Posted tagged ‘Trump’

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.

CARTOON

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The Election Is Over! What Happens Now?

November 17, 2016

United States of America elections 2016 word cloud

Now that the dust has settled, or is settling, after the presidential election, lets look into the crystal ball and see what the future brings.

FOUR THINGS THAT WILL HAPPEN

1) We will see a true opposition party to the party in power. The democrat party will use every parliamentary tool available to them, in the House and Senate, to stop everything the majority party, lead by Trump, wants to pass. They will also use every political and rhetorical trick (lying) for the same purpose. There is nothing wrong with this. The  minority party is supposed to be a check on the power of the majority party.

The Republicans should take notes on what the Democrats will do, because they certainly didn’t use their power and political rhetoric to thwart the agenda of Obama and the Democrats the last eight years.

2) The leaders in the Democrat party will do everything politically and rhetorically to chip away at the Trump Presidency. Even though they may talk about the parties coming together, they don’t mean it. How can a party lead by people who want to centrally plan every aspect of peoples lives, agree with people who want to cut the size and power of government? Government gives central planners their power. These planners don’t want that power taken away. Of course I’m assuming that the Republicans want to cut the size and scope and government. We all know that there many big government Republicans. Many of Trumps stated policies will expand government power and the debt. In fact some of these policies will not work because they disregard the laws of economics. But more on this some other time.

3) Being anti-war will be back in vogue. Where has code pink been for the last eight years? Obama has intervened in Egypt, Libya, and Syria. He has ordered 10 times more drone strikes than Bush. We are still in Afghanistan. Gitmo remains open. Where have the protesters been? Or are these groups purely political?

4) Investigative journalism will make a come back. After taking an eight year break, the main stream media will again start doing their job of being a check on government power and corruption. They will do this because their vision of the world doesn’t coincide with the party in power, not because of some new found fidelity to their job. I wish the MSM would treat every President, Senator, Congressman, and bureaucrat like they treat Republican Presidents. If you thought they hammered Trump during the election, you haven’t seen anything yet.

WILL IT WORK?

One of the most important things that has happened because of this election is the MSM has cut it’s own throat. This election has pulled back the curtain on the MSM. People have finally witnessed what they thought was true all these years. The MSM has discredited itself in the minds of enough people, that no one trusts them. The propaganda they use to advance their world view doesn’t have the effect that it used to, because they don’t have a monopoly on information anymore. The marginal straw has finally broken the camels back when it comes people trusting the MSM. And that’s a good thing.

Keeping government power in check is the job of the opposition party, the press, and the people. Unfortunately this doesn’t happen when the Democrats are in power. Why? Because the MSM is biased toward the world view of the Democratic party, people are too busy with the daily grind to stay informed, and the Republicans are too afraid of the media and the Democrats to mount any real opposition. Presidents, Senators, and Congressmen of both parties should be treated like the MSM treats Republicans. People not trusting people in positions of power is a good thing for individual liberty.

 OBAMA HAS CREATED MORE REPUBLICANS THAN THE GOP HAS CREATED

At the start of the Obama presidency the Democrat party had 57 Senators plus two Independent Senators caucusing with Democrats. The Republicans had 41. Democrats had 255 congressmen. The Republicans had 179. Democrats had a lock on all three branches of government. Democrats also had 29 Governors. The Republicans had 21. Democrats had control of 27 State legislatures. Republicans had control of 14, with 8 split.

As Obama tried to push through the Affordable Care Act (what an oxymoron), tea party and liberty groups started to organize politically. After the last 4 election cycles, 2010, 2012. 2014, and 2016, we are seeing the fruits of their labor. Here is how the score card reads now. The Republican party now controls the Presidency, 52 Senate seats, 239 house seats, and 34 Governorships. The Republicans control both the senate and house in 32 states, 3 states are split (read here).

Candidates who want smaller government have been beating establishment Republicans in primary elections since 2010. The Republican party is slowly turning more libertarian in its thinking. What’s left of the old establishment Republicans will eventually loose in a primary or retire. Their replacement will be a more liberty minded candidate. Purging the Republican party of leaders who think solutions come from big government takes time.

The Democrats can blame their losses on Obama and themselves. Obama pushed his big government central planning agenda (namely the Affordable Care Act) and the Democrats helped get it passed. They are now reaping their just rewards.

CONCLUSION

We know the Democrats and the main stream media will oppose Trump and the Republican majority in congress. It is our job as followers of Austrian economics to oppose Trump and the Republicans when they try to pass legislation that expands the size and power of Government. We don’t want Republicans to “get something done” if that “something” goes against the laws of economics, takes away individual liberty, and increases the power of Government.

Thomas Sowell: Random Thoughts

November 1, 2016

Thomas Sowell

Here are some of Thomas Sowell’s recent Random Thoughts (click here). Dr. Sowell’s greatest gift is he always makes us think.

-“It is astonishing that some people think that the answer to the problems of ObamaCare is to go to a “single payer” system. But “single payer” is just another way of saying “government monopoly.” does anyone pay attention to how government monopolies operate – from the local DMV to Veterans Administration hospitals?

-“Politics has turned the lofty ideal of equality into the ugly reality of resentments of other people’s achievements – and a feeling that the world owes you something, while you owe nobody anything, not even common decency.”

-“Why  should the fate of the economy depend on the guesswork of the Federal Reserve – and the guesswork of the stock market about what the Federal Reserve will guess?”

“Politicians have learned to call their spending of the taxpayers’ money “investment, ” even when it is just pouring money down a bottomless pit, in order to win votes from the recipients.”

-“Hillary Clinton has performed the verbal magic of turning her years of repeated disastrous decisions in foreign policy into a political asset called “experience.

-“The political left’s hatred of Donald Trump is ironic, because both he and they have the same pattern of automatic demonizing of those who disagree with their views, rather than confronting opposing arguments with hard evidence or convincing logic.

“Have we reached the ultimate stage of absurdity where some people are held responsible for things that happened before they were born, while other people are not held responsible for what they themselves are doing today?

-“If the media seriously wanted to report the news – instead of spinning it – they could stop calling rioters “protesters” and stop calling terrorists “militants.”

“Each political party has picked a loser this year. Unfortunately, one of them is going to win, and then the whole country can lose, big time.

-“One of the mysteries of the ages is why the political left has, for centuries, lavished so much attention on the well-being of criminals and paid so little attention to their victims.”

“The monumental tragedies of the 20th century – a world-wide Great Depression, two devastating World Wars, the Holocaust, famines killing millions in the soviet Union and tens of millions in China – should leave us with a sobering sense of the threats to any society. But this generation’s ignorance of history leaves them free to be frivolous – until the next catastrophe strikes, and catches them completely by surprise.”

 

Related ArticleThomas Sowell, “The Point Of No Return“, at austrianaddict.com.

Related ArticleThomas Sowell: Random Thoughts, at austrianaddict.com.

Related ArticleThomas Sowell” Random Thoughts On The Passing Scene, at austrianaddict.com.

Related ArticleThomas Sowell: Random Thoughts, at austrianaddict.com.

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

Some Econ Homework

October 6, 2016

Government Medical “Insurance“, by Murray Rothbard, at misesca. This article, written in the 90’s, tells why prices go up when third-party payers step in between demanders and suppliers. Government decrees about health care insurance won’t stop economic forces from trying to correct the intervention by Government. Excerpt from the article: “In economic terms…..the demand curve for physicians and hospitals can rise without limit…..the suppliers can literally create their own demand through  unlimited service. In order to stanch the flow of taxes or subsidies…the government and other third-party insurers have felt obliged to restrict somewhat the flow of goodies: by increasing deductibles, or by putting caps on Medicare payments….this has been met by howls of anguish from medical customers who have come to think of unlimited third-party payments as some sort of divine right, and from physicians and hospitals who charge the government with “socialistic price controls” – for trying to stem its own largesse to the healthcare industry!”

The Market And The State, by Ludwig von Mises, at misesca. Mises tells us the different outcomes when people make voluntarily exchanges in the market vs. what happens when people are forced to make exchanges because of Government intervention into the market. Excerpt from the article: “The total enslavement of all members of society is not a merely accidental attendant phenomenon of the socialist management. It is rather the essential feature of the socialist system, the very effect of any thinkable kind of socialist conduct of business. It is precisely this that the socialist authors had in mind when they stigmatized capitalism as “anarchy of production” and asked for the transfer of all authority and power to “society.” Either a man is free to live according to his own plan or he is forced to submit unconditionally to the plan of the great god state”.

Keynes: The Crackpot Economist Of ZIRP, by Gary North, at misesca. Excerpt from the article: “….the universal phenomenon of the rate of interest  has been explained by Austrian School economics in terms of what Mises called time preference: the discount applied by acting men to future goods and services when compared with the same goods and services in the present…. Until you come to grips with the fact that the economics profession, central bankers, and hedge fund analysts are crackpots, you will not understand the modern economic world. When the marginal efficiency of anything is zero, it is a free good. It is not scarce. it commands no price..”

The Donald Nailed It: “We Are In A Big Fat Ugly Bubble“, at davidstockmanscontracorner.com. Excerpt from the article: “…the utterly unnatural interest rates engineered by the Fed have fueled an egregious inflation of the financial asset prices and that “some very bad things” are going to happen when the Fed’s market rigging operation is finally halted…….after 94 months on the zero bound the Fed has executed the most massive income and wealth transfer in American history. Upwards of $2.5 trillion has been extracted from the hides of main street savers and retirees over the eight year period (@ $300 billion per year). all of that and then some was gifted to the banks and Wall Street speculators….if the Congress were to enact anything remotely similar to the Fed’s savage and relentless attack on savers and wage-earners, they would be on the Receiving end of the torches and pitchforks that would descend on the Imperial City.”

The Great Debt Unwind Beneath The Surface: US Commercial Bankruptcies Soar, by Wolf Richter, at wolfstreet.com. Excerpt from the article: “Bankruptcies – and defaults, which precede them – are indicators of the “credit cycle.” The Fed’s policy of easy credit with record low-interest rates has encouraged businesses to borrow. And borrow they did. In Oct. 2008, as the prior credit bubble was beginning to implode, there were $1.59 trillion commercial and industrial loans outstanding at all US banks. Then the Financial Crisis hit, and loans outstanding plunged, many of them wiped out or restructured in bankruptcies. But then the Fed solved a credit problem with even more credit, and as of July 2016, there were $2.064 trillion of C&I loans outstanding, a 30% jump from the peak of the prior credit bubble that blew up so spectacularly…..Now the hangover is setting in from the Fed’s efforts to solve a debt problem with even more debt, to gain very little economic growth. And there is a leading indicator of big trouble already fermenting in the banks.”

What Makes Mises.org Different, by Ryan McMaken.  Mises.org (About Mises) is the place to go when you want to understand economics. It is your one stop shopping place for all things related to economics. Excerpt from the article: “In a typical month, mises.org receives more than a million page views, which is pretty remarkable for a site where writers regularly talk about things like the “subjective theory of value” and “fractional reserve banking….most of our traffic continues to be people looking for real, genuine economics. they want to gain a better understanding of prices, government intervention in the market, and especially business cycles…..When people look for answers beyond the mainstream, they usually find us.

Stumbling across mises.org  in 2008 is what started me on an intellectual journey that will never end. There are moments when I think it would be better to be blissfully ignorant about economic realities, and listening Hillary’s and Trump’s talk about “the economy” are some of those moments. Their economic pronouncements drive me crazy……. Is ignorance better than insanity?

 

Related ArticleHere Is Some Econ Homework, at austrianaddict.com.

Related ArticleYour economic Homework, at austrianaddict.com.

Hillary vs. Trump: Seriously?

January 27, 2016

 

THIS COULD BE YOUR CHOICE IN 2016. LET’S TAKE A LOOK.

 

Hillary Clinton – American Politician by LibertyPen.

Hillary thinks she is a member of the ruling aristocracy and above the law. She is in favor of government solutions for every problem. What you want for yourself doesn’t matter to her. She knows what’s best for you.

 

The Donald, The Widow, And Eminent Domain, by Institute For Justice.

Trump thinks he is a member of the business aristocracy and above the law. As a businessman, he used the force of big government as the solutions to his problems. What you want for yourself won’t matter to him. He knows what’s best for you.

WHAT’S THE DIFFERENCE?

The only difference between Hillary and Trump is that one is running as a Democrat and the other is running as a Republican. But make no mistake about it, both are playing for the same Big Government team. Anyone who believes in the sovereignty of the Individual over the state, as spelled out in the Constitution, should think about what these two have said and done in the past. Government coercion will increase if either one is elected.

Related ArticleThe Economics Of Hillary Clinton, by William L. Anderson, at mises.org.

Related ArticleDonald Trumps Contempt For The Free Market, at economicpolicyjournal.com.

Related ArticleDonald Trump Economic Ignoramus, at economicpolicyjournal.com.

Observations From The Margin

December 18, 2015

Observation Tower

-People on the left are citing the constitution for their outrage to Trump wanting to temporarily stop Muslim immigration. This is curious at best considering the left has traditionally used the constitution for toilet paper. Now they want to wrap themselves in the very document that stands in the way of everything these central planners want to do.

-The left brands certain groups of people as bigoted toward another group simply because they are not a member of that group. But isn’t the left just as guilty of bigotry against the non favored groups by simply choosing a favored group?

-Politicians place each of us into groups that can be labeled by race, sex, religion, profession etc. Since we are looked at as members of groups. I have a question? When is an activity by a few members of a group considered an outlier? And when does an increased number of people engaged in the activity cross the line and become a discernible profile of the group?

-When Romney ran for President in 2012, I heard conservatives say that we need a businessman to “run the country”. Now we have Trump leading in the polls and conservatives are saying, and he is saying, that we need a businessman who knows how to make deals. We don’t need a businessman. We need someone in the Presidency who understands how the free market works. Businessmen don’t need to know how a free market works to be successful in a free market economy. In fact businessmen like Trump donate to and lobby politicians so they can use the power of government to help their businesses and at the same time hurt their competitors. This is why Trump has donated to both parties. He is playing the political game. So when he says he’s “not a politician”, he is wrong from the standpoint of dealing with bureaucrats. But when it comes torpedoing political correctness, he is correct. This is the basis of his support. I like this part of him because it upsets the big government political class of both parties. But I wish his supporters would understand that he is not a free market guy. He is for government solutions to economic problems.

-After the recent terrorist attacks in San Bernardino the President came out and spoke about gun control before the bodies were even cold. Does he realize he is driving even more nails into the coffin of gun control. Humans have a natural instinct for self-preservation. When we see people shot dead by terrorists,who are willing to fight to their death, our natural instinct tells us we need to protect ourselves against these types of situations. Since cops can’t arrive in time to stop terrorist attacks, people are deciding to arm themselves. It’s our natural instinct for self-preservation, and Presidential pontifications about gun control are seen as either ignorant, stupid, or political.

-The Republicans pusillanimous (click here) behavior in standing up to the left, as was just demonstrated by speaker Ryan caving in on the recent budget ‘deal’, is the reason that Trump, Cruz, and Carson are the leading Republican candidates. The beltway establishment hasn’t figured out that the huddled masses don’t want another political insider in a position of power.

CARTOONS from the burningplatform.com.

Political Cartoons by Gary Varvel

Political Cartoons by Gary Varvel

Political Cartoons by Nate Beeler

 

Must Read “Leftovers”

September 1, 2015

Why The Federal Government Fails, by Chris Edwards, at cato.org. This short article gives five reasons why Government fails. But like a lot of things, judging success and failure depends on the perspective of the person doing the judging. President Obama thought Obamacare was a success for the simple fact that it got passed. I think Obamacare was a failure because the cost of my insurance has risen 40%. Of course I am just an evil person looking after my own self-interest, and the President is just a humble public servant who would never consider his self-interest when making decrees from on high.

Obama: Earning Contempt, at Home and Abroad, by Victor Davis Hanson, at victorhanson.com. If I misread human nature and cultural differences not many people are affected and the clean up has a low-cost. But a misread at the national level affects millions and the clean up has a high cost if it can be cleaned up at all. Could the recipients of Obama’s outreach and deference see this as weakness and worthy of contempt?  “…is naive appeasement more dangerous than wise deterrence, or …. does keeping quiet and carrying a large stick trump sounding off while wielding a toothpick.” Does appeasing a bully or a child, who is a brat, work? It depends on how you define work.

Jim Grant: The Fed Has Turned The Stock Market Into A Hall Of Mirriors, at reasontv.

Sorry Mr. Trump, Canadian Healthcare Is Not Working, at fraserinstitute.org. Excerpt from the article, “Canada suffers from a high-cost healthcare system that delivers only modest performance across most measures of health care. Put simply, Canada’s model of health care delivery and financing is not something to be emulated but rather avoided.”

Venezuela Is Adding More Zeroes To Its Currency To Deal With Hyperinflation, at bloomberg.com. Increasing the money supply is the definition of inflation. Today we think that rising prices is inflation. Rising prices can be caused by many things one of which is increasing {inflating} the money supply {inflation}. The cure for inflation {increasing the money supply} is not increasing the money supply.