Posted tagged ‘Illinois Collapsing’

Must Reads For The Week 7/29/17

July 29, 2017

Single Payer Food Insurance, by Robert Higgs, at lewrodkwell.com. The free market has no problem supplying the U.S. with enough food. In fact the free market does such a good we have an obesity problem in the U.S. Would a single payer food insurance program work better or worse than our current free market system as hampered as it is. Why would we want a single payer healthcare system?

How OPEC Became Irrelevant, by Olav Dirkmott, at mises.org.  OPEC  used to be able to cut production and drive up oil prices. Not anymore. The American shale industry has become profitable at prices in the 40-50 dollar range. Shale producers have filled the void created by OPEC cuts which has kept the price down.

Banks Are Scheming To Dominate A Future Cashless Society, by Shaun Bradley, at lewrockwell.com. Governments want to phase out cash. If every transaction becomes an electronic transfer governments and banks gain control over the wealth of each individual. A cashless society becomes exponentially less free.

“Shrinkflation” – How Food Companies Implement Massive Price Hikes Without You Ever Noticing, at zerohedge.com. Companies are putting smaller amounts of product in their packaging. We don’t notice because the package looks about the same size. We are paying the same price or a little more for less product. I noticed this a few years ago.

Seattle’s Minimum Wage Supporters Ignore The Facts, by Andres Syrios, at mises.org. Minimum wage laws hurt the workers the laws were designed to help. The passage of time always shows socialist policies won’t work. Although economic laws prove this before the fact.

Tracking The Great Escape From Cook County And Illinois, at zerohedge.com. The decreasing population of Illinois in general and Cook county in particular shows people voting with their feet. Big government makes things worse, not better.

Taiwan – Based Foxconn Will Invest $10 Billion In The US And We Can Thank American’s Trade Deficit For that Inflow, by Mark J. Perry, at carpediemblog. Trade deficits and trade surpluses don’t disadvantage anybody. Trade benefits both parties in the exchange or the exchange wouldn’t happen.

The Student Loan Bubble And Economic Collapse, at theburningplatform.com. The U.S. has $1.3 trillion in student loan debt. $120 billion is in default. 27% of students are a month behind on payments. These defaults will grow in number. The bubble will eventually burst, which is a good thing. Unless politicians use tax payer dollars to bail out big college.

The High Cost Of Free College, by Nathan Keeble, at mises.org. Tennessee is going to pay tuition for anyone who is seeking an associate degree from a community college. Do you think single payer college will work?

A Shocking Thing Happened To College Tuitions In 2016, at zerohedge.com. Is the college bubble reaching its peak? In 2016 college tuition grew at 1.9%. Since 1990 tuition has grown at 6% a year on average.

Us Congress On Pace To Be The Least Productive Legislature In 164 Years, at zerohedge.com. What does productive mean in this context? If productivity means passing regulations than I am happy congress is not productive. If productivity means getting rid of regulations (like Obamacare) than I’m not happy.

A Millennial Explains How Post-Modern Liberalism and Failed Parenting Led To The Snowflake-Ification Of A Generation, by Mark J. Perry, at carpedicmblog. Excerpt from the article: “Most millennials grew up with parents who did everything they could to provide their children with happiness and emotional well-being, at the expense of personal responsibility and self-reliance.” Protecting people from reality produces unrealistic people.

Who’d a-thunk It? There Are Ingerent Differences In How Men’s And Women’s Brains Are Wired And How They Work? by Mark J. Perry, at carpediemblog. Nurture or nature? Nature wins.

Declassified Memos Show Obama’s NSA Spied On Americans Way More Than You Thought, at zerohedge.com. Is anyone surprised that this happened. The question is; is this still happening?

FBI Seized Crushed Hard Drives From Home Of Wasserman-Schultz’ IT Aide, at zerohedge.com. These guys learned from Hillary Clinton. But wait there is more.  Arrested DNC Staffer Awan Retains Long-Time Clinton Associate Fro Legal Help, at zerohedge.com. The Democrat party had Pakistani IT workers on their payroll. Imran Awan was arrested at Dulles airport trying to flee the country. He was charged with bank fraud. There is a real crime here. The media has not covered this story. Why?

CARTOONS

From therightreasons.net.

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Must Reads For The Week 6/24/17

June 24, 2017

RESULTS OF GOVERNMENT CENTRAL PLANNING

McDonalds Is Replacing 2,500 Human Cashiers With Digital Kiosks: Here Is The Math, at zerohedge.com. Economic forces are always finding more productive ways of providing goods and services to consumers. Without intervention from Government regulations and Federal Reserve printed money this transformation happens at the proper time. It is an incremental process that slowly relocates less productive labor, capital, and resources to more productive uses. The problem with central planners, and in this case minimum wage zealots, is their ‘good intentions’ are bringing the future into the present before it supposed to be here. Eventually and gradually automation replaces labor, just look at economic history. As wages gradually increase it leads to an incremental move toward automation at a certain price. But when central planners force sudden and large increased in minimum wages, the transformations it causes are more costly and disruptive to the economy (people) than if the market was allowed to let changes happen at the pace set by the market (the market: what results when millions of individuals are allowed to make decisions on what they will produce, consume, exchange and save).

New Mexico Health Insurer Proposes 80% Premium Hike, usnews.com. Another example of intervention by central planners creating disruptions in the healthcare market (or what is left of the healthcare market).

Good Luck Getting Out Of The Subprime Auto Loan When Used Car Prices Crash, at zerohedge.com. Look at the problem created by central planners in the auto loan market. Transporting future demand into the present results in over production. This over production wouldn’t have happened under normal market conditions. Now that future demand has already been used up, there is not enough ‘present’ demand to match the over production. The free market allocates scarce resources to their most productive uses with as little waste as possible. Government intervention is chaotic.

Government As The Source Of Monopoly: US Airlines Edition, by Peter Klein, at mises.org. Monopoly cannot exist in a free market as long as entry into the market is not restricted by Government. The airline industry is heavily regulated which means customer service isn’t a top priority. Does anyone who has flown recently disagree?

Canary In The Coal Mine: Unfunded Liabilities Have Turned Illinois Into A “Banana Republic“, at zerohedge.com. Government caving into Unions for years has led to this unfunded liability nightmare. There is no incentive for Gov. officials to fight the unions when expiring contracts are up for renegotiation because it is the tax payer dollars they are negotiating with. Politicians have no skin in the game. Government employees retire in their 50’s and then collect 30 plus years of benefits. If you add this to the fact that these pension plans have been underfunded, you see the math problem they have created for themselves. Incentives matter. The private and public sectors operate under different incentives.

Moody’s: Modest Downside Could Spark $3 Trillion Surge In Pension Liabilities, at zerohedge.com. It’s not just Illinois that has the pension crisis. Public pensions all over the US are in trouble. Why? We covered it above.

Privatize The New York City Subway System, by Robert Fullner, at mises.org. Another example of a Government run system failing. There is no incentive for New York’s Metropolitan Transit Authority to use scarce resources efficiently because tax payer money is always available to bail them out.

Philly’s Soda Tax Is Shaping Up To Be An Epic Flop, at phillymag.com. No shock here. A black market for soda is springing up just as the black market for cigarettes was created in NYC when they hiked the cigarette tax. The tax also has led to job losses at Coca-Cola since sales declined 32% (read here).

MISCELLANEOUS TOPICS

Hero Homeowner Holds Escaped Georgia Inmates At Gunpoint Until Arrests, at tammybruce.com. Good guy with a gun stops bad guys.

Judicial Watch: Obama NSC Advisor Susan Rice’s Unmasking Material Is At Obama Library, at judicialwatch.org. Insiders using the law to hide information! Documents from the Obama administration are now at the Obama Presidential library. The Presidential Act closes access to these records for 5 years after the President leaves office. With the millions of pages of federal law, do you think there are other places where insiders can hide records?

Major Free Speech Victory, SCOTUS Rules For ‘The Slants’ And Strikes Down Federal Trademark Restriction, at reason.com. The Obama Patent and Trademark Department lost this case 8-0. How many Supreme Court cases end up with no dissenting opinions? This was an attempt by the Obama administration impose their idea of political correctness on all of us. They hoped the defendant wouldn’t be willing to pay the monetary and psychic cost of fighting the unlimited resources of the Federal Government.  What a waste of time and money. But thank God they fought this.

Soros, Teneo And Donors To McCain Institute, dailycaller.com. Senator McCain may be trying to create a smaller version of the Clinton’s money laundering scheme, known as the Clinton Global Initiative.

Complete Idiotic Commentary From The Commerce Secretary, at economicpolicyjournal.com. Excerpt from the article: “The entire concept of the balance of payments, weighing trade deficits and surpluses, is absurd and at epicenter of economic confusion.” Trade policy is an area where Trump needs to get educated.

East Lansing Bans Apple Farmer From Market From Being Faithful Catholic, at thefederalist.com. An example of tolerance by politically correct bureaucrats.

CARTOONS

therightreasons.net

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