Ignorant Media
John Stossel
Every day I see things that are wrong or that so miss the point I want to scream.
Four examples:
Storm Coverage
As this week's storm approached the East Coast, the media reverted to breathless hype: "monster storm ... very dangerous." Here I blame my beloved free market: Predicting scary weather works. Viewers tune in.
What galls me more is the reporters' government-centric thinking. "Everything is closed," they say. "Employees can't get to work."
But the corner grocery stayed open. So did many gas stations and restaurants.
Free Market Care
John Stossel
Trump then tweeted, "ObamaCare will explode and we will all get together and piece together a great healthcare plan for THE PEOPLE. Do not worry!"
But I do worry.
Trump is right when he says that Obamacare will explode.
The law mandates benefits and offers subsidies to more people. Insurers must cover things like:
--Birth control.
--Alcohol counseling.
--Depression screening.
--Diet counseling.
--Tobacco use screening.
--Breastfeeding counseling.
Some people want those things, but mandating them for everyone drives up costs. It was folly to pretend it wouldn't.
The Dangers of the ‘America First’ Doctrine
Mark Skousen
Last week before his “state of the union” address to Congress,
President Trump visited with executives from the Harley-Davidson
motorcycle company who admitted they were outsourcing their technology
abroad. Harley-Davidson cycles are often subject to large tariffs when
they are produced in foreign countries, sometimes as high as 100%
because of competition with other manufacturers.Nevertheless, the stock has been doing well since the financial crisis of 2008. After mentioning his discussion with the executives on overseas taxes, Trump commented, “They weren’t even asking for change… But I am.”
Trump’s idea of “change” is to impose heavy duties on foreign products coming into the United States. A smarter solution, in my opinion, would be to threaten foreign countries with retaliatory duties unless they reduce the costs of the tariffs they charge.
How George Soros Lost $1 Billion
How George Soros Lost $1 Billion
In the weeks and days preceding November 9, 2016, the day the next president of the United States was elected, markets had been trading in a very cautious pattern.
A close election race combined with a turbulent year for both domestic and foreign stock markets made the election a pivotal time for several major investors who sought to profit handsomely if the election broke a certain way. Many financial gurus and political pundits believed the markets would rise if Hillary Clinton, the candidate representing “more of the same” and a “continuation” of Obama’s policies, won.
How I Made the Forbes Billionaire Issue!
Mark Skousen
First, I want to make a confession: I indeed may qualify to be in the top 1% of American income earners, but my net worth is modest by billionaire standards. I probably could be much wealthier if I stopped teaching and writing books, and devoted more time to business and money-making. But my interests are much broader than purely materialistic goals.
As Ben Franklin wrote near the end of his life: “The years roll round and the last will come; when I would rather have it said, He lived usefully, than, he died rich.”
My goals are to have a good relationship with my wife and family, my friends and colleagues. I like to write about investments and attend conferences to help people become better investors. I like to teach college students about sound economics and influence them to make good decisions in their lives. I believe in charitable work. And last but not least, I want to devote time and effort to keep my country free and to make a contribution to the freedom movement.
I believe that money opens the doors to many opportunities, and gives me the free time to accomplish my non-material goals. We have a fascination with the 2,043 billionaires on this Earth, as recorded in the latest issue of Forbes. I’ve personally met with a dozen or more billionaires, including Bill Gates (see my photo with him below), Warren Buffett and Charles Koch.
Global shares tumble on jitters over Trump reform agenda
AP News
KEEPING SCORE: Britain's FTSE 100 slid 0.9 percent to 7,309.15. France's CAC 40 dropped 0.8 percent to 4,964.41 and Germany's DAX fell 0.7 percent to 11,880.78. Auguring a downbeat start for Wall Street, S&P futures fell 0.2 percent while Dow futures also lost 0.3 percent.
ASIA'S DAY: Japan's Nikkei 225 stock index fell 2.1 percent to close at 19,041.38 and Hong Kong's Hang Seng index dropped 1.1 percent to 24,320.41. Australia's S&P ASX 200 lost 1.6 percent to 5,684.50. South Korea's Kospi lost 0.5 percent to 2,168.30 and the Shanghai Composite index fell 0.5 percent to 3,245.22.
Winning and Losing Streaks in the DJIA In the Age of Trump
Political Calculations
By contrast, there have been 43 losing streaks where the DJIA closed lower than it's previous day's closing value on 43 separate occasions since 2 May 1885, where the current losing streak through yesterday, 27 March 2017 may not yet be over.
Should the current losing streak extend a ninth day, it will mark just the twelfth time in the last 132 years where the Dow has dipped for that many days in a row.
"Tolerant Liberal" Lists 28 Reasons to Hate Conservatives
For both your enjoyment (and because writing is more therapeutic for me than grinding a cheese grater against my forehead) I have provided her gleefully bigoted list below, with a few interjections of my own:
(Tiffany’s words are in italics… The rest is me. Enjoy.)
Here is why I have to abandon attempts at intelligent conversation with most of you.
Um… Because you’re incapable? (Sorry… But you kinda softballed that one in there.)The Next Recession Looms Large
Gold vs. Paper: The Only Debate That Matters
Peter Schiff
While a record audience watched the first presidential debate
between Hillary Clinton and Donald Trump, the sad truth is that the
candidates differ very little on the issues that matter most. As
president, both Clinton and Trump are likely to drive
the country deeper into debt, expand government power, and further
curtail individual liberty and economic freedom. Though we can vote
against the candidate we feel will accelerate this trend, our votes may
do nothing to change the direction we are headed.
Midnight in America
Stunned political analysts are missing the most plausible argument
explaining Donald Trump's unexpected victory. The misreading of the
American electorate stems from the political class’ acceptance of
mistaken (and increasingly insane) economic dogma that has arisen over
the past generation. Based on their flawed understanding of
economics, the pundits could simply not understand why the electorate
had become totally disillusioned.
According to the ideas favored by economists on Wall Street, in
government, and in the Federal Reserve, Americans should be enjoying a
marginally good economy. Unemployment is low, home values and the stock
markets are high, credit is cheap and plentiful, prices are stable, auto
sales are robust, healthcare is available to all, and GDP is growing,
albeit at levels that are below optimal. These are conditions that would
normally favor the incumbent party, and would discourage voters from
taking a chance on an unknown who has promised to tear down the entire
system. But that is precisely what happened. There can only be two
explanations: Either Trump supporters were motivated by hatred strong
enough to cause them to vote against their own economic interests, or
they understood the economic reality better than the Ph.D.'s. I believe
the people got it right.
Trump Deficits Will Be Huge
There is much we don’t know about how the Trump presidency will
play out. Will the Wall get built? Who will pay for it? Will it have at
least some fencing? Will repeal and replace happen at exactly the same
time? Will Trump throw a ceremonial switch? Will there be a Trump
National Golf Course in Sochi? It’s anyone’s guess. But of one thing we
can be fairly certain. President Trump is very likely to preside over
the largest expansion of Federal budget deficits in our history. Trump
has built his companies with debt and I’m sure he thinks he can do the
same with the country. His annual budget deficits are likely going to be
huge. This development will make a greater impact on the investment
landscape than most on Wall Street can imagine.
US Fed official favors 4 interest rate hikes this year
US Fed official favors 4 interest rate hikes this year
AFP/File / BRENDAN SMIALOWSKI
Boston Federal Reserve
Bank President Eric Rosengren stressed that "it is important to avoid
creating an over-hot economy that could require a more rapid tightening
of monetary policy"
Boston Federal Reserve Bank President Eric Rosengren, previously known for supporting the Fed's ultra-accommodative policy, seems to have had a drastic change of opinion, and now is concerned about preventing the economy from overheating.
The Fed already raised interest rates by a quarter of a percentage point in March -- following a similar move in December -- and policymakers on the Fed's Federal Open Market Committee (FOMC) project two more increases in the benchmark federal funds rate over the next six meetings in 2017.
No turning back: Britain launches EU exit process
No turning back: Britain launches EU exit process
AFP/File / Daniel LEAL-OLIVAS
Britain voted to leave the European Union in a referendum in June 2016
Nine months after the stunning vote for Brexit, Prime Minister Theresa May gave EU President Donald Tusk formal notification of Britain's intention to withdraw from the 28-nation bloc.
The unprecedented move, just days after the EU celebrated its 60th birthday, leaves Britain deeply divided and has thrown a question mark over the future of the alliance.
British ambassador Tim Barrow delivered the letter to Tusk triggering Article 50 of the EU's Lisbon Treaty, starting the two-year countdown to Brexit.
Mexican president says seeking 'new relationship' with US
Mexican president says seeking 'new relationship' with US
AFP/File / EZEQUIEL BECERRA
Mexican President Enrique
Pena Nieto told a summit in San Jose he would keep the countries
represented informed of aspects of its talks with the US that would
affect them
His comments were made at a one-day summit in Costa Rica's capital San Jose that gathered leaders from Mexico, Central America and Colombia.
US President Donald Trump, who took office in late January, has vowed to renegotiate the North American Free Trade Agreement (NAFTA) between the United States, Mexico and Canada.
How to Reorganize the Government Without Congress
How to Reorganize the Government Without Congress
As well as releasing his budget, President
Trump recently signed an executive order to make the executive branch
more efficient. In signing the order, he said “Today there is
duplication and redundancy everywhere. Billions and billions of dollars
are being wasted.”So far the budget has overshadowed the executive order. But the two work together. The reorganization plan complements the budget by enabling the administration to reduce waste without waiting for Congress.
Leveling the International Corporate Tax Playing Field
Leveling the International Corporate Tax Playing Field
Tax reform is getting well-deserved attention
in Congress because of its importance to stronger economic growth.
Corporate tax reform is seen as an essential component to reforming the
tax code if stronger economic growth is going to be achieved and
maintained.It has been over 30 years since the last major tax reform and the world has changed greatly over that time. The economy has become truly global and our economic success is directly related to our ability to compete on an international basis. The House Ways and Means Committee has produced a plan—A Better Way—that would make a strong contribution to the success of U.S. companies in the global market.
Want to Help Women? Lower Marginal Tax Rates
Diana Furchtgott-Roth
This year April 17 is Tax Day. Those who pay
little tax count themselves as lucky winners. Some of the biggest
losers will be married, working women, who are being discouraged from
working by high rates of tax.Higher marginal tax rates discourage married women from working. When single women work and are considering marriage, higher rates discourage marriage. Sometimes high tax rates result in women quitting the workforce altogether.
How to Reorganize the Government Without Congress
Charles Hughes
As well as releasing his budget, President
Trump recently signed an executive order to make the executive branch
more efficient. In signing the order, he said “Today there is
duplication and redundancy everywhere. Billions and billions of dollars
are being wasted.”So far the budget has overshadowed the executive order. But the two work together. The reorganization plan complements the budget by enabling the administration to reduce waste without waiting for Congress.
How to Reorganize the Government Without Congress
Charles Hughes
As well as releasing his budget, President
Trump recently signed an executive order to make the executive branch
more efficient. In signing the order, he said “Today there is
duplication and redundancy everywhere. Billions and billions of dollars
are being wasted.”So far the budget has overshadowed the executive order. But the two work together. The reorganization plan complements the budget by enabling the administration to reduce waste without waiting for Congress.
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