks 50% Premium Increase for 2018, at zerohedge.com. How is our centrally planned healthcare system working out?

Maduro Hands Out Free Homes, Hikes Minimum Wages To Counter Angry Protests Wave, at zerohedge.com. Free stuff and setting prices is socialist central planning. Government intervention like this is how Venezuela got into this mess in the first place. How are these policies going to improve a situation that policies like this produced?

Philly Beverage Tax Blowback: Coca Cola Sales Plunge 32%, at zerohedge.com. Who would have thought increasing the price would lead to less being consumed. This is incremental socialism.

Dakota Access Pipeline Protest Camp Is Ecological Mess. State May Sue To Recover Losses, at kfgo.com. Do as I say not as I do. These people protested the pipeline because of possible ecological disasters. In the process, they created a real ecological disaster. We should never take these kinds of people serious.

It Takes 79 Solar Workers To Produce Same Amount Of Electric Power As One Coal Worker, by Mark J. Perry, at carpediemblog. Even thought solar and wind are subsidized by tax payer dollars, they can’t match fossil fuels in producing cheap efficient energy.

Northern Arizona U. Professors Claim Student Recordings Are Part Of An Attack, at arizonadailyindependant.com. Students are pushing back against the education establishment.

Barack Obama Officially Endorses Emmanuel Macron, at zerohedge.com. Obama says the hell with influencing elections covertly. I’m going to try to influence the French election overtly. People who think that governments don’t try to influence elections are naive. Did Russia try to influence our election? Yes. Did Obama try to influence Netanyahu’s election (read here)? Yes. Did Obama try to influence the Brexit vote (read here)? Yes. Did late night shows try to influence the election? Yes. Did the mainstream media try to influence the election? Yes. Did wall street try to influence the election? Yes. Did unions try to influence the election? Yes. Did you try to influence the election? There is a big difference between trying to influence an election and tampering with the casting and counting of votes.

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at therightreasons.net

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Must Reads For The Week 4/29/17

April 29, 2017

Fannie Introduces “Innovative Solutions” Allowing Student-Debt-Laden Millennials To Buy a Home, at zerohedge.com. Government and it’s agents are creating debt-serfs for life. Unless the government forgives existing student loan debt. Of course tax payers will have to pay back the forgiven student loans. Heads they win tails we lose.

Puerto Rico Takes First Steps Toward Bankruptcy-ish Filing, at zerohedge.com. At a certain point it’s impossible to pay back the debt you incurred. The whole world, governments and individuals (read above), are heading in this direction. Thank you central banks of the world.

Why “Nothing Matters”: Central Banks Have Bought A Record $1 Trillion In Assets In 2017, at zerohedge.com. This is what we’ve been talking about forever. You can’t counterfeit and borrow your way to prosperity. This is how you steal from the future.

Yale Grad Students ‘Hunger Strike’ Apparently Involves Eating When Hungry, at foxnews.com. A few observations about this article. 1) This reminds me of our school showing solidarity for the homeless by making their own shanty town. Students made their own shelters out of cardboard boxes. Except they moved the shanty town inside the gym because it was too cold outside. 2) A “hunger strike” involving eating is redefining the term “hunger strike”, Isn’t it? 3) The university administration said, ‘they understood the students concerns, but strongly urge that students not put their health at risk or encourage others to do so’. Administrators act like these college students are children. By definition “college students” are “adults”. We’re creating a generation of wimps!

Seattle Socialist Councilwomen Kshama Sawant Calls For Shutting Down Highways and Airport On May Day, at economicpolicyjournal.com. Seattle City Council unanimously passed a resolution proclaiming City workers have a right to request off on May 1, without retaliation, to attend May Day “celebrations” (mass protests). Councilwoman Sawant wants workers and protesters to shut down highways and airports on May Day. May Day was originally a European celebration of Spring. It has been taken over by Marxists, communists and socialists to promote their statist ideology under the guise of helping workers.

Why Politicians Win (And Workers Lose) Under Socialism, by Hans Hermann-Hoppe, at mises.org. Excerpt from the article: “Socialism leads to the politicization of society….If people want to improve their income under socialism they have to move toward a more highly valued position in the hierarchy of caretakers. That takes political talent.

Under Socialized Medicine, The State Owns You, by Justin Murray, at mises.org. Remember when Candidate Obama said in 2008, “we are five days away from fundamentally transforming America”? Well, here we are. Obamacare has moved us toward a government run single payer system. No bill the Republicans pass, short of repealing all of Obamacare, can change the fundamental transformation that has taken place. State bureaucrats will eventually have to ration healthcare. Which means “death panels”.

The Best History Of How We Got High Medical Prices and Obamacare, at economicpolicyjournal.com. This video explains Market prices vs. Government regulations.

Why We Have A 2nd Amendment: Venezuela Plans To give Firearms To Loyalists To Purge Growing Resistance, at zerohedge.com. Venezuela’s slow socialist march to the bottom is upon us. When socialism destroys a countries standard of living, the leaders only recourse, if you want to stay in power, is to literally kill the people their policies impoverished.

For The Left Socialism Denial Is Holocust Denial, by Robert Trancinski, at thefederalist.com. Socialist central planning has a track record of multiple millions of people being murdered (purged) when they don’t agree with the planners plans. Hitler’s Germany, Stalin’s Russia, Mao’s China, Pol Pot’s Cambodia, Castro’s Cuba to name a few. So lets keep going down this socialist central planning road and see if the result is different! No thanks. Take a stand! Now!

 

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From theburningplatform. (more here)

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Must Reads For The Week 4/22/17

April 22, 2017

Busting The “Free College” Myth, Jonathan Newman, at mises.org. The cost doesn’t go away when something is labeled “free”. For the student, free means a new scholarship program. For the college, free means they can increase their prices. For us the tax payers, free means we’re screwed. Free means shifting the cost to someone else. To me free means the professors would teach for…….”free”.

ASU Class Holds Protest Instead Of Final Exam, by Conner Borgelt, at azcentral.com. Tax payers! Would “free college” make the present situation in our college education system better or worse?

Has A Rothbardian Infiltrated The Department Of Education, at targetliberty.com. This is a good thing

San Diego’s Experiment With Higher Minimum Wage: 4,000 Fewer Restaurant Jobs, at reason.com. This doesn’t surprise anyone, does it?

Run For Your Life: The American Police State Is Coming To Get You, by John Whitehead, at rutherford.org. Click on some of the examples in this article. You will be shocked at the abuses of power by Government officials.

Private Equity Sets Its Sites On New Funding Victim: Mom and Pop 401k’s, at zerohedge.com. Private Equity companies have destroyed many of the largest defined benefit pension plans. Now they want to try their hand at destroying defined contribution retirement plans, your 401k. They need a new source of money to fund their skimming operations.

Frederic Bastiat Is Right (Again), by Jeff Thomas, at mises.org. Protective tariffs don’t work. Bastiat told us this in the mid 1800s. The Smoot-Hawley Tariffs (along with other government interventions) helped turn the stock market crash of 1929 into the great depression. Trumps desire for tariffs on foreign goods is a bad idea.

GM Says Venezuela Has Seized Its Car Plant, at cnn.com. Venezuela’s incremental movement toward socialism over the years is almost complete. Since there are no property rights in a total socialist system, this seizure of property may be the final goose step in Venezuela’s march toward economic destruction.

Fannie And Freddie Finally Wake Up, by Doug French, at mises.org. These bad mortgages should have been liquidated (sold at a loss) when the housing bust happened in 08.

How Mises Converted Hayek From Socialism To A Supporter Of The Free Market, at economicpolicyjournal.com.

 

CELEBRATE EARTH DAY

On Earth Day, Let’s Celebrate The Benefits Of Fossil Fuels! This is my Earth Day post from two years ago.

GEORGE CARLIN- Can We Destroy The Planet?

Earth Day 2016, at austrianaddict.com.

Must Reads For The Week 4/15/17

April 14, 2017

Taxation Is Theft, by Andrew Napolitano, at mises.org. Happy tax day. Here is an excerpt from the article: “With a tax code that exceeds 72,000 pages in length and consumes more than six billion person hours per year to determine taxpayers’ taxable income, with an IRS that has become a feared law unto itself, and with a government that continues to extract more wealth from every taxpaying American every year, is it any wonder that April 15th is a day of dread in America? ……..”There are only three ways to acquire wealth in a free society. The inheritance model occurs when someone gives you wealth. The economic model occurs when you trade a skill, a talent, an asset, knowledge, sweat, energy or creativity to a willing buyer. And the mafia model occurs when a guy with a gun says”: “Give me your money or else. Which model does the government use? Why do we put up with this?

How Government Meddles In Your Easter Chocolate, by Ryan McMaken, at mises.org. Government tariffs drives up the price consumers pay for chocolate, and also push down the wages of Cacao farmers.

NY Leads 10-State Lawsuit Against Trump Administration Over Stalled Pollution Rules, at huffingtonpost.com. Check out this line up. New York, California, Connecticut, Illinois, Maine, Massachusetts, Oregon Vermont, Washington, Pennsylvania, and NY City are suing to get these laws reinstated. Why doesn’t each of these states pass legislation that makes these efficiency standards laws in their states? Leave us alone we are fine with reduced standards.

If You’re Wondering Why Trump Can Just Bomb Countries; Ask Obama, Busch, and Clinton, at zerohedge.com. What Trump did was nothing new! Does anybody remember that last 25 years?

Which Graduate Degree Gets You Out Of Debt The Fastest, at zerohedge.com. Do some research before you choose your degree.

Students ‘Fear’ Chick-Fil-A Will  Jeopardize ‘Safe Place‘, at campusreform.com. What degrees to you think these students are going for?

New York Could Become Largest State To Offer Tuition-Free Public Higher Education, at washingtonpost.com. Free! I don’t think the greedy professors are going to teach for free, do you? Free means the cost gets shifted to the taxpayer. Get back in the bottom of the ship with Ben Hur and keep rowing.

Donald Trump’s Travel Expenses In 10 Weeks Cost Taxpayers As Much As Obama Spent In Two Years, independant.co.uk, We slammed Obama so we are going to slam Trump. STOP IT.

Sweden’s Largest Newspaper Demands “Ban Men In Cars To Stop Terror“, at  zerohedge.com. Here is headline I thought could have been from the Onion. I always say, “unbelievable”. But I guess it shouldn’t surprise anyone. Should it?

Cyborgs At Work: Employees Getting Implants With Microchips, at dcourier.com. Workers have a microchip planted in the tissue between your thumb and fore finger. It is used like a swipe card to open doors, operate machines, and to purchase things. There are government central planners all over the world that are loving this idea.

The Worlds Worst Economist, at economicpolicyjournal.com. Venezuela is living proof that big government central planning creates economic disaster. Economist Mark Weisbrot supported the policies that brought about the collapse. Another example of credentialed ignorance.

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