Archived Posts from this Category
Archived Posts from this Category
During the seemingly endless build-up to the Iowa caucuses, there was one consistent refrain repeated over and over. It’s like the big lie — the more you keep repeating it, the more people are going to believe it, but it remains a lie.
The lie was simply this: that the political parties have to choose between social issues and economic issues. This year, the media and the party machines are telling us ad nauseam that the only issue that matters is the economy.
So any candidate who wants to win the White House should just shut up about things like marriage, the sanctity of life, religious liberty, and those other annoying issues that distract us from focusing on jobs and the economy.
But that’s crazy! Doesn’t anybody get the connection between the social issues and economics issues more »
President Obama has been speaking lately of what he views as an upswing in the economy. “The economy is growing again,” he declared in the State of the Union address. Not surprisingly, he failed to mention that for 104 consecutive weeks, larger and larger numbers of Americans have become dependent on welfare. Or that within those families receiving welfare, fathers have become more and more irrelevant, and youth crime has increased.
But, then, those are not facts that one expects to hear from the President in a State of the Union address, or anywhere else. What we hear, again and again, is the fantasy that government creates jobs, government drives the economy, government feeds kids and sends them to bed happy. The facts are just the opposite.
In fact, the Department of Agriculture has just reported that 43.6 million Americans are now receiving food stamps. more »
Vladimir Lenin had a much simpler time of it. Following the October Revolution, he swiftly nationalized nearly all industry, commerce, and agriculture in the Soviet Union. Those who opposed the takeovers, such as those millions of small landowners known as the kulaks, were executed or sent to die in Siberia.
American leftists are far more civilized. Rather than send landowners and stockowners to Siberia, they simply raise federal and state taxes to combined marginal rates of 60% and subject the rest to estate taxes after the owner dies. If the owner fails to pay up, he is marched off to prison. Meanwhile, corporations are subject to another form of control: the tyranny of activists on government agencies that view the private sector as the means of social change. more »
8/25/2010 – Michael Strong –
University faculties are often ignorant of the fact of entrepreneurial value creation. One such faculty member is the influential human rights scholar Judith Blau, Professor of Sociology at the University of North Carolina-Chapel Hill. Through her membership in the American Association for the Advancement of Science (AAAS) Human Rights Coalition she defines the human rights agenda for the world’s largest and most prestigious scientific association. Through her leadership of Sociologists Without Borders she promotes an activist “public sociology” agenda internationally. She has published dozens of articles and more than a dozen books, and she has served on numerous professional committees, advisory boards, editorial boards, etc. more »
8/21/2010 – Jeffrey Folks –
Revised numbers from the Labor Department show negative job growth during June 2010. For each job opening, there were five persons looking for work, and 300,000 fewer workers were hired in June than in May. The ride down continues.
Meanwhile, Treasury Secretary Geithner, erstwhile cheerleader for the Obama economic team, announces that unemployment rates could rise “for a couple of months.” “Of course we want to do what we can,” says Geithner, but what we’re doing is just not working. more »
America’s economic situation needs an emergency heart transplant, but Obama and the Democrats keep offering band-aids instead. We need a major change in government economic, tax, and fiscal policies not more government bailouts. Yet the president is doing nothing to reverse the enormous uncertainty fostered by his own administration’s aggressive anti-business and pro high-tax initiatives and rhetoric.
In the latest indication that our president has no clue why businesses are struggling and unwilling to hire, Obama is trying to force through another $30 billion government bailout program to “help banks boost lending to small businesses.” Unfortunately, it’s not the lack of available funds that are stopping businesses from expanding and generating new jobs. It’s the massive economic uncertainty and instability created by misguided government mandates (especially the oppressive regulations of ObamaCare), coupled with the massive tax increases coming in January 2011, that have spooked companies and forced them into defensive economic positions. more »
John Galt is the mysterious hero lurking in the background in Ayn Rand’s infamous novel, Atlas Shrugged. He is the industrialist who went into hiding and led a strike of producers fed up with the physical and moral encroachment from a government of moral supremacists who rationalized theft with childish notions of fairness but no conception of the actual production of wealth. That synopsis should also explain why Atlas Shrugged, first published in 1957, is having a very strong resurgence in popularity.
I meet with two different groups of independent business owners focused in the southeast and their perception of current business conditions is almost unanimous. They are angry. They face conflicting and unclear regulations, and a near certainty of increasing taxes . They are impatient. Many are not profitable and are unable and unwilling to tolerate customers who cannot pay, employees who do not think, banks without judgment, and a government that despises their efforts to create wealth and jobs. more »
From the archived pages of Imprimis, the monthly speech digest of Hillsdale College, President Ronald Reagan reminds us that economic freedom is an absolute necessity not only for political freedom, but for all freedom. That freedom must be fought for and protected in every generation. That the business community must join this fight and not remain passive.
“It all comes down to this basic premise: if you lose your economic freedom, you lose your political freedom and in fact all freedom. Freedom is something that cannot be passed on genetically. It is never more than one generation away from extinction. Every generation has to learn how to protect and defend it. Once freedom is gone, it’s gone for a long, long time. Already, too many of us, particularly those in business and industry, have chosen to switch rather than fight.”
President Reagan clearly understood that government action is the biggest threat to our economic freedom and personal freedom. He correctly identified the government as the problem, not the solution: more »
In what can only be described as a partisan, pro-Obama puff piece, The New York Times has now proclaimed on its Economix Blog that tax increases are the best way to “stimulate” our economy and help America reach “fiscal sustainability”:
The single biggest step our government could take this year to address the structural deficit would be to let the tax cuts expire. And a credible commitment to long-term fiscal sustainability should reduce interest rates today, helping to stimulate the economy.
A rising number of supports champion inflation as a salvation strategy. Richard Russell in a recent newsletter provides the rationale (emboldening by Mr. Russell):
In my opinion, the US MUST default on its debt. There are two ways to default. One is simply to renege on the debt … The other way to default on the debt is to inflate it away. I’m absolutely convinced that this is the path that the US will take. If the US inflates enough, then over time (many years) the devalued dollar will tend of reduce the power of the debts.
8/1/2010 – Jon N. Hall –
Certain ideas get so firmly fixed in some folks’ brains that no amount of evidence can dislodge them. Such ideas become articles of faith. And one article of faith that is particularly deeply stuck in the minds of “the faithful” is that Reaganomics doesn’t work.
The big idea behind Reaganomics is that cutting tax rates boosts the economy, which results in more tax revenue. The history of the last three decades bears this out. more »
7/25/2010 – Al Boese –
Our poverty and debt burden is wearing us down, our confidence is waning and we see no path out of the morass. Individuals and businesses are faced with unprecedented uncertainty. We are the deer in the headlights; just standing there, stationary and static in our behavior. As we survey the landscape, we view crumbling infrastructure, businesses are choosing not to invest in growth, sitting on $1.8 trillion of cash, some of our neighbors’ houses are either foreclosed or in a short sale because they are under- or completely unemployed, or recklessly indebted. Small businesses are not able to obtain or maintain working capital credit lines and they are uncertain of the next regulatory volley from the government, so they refuse to hire or grow. Furthermore the elephant in the room, porous borders and illegal immigrants, are scandalously and recklessly ignored or politicized. more »
7/21/2010 – Dan Gorski –
The Department of Defense has sounded an alarm about our access to a strategically vital group of metals called the rare earth elements. A report on the problem prepared by the GAO is not pretty. It concludes that the Chinese now control the production, processing, and manufacture of final products of these vital metals and now own the patents for many of these processes. more »
Obama’s poorly coded message to investors is to take your money out of America and keep it out. Whether through excessive taxation, suffocating over-regulation, or thuggish confiscation, the lesson to be drawn by anyone with excess capital is to look for friendlier places to put it to work.
The list of friendlier places excludes North Korea, Venezuela, and Iran for the time being, but almost everywhere else qualifies. Russia’s president spent several days in Silicon Valley recently looking for adventurous investors and came away with a $1B commitment from Cisco Systems. For Cisco, sitting on a cash hoard of $30B, with years of experience partnering with the burgeoning Russian venture capital industry, the decision was probably not a very tortured one. And what a perfect opportunity for Cisco’s CEO John Chambers to keep his cash as far from Obama’s collection agencies as possible. more »
6/16/2010 – Alan Caruba –
President Obama knows how to deliver an address. What he doesn’t know or doesn’t care about is the difference between the truth and a lie. His fifteen-minute address was the piling on of one lie after another regarding America’s use of energy and its needs for the future. […]
We are no more addicted to oil than we are addicted to oxygen. This extraordinary mineral is a part of every aspect of our lives; used to create plastic, used in pharmaceuticals, used for the asphalt that pave our highways, and used as the fuel for our cars, trucks, and for countless other applications. more »