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Archive for the ‘Economy’ Category

Tim Kaine:  economic illiterate 

24 Jul

Tim Kaine reveals he is another economic illiterate in the US Senate who may be the next vice president of the Untied States.  His statement  that the federal government “creates” jobs is absolute nonsense.  He also states: “We will make college debt free for everybody. We’ll rewrite the rules so companies share profits with workers rather than ship jobs overseas.”  In other words, more entitlements and more economic fascism.  He also wants, “paid family leave, equal pay for women and raising the minimum wage to a living wage ‘to keep families together and to bring them out of the shadows.’ ”  He and Hillary are economic authoritarians.  

“Presumptive Democratic nominee Hillary Clinton, while introducing running mate Tim Kaine in Florida, slammed Donald Trump and last week’s Republican National Convention as painting a dismal picture of America’s future.”

Source: Clinton Promises With Kaine: We Will Make the Future Better

 
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Posted in Crony capitalism, Democrats, Economy, Federal Government, Hillary Clinton, Minimum wage, Regulations, Socialism, Welfare state

 

The Clintons checked all the boxes to pick Kaine as their VP

23 Jul

The Clintons are savvy political operators.  They checked the following “boxes” and Kaine became Hillary’s running mate.  To see where Sen. Kaine stands on the issues, visit http://www.kaine.senate.gov/issues.

  • White
  • Male
  • Catholic
  • Spanish speaker
  • Popular Senator of important electoral state
  • Pro Second Amendment favoring “commons sense” gun restrictions
  • Pro life but votes pro choice
  • Unequivocal supporter of welfare state
  • Supports managed trade deals
  • Perennially insider—council member, mayor, lieutenant governor, governor and senator
  • Pro military intervention as long as Congress is consulted and approves
  • Will not upstage Hillary and will be an obedient second banana

“Hillary Clinton chose her running partner Friday evening.”

Source: Hillary Clinton chooses Sen. Tim Kaine as her running mate

 

More evidence of another bubble

22 Jul

“Rising asset prices stoke worries about bubbles forming.”

Source: Ex-Fed Official, Worried About Bubbles, Warns of U.S. Downturn – Bloomberg

 
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Posted in Business cycle, Economy, Interest rates, Money

 

Excellent roundup of what happened in Cleveland

22 Jul

The Trumps are left leaning middle-of-the roaders.  One of Trump’s ideas that is resonating with some libertarians is his skepticism of foreign intervention.

Source: Target Liberty: Crazed Neocons Aren’t Always Wrong….

 
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Posted in Constitution, Crony capitalism, Donald Trump, Economy, Foreign policy, Political parties, Politicians, Politics, Regulations, Republicans, Warfare state, Welfare state

 

San Francisco Review of Books: Socialism Destroyed

22 Jul

Robert Wenzel reviews Tom DiLorenzo’s new book.

Source: San Francisco Review of Books: Socialism Destroyed

 

What Donald Trump should have said last night

22 Jul

Donald Trump’s acceptance speech at the Republican convention last night could have been a lot shorter and focused on espousing the virtues of limited government and free enterprise.

First, Donald should have used several props, such as the first 1040 form, which was only four pages long. He should have said that a tax return of 1914 was simple and allowed the federal government to raise the funds it needed to pay for its expenses 100 years ago, when only 2% of the American people had to pay any income tax. In addition, today large and medium-sized businesses need an army of accountants and attorneys to comply with the tax code. That’s money that cannot be used to buy better equipment, modernize their factories, and thus make American workers more productive, which would earn them higher salaries.

Read the rest of this entry »

 

Trump needs a basic lesson in Economics

21 Jul

Source: EconomicPolicyJournal.com: Trump Embarrasses Himself Again on Trade Deficit Talk

 
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Posted in Crony capitalism, Donald Trump, Economy, Foreign policy, Free markets, Politicians, Politics, Presidential campaign, Republicans

 

Help the Poor by Abolishing the Income Tax – The Future of Freedom Foundation

21 Jul

The income tax must be abolished to create sustainable prosperity.  

“The standard leftist position on helping the poor is: Increase income taxes on the rich and give the money to the poor in the form of welfare. The idea is that it’s just not fair that someone has more money when someone has less money. By equalizing people’s financial conditions, through the force of a progressive income tax and a welfare state, the financial plight of the poor will be improved. The left, however, is wrong. As our American ancestors, Continue Reading…”

Source: Help the Poor by Abolishing the Income Tax – The Future of Freedom Foundation

 
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Posted in Crony capitalism, Economy, Employment, Federal Government, Free markets, Income taxes, Politicians, Politics, Poverty, Spending, Taxes, Welfare state

 

C.E.O.s Meet in Secret Over the Sorry State of Public Companies

21 Jul

Regulations and easy money are having adverse consequences on corporate governance. Wall Street has turned into a big casino.

 

“In a series of meetings, titans of business and finance grappled with what they see as a problem of too much money going and staying private.”

Source: C.E.O.s Meet in Secret Over the Sorry State of Public Companies

 
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Posted in Business cycle, Economy, Free markets, Leadership, Politics, Regulations, Stock market

 

You can just call me Jeff

20 Jul

Tom DiLorenzo sent me a copy of his new book, The Problem With Socialism, with the following inscription.  You can hear Tom Woods interview Tom here.  This book should be a best seller based on my review of the contents.   I will read it ASAP and discuss it in a future post. 

Tom's kind words

 

An insider warns about excessive debt

20 Jul

“John Mauldin, Financial Expert, Best-Selling Author, and Editor of Thoughts from the Frontline Investment Newsletter. Offering Financial & Economic Analysis, Research.”

Source: MauldinEconomics.com

 
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Posted in Banks, Crony capitalism, Debt, Economy, Federal Reserve, Interest rates, Money

 

Contrary indicator?  When the “crowd” goes one way, the oppostie usually happens

20 Jul

With so much pessimism and concern for financial safety, the public may be signalling that the stock market will continue to rise.  

“When it comes to long-term investing, more Americans prefer real estate or cash to stocks and bonds, according to a report by Bankrate.com.”

Source: More Americans prefer cash or real estate to stocks

 
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Posted in Economy, Money, Stock market

 

A gloomy assessment of the future

20 Jul

“Six Major Events That Will Change History By Egon von Greyerz   Investors globally have never faced risk of the magnitude that the we are now exposed to. But sadly very few are aware of the un…”

Source: Six Major Events That Will Change History | GoldSwitzerland

 
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Posted in Business cycle, Central banks, Crony capitalism, Debt, Economy, Federal Reserve, Inflation, Money, Politics

 

Field trip with my colleagues to the Museum of American Finance

19 Jul

I spent this morning with three of my colleagues visiting the American Museum of Finance on Wall Street, down the street from the NYSE, the Trump building and a couple of blocks form the New York Fed.  Last week I joined the AMOF and will organize a trip in September for my Financial History of the US course.  I urge you to join at www.moaf.org

Below are some pictures I took inside the museum.  If you will be visiting NYC, I highly recommend spending some time viewing the exhibits, which show how American finance was instrumental in creating our prosperity.

 

Bull and bear tug of war

Evolution of paper money

Evolution of paper money

Gold, real money

Gold, real money

Statue of Hamilton next to a room housing a collection of his works

 
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Posted in Banks, Central banks, Crony capitalism, Economy, Federal Reserve, Gold standard, Government debt, Money, Politics, U.S. Dollar

 

Ron Paul explains why Fed-exit would end the manipulation of the economy

18 Jul

Source: Don’t Reform the Fed, Fed-Exit!

 
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Posted in Central banks, Crony capitalism, Economy, Federal Reserve, Inflation, Interest rates