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Economics

Saturday, April 19, 2014

Strangling Regulation

I have frequently alluded to strangling regulation as a major reason for the glacially slow recovery from the Great Recession of 2001-08, noting that it is a recapitulation of Franklin Roosevelt’s socialistic New Deal tactics.  During the dreary days of the 1930s Depression, everybody was continually being hammered with huge tax increases, and businesses were continually threatened with punitive regulations, along with governmental support for Spanish-style syndicalist, industrial labor unions and nationalization of agriculture.

Obama has bullheadedly rampaged along that same path, with the same result: businesses have feared to invest in new or expanded production, not knowing what future costs and restrictions may be.

Friday, April 04, 2014

Big Government Continues to Strangle the Economy

Latest seasonally adjusted estimates of employment suggest that private employment may, after five years, finally have inched up to levels prevailing in January 2008.  Meanwhile, the Labor Department’s estimate of real unemployment, the U6 measure including people who have given up trying to find a job, is 12.7%, nearly double the 6.7% based on people still in the active labor market.

Read Larry Kudlow’s sumation on why Obama’s policies have placed the biggest drag on economic recovery since the socialistic collectivism inflicted upon the nation by Franklin Roosevelt during the Great Depression of the 1930s.

Tuesday, April 01, 2014

Feckless And Destructive Government Intervention

However well-intentioned the Federal Reserve’s monetary policies, they have done almost nothing to create jobs for ordinary citizens, while greatly enriching Wall Street bankers and stock market speculators.

Sunday, March 23, 2014

Economics, The Dismal Science?

In the 18th century, when Thomas Malthus posited population growth outstripping growth of food supplies, economics became known as the dismal science.  Economic policy has become more sophisticated since then, but warmth, fuzziness, and immorality have no place in it.

THE IMMORALITY OF PROGRESSIVE ECONOMICS

Monday, March 17, 2014

The Road To Financial Decadence

While you may not share David Stockman’s blanket antipathy toward U.S. military engagement with the rest of the world (I don’t), his recitation of the monetary and economic history of the 1913 to 1929 era is on the mark.

How World War I Paved the Way for the Warfare State


The 1914-1929 Boom Was An Artifact of War And Central Banking


For a more detailed presentation of the economic and monetary history of that period, read Banjamin M. Anderson’s Economics and the Public Welfare.  Mr. Anderson was chief economist of the Chase National Bank during that period.

Saturday, February 22, 2014

Minimum-Wage Mistakes

Nelson Mandela’s lesson for Bill de Blasio (and for President Obama).

 

Wednesday, February 19, 2014

Minimum Wage Laws Benefit Special Interests, Not The Poor

Read this analysis from the Mises Daily blog.

Quote:

Virtually everyone who supports higher minimum wages asserts their intent to help working families. But it may frequently be a false compassion whose common denominator is advancing one’s own self-interest while harming working families. That would also explain why so many are unwilling to seriously consider whether such compassion actually works, rather than just sounding good.

Tuesday, February 18, 2014

Living On The Dole Or In Debt

Liberal-progressives can take pleasure in the Wall Street Journal’s report today that U.S. household debt posted the largest quarterly increase since before the recession.  This while the country remains adrift in the doldrums of the worst economic “recovery” since the liberal-progressive Great Depression of the 1930s. 

Given the liberal-progressive apotheosis of self-indulgence and immoral hedonism, it’s not surprising.  The Federal Reserve has been lavishing fiat money on the stock market, aiming to create a “wealth effect” that will induce people to resume their profligate use of debt that created the housing bubble and implosion of the banking system in 2007-2008.

Rising household debt represents continuation of the long-term trend away from the ethos of hard work and savings for a better future, a trend that gladdens the hearts of liberal-progressive-socialists whose religious catechism includes Keynesian economic doctrine.  Our educational system, from grade school to college, has for more than five decades inculcated the unconstitutionally established national religion of socialism: the belief that saving causes recessions, that capitalism is no more than greed and anti-social competitiveness, that only the collectivized, all-powerful national political state can dispense social justice.

 

Saturday, February 15, 2014

Liberal-Progressive Myopia? Or Just A Pack Of Lies?

Refuting Robert Reich, by Arnold Ahlert.

Wednesday, February 12, 2014

Appearances Deceive Obama

Highlighting a left-wing shibboleth, the Los Angeles Times headlined its coverage of Obama’s January 28, 2014, State of the Union Address:  State of the Union 2014: Obama to focus on income inequality

Hardly anyone is in favor of income inequality, but Republicans’ implied responsibility for creating it is to be a major campaign point in this year’s Congressional campaigns.  It turns out that Obama and his cohort don’t have the facts to back their case.

We’re Having The Wrong Debate On Economic Inequality, by Washington Post columnist Robert J. Samuelson.