Posted tagged ‘Banning Cash’

Must Reads For The Week 5/28/16

May 28, 2016

How The TSA Kills Hundreds of People Every Year, by Joseph T. Selarno, at mises.org. Regulations aren’t implemented in a vacuum. People have options on how they will deal with any particular regulation. In this case, instead of putting up with the screening process at airports, people are deciding to drive instead of fly. This means a certain percentage of these people are dying in traffic accidents instead of arriving safely via air travel. It’s not possible to know the exact number, but we don’t need to know the exact number to know that more are dying. Another example of the unseen consequences of regulations.

New Poll 9 in 10 Native Americans Aren’t Offended By Redskins Name, at washingtonpost.com. Once again the left makes up a fake crisis in order to dictate their vision of the world on the rest of us. Ever since the Indians sold Manhattan for $24 and some beads, the left doesn’t trust Indians to make good decisions for themselves, so the left will make the decisions for them.

Former McDonald’s CEO Crushes The Minimum Wage Lie, at zerohedge.com. When you raise the price of labor above what it can marginally produce, it will go away. In this case automation will take the place of minimum wage workers. I always ask proponents of the minimum wage this question: What is 15 dollars an hour times zero hours a week? (That which is seen and that which is not see).

EPA Mandates Renewable Fuel Levels Above 10% Blend Wall, at instituteforenergyresearch.org. Government ethanol mandates do three things. 1) Increase the cost of gasoline. 2) Decrease fuel efficiency. 3) Decrease the life of engines. The ethanol industry profits (that which is seen), and the consumer pays the cost of the regulation (that which is not seen).

Bill To Allow 9-11 Victims to Sue Saudi Government Turns Out To Be A Chuck Schumer Led Scam, at economicpolicyjournal.com. Schumer stuck an amendment into the bill at the last minute which allows the Secretary of State and/or The Justice Department to stop any litigation. Who would have thought the Chuckster was capable of something like this?

VA Sec. Compares Wait Times At VA To Waiting For A Ride At Disney, at tammybruce.com. This can’t be true! I thought when Obama got rid of the VA Secretary two years ago, and replaced him with Bob McDonald, everything would get fixed? In my post “Incentives Matter” written when the change was made (2014) we explain why changing the person in charge without changing the incentives wouldn’t make a difference.

Elizabeth Warren: Uber Hater, at economicpolicyjournal.com. She said, “Uber and Lyft fight against local rules designed to create a level playing field between themselves and their taxi competitors.” Mrs. Warren (aka Pocahontas), these rules were put in place to tilt the playing field in favor of the existing cartel. A level playing field would be one with no regulations. Of course there is no role for politicians on a truly level playing field.

India’s Government Just Went Into Overdrive In Its Harassment Of Apple, at economicpolicyjournal.com. This is protectionist regulation that will marginally help the local businesses and hurt the consumers. (that which is seen and that which is not seen).

Why Aren’t Female Soccer Players Paid More? by Ryan McMaken, at mises.org. Just because you work as hard as someone else doesn’t mean you will get paid the same wage. You get paid on the value you produce, as judged by the evil consumer, regardless of how hard you’ve work. In this case, consumers don’t value watching female soccer. If they did, women would get paid more. There’s a difference between merit and value. Merit is me working as many hours as Bill Gates and thinking I should get paid as much as him. Bill Gates produces more value for more consumers than I do, and gets paid for the value he produces, as do I.

Cash Banned, Freedom Gone, by Thorsten Polleit, at mises.org. The recent talk about negative interest rates only works for central banks if they get rid of cash and make everything an electronic transaction. If every exchange is seen by the state: Do you have freedom?

BILL CLINTON COSBY

Freud would have a field day with this!

Sorry I couldn’t help it.

Must Reads For The Week 4/16/16

April 16, 2016

I HATE POLITICS!

Donald Trump Blasts Colorado GOP For ‘Corrupt System’ In Picking Delegates, at foxnews.com. Here are a couple of comments. If you are going to play in the political arena, you have to know all the rules in order to compete against the people who do know the rules. It doesn’t matter what you think of the rules, because you are not in a position to change them. I’ll use a golf analogy to explain Colorado, because Donald Trump plays golf.

Trump is playing Cruz in a match and on a par 4 Trump hits his tee shot in the fairway and Cruz hits his tee shot in a water hazard. Trump hits his second shot on the green. Under the rules, Cruz can play his ball from the water hazard with no penalty, play another ball from the tee with a 1 stroke penalty, drop a ball two club lengths from where his ball last crossed the hazard and play it form there with a 1 stroke penalty, drop a ball behind the hazard as far back as he wants as long as he keeps it in line with the flag and the point where his original ball last crossed the hazard (and you thought delegate rules were complicated) with a 1 stroke penalty. Cruz decides on the fourth option. He drops his ball 150 yds from the green which is his perfect 7 iron distance. He hits his third shot to two feet and taps in for par. Trump three puts for a bogey. Trump now complains the the rules pertaining to water hazards are corrupt. He says it isn’t fair that someone can hit it in the water and win the hole. Cruz knew the rules and used what he thought was his best option. He didn’t cheat. He played within the rules.

What if this situation was reversed and Trump hit his ball in the hazard. He than plays his third shot from the tee because not only does he not know all the rules, the caddie he hired doesn’t know the rules. After he loses the hole he complains the rules are convoluted and impossible to understand. The rules are set up so golf insiders have the advantage. The rules about hazards, water hazards, lateral hazards and out of bounds should all be the same. These rules of golf are set up so golf insiders have the advantage.

If you’re playing a competitive game (which is what politics is) you must first know the rules of the game so you don’t lose because of what some would consider a ‘loophole’. The truth is either Trump didn’t know the rules, in which case he isn’t the winner he thinks he is. He didn’t know the rules and is just trying to spin his way out of his ignorance. Or he did know the rules and decided the cost of doing what Cruz did in Colorado was to high compared to the political hay he could make by complaining about the rules after the fact. The truth is Cruz used the rules to his advantage and Trump didn’t. If you want the rules changed you have to figure out a way to use the existing rules to get in positions of power. When you get enough like minded people in these positions, you will now be able to  change the rules. The establishment became the establishment through this process. The rules are written to protect the position of the status quo by making it difficult for outsiders to overthrow them. The only way to change the status quo party system is through the electoral process. Unfortunately this change is slow and incremental which means non political people get burnt our and lose interest.

Equal Pay Day’ This Year Is April 12; ‘Equal Occupational Fatality Day’ Will Be In 2027, by Mark J. Perry, at carpediemblog. The gender pay gap is another political scam. Since politicians continue to think they can gain by politicizing this issue, it is apparent that we haven’t done enough to educated the ignorant. Educating the ignorant isn’t a one time and your done proposition because our education system is constantly producing new generations of ignorant citizens.

Quotation Of The Day, On The Real Minimum Wage Of $0.00 An Hour, by Mark J. Perry, at carpediemblog. Here is another issue that is a winner for politicians and a loser for minimum wage workers. Here is all you need to know about minimum wage. Less is demanded at a higher price than a lower price. This includes labor. Quote from the article by Thomas Sowell: “Unfortunately, the real minimum wage is always zero, regardless of the laws, that is the wage many workers receive in the wake of the creation or escalation of a government-mandated minimum wage, because they either lose their jobs or fail to find jobs when they enter the labor force.” Read Minimum Wage Laws Create Unemployment and Income Inequality Part II: Increase The Minimum Wage and The New, Old, Buzz Words, “Income Inequality“.

Union Leaders Champion Higher Minimum Wages But Support Loopholes To Exempt Union Workers, by Mark J. Perry, at carpediemblog. Do as I say not as I do! Unionized hotels in L.A. have been granted an exemption from paying the higher minimum wage that L.A. city council mandated. Excerpt from the article: “Critics see this as a cynical collusion between politicians and big-city labor interests. By making unions the ‘low-cost option’ for businesses seeking to avoid paying better wages, they assert, the exemptions are designed to drive up union membership – and revenue from dues – at the expense of workers.”

Campaign Lies, by Thomas Sowell, at jewishworldreview.com. From the article: “If you took all the lies out of political rhetoric, how much would be left? Apparently even less than usual this year…..The success of campaign lies depends ultimately on how willing the public is to be stampeded without bothering to stop and think.

 RELIGIONS AREN’T EQUAL!

Canadian Newspaper Censors Refugee Abuse Of School Children, at tammybruce.com. Muslim refugees criminal behavior is happening all over the world. This is close to home. We are not exempt from this.

Gay Air France Attendants Refuse To Fly To Iran, Fear Executions, at tammybruce.com. Homosexuals are figuring out who they should fear. It’s not Christians who are carrying out executions.

ECONOMICS

The Fed Can’t Save Us, by Robert J. Murphy, at mises.org. Excerpt from the article: “Janet Yellen and her colleagues are stuck with a giant asset bubble that her predecessor inflated. If they begin another round of asset purchases, they might postpone the crash, but only by making the subsequent reckoning that much more painful…You don’t make the country richer by printing money out of thin air, especially when you then give it to the government and Wall Street.”

Cash Banned Freedom Gone, by Thorsten Polliet, at mises.org. In order for central banks (Government) to steal your money with negative interest rates, the Government must first ban cash. If negative interest rates are implemented and people still have the ability to take their cash out of the banks, Negative interest rates are useless.

Austria Just Announced A 54% Hair Cut In Senior Creditors In First Bail In Under New European Rules, at zerohedge.com. An example of government force being used to steal people’s money. I know…It can’t happen here!

THE DAY AFTER TAX DAY

Brutus” And Our Brutal Taxes, by Gary Galles, at mises.org. One of our founders Robert Yates was a profit when he talked about the taxing power of the federal government over 200 years ago. His predictions are amazing.

101 Years Of The Income Tax, at zerohedge.com.

CARTOONS