Posted tagged ‘Mark J. Perry’

Must Reads For The Week 3/26/15

March 26, 2016

This is from Mark J. Perry at carpediemblog. “Scaling Back Government: a) A state legislative subcommittee in North Carolina recently approved draft legislation that would dissolve 15 occupational licensing boards in the state, and b) Nebraska hair braiders can’t be jailed for performing their services without a government permission slip, thanks to a new law.” This is a move in the right direction. Shrinking government is possible at the state and local levels. It is difficult at the Federal level.

Venn Diagram Sunday, by Mark J. Perry, at carpediemblog. Mark Perry’s Venn diagrams are always interesting. He shows 12 of his most recent diagrams in this post. Here is an example.

Venn7

Obamacare Turns 6 – $55 Billion In Waste, So Far, at investors.com. We had lower cost healthcare when the 30 million who didn’t have health insurance went to emergency rooms for their care. Why did we pass 2500 pages of rules to help 30 million people when they weren’t denied healthcare in the first case? Answer. Politicians wanted more power.

Under Revised Policy, College No Longer Threatens To Lock You Up For Passing Out The Constitution, at thecollegefix.com. I bet the college administrators are worried that the Marxist propaganda they’re feeding the students might have some competition.

Transgenders And School Bathroom Question Solved, at targetliberty.com. This is an outside of the box solution. “Abolish the public school system.” This would also solve a lot of other problems.

Forget “Unity” We Need The Freedom To Disagree, by Gary Galles, at misesca. In a world of scarcity and subjective value, there can be very little agreement. Using government power to force people to agree has a high cost. To have less contention between people all we need to agree on is individuals have property rights and voluntary exchange (contract). Our country was founded on these basic principles.

This Place Needs A Recession, at economicpolicyjournal.com. From the article: “The power center of America (Washington D.C.), where politicians, crony capitalists and lobbyists plot, continues to grow……..built on the backs of US taxpayers. DC needs a recession.” The growth in the power of government has allowed politicians to split Americans up into groups and pit us against each other. While we waste time bickering with each other about which party or politician has the “solutions”, government power continues to grow. We don’t realize that answers to our problems can’t come from government because the problems were caused by government “solutions” in the first place. Read (People Want A President Who Will ‘Get Something Done”.)

The Nanny Always Wins: Fantasy Sports Stop Operations In New York, by Scott Shackford, at reason.com. This is an example of private property and voluntary exchange being trumped by politicians and bureaucrats using the force of government.

German Response To Negative Interest Rates, by Paul-Martin Foss, at mises.org. Just as Japanese people responded to negative interest rates by purchasing more safes, German people are responding by withdrawing money from their accounts and putting it in safe deposit boxes. This is a perfectly logical response. But it is a response that our anointed central bankers somehow failed to see. Do you think the banks, sanctioned by government, would go into these safe deposit boxes and take the money and leave an IOU?

THE MUST READ OF THE MUST READS

Markets Are Our Best Hope For Peaceful Cooperation, by Andres Syrios, at mises.org. Excerpt from the article: “…although selfish, human beings are a social species who long for a sense of community….and while morality – such as the golden rule, may be applied universally – human cooperation and empathy are not…The question left before us is what societal arrangement does such a nature best lend itself to. Karl Marx envisioned a future that would be “From each according to his ability, to each according to his need.” But as the biologist E.O. Wilson cleverly noted of communism, “Wonderful Theory, wrong species.” Yes, what works well for ants doesn’t so much for human beings.”…….”Cooperation is a great thing, but it has only been shown to work in small groups. All that’s left with regards to large group interactions is force or exchange. So democracy, on a large scale, is merely people voting on if, when and how to use force against each other.” Read, Individual Liberty Is The Least Contentious Way Of Settling Differences.

 

BERNOPOLY: NEW BOARD GAME FROM BERNIE SANDERS

bern

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Economic Forces Eventually Win: Let’s Look At Oil

March 2, 2016

Mark J. Perry’s recent post at Carpe Diem Blog titled; Some Charts And Updates On America’s Amazing Shale Revolution, It’s Not Over Yet, shows how economic forces are always in play even when we think they’re not. When the price of oil was over $100 dollars a barrel and gas was close to $4 a gallon in 2014, who thought oil would get down to $30 dollars a barrel and gas would sell for under $2 a gallon?

The law of supply and demand states that more will be produced at a higher price than a lower price. Higher oil prices made fracking economically viable. The American shale industry took off, in spite of the Obama administration making oil rich government land off limits to fracking. The shale industry started drilling on private land. Even though a portion of the investment in the shale industry may be an artificial bubble, thanks to the fed printing money, the reality is that fracking is now viable at lower and lower prices per barrel. Some marginal companies are going bankrupt because of the lower prices, but you can rest assured these evil oil companies won’t be bailed out by our green energy loving government, which is good. These marginal producers will be purchased by more viable companies and whatever malinvestment the Fed created will be purged from the shale industry. The housing bubble should have been allowed to find the bottom, instead of the Fed pumping money to keep the correction from happening. This is what should have happened to GM instead of being bailed out by Bush and Obama.

Economic forces are always in play even though government tries to keep them at bay through regulation, taxes, or money printing. Even though it may take some time, economic forces always win. Just ask the leaders of the former Soviet Union.

Here are some charts and quotes from Mark J. Perry’s article (click above).

US oil production is almost up to early 1970s levels.

oil

US natural gas production is at all time highs.

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Low oil prices have had a positive economic impact, even though the Wall Street experts say the low prices are bad. In fact the Obama administration couldn’t claim any US job growth if it wasn’t for the jobs created in the fracking industry. And the Obama did everything it could to halt fracking. Excerpt from the article.

“The plunge in energy prices is driving a U.S. building boom for plants that turn crude oil and natural gas into motor fuels, chemicals and fertilizer. Energy companies proposed or received approval to build 140 petrochemical projects in the last five years as falling oil and natural gas prices made it cheaper to refine and process the raw materials…

We are becoming more energy self sufficient. The OPEC Cartel has been brought to its knees by the American shale revolution.

netoil

Excerpt from the article:

“America’s Amazing Shale Revolution is arguably one of the most remarkable energy, economic, entrepreneurial, and technological success stories in history. The charts, data and reports above help to tell part of that remarkable story.”

“And make no mistake, the shale revolution is not going away, it’s here to stay and will be part of the global energy landscape for a long time. Despite a temporary slowdown and setback in domestic oil production in response to low oil prices, America’s bonanza of shale resources won’t vanish, but will remain available and accessible when needed…. America’s petropreneurs….stand ready to start drilling shale oil again as soon as oil prices rebound back above $40 per barrel. And the shale producers will come back leaner and meaner than ever in the upcoming Shale 2.0 period, thanks to ongoing technological improvements in drilling and extraction technologies, less costly and shorter drilling times for new wells, and increases in the initial shale output flowing from new wells…

America’s shale revolution isn’t going anywhere. In fact we are probably at the end of the beginning of the revolution.

Related ArticleFree Market Fracking Trumps Government Solutions When It Comes To Producing Energy, at austrianaddict.com.

Related ArticleWind And Solar Energy Is Diluted and Intermittent, Which Means More Costly, at austrianaddict.com.

Free Market Fracking Trumps Government Solutions When It Comes To Producing Energy

June 23, 2015

Mark J. Perry at CarpeDiemBlog visited the Bakken oil fields in North Dakota and has written about what he learned in these two must read posts titled, Ten Things I Learned On My Summer Trip To The Bakken Oil Fields Part I click here, and Part II click here. These articles tell the story about every aspect of fracking. You will be amazed when you read how fracking works, from walkable drilling platforms, directional drilling, frac sand, 3-D seismic imaging, and geo-steering to name a few.

Even though Saudi Arabia is trying to drive the price of oil down in an attempt to make it unprofitable for American Fracking to produce oil at the lower price, hydraulic fracturing is becoming an increasingly more cost-effective way of extracting oil from the ground due to the advances in technology and human ingenuity. What’s left of Americas culture of freedom has produced a fracking miracle. There are so many known and yet to be known areas of our economy that are poised for a miracle if Government will just get out of the way.

ANIMATION OF HYDRAULIC FRACTURING

 

GOVERNMENT IS AGAINST LOW COST ENERGY

The Federal Government has spent billions of our tax dollars trying to make “green energy” a viable alternative to fossil fuels, at the same time they are trying to hamper the fracking revolution. Here is what I wrote in a previous post titled Politicians “Affordable” Ideas Must Obey Economic Forces.

“Market forces are more powerful than the hoped for results of central planners. The most recent example of this is the boom in oil and natural gas production, created by hydraulic fracturing [ fracking],which is taking place on private land in spite of Government policies. Our politicians shut down some Government lands to oil exploration, and made the process of getting permits for exploration on remaining lands more time-consuming [costlier]. They used their power, and our tax dollars, to promote and invest in, “green energy”. Green energy was going to create new jobs and lead our economy into the future; do you remember Van Jones the Green Jobs Tzar. As always, the plans by our best and brightest politicians, must be obedient to economic forces. Green energy has, and is, going bankrupt, in spite of being propped up by Government incentives  and our tax dollars. They tried to make carbon based fuels more expensive through regulation, and green energy more affordable through tax payer subsidies; and even with all this Government help, the economic reality that green energy produces less energy at a higher cost, and carbon based fuel produces more energy at a lower cost, can’t be overcome.”

“This article titled, “Fracking Revolutionized American Energy As Green Energy Failed“, by Conn Carroll at washingtonexaminer.com, shows how the President went all in on green energy, at tax payers expense. We are witnessing what Robert Bradley Jr., at masterresource.org, has stated so well, “When Government tries to pick winners and losers, it typically picks losers. Why? Because in a free market consumers pick winners to leave the losers for Government”

Related ArticleGovernment Investment Or Government Waste, at austrianaddict.com. Look at the list of failed government subsidized  green energy companies in this post.

Related ArticleThe Hidden High Cost Of Green Energy, at austrianaddict.com.

 

Must Reads For The Week 2/14/15

February 14, 2015
The pen is mightier than the sword...

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

FREE MARKETS LOWER PRICES

Uber For Helicopters In NYC, by Mark J. Perry, at aei.org. The Uber model for transportation via helicopters. Gotham Air charges $219 per person. It would normally cost close to $1000 to charter a helicopter. Lower prices through technological advances in relatively free markets.

Cheap Gear Disrupts Commercial Video Industry, at nalert.blogspot.com. This is how an economy is supposed to work. Prices should go down (deflation) over time as productivity and advancing technology make things less costly to produce. Most people think that increasing prices (inflation = printing money) is how an economy is supposed to work. Prices will generally go down if the money supply can’t be increased easily. Prices will go up if money can be created out of thin air via the printing press. I saw this at Mark J. Perry’s carpediem blog.

Theranos, With Walgreens, Revolutionizes Healthcare, at brandchannel.com. Technology is bringing down the cost of healthcare. Theranos can test blood for multiple medical conditions at a 50 to 90 percent lower cost needing only one drop of blood. Do you think the status quo testing labs are happy about this? No, but the consumer is. It will be interesting to see how technological advances like this lower the cost of healthcare while at the same time Obamacare is increasing the cost of healthcare. The Republicans shouldn’t be saying repeal and replace, they should be saying repeal and let the free market work it’s cost reducing magic. This is a great article that I saw at Mark J. Perry’s carpediem blog.

OTHER ARTICLES

US Senator Demands A Federal Reserve Bailout Of Greece, at zerohedge.com. To the surprise of no one, self described democratic socialist Bernie Sanders wants The Fed to bailout his socialist buddies from Greece. Why would we do this when the first bailout of Greece didn’t work?

Prepare For Higher Gas Prices, at economicpolicyjournal.com. Oil refinery workers are going on strike led by the United Steel Workers union. Aren’t they being greedy?

Brian Williams SEAL Team Six Stories Latest To Come Under Fire, by Caitlin Dickson, at news.yahoo.com. Brian Williams is channeling Forrest Gump. Except he is not as likable or believable as Forrest, Forrest Gump.

Gallup CEO Worried About “Suddenly Disappearing” For Truth Telling About The Real Umemployment Rate, at inquisitr.com. Either that or he will find a horse head in his bed.

Getting Serious About Keeping Children Safe, by Logan Albright, at mises.ca. You can never go too far when it comes to the safety of “the children”.

John Stossel – Trust And Reputation, at libertypenblog.blogspot.com.

Who do you trust? Businesses who are greedy for money that they won’t get unless you voluntarily give it to them in exchange for their product or service. Or politicians and bureaucrats who are greedy for power to make decisions concerning your life that you have to obey or else.

“I’m From The Government And I’m Here To Help.”

December 16, 2013

We’ve been told that Government workers and bureaucrats are public servants. The stories below show that these public servants aren’t really interested in helping us, there more interested in helping themselves. Government regulations and licensing laws should be done away with because they set up road blocks for individuals to freely exchange on the market. It creates a hampered market. These laws are set up to increase Government power over the individual. What do these laws actually do? Here is a short list,  1) They raise money to fund the bureaucracy through fees and fines. 2) They protect the incumbent businesses from competition. 3) They allow bureaucrats to wield power over the masses.  These interventions in cities and towns across the country is a miniature version of the crony capitalism that happens on a larger scale at the federal level.

BEGGING IS PROTECTED, SELLING IS ILLEGAL

Watch this video below of an 11-year-old girl who was trying to sell mistletoe to help raise money for her braces. The authorities told her she could beg for money but not sell her mistletoe for money. Read article here.

GOVERNMENT IS AN UNWANTED BUSINESS PARTNER

In this video the cops shut down the lemonade stand of 3 girls trying to raise money to go to the water park. They are supposed to have a business license, along with food and vendors permits to operate a lemonade stand. These permits and licenses would cost these girls $50 dollars a day plus $180 dollars a year. How much lemonade do you have to sell in a day just to cover the cost of complying with the bureaucratic rules. These girls didn’t know that they had a not so silent business partner.

 IT’S LIKE A MAFIA PROTECTION RACKET

This creative entrepreneur finally closes the doors on her viable business. Why?  Because the harassment by Chicago bureaucrats was too high a cost to pay for the “privilege” of doing business in Chicago. I don’t think the bureaucrats understand the private sector is what funds their ability to do stupid things, like harassing businesses to the point that they close their doors. Paying bribes to bureaucrats is a consequence of too much regulation. In third world countries paying bribes is considered a cost of doing business. I saw This story at Mark J. Perry’s Carpe Diem Blog.

How the young kids in these videos will be affect by their run in with Government will not be known for many years. They will see Government as an instrument of force used to take their individual liberty away. The question is, will they fight for their individual liberty, or will they go along with Government intrusion just to get along. Actually that is the choice we all have to make. Either stand up and be counted or stay seated and don’t make waves.

In this Related Article by Walter Block, How the Market Creates Jobs, And The Government Destroys Them, he talks about licensing laws and how they affect employment. Here is an excerpt. “When the government bestows legal status on a profession and passes a law against competitors, it creates unemployment. For example, who lobbies for the laws which prevent just anyone from giving a haircut? The haircutting industry—not to protect the consumer from bad haircuts, but to protect themselves against competition.”

Must Reads For The Week 11/16/13

November 15, 2013
The pen is mightier than the sword...

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

Obama Translated, at zerogedge.com. You need your political speak to english dictionary to understand what politicians say.

The Biggest Threat To Minimum Wage Restaurant Workers Everywhere?, at zerohedge.com. When the minimum wage is set above the value produced by the worker, businesses will find a lower cost substitute for the labor.

The Mirical Cure…? zerogedge.com. You can’t counterfeit your way to prosperity.

This Is How The President Plans To Un-Cancel Insurance Policies, at economicpolicyjournal.com. Unintended consequences happen when central planners try to plan what is still a qusi free market activity. It’s the same concept as trying to raise the minimum wage law above the market price.

The Economics Of Obamacare, by Robert P. Murphy, at mises.org. The laws of economics are always in play no matter what plans Governments make.

Top Sectors That Throw Money At Congress, economicplicyjournal.com. They all pay both sides of the aisle, it is called hedging their bets. When the difference is 65% or above, you have a good idea what that which party the better thinks will deliver the goods.

U.S. Oil Production At Highest Level Since January of 1989, by Mark J. Perry, at aei-ideas.org. Free markets work in spite of government plans to make drilling for oil more difficult.

Progressive Government Fails, by Daniel Henninger, at online.wsj.com. Quote from the article, “The essence of modern Democratic progressivism is: “You will participate in what we have created for you, and you will comply with the law’s demands.”

Does Washington Know Best? by Walter E. Williams, at jewishworldreveiw.com. The amount of knowledge needed to centrally plan an economic activity is impossible for Government to know. No one individual or bureau of individuals knows this knowledge in a free market. Prices convey and coordinate this knowledge. When Government messes with prices through regulation, taxes, and subsidies, well just look at the Obamacare mess. It will get worse as they try to fix it through more “planning”.

Must Reads For The Week 10/26/13

October 26, 2013
The pen is mightier than the sword...

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

Yale Professor Surprised: Tea Party Supporters More Scientifically Literate, by Kyle Becker, at ijreview.com. From the article, “…all my impressions come from watching cable tv…..and reading the paper…I’m a little embarrassed, but glad…I no longer hold this particular mistaken view.”

Obamacare Tech Firm (CGI) Tried, Failed To Build Gun Registry In Canada, by Joel B. Pollak, at breitbart.com. Does the choice of CGI to build the website tells us the administration is either less scientifically literate than the average person, corrupt, incompetent, or just unlucky?

Why The Fed Will NEVER End Quantitative Easing, by Patrick Barron, at patrickbarron.blog.blogspot.com. An excellent one paragraph analysis of why the Fed can’t escape the Groundhog Day movie it created for itself.

Alan Greenspan Warns Of Double Digit Price Inflation, at economicpolicyjournal.com. Former fed chairman warns, “the feds balance sheet expansion may unleash inflation.” A moment of candor from an insider.

With Debt Ceiling Lifted, Federal Government Resumes Borrowing Spree, by J. D. Tuccille, at reason.com. The “kick the can” debt ceiling deal, allows the U. S. Treasury to borrow as much as it wants until February 7th 2014. I Guess this shows how serious “socialists of both parties” are about controlling spending.

Debt Limit: A Guide To American Debt Limit Made Easy, youtube video. I found this at Carpe Deim Blog, This is a short video that puts the Governments debt problem in perspective.

The Diverse Beer Economy As An Ecosystem, by Mark J. Perry, at Carpe Deim Blog. Explains how brewpubs and microbreweries are finding a niche market among all the big beer makers.

Higher Education: The Conventional Wisdom Is Wrong, by George Leef, at faculityrow.com. Here’s the money quote, “….for many students, their K-12 years leave them pitiably unprepared, both for post-secondary education and the world of work.”  And this, “Any increase in college enrollment will overwhelmingly come from such academically marginal students.”

How Bitcoin Will Be Neutralized By The Government, at economicpolicyjournal.com. The Gov. will do anything to protect its monopoly on money creation.