Keyword: economics

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  • Buy [fill-in-the-blank]! Why the economics of the “buy local” movement is remarkably weak

    12/02/2016 8:28:34 AM PST · by SeekAndFind · 19 replies
    Cafe Hayek ^ | 12/01/2016 | DON BOUDREAUX
    The argument that I make below against the economic case for “buying local” has almost certainly been made by others – perhaps, in some variety, even by me. So I here claim no originality. Still….Many advocates of “buying local” insist that buying local is good for the local economy and, hence, economically good for each person in the local economy. For a number of reasons, the economics on which the “buy local” movement rests is remarkably weak. (Just as it is a sure sign that someone has no sound grasp of economics if he or she believes that protectionism is...
  • The Surest Measure of How China's Economy Is Losing

    12/01/2016 7:42:31 PM PST · by MtnClimber · 8 replies
    Real Clear World ^ | 29 Nov, 2016 | Derek Scissors
    American presidential elections are a patchy time for the use of facts. It turns out presidential transitions are, too. Donald Trump as president-elect has triggered a slew of comments and articles about China’s pending leadership of the world economy. Journalists and pundits may value words over money; economists should not. There are data, grounded in real-world calculations, that show China’s economic importance falling -- not rising slowly, nor staying stable, but falling. The most important indicator is net private wealth, which is the single best measure of a country’s economic size and of the pool of resources available to its...
  • ACTUALLY, NO ONE CARED: Mountain Towns Have Better 2016 without Defunct Bike Race

    11/30/2016 7:24:52 AM PST · by snarkpup · 60 replies
    Colorado Peakk Politics ^ | November 29, 2016
    In fact, 2016 tax receipts were up in mountain towns now that the bicycle race is gone. Aspen, Steamboat, and Breckenridge all saw increased tax collections in August, a year after the race shut down their towns for a few hours. So it turns out it was all spin by PR hacks and the the state’s tourism office, who bragged about how “amped” that Coloradans were to have this bike race – so “amped” that the race went out of business and failed to deliver any tax boost to the communities it impacted.
  • Dollar hits 14-year high as Trump-fueled bond sell-off resumes

    11/16/2016 6:36:06 AM PST · by SoFloFreeper · 12 replies
    yahoo ^ | 11/16/16 | J McGreever
    The dollar hit a 14-year high against a basket of currencies on Wednesday as a post-U.S. election sell-off resumed across global bond markets, lifting Treasury yields and attracting investors to the U.S. currency.
  • Paul Krugman’s ‘Global Recession’ Prediction Lasted as Long as He Was Asleep

    11/10/2016 8:20:46 AM PST · by Beave Meister · 6 replies
    The National Review ^ | 11/9/2016 | PAUL CROOKSTON
    Paul Krugman has already had to walk back his prediction of a global recession following Donald Trump’s presidential victory last night. His initial post on the New York Times’ website was confidently apocalyptic about the prospects of Donald Trump plunging the world into a depression: “If the question is when markets will recover, a first-pass answer is never.” He concluded by saying, “So we are very probably looking at a global recession, with no end in sight. I suppose we could get lucky somehow. But on economics, as on everything else, a terrible thing has just happened.” Markets rebounded in...
  • Nassim (Black Swan) Taleb Explains Who Just Got Buried

    11/09/2016 6:07:33 AM PST · by blam · 9 replies
    Zero Hedge ^ | Tyler Durden
    Tyler Durden November 9, 2016 "The world's "intellectual yet idiot" class just took another blow to the chin, but who really got buried? Nassim 'black swan' Taleb explains..." "Simply put, as Taleb recently explained via Medium.com, The "Intellectual Yet Idiot" class..." What we have been seeing worldwide, from India to the UK to the US, is the rebellion against the inner circle of no-skin-in-the-game policymaking “clerks” and journalists-insiders, that class of paternalistic semi-intellectual experts with some Ivy league, Oxford-Cambridge, or similar label-driven education who are telling the rest of us 1) what to do, 2) what to eat, 3) how...
  • Sowell: Has Economics Failed?

    10/31/2016 4:19:11 PM PDT · by jazusamo · 19 replies
    Creators Syndicate ^ | November 1, 2016 | Thomas Sowell
    It is especially painful for me, as an economist, to see that two small cities in northern California — San Mateo and Burlingame — have rent control proposals on the ballot this election year. There are various other campaigns, in other places around the country, for and against minimum wage laws, which likewise make me wonder if the economics profession has failed to educate the public in the most elementary economic lessons. Neither rent control nor minimum wage laws — nor price control laws in general — are new. Price control laws go back as far as ancient Egypt and...
  • Socialists and their routine famines [aw!m vanity]

    10/29/2016 12:07:08 PM PDT · by Arthur Wildfire! March · 20 replies
    Communism, socialism, progessivism -- it's really just 'cronyism'. And so is Keynesian economics -- just the same trick with a different name. Famines are the most brutal kind of math and nearly impossible to hide. And the mathematics of famines proves something time and again: If you don't have a merit-based economy then your natural resources rarely mean anything. If you don't know about the Pilgrims' communism-induced famine just tune into Rush Limbaugh before Thanksgiving. Venezuela is the most recent example. Up until very recently its farms were privately owned. Not anymore. Recent headlines [*a*] 1. Venezuela Is Collapsing and...
  • Flashback: Fact-Free 'Middle-Out Economics' (Leftist Dream of Redistribution Over Wealth Creation)

    10/29/2016 5:45:31 AM PDT · by Son House · 8 replies
    National Review ^ | July 29, 2013 | James Pethokoukis
    It’s a new term for the old leftist dream of redistribution over wealth creation. President Obama has finally stopped blaming George W. Bush for America’s current economic mess. Now it’s Ronald Reagan’s fault. Obama didn’t use those exact words or make that explicit claim in his Knox College speech last week, but that’s the gist of it. The Great Recession and its slow-growth, high-unemployment aftermath are really just the culmination of three decades of pro-market economic policies that favored the rich at the expense of the middle class. Here’s how Obama rewrites economic history: The shared national purpose of World...
  • Wikileaks: The Dems Visit the Vatican

    10/21/2016 10:41:32 AM PDT · by grey_whiskers · 24 replies
    Wikileaks ^ | Oct 21 2016 | released by Wikileaks
    From:hms@sandlerfoundation.org To: ses@sandlerfoundation.org, james@sandlerfoundation.org Date: 2015-06-22 18:26 Subject: FW: PICO: Vatican Visit I thought you might find this of interest. From: Knaebel, Sergio Sent: Monday, June 22, 2015 12:58 PM To: Sandler, Herbert Subject: FW: PICO: Vatican Visit Herb, In case you did not get this from Steve. Sergio Knaebel Grant Director Sandler Foundation sknaebel@sandlerfoundation.org From: Scott Reed [mailto:sreed@piconetwork.org] Sent: Thursday, June 18, 2015 8:39 AM To: Knaebel, Sergio Subject: PICO: Vatican Visit Hi Sergio: I just sent a note to Steve with this summary of our visit to the Vatican. I look forward to talking soon. PICO sent a...
  • Hillary's trickle-UP economics and strange enablers [aw!m vanity]

    10/12/2016 1:40:27 PM PDT · by Arthur Wildfire! March · 9 replies
    Arthur W! March
    A FRiend recently pointed out that the opposite of 'trickle down' economics is 'trickle up'. How true! In any banana republic [such as the 'U' SA] the tyrant tops the economic food chain -- that's where the economy trickles up. And sometimes the minions are even more dangerous, such as Obama's 'subordinate', Hillary. View what she achieved already and then imagine her in the Oval Office [with her husband's experience to guide her] ... 1. Watered down AIDS medication [*a*] which should come as no surprise after their ... 2. Tainted prison blood scandal. [*b*] Anyone greedy enough to infect...
  • How Roman Central Planners Destroyed Their Economy

    10/07/2016 5:30:24 PM PDT · by Beave Meister · 15 replies
    Foundation for Economic Education ^ | 10/5/2016 | Richard M. Ebeling
    In 449 B.C., the Roman government passed the Law of the Twelve Tables, regulating much of commercial, social, and family life. Some of these laws were reasonable and consistent with an economy of contract and commerce; others prescribed gruesome punishments and assigned cruel powers and privileges given to some. Other regulations fixed a maximum rate of interest on loans of approximately 8 percent. The Roman government also had the habit of periodically forgiving all interest owed in the society; that is, it legally freed private debtors from having to pay back interest due to private creditors. The Roman government also...
  • Robin Hood Economics Falls Flat in Debates

    10/07/2016 4:18:45 AM PDT · by Kaslin · 30 replies
    Townhall.com ^ | March 7, 2016 | Michael Barone
    Robin Hood is dead. Or at least seriously ailing. The politics of taking from the rich and giving to the poor -- the politics that philosophers from Aristotle to James Madison dreaded -- just doesn't seem to be working as it used to. That's not to say that the United States is about to give up on progressive taxation. With its graduated income tax, the American tax system is by some measures the most progressive in any advanced country. For a generation, the jousting between Republicans and Democrats has been waged within a pretty narrow range. The former want a...
  • A lesson from the yacht tax [Nealz Nuze, 2011]

    The current demonization of jets is eerily similar to the demonization of yacht owners in the early 1990s. Back in 1990, George (read my lips, no new taxes) H. W. Bush passed a budget, which included a “luxury tax” on yachts over $100,000 in addition to jewelry, furs, etc. At the time, the Joint Committee on Taxation believed that in 1991 it would be able to rack up $31 million from these luxury taxes. What was reality? They collected just $16 million. Oops. You see, people changed their behavior in response to new tax laws. Duhhhhhh. And then what do...
  • How Bill Clinton Sent Manufacturing Jobs to China

    09/19/2016 1:09:57 PM PDT · by Kaslin · 12 replies
    American Thinker ^ | September 19, 2016 | Michael Bargo, Jr.
    On May 28, 1993 Bill Clinton signed Executive Order 12850. This improper EO changed the way the U.S. made trade deals with China and led to the loss of tens of millions of American manufacturing jobs. The story of how this was done not only proves that the Clintons are behind the loss of American jobs, but shows how Bill Clinton established a Democratic strategy for manipulating foreign policy that was copied by both Hillary while she was Secretary of State and Obama while he was president. At the time, U.S.-China trade relations were conditioned upon China’s humanitarian treatment of...
  • How pension deal went wrong & cost California taxpayers billions [OPPS Dems Off by 1/4 TRILLION $$ ]

    09/18/2016 4:12:15 PM PDT · by NoLibZone · 35 replies
    Los Angeles Times ^ | Sept 18,2016 | Jack Dolan
    It was a deal that wasn’t supposed to cost taxpayers an extra dime. Now the state’s annual tab is in the billions, and the cost keeps climbing. ith the stroke of a pen, California Gov. Gray Davis signed legislation that gave prison guards, park rangers, Cal State professors and other state employees the kind of retirement security normally reserved for the wealthy. More than 200,000 civil servants became eligible to retire at 55 — and in many cases collect more than half their highest salary for life. California Highway Patrol officers could retire at 50 and receive as much as...
  • California's Boom Is Poised To Go Bust -- And Liberals' Dream Of Scandinavia On The Pacific

    09/16/2016 1:04:08 PM PDT · by jcon40 · 27 replies
    Forbes.com ^ | Sep. 15' 2016 | Joel Kotkin
    As its economy started to recover in 2010, progressives began to hail California as a kind of Scandinavia on the Pacific — a place where liberal programs also produce prosperity. The state’s recovery has won plaudits from such respected figures as The American Prospect’s Harold Meyerson and the New York Times’ Paul Krugman. Gov. Jerry Brown, in Bill Maher’s assessment, “took a broken state and fixed it.” There’s a political lesson being injected here, as well, as blue organs like The New Yorker describe California as doing far better economically than nasty red-state Texas. But if you take a look...
  • If You Want Economic Growth, Vote Republican, Says … Harvard Business School?

    09/16/2016 3:45:49 AM PDT · by expat_panama · 12 replies
    Investors Business Daily ^ | September 15, 2016 | Editorial
    Economy: The latest annual report from the Harvard Business School on the state of U.S. competitiveness says political gridlock is getting in the way of strong economic growth. What it fails to mention is that Democrats are the ones blocking the pro-growth proposals the report advocates. The latest HBS report paints a bleak but accurate picture of the current economy -- lackluster economic and productivity growth, an incredibly slow rate of job creation... ...no meaningful progress on the critical policy steps to restore U.S. competitiveness... ...Don't believe it? Look at the eight-point plan itself and ask yourself which party supports...
  • War On Cash: Discontinue Professor Rogoff’s Stupid Commentary, Not the $100 Bill

    08/31/2016 10:18:46 AM PDT · by Lorianne · 13 replies
    Real Clear Markets ^ | 30 August 2016 | John Tammy
    In a recent opinion piece for the Wall Street Journal, Harvard economist Kenneth Rogoff declared that there's "little debate among law-enforcement agencies that paper currency, especially large notes such as the $100 bill, facilitates crime." Rogoff would like to discontinue the $100 in order to - try not to laugh - reduce crime. Can the eminent economist really be so naďve as to presume that the disappearance of a piece of paper would prove effective at making the U.S. (and the world) more honest and safe? Apparently he does, while lightly acknowledging what economists refer to as the "substitution effect."...
  • An economist boasted about the last five years' economic recovery.

    08/25/2016 9:19:02 PM PDT · by WilliamofCarmichael · 2 replies
    Federal government agencies | August 25, 2016
    but there was no reference to the federal government data I'm posting. My simple colors and symbols are superimposed on the Bureau of Economic Analysis' data to show a crude "graph" of the economic recovery. Hover to see the table numbers. Funny thing though it disappears when you include the Reagan, et al. years (shown at link).
  • Reaganomics V Obamunism

    08/22/2016 12:04:15 PM PDT · by mainestategop · 5 replies
    https://www.youtube.com/watch?v=WbsIdQt3E0A The best clips of the 1980 Debate between Reagan and loser president Jimmah Cartah! I think this illustrates the differences between capitalism and socialism and shows that Reagan is not to blame for the problems of the 80s but inherited the problems from the left. I wish there were more documentaries on how terrible things were in this country before Reagan took office. Sick of know nothing millennials and Generation X'ers and commie baby boomers who know nothing of how bad things really were and nothing about how things work posting lies on Youtube and elsewhere!
  • Trump’s Economic Speech a Home Run

    08/11/2016 5:11:34 AM PDT · by RoosterRedux · 12 replies
    townhall.com ^ | Dan Celia
    While the mainstream media didn’t give Donald Trump much credit, the economic plan he laid out this week at the Detroit Economic Club is exactly what we’ve been waiting for. Not only did the speech—which stirred repeated cheers from the audience—have great substance, but Trump came off as extremely “presidential.” However, most importantly, I liked the focus he placed on the average American in his remarks. All throughout his presentation, I couldn’t help thinking: “This is someone who truly does care about the average American.” Maybe you don’t believe that. But I do. I think Trump is aware that American...
  • Clinton to portray Trump economic plans as handouts for rich

    08/11/2016 5:58:50 AM PDT · by Olog-hai · 36 replies
    Associated Press ^ | Aug 11, 2016 7:02 AM EDT | Catherine Lucey and Lisa Lerer
    Hillary Clinton is set to go after Donald Trump’s economic agenda — aiming to portray her rival’s approach as offering handouts for the rich. […] Her campaign says she’ll try to make the case that the Republican presidential nominee’s plans would benefit him and his wealthy friends — and amount to an update of “trickle-down economics.” …
  • How it’s Possible for the US Economy to Be Strong Even if Many are Not Fully Participating

    08/10/2016 2:37:04 PM PDT · by gop4prez · 13 replies
    Grey Enlightenment ^ | July 23, 2016. Edit | NA
    The left argues that wealth inequality will doom and economy because ‘no one will be able to afford anything’. But the empirical evidence refutes this. Consumer spending is at record highs and keeps rising. Stocks that are dependent on consumer spending keep making new highs. Amazon.com, Johnson and Johnson, Disney, Nike, Facebook, Google, and the consumer staples and consumer discretionary ETFs are are record highs.
  • VIDEO: Trump brings down the house at Detroit Economic Club

    08/09/2016 8:37:14 AM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 08/09/16 | Dan Calabrese
    Tax cuts. Tax simplification What’s really news about the tax proposal Donald Trump laid out in Detroit yesterday is that it’s basically the same thing Republican House leaders are proposing: Three rates of 12, 25 and 33 percent rather than the seven we have today. He also proposed a special rate of 10 percent for repatriated profits brought home from overseas by companies operating abroad. This has long been one of Herman’s big issues, since we’re talking about hundreds of billions in capital that remain overseas because the companies would have to pay a 35 percent tax on them if...
  • LIVE:8/8/16 Trump in Detroit 11:45am ET, Pence Sioux City, IA 4pm and Council Bluffs, IA 7pm CT

    08/08/2016 3:01:39 AM PDT · by nikos1121 · 712 replies
    Monday, August 8, 2016: Donald J. Trump will deliver remarks at the Cobo Center. Live stream coverage begins at 11:45 AM ET. Detroit, MI Abandoned Buildings in Detroit Watch the LIVE STREAM of the event below beginning at 11:45 PM ET: Cobo Center Monday, August 8, 2016: Live stream of Governor Mike Pence’s town hall event in Sioux City, IA at the Sioux City Convention Center. Live coverage begins at 4:00 PM CT. Sioux City, IA Watch the live stream of the event below beginning at 4:00 PM CT: Sioux City Convention Center Monday, August 8, 2016: Live stream coverage...
  • Here's the Economist Whose Ideas Guide Trump

    08/01/2016 10:24:14 AM PDT · by oblomov · 7 replies
    Bloomberg View | 1 Aug 2016 | Tyler Cowen
    http://www.bloomberg.com/view/articles/2016-08-01/peter-navarro-is-the-economist-whose-ideas-guide-trump Link only due to copyright issues
  • Obama toasts failed African socialist (as a role model)

    07/01/2013 2:56:55 PM PDT · by markomalley · 23 replies
    The Daily Caller ^ | 7/1/2013 | Neil Munro
    President Barack Obama toasted the founding dictator of post-colonial Tanzania on Monday, who collectivized the nation’s low-tech agricultural sector, established a one-party state and left that African nation’s economy in ruins.“[Y]ou might say an American child is my child. We might say a Tanzanian child is my child,” Obama said after quoting the Tanzanian saying “my neighbor’s child is my child.”“In this way, both of our nations will be looking after all of our children and we’ll be living out the vision of President [Julius] Nyerere,” Obama continued. “The core values that he proclaimed for Tanzania also describe what both our...
  • Art Laffer: Trump Should Win Easily

    07/23/2016 11:48:27 AM PDT · by Jim 0216 · 54 replies
    weeklystandard.com ^ | JUL 19, 2016 | FRED BARNES
    Art Laffer is a famous economist, one of the brains behind President Ronald Reagan's supply-side tax cuts in 1981. But he was also a political adviser to Reagan and other presidential candidates. Based on history rather than polls or demographics, he insists Donald Trump will win the presidential race—and win easily. History is an argument not often heard in presidential elections except in one case: the likelihood that after one party holds the White House for eight years, that party probably won't win four more years. The one exception in the past half-century was the election of George H.W. Bush...
  • Laffer Curve Needs Change in Terminology From Government Speak to Individual Rights and Freedom

    07/23/2016 1:01:38 PM PDT · by Jim 0216 · 8 replies
    Love to see everyone enjoying the afterglow of this amazing GOP Convention. Haven’t felt like this politically since 1980. I think morning is once again coming to America. Art Laffer, economist, has analyzed Trumps chances and it brought up some thoughts I have on the Laffer Curve. I love the curve but I hate the terminology... Laffer and Reagan brought us an unprecedented and historic 25 years of growth and prosperity until the Left finally shut it down. Tax cuts are a must, but we need to flip the reasoning - we need to change the terminology and the paradigm...
  • Donald Trump to give economic speech Tuesday in (Monessen) Pennsylvania

    06/27/2016 10:35:59 AM PDT · by rightwingintelligentsia · 16 replies
    CNN ^ | June 27, 2016 | Daniella Diaz
    Washington (CNN) — Donald Trump will give an economic policy speech in Pennsylvania on Tuesday, his campaign announced Monday. Trump's address -- titled "Declaring American Economic Independence" -- in Monessen will be his first appearance on the campaign trail since his trip to Scotland, where he promoted his remodeled golf course. Monessen is a western Pennsylvania town located south of Pittsburgh and the venue is an industrial plant. A theme of Trump's campaign has been re-energizing American manufacturing, as well as fighting the side effects of globalization. Eric Trump, his son, teased Monday that his father will be making an...
  • Rio state government declares financial disaster as Olympics loom (games in danger alert)

    06/18/2016 6:15:37 AM PDT · by Zakeet · 23 replies
    Fox News ^ | June 18, 2016
    The acting governor of Rio de Janeiro's state government declared a state of financial disaster Friday in an effort to change budgetary priorities without disrespecting Brazil's fiscal laws. [Snip] [The governor's] office said in a statement that the decision was made because a dip in revenues from taxes and oil royalties was "stopping the state of Rio de Janeiro from honoring its commitment to the organization of the Olympic and Paralympic Games." He said the state is facing a "public calamity." "The financial crisis has brought several difficulties in essential public services and it could cause the total collapse of...
  • Minimum Wage vs. the Carwasheros: New York's new $15 wage floor pits man against machine.

    06/09/2016 9:29:35 AM PDT · by C19fan · 30 replies
    Reason ^ | June 9, 2016 | Jim Epstein
    Labor activists have long claimed that working conditions at New York City's car washes are the worst of the worst. In the Big Apple, an estimated 5,000 men scrub and vacuum other people's vehicles for a living. A decade ago, it was common for these so-called carwasheros, many of whom are illegal immigrants from Mexico and Latin America, to earn $3 per hour plus tips, with no extra pay for overtime. Straight cash, off the books. When demand peaked in the winter months, they would often put in 12 hours a day, six days a week. Regulators paid little attention,...
  • Illinois Legislature Overrode Rauner Veto To Pass New Chicago Pension Law

    05/31/2016 2:46:23 PM PDT · by ChicagoConservative27 · 5 replies
    On Monday, the Illinois legislature passed a bill lowering the amount the city of Chicago has to pay into police and firefighter pensions in 2016. To do this, the legislature overrode a veto from Gov. Bruce Rauner, confirming what we already knew: It's really, really, really, really hard to agree with Rauner about anything at this point. For no one would it be harder than Mayor Rahm Emanuel, once Rauner's buddy in vacationing and wine-sipping. Rahm became basically apoplectic when Rauner vetoed the pension bill on Friday, saying in a variety of press statements that Rauner's veto would trigger a...
  • The Most Powerful Wealth Generator There Is

    05/28/2016 1:46:22 PM PDT · by 2ndDivisionVet · 38 replies
    Arts Mechanical ^ | May 27, 2016 | JC Carlton
    Economist have a hard time understanding the causes of growth and wealth creation. For instance, economic theory, as much as it has tried, has yet to explain the industrial revolution. The weighty tomes of economists talk of “animal spirits,” or “the invisible hand” as if all that activity happens with no rhyme or reason. In the end they can’t explain or seem to understand the really important. This recent op ed in the WSJ gets it. Actually, the “we” of comparative enrichment includes most countries nowadays, with sad exceptions. Two centuries ago, the average world income per human (in present-day...
  • Price of corn flour in Venezuela soars 900 percent

    05/24/2016 9:03:28 AM PDT · by C19fan · 27 replies
    AFP ^ | May 24, 2016 | Staff
    Venezuelans on Tuesday woke up to discover that the government-controlled price of corn flour -- used to make corn patty arepas, a staple of local cuisine -- has risen 900 percent. The socialist government of President Nicolas Maduro had kept the price of corn flour frozen for 15 months at 19 bolivares a kilogram (two pounds).
  • Production of Coke halted in Venezuela for lack of sugar

    05/23/2016 3:32:18 PM PDT · by Red in Blue PA · 41 replies
    May 23 (Reuters) - The Venezuelan bottler of Coca-Cola has halted production of sugar-sweetened beverage due to a lack of sugar, a Coca-Cola Co spokeswoman said on Monday. Venezuela is in the midst of a deep recession, and spontaneous demonstrations and looting have become more common amid worsening food shortages, frequent power cuts and the world's highest inflation.
  • Fannie, Freddie and the Secrets of a Bailout With No Exit

    05/21/2016 7:26:36 AM PDT · by Lorianne · 8 replies
    New York Times ^ | 20 May 2016 | Gretchen Morgenson
    When Washington took over the beleaguered mortgage giants Fannie Mae and Freddie Mac during the collapse of the housing market and the financial crisis of 2008, it was with the implicit promise that they would be returned to shareholders after being nursed back to health. But now, with the unsealing of documents this week that were produced as part of a lawsuit filed against the government, new evidence is coming to light on how intimately the White House was involved in the Treasury’s decision in August 2012 to keep all the companies’ profits for the government. That move effectively maintained...
  • Economics Has Failed America

    05/20/2016 7:18:57 AM PDT · by drop 50 and fire for effect · 46 replies
    Foreign Policy ^ | 19 May 2016 | Daniel Altman
    When it comes to the impact of global trade, the dismal science has done a dismal job explaining how to help workers hurt by globalization. As a recovering economist writing on behalf of my erstwhile field, I would like to apologize to every American who has lost a job or a livelihood because of globalization. Economics has failed you. It has failed you because of ideology, politics, and laziness. It has failed you because its teachings are woefully incomplete, and its greatest exponents have done almost nothing to complete them. There are “positive” questions in economics that have mathematical answers...
  • Trump Voters: Not So Irrational: (Political scientist who applies the ‘rational choice’ theory... )

    05/07/2016 11:37:34 AM PDT · by Beautiful_Gracious_Skies · 38 replies
    The WallStreet Journal ^ | May 6, 2016 | Allysia Finley
    The political scientist who applies the ‘rational choice’ theory of economics to voters says there was a method to the GOP’s primary madness. Go to the source:
  • When the floor becomes the ceiling

    04/25/2016 1:00:08 PM PDT · by stocksthatgoup · 9 replies
    Vanity | 4/25/2016 | J Twohig
    JT Economic Law - when the floor becomes the ceiling! If you look back at the history of price supports you will find that price supports became a floor price for commodities. Producers would continue to work as long as they could make a profit at that base price. A good example is the history of milk price supports. Rarely did prices rise above the floor of support. So much milk was produced that much of it was diverted to the making of cheese. By setting the minimum wage or floor at $15, we will be producing an artificial ceiling...
  • Donation of surplus peanuts from US dismays Haiti farmers

    04/23/2016 8:53:00 PM PDT · by huldah1776 · 36 replies
    Fox News ^ | April 15, 2016 | AP
    MIREBALAIS, Haiti – The barefoot farmer oversees three teenage workers as they attack weeds with spades in a sunbaked field of peanut plants, a vital cash crop often grown on Haiti's marginal farmland. If he's lucky, Francois Merilus will reap a meager harvest amid a lengthy drought that has shriveled yields and worsened Haiti's chronic hunger. Now the subsistence farmer is dismayed by what he believes could be the latest challenge to his ability to eke out a living: free peanuts arriving from the U.S. as humanitarian aid. "Foreign peanuts can only make things harder for us," said Merilus, whose...
  • 10 Things to Do Before Age 40 to Retire Comfortably

    04/22/2016 10:01:15 AM PDT · by MtnClimber · 93 replies
    US News and World Report ^ | 21 Apr, 2016 | Maryalene LaPonsie
    You should check these items off your to-do list by 40 if you want to retire with enough money in the bank. A worker turning 40 today has 25 years to prepare for retirement by age 65. This may seem like a long time, but in terms of retirement preparation, it represents a swiftly closing door. Compound interest is most powerful when it has a longer term in which to work its magic, and workers who fail to practice good financial habits early in their career may find they run out of time to correct mistakes prior to leaving the...
  • Bernie: You Think I'm Radical? 'Read What the Pope Is Writing'

    04/08/2016 6:33:06 AM PDT · by governsleastgovernsbest · 25 replies
    NewsBusters ^ | Mark Finkelstein
    What does it say about Bernie Sanders--and the Pope--that when it comes to economics, Sanders sees Pope Francis as more "radical" than he is? Appearing on today's Morning Joe, Sanders discussed the news that he has been invited to visit the Vatican. Sanders mentioned that [other than on social issues] he is a "big, big fan of the Pope." Said Sanders: "people think Bernie Sanders is radical. Uh-uh. Read what the Pope is writing." Sanders went on to describe the Pope's views on economics: "he's talking about the idolatry of money, the worship of money, the greed that's out there...
  • GE chairman explains in op-ed: Bernie Sanders is a complete economic ignoramus

    04/07/2016 8:34:05 AM PDT · by Sean_Anthony · 20 replies
    Canada Free Press ^ | 04/07/16 | DAN Calabrese
    Our word, not his . . . but the message is unmistakable. Jeff Immelt has been around awhile as chairman and CEO of General Electric, and I’m sure Bernie Sanders is not the first blowhard politician he’s heard railing against big business without the slightest idea of how or why major companies do the things they do. So maybe it’s because Sanders is getting so much attention, or maybe it’s because he’s even more spectacularly wrong than your average blowhard, but Immelt felt the need to respond when Sanders accused GE of “destroying the moral fabric” of America. And boy,...
  • Economic Miseducation

    04/06/2016 7:37:40 AM PDT · by Sean_Anthony · 8 replies
    Canada Free Press ^ | 04/06/16 | Dr. Ileana Johnson Paugh
    There is no magical pot of gold at the end of the rainbow, nor another bubble that would bring in enough revenue to offset the very large budget and reduce the unpayable national debt I have taught basic principles of economics for thirty years to group after group of college students who were often cross-eyed, bored, running late, playing with their phones, angry that I gave them too many notes, “hard tests,” and too many assignments which interfered with their busy social lives. Many students were there just to get a grade and to complete their useless social studies degrees...
  • Business in America: The problem with profits (lack of competition)

    03/29/2016 2:19:55 AM PDT · by BlackAdderess · 13 replies
    The Economist ^ | March 26, 2016 | From the print edition
    AMERICA used to be the land of opportunity and optimism. Now opportunity is seen as the preserve of the elite: two-thirds of Americans believe the economy is rigged in favour of vested interests. And optimism has turned to anger. Voters’ fury fuels the insurgencies of Donald Trump and Bernie Sanders and weakens insiders like Hillary Clinton. The campaigns have found plenty of things to blame, from free-trade deals to the recklessness of Wall Street. But one problem with American capitalism has been overlooked: a corrosive lack of competition. -snip- The second step is to make life easier for startups and...
  • Bill Clinton and Milton Freidman Economics

    03/21/2016 9:02:47 PM PDT · by thesligoduffyflynns · 15 replies
    The American Mirror ^ | march 21,2016 | kyle olson
    http://www.theamericanmirror.com/video-bill-clinton-slams-awful-legacy-of-last-8-years/
  • To improve the economy, we don't need more govt programs, we need more entrepreneurs

    03/19/2016 11:13:19 AM PDT · by 4yourcountry · 22 replies
    Pulse ^ | 3/19/2016 | Williams
    Human beings have a restless edge, an impulse to tinker, to do things in a different way. And that fact is a huge and vital thing. Mankind is capable of original ideas, concepts that have not been conceived before—and those who attempt to suppress this create a prison of the mind and spirit. It is good to have books to read and a Rubik’s Cube to play with, but a prison it would nonetheless be if people couldn’t follow their own instincts and conscience. If they couldn’t leap into the unknown. That’s what business is all about....
  • Are we be better off with the thousands of factories shut down and millions of jobs lost?

    Are we be better off today with the thousands of U.S. factories that have shut down and millions of American jobs lost and the trillions in accumulated debt that we've run up in the last couple decades of free trade? And, of course, this is due to many factors including such things as: Big government Regulations High taxes Unions driving up costs Cheap labor overseas Fewer regulations overseas Lower taxes overseas Trade deficits etc., And doubly exasperated by poor trade deals? Or is this all a myth? Are we better off with cheaper foreign (cheap) goods, fewer U.S. factories, fewer...