More Random Thoughts By Thomas Sowell

Posted May 28, 2014 by austrianaddict
Categories: Miscellaneous

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Thomas Sowell

Dr. Thomas Sowell is my favorite author and his random thoughts columns are always instant classics. Nobody is better at wading through the BS and finding the golden nugget in every situation.

Here are a few samples from his recent Random Thoughts column.

“Will the Veterans Administration scandal wake up those people who have been blithely saying that what we need is a “single payer” system for medical care? Delays in getting to see a doctor have been a common denominator in government-run medical systems in England, Canada and Australia, among other places.”

“Some people act as if the answer to every problem is to put more money and power in the hands of politicians.”

“Those people who want Hillary Clinton elected president, so that we could have our first woman president, seem to have learned absolutely nothing from the current disaster of choosing a president on the basis of demographics and symbolism.”

“The old saying that “politics is the art of the possible” is dead wrong. Politics is the art of making the impossible seem possible, and even plausible and desirable. That is how ObamaCare got passed”

A Few Short Thomas Sowell Videos.

Equality As A False Norm.

 

We Can’t All Be Made The Same.

 

 

Related ArticleRandom Thoughts by Thomas Sowell, at austrianaddict.com.

Related ArticleThomas Sowell’s Random Thoughts, at austrianaddict.com.

Related ArticleThomas Sowell’s Random Thoughts, at austrianaddict.com.

Related ArticleRandom Thoughts and Other Thoughts, by Thomas Sowell, at austrianaddict.com.

 

 

 

 

Must Reads For The Week 5/24/14

Posted May 24, 2014 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , ,
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

Net Worth Of College Grads With Student Debt Is 20% Less Than High School Grads With No Debt, at zerohedge.com. We’ve been told that a college education is an investment in the student’s future. In reality a college education is simply a redistribution of a graduates present and future labor to the federal government who gave them the loan, and the college who received the loaned money. It’s similar to what happened in the housing bubble. But in this case, the university gets the immediate payment, and the Government gets a steady payment of interest, and principle which was probably electronically printed counterfeit money. Read, Young People Get Hooked Into Huge Debt When They Take The Student Loan Bait, and also, Follow Up To Student Debt Post.

Obama Administration Using Scare Tactics To Discourage Government Whistleblowers, at economicpolicyjournal.com. The most “transparent administration” doesn’t want the whistleblower to show what is behind the curtain. Politicians and bureaucrats want to be able to see everything we do, and hide everything they do, unless of course it can be used for political gain.

Mark Cuban: “I’m Bigoted In A Lot Of Different Ways, at economicpolicyjournal.com. You discriminate against everyone else when you choose certain people to be your friends. You discriminate when you choose which person to marry, which plumber to use, which players to keep on your basketball team, which restaurant gets your money. All of us discriminate daily.

Michelle’s: “Eat What I Tell You” Program Is Crashing, at economidpolicyjournal.com. Excerpt from the article, “Local nutrition directors are demanding more flexibility and freedom. Look no further than school districts in Los Angeles and Chicago.” If local directors want more freedom to make decisions, that must mean that The Health Hunger Free Kids Act took away these freedoms when it was passed. Every Government rule takes away individual freedom. In this case it’s the freedom to choose what you want to eat, and the freedom to provide what people want to consume.

Jaguar Attacks Crocodile, this video is unbelievable.

Super Cell Time Lapse 5/18/14  Wright to New Castle, WY. at Basehunters Chasing. Truly amazing video of a super cell forming and dissipating.

The Next Obamacare Scandal: A Taxpayer – Funded Bailout Of Insurers, at zerohedge.com. Now we know why insurance companies were for Obamacare. They were going to be the next, “too big to fail industry”, that would be bailed out by the tax payer. So let me get this straight, our insurance premiums go up, and we also have to pay for the insurance company’s potential bailout. The Affordable Care Act isn’t really affordable for us.

Housing More Unsound Now Than During The Last Bubble, at zerohedge.com. The Fed has been buying mortgage backed securities for some time now. They are taking bad paper off the market and hiding on their balance sheet. This has cleared the way for another round of bad mortgages to be created. The Fed is a one trick pony and that trick is electronically printing counterfeit money. Read Housing Recovery, Or Just Another Bubble.

Why Central Bank Stimulus Cannot Stimulate An Economic Recovery, by Patrick Barron, at patrickbarronblogspot.com. This is a really good article and will be our heavy lifting for the week. Here are excerpts  from the article, “…Keynes tried to prove that production followed demand and not the other way around……. Keynesian aggregate demand theory is nothing more than a justification for counterfeiting. It is a theory of capital consumption and ignores the irrefutable fact that production is required prior to consumption….The consequence of this violation of Say’s Law is capital malinvestment, the opposite of the central bank’s goal of economic stimulus. Central bank economists make the crucial error of confusing GDP spending frenzy with sustainable economic activity. They are measuring capital consumption, not production.” 

I saw these two pictures at libertariangirl facebook.

Photo

 

Hal Redden's photo.

 

Best Commencement Speech Ever? Adm. McCraven Gets My Vote

Posted May 23, 2014 by austrianaddict
Categories: Hall of Fame, Miscellaneous

Tags: , , , ,

The commander of the U.S. Special Operations Command, U.S. Adm. William H. McCraven, gave the commencement speech at the University of Texas last Saturday May 17. It was one of the best commencement speeches you will ever hear.

He lists 10 things to do if you want to change the world. He relates how he learned these things through SEAL training. The first is simply: “make your bed every morning. You will have accomplished the first task of the day. It will give you a small sense of pride and it will encourage you to do another task, and another, and another. By the end of the day that one task completed will have turned into many tasks completed.”

Here is the speech.

 

He ends by summarizing these 10 things: “…you are the class that can affect the lives of 800 million people in the next century. Start each day with a task completed, find someone to help you through life, respect everyone, know that life is not fair, and you will fail often, but if you take some risks, step up when the times are the toughest, face down the bullies, lift up the down trodden, and never give up; If you do these things, the next generation and the generations that follow will live in a world far better than the one we have today. And what started here will indeed have changed the world for the better.”

Freedom Of Religion?

Posted May 22, 2014 by austrianaddict
Categories: Miscellaneous

Tags: , , ,

 

I heard about the woman being sentenced to death in Sudan for converting to Christianity. Read about it here, Sudanese Woman Sentenced To Death For Not Renouncing Her Christian Faith. She is married to an American citizen, and is also pregnant.

Quote from the article, “The court in Khartoum ruled that Ibrahim must give birth and nurse her baby before being executed, but must receive 100 lashes immediately after having her baby for adultery — for having relations with her Christian husband.” Now this is a real “war on women”, not a made up war on women that the democrats use for political purposes. I was just thinking: is the pro abortion crowd more upset that she’s being forced to carry her baby to term, or that she is being put to death?

Here’s another quote from the article, “…. the U.S. State Department said it was “deeply disturbed” by the ruling, which…..” Just thinking again: Is being “deeply disturbed” a tougher stance than being “deeply concerned”?

Here’s another quote from the article, “Sudan’s penal code criminalizes the conversion of Muslims into other religions, which is punishable by death. Muslim women in Sudan are further prohibited from marrying non-Muslims, although Muslim men are permitted to marry outside their faith.” So I guess under Islamic Sharia law you still have freedom of religion, it’s just the cost of choosing anything other than Islam is very higher, if not prohibitive. And people over here say they feel uncomfortable when God is mentioned by a speaker at a graduation ceremony.

This Judges ruling is under appeal and could be overturned. If it is over turned, will they impeach the judge who made the original ruling? If they don’t, who in their right mind would want this judge ruling in their case?

Even though it is politically incorrect to say, the truth is, all cultures aren’t equal, some are better than others. Why? Because people are different and these differences produce inequality.

 

Must Reads For The Week 5/17/14

Posted May 17, 2014 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , , ,
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

People Go Bananas Over Monkey Parking, by Alexia Tsotsis, at techcrunch.com. Another example of technology economizing on information. Since drivers are willing to pay for the information about open parking spots, the cost of the service must be less than the cost in gas and time spent driving around looking for an open parking space. I think Government regulators would be on board with this idea, because less CO2 would be spewed into the air as cars wouldn’t be driving around as long looking for parking spots.

ObamaCare Contractors Paid To Sit At Computers And Hit Refresh, at nypost.com. When Government tries to centrally plan economic activities, wasting scarce resources is always the result. In this case, labor is the scarce resource that is being paid to perform an unproductive activity.

Quotation Of The Day On The Keystone XL Pipeline, by Mark J. Perry, at aei-ideas.org. ” Stopping keystone insures more railroad tank-car spills.”  Another example of Government regulations not just leading to less safe conditions, but adding to the cost of production. There is no way to insure 100% safety. Safety is traded off against the cost of an acceptable degree of risk. When The Obama administration shut down the Keystone pipeline they incentivized a less safe, higher cost oil delivery system. And guess who pays the cost in dollars and safety?

Rebellion In The USA – Protesters Attempt To Arrest Albuquerque Police Chief, by Mark Krieger of Liberty Blitzkrieg blog, at zerohedge.com. The break down of the rule of law happens when our rulers abuse their power. In this case the Albuquerque police department is out of control and the justice department has started an investigation. We have to use every peaceful method available  before we resort to the tactics that were used in this meeting. This affords the city council the opportunity to dismiss these protesters as extreme and the video evidence will back them up. The father that I showed last week getting arrested at the school board meeting for going past the two-minute speaking rule gained more support for his position because the school board looked extreme for having him arrested. The cost of using force to bring about change will be very high. We haven’t exhausted all of the lower cost avenues available to bring about change.

Football Player Sent To Re-Education Camp For Dissenting View, by Shane Kastler, at economicpolicyjournal.com. The PC police paint themselves into a corner when they anoint too many groups for protection. In this case they had to choose between a black NFL player expressing an opinion about a black homosexual draft choice. The order in which they value these two particular groups was revealed in their choice. On what rung of the PC ladder does a white homosexual fall?

Socialism Does Not Work /Danial Hannan / Oxford Union, youtube video. Danial Hannan does a great job explaining why socialism doesn’t produce the results the planners planned. Socialism uses force to make individuals comply with planners plans {Obamacare}. Socialists don’t like the spontaneous order, {Read my article Spontaneous Order = Free Market} that results when individuals are free to make decisions on what they produce, consume, and exchange. The only reason central planners think that socialism hasn’t worked is because it hasn’t been tried by the right people, namely them. Read my article, Why Socialism Won’t Work: Human Nature.

McDonald’s Kiosks In Action, at economicpolicyjournal.com. McDonalds is using cashier kiosks in its European restaurants. If our local, state and federal Government succeeds in raising the minimum wage above the value it produces,  Mcdonalds won’t be the only business that will have no choice than to replace these workers with kiosks.

News Reporting Is No Longer The Exclusive Domain Of Establishment Propagandists, at economicpolicyjournal.com. This is the creative destruction of  the free market at work. Everybody with a smart phone is a potential reporter. All of us are capable of being “on the scene” first, getting the scoop on the limited number of “real” journalists {propagandists}. The six o’clock news and the morning newspaper are reporting old news. News travels almost instantly via social media.

 

What Is Seen And What Is Not Seen.

Posted May 15, 2014 by austrianaddict
Categories: Econ. 101

Tags: , , , , , ,

File:Astronomer.svg

Frederic Bastiat was an economist in France during the mid 1800’s. His essay, That Which Is Seed and That Which Is Not Seen, starts like this: “In the economy, an act, a habit, an institution, a law, gives birth not only to an effect, but to a series of effects. Of these effects, the first only is immediate; it manifests itself simultaneously with its cause – it is seen. The others unfold in succession – they are not seen: it is well for us if they are foreseen. Between a good economist and a bad economist this constitutes the whole difference……the bad economist pursues a small present good, which will be followed by a great evil to come, while the true economist pursues a great good to come, at the risk of a small present evil.”

SEEN AND UNSEEN CONSEQUENCES OF FOOD STAMPS

I read this article titled, American Dependency (And The Third Day Of The Month Effect), by Rory of  The Daily Coin at zerohedge.com, about the growing number of people, {almost 50 million} on food stamps, and Bastiats essay immediately came to mind. What is seen is the supposed benevolence of politicians and bureaucrats helping hungry people get food for their survival. What is not seen is the abuse of the system by people who don’t need assistance but take it any way, and also what happens on the retail, whole sale, and administrative side of this equation.

Must See Video!

UNSEEN INCENTIVES FOR THE CONSUMER AND PRODUCER

Under this program people who qualify are able to use their debit card to purchase things other than food, like cigarettes, booze, and lottery tickets. They can also sell these cards for cash to fund other purchases. People who qualify for the food stamps, but don’t need them, can use the money they would have spent on food every month to purchase anything they want. The woman in the video paid $9,000 for breast implants while she was getting $700 a month in food stamps.

Grocery stores and convenient stores are benefiting because of the increase in sales brought about by the food stamp program. The Snack Food Association, and the American Beverage Association represent whole sale companies like Coke, Frito Lay, Pepsi, Sunny Delite, and Nestle to name a few. These associations lobby Government for the food stamp program to offer as many choices to the consumer as possible, which of course means these companies products. JP Morgan Chase makes millions being the administrator of the debit cards used for this program. I’m sure big agricultural companies lobby for this program just like they lobby for ethanol mandates.

This is what happens when “good” politicians {bad economists} pursue a small present good”. The unforeseen incentives that are created, unleash a chain of actions that increase the demand for the Government program. The consumers, the suppliers, and the Government administers of the program all have a similar incentive, which is to grow the program.  When there is a pile of tax payer dollars to be spent, the line of people who are trying cash in stretches for miles. The food stamp program is welfare for people and companies at every level.

CONSUMPTION PAID FOR WITH COUNTERFEIT MONEY

Food stamps are just another way our Government counterfeits money. The “dollars” on these debit cards are just numbers put into a person’s account by a key stroke on a computer. Since the Government borrows 40 cents of every dollar it spends, 40% of the numbers printed into these accounts don’t exist. The government will eventually borrow the money, the Fed will purchase the debt using electronically printed counterfeit money, the Fed will continually roll over the debt when it comes due, and you and I will pay for 60% of this consumption through direct taxation, and the other 40% through the hidden tax of inflation. When do we pass the point of no return, or have we already passed it?

 

Must Reads For The Week 5/10/14

Posted May 10, 2014 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , ,
The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

Parent Speaks Out At School Board Meeting, Gets Arrested For Disorderly Conduct For Violating The Two Minute Rule, by Oliver Darcy, at theblaze.com. If the school board thinks this is disorderly conduct, then many students should be arrested for how they act in school everyday. People with power will wield it when they don’t want their authority questioned. Citizens are starting to draw lines on what they will tolerate from arrogant people with power. People with power are changing  form servants of the people, to masters over the people. It’s easy to act this way when you have police in uniform with guns as the muscle behind your decrees. This escalation won’t end well.

Milwaukee Sheriff Hits Car Injures Driver, Then Charges Her For DUI, at loiter.com. Our founders warned us not to trust people in power. This is an attempt to blame the victim and cover up the truth by those who serve and protect. If the sheriffs office is willing to cover up this incident to save one officer; How much farther are political hacks and bureaucrats willing to go to cover up Benghazi, and IRS abuses to shield the President from blame.

Wind Power Costs Send Germans Back To The Stone Age, at stopthesethings.com. Germany went all in on wind power. Just as predicted the costs of energy has gone up 80%. Germans who are unable to pay the higher price, have been disconnected from the grid. Their only alternative is to use wood to heat their homes and cook their meals. Were going down this same road. Tell me again how green energy is going to lead us into the future.

The Ethanol Disaster, by Peter Suderman, at reason.com. Here is an excerpt from the article. “America’s ethanol requirement destroys the environment, damages car engines, increases gas prices, and contributes to the starvation of the global poor. It’s an unmitigated disaster on nearly every level.” I could never understand how turning food into a fuel that is not only more expensive to produce than gasoline, but gets less MPG than gasoline, was a good idea. I saw this at libertypenblog.blogspot.com.

Americas Pot Farmers Are Putting Mexican Cartels Out Of Business, by David Downs, at eastbayexpress.com. In an unhampered market Americans can still out produce just about everybody.

Milton Friedman Video: No Possible Employer, at libertypenblog.blogspot.com. This is from 1978 but it is like a broken record. Minimum wage laws hurt the very people the politicians say they are trying to help. When will we learn that the minimum wage law discussion is designed for one reason only and that is to garner votes for the politicians who support it.

Man’s Las Vegas Casino Winnings Confiscated By Police Without Any Criminal Charges, at policestate.usa.com. This is only supposed to happen in third world countries. I saw this at libertypenblog.blogspot.com.

Customer Service Actually Improves When There’s Competition Challenging The Taxi Cartels, by Mark J. Perry, at aei-ideas.org. Taxi cartels would rather spend time lobbying  Government to prohibit competition, than spending time trying to provide a better service than their upstart competitors.

How Close To Your Position Is An Acceptable Distance.

Posted May 8, 2014 by austrianaddict
Categories: Government and Politics, Miscellaneous

Tags: , , , , , , , , ,

Here is a video of Milton Friedman talking about Ludwig von Mises calling a group of free market economists “socialists”. I can relate to Mises stubbornness because I am also of German heritage.

MISES, HAYEK, ROTHBARD

The three most well-known economists of the Austrian school are Mises, Hayek, and Rothbard. I have read enough by these giants to know they had differnt views on how much power Government should have. Rothbard wanted very little Government, if any at all.  Hayek accepted a bigger role for Government than Rothbard. And Mises was closer to Rothbard than Hayek. All I have to say about the positions of these three men on Governments role in society is this: If they were forced to compromise their three positions and come up with how much power their system of Government should have, we would accept the compromise before we knew what it was. Why? Because it would be the freest society that has existed since our constitution was ratified, and probably more free than the original Government set up by our founders.

WHAT DID YOU KNOW AND WHEN DID YOU KNOW IT

We have to be very careful about condemning people who we feel are not close enough to our position. You were probably not close enough to your current position, at some point in your past. In 2007 I was nowhere near where I was in 2010, let alone where I am today. We have to keep people moving toward sound economics, and individual liberty. If they are already open to these ideas don’t blow them out of the water because they aren’t  where you are. Keep in mind the intellectual road you’ve traveled, and are still traveling. Look in the rear view mirror to see who is behind you traveling in the same direction on the same road, and realize there are people ahead of you looking at you in their rear view mirror.

Related ArticleAre You a Democrat, a Republican, or a Libertarian? at austrianaddict.com.

Analysing Benghazi Isn’t Difficult

Posted May 5, 2014 by austrianaddict
Categories: Government and Politics

Tags: , , , , , ,

The watch dog group, Judicial Watch, requested documents on October 18, 2012 concerning talking points UN Ambassador Susan Rice used on the September 16, 2012 Sunday shows concerning the Benghazi attacks. Judicial Watch had to file a Freedom of Information Act lawsuit against the Department of State on June 21, 2013 to try to get these documents. They were finally obtained on April 18 2014 (read here). E-mails show that the appearance on the Sunday shows was nothing more than political cover for the administration. They pushed a narrative that placed blame on an internet video and not on the administrations policies.

This should surprise no one. I wrote an article titled, Mises’ “Human Action” Explains Lies About Lybia, on October 25, 2012, that sums up the thinking of politicians. Here are some excerpts from the article that are even more true today than when I wrote them.

EXCERPTS FROM THE ARTICLE THEN

“Here is how “Human Action” by Ludwig von Mises helps us analyze the Libyan situation. Human action is purposeful behavior. Action is not simply a verbal preference, it is the individual choosing and acting to reach a particular end. Action is a tangible thing and cannot be confused with wishes, hopes, or after the fact quarterbacking. Men act to substitute what they think will be a more satisfactory state of affairs for a less satisfactory state. We wouldn’t want to change our existing state of affairs if we didn’t think the result would be better. Our action reveals the correctness of our thinking. When a baseball manager makes a decision during a game he does it because he thinks it will help his team win the game. After the fact we can judge if his decision was correct or incorrect in attaining his goal, but that doesn’t mean we would have made a different or better decision than he did, because we cannot recreate that point in history exactly as it was. The science of human action is called praxeology it studies the action itself. Psychology studies the internal events that result in action. It studies the forces pushing a man toward a particular action. Psychology is where Monday morning quarterbacking takes place. Praxeology is where we can analyze success and failure. Lets look at Libya through these lenses.”

“Every Administration has the right to make its own policy about how heavy of a security footprint it will have at any one embassy. You can argue about which policy will achieve the particular goal an administration wants to achieve. What that particular goal is may be misunderstood. For some administrations the goal is the safety of the people in the Embassy. For others it is what the people in the particular country will think if too much power is shown. There are obviously many degrees of security between completely locking down an embassy with every asset you can bring to bear, and simply allowing the people at the embassy to carry a concealed sidearm. There are many foreign policy goals each administration is trying to attain, and security for their people may be sacrificed for these goals.  The choice the administration makes is up for discussion and debate before anything happens. After the decision proves to be incorrect we can say it didn’t work to achieve the end sought,  assuming we knew the true goal of the administration. The end sought may not have been the security of the people. We can say the Obama Administration’s decision in Benghazi didn’t work from a security standpoint, just as we can say the Reagan Administration’s decision in Beirut didn’t work from a security standpoint. But we don’t really know if security was the primary goal in either situation.”

“What we know is that all politicians are self-interested individuals, and remaining in power is their main goal. This is the over-riding goal of every decision they make. They hire advisers to specifically look at everything they do and determine how it will affect them politically. If it is not the over-riding factor in decision-making, it certainly has a major influence in all decisions. This is my problem with the deaths in Libya. From the standpoint of security it was a failure, fine admit it and adjust. When you know what was going on within an hour of the start of the attack, and you put forth a story that’s untrue, and stick with it for weeks even as the truth starts to leak out, it tells me you have no other interests above yourself. You denigrate the lives of the fallen, you insult our intelligence, and you erode whatever trust remains, which is probably a good thing for liberty.”

“Every action that has been taken since the attacks began, is purposeful action toward the attainment of a more satisfactory state of affairs. Every lie told and photo-op taken was an attempt to reach a particular end, this is the science of human action. Since the situation was and is constantly changing, each day’s purposeful actions seemingly contradict the previous day’s purposeful actions. This contradiction only makes sense if we know the true ends sought. The end sought is to hold on to power through any means necessary. The administration believes their purposeful actions will result in them holding on to their power. We will find out in two weeks if their purposeful actions are correct or incorrect. They also act because they think the end sought, reelection, will be a more satisfactory state of affairs than the alternative. We won’t know if they are correct or incorrect about this until a couple of years down the road. Lets hope we find out in two weeks that they were incorrect about the first point so we don’t have to find out about the correctness of the second point.”

SOME THOUGHTS 18 MONTHS LATER

Nothing has changed. The administration remained in power. Their purposeful behavior worked to attain this end. They are going to continue to hold on to the lie no matter how much evidence proves they are lying. They have a midterm election coming up in November. But more importantly they have a narrative about their administrative legacy that needs to be kept intact or finesse.

This is why I hate politics. The incentive of gaining power or remaining in power overrides everything from a political perspective. Politics interferes with everything, and I mean everything, concerning our daily lives. We are being spun, or lied to, everyday. We can be inoculated from the spin, or lies, if we understand the concept of Human Action, and see all things through its lens.

 

Must Reads For The Week 5/3/14

Posted May 3, 2014 by austrianaddict
Categories: Must Reads For The Week

Tags: , , , , , , , , , , , ,

 

The pen is mightier than the sword...

 The pen is mightier than the sword… (Photo credit: mbshane)

What $1.4 Trillion In QE Buys The US Economy, at zerohedge.com.  GDP is a measure of dollars spent on consumption. Consumption is the destruction of what has been produced. If the Fed electronically prints counterfeit dollars, it is really printing a portion of the GDP number. This counterfeit money misallocates scarce resources into areas of production that can’t be sustained when the counterfeiting is decreased of stopped. The Feds electronically printed counterfeit money can only prop up the GDP number for so long before economic reality eventually catches up. The laws of economics are always at work trying to correct what results from the counterfeiting of money. Free money isn’t free. It comes with consequences that are born by people {you and me} down the line from the people {banks, wall street brokerage firms, and our Government} who receive it first.

Texas Oil Output Hits 34 Year High, by Mark J. Perry, at aei-ideas.org. Where would the GDP number be with out the shale oil revolution on private land.

Seattle Announces $15 Minimum Wage Highest In Nation, by Alan Pyke, at thinkprogress.org, I saw this at aei-ideas.org. Here is an excerpt from the article, “There are 102,000 workers in Seattle currently earning less than $15 an hour. Raising those people’s wages will put about half a billion extra dollars of spending money into Seattle workers’ pockets. As SEIU 775 president and coalition co-chair David Rolf said in a statement Thursday, the deal “will pump nearly $500 million into Washington’s economy, proving that a higher minimum wage fuels business and job growth.” Can you see the flaw in their impeccable logic? The money that is used to pay the extra wage is coming from somewhere. It’s either coming from the consumer through higher prices, or the production process through automation which means fewer workers. You’re not creating $500 million of new goods or services, you are just changing who spends the $500. This is like taking water from the deep end of the pool and dumping it into the shallow end of the pool. No new water is being produced, you are just redistributing the same amount of water.

Will Dunbar Rise Again, by Thomas Sowell, at jewishworldreview.com. Anything Thomas Sowell writes is outstanding. Next to economics his writings on education and race are truly in his wheel house.

One Million People Dropped Out Of Labor Force In April: Labor Participation Rate Plummets To Lowest Since 1978, at zerohedge.com. The labor participation rate is the important stat to look at in determining if our economy is producing wealth or consuming wealth. The principle is simple to understand. When fewer people work, less is being produced, and when greater numbers of  people work more is being produced. All this government intervention has not helped the economy at all, in fact it has made it worse than if we had let the market work its cleansing magic on previous government interventions.

The USPS Used Its Coercive Monopoly Power To Squash The Digital Mail Start Up Outbox, by Mark J. Perry, at aei-ideas. This is like the cab companies trying to get cities to regulate Uber and Lyft.

The Great Lakes Are Still Almost Half Frozen, And It Could Affect The Environment For Years, by Joseph Erbantraut, at huffingtonpost.com. In the middle of “global warming'” the planet decides to show us how arrogant we are. The planet does what it wants when it wants.

John Kerry Blasts “Propaganda Bull Horn” RT, at economicpolicyjournal.com. I guess it’s only cool when our Government has a propaganda bull horn, aka, the mainstream media.

Stressing The Grid: From Interventionism To Blackouts, by Steve Gorham, at masterresource.org. EPA regulations are going to cause coal fired power plants to close. Where will the electricity come from to replace this lost capacity? Not from wind and solar. Expect higher prices and potential rolling blackouts.