Friday, September 21, 2018

Welcome to Silicon Valley: Drone Startup Burns Through $118 Million, Shuts Down



By Robert Wenzel

There are some very smart people in Silicon Valley venture capital but also a lot of clowns. Think the bell curve.

Airware, a San Francisco-based, startup in the drone sector has shut down after blowing through

This is What Happened When Tariffs Were Imposed in 1930




Dr. Benjamin M. Anderson [chief economist at Chase National Bank 1920-39], wrote in Economics and the Public Welfare: A Financial and Economic History of the United States, 1914-1946 :
[T]here came another folly of government intervention in 1930 transcending all the rest in significance. In a world staggering under a load of international debt which could be

Has the Federal Reserve Joined the Deep State in an Attack Against Trump?


Federal Reserve Bank Chairman Jay Powell

By Robert Wenzel

This is simply stunning.  Federal Reserve Bank Chairman Jay Powell has met or called members of Congress 48 times in his first six months in office, according to a report from Bloomberg News. By contrast, his predecessor, Janet Yellen, who is a shrewd networker, had just

Thursday, September 20, 2018

The Man Who Killed Galloping Price Inflation in the US is Coming Out With a Book


Paul Volcker is publishing his memoir, Keeping At It: The Quest for Sound Money and Good Government

Volcker was Chairman of the Federal Reserve from August 1979 to August 1987.

He single-handedly halted the high levels of price inflation seen in the

Murray Rothbard: Even if we all became New Socialist Men, Socialism would still not work

This is an important point by Murray Rothbard.

Many socialists believe all that is needed is for socialism to thrive is for a "socialist man" to emerge who is willing to work for the greater good, but there is a much bigger problem: the economic calculation problem, that is, central planning is dysfunctional in determining what should be produced even when workers are willing to follow the orders of the central planners.



-RW  

Trump Nominates Another Swamp Creature to the Fed

Nellie Liang
President Donald Trump has announced that he intends to nominate Nellie Liang to an open seat on the Federal Reserve Board.

 Liang is total establishment, spending

Wednesday, September 19, 2018

Warning to 401K Account Holders



By Robert Wenzel

President Trump recently signed an executive order to make it easier for small employers to offer 401(k)s through multiple-employer plans.

But here's the thing.

Why Do So Many Affordable-Housing Advocates Reject the Law of Supply and Demand?



By Roderick M. Hills Jr.

Housing prices are famously out of control in many cities — the average studio apartment in San Francisco goes for nearly $2,500 a month, more than $2,900 in Manhattan. This trend has inspired a movement called “YIMBY,” for “Yes in My Back Yard.”

YIMBYs push for reductions on zoning restrictions to increase the supply of housing, reasoning that

CONFIRMED Trump Wanted to Raise the Top Personal Tax Rate to Over 44%



Here's another serious problem for libertarian Trump fanboys.

Trump's former top economic adviser, Gary Cohn, confirms Bob Woodward reporting that

Why and How We Have Reached Peak Trump


By David Stockman.
The history books will record, ironically, that the Donald peaked in September 2018.
Obviously, that was the 10th anniversary of the Lehman financial meltdown. But the original event and its current commemoration actually book-end why Trump came out of nowhere, sojourned briefly in the Oval Office, and then fell victim to an even greater crisis that will end in

Tuesday, September 18, 2018

What Socialists Alexandria Ocasio-Cortez and Venezuelan President Nicolás Maduro Really Have in Common


While they both talk about equality and a concern for the common man, they both really love the super good life that is unattainable by the common man.

Alexandria Ocasio-Cortez was recently caught wearing a $3,500 outfit for a photo-op with construction workers.

While his people starve,  Venezuelan President Nicolás Maduro was caught on video feasting on

ESCALATION: China Reacts to New US Tariffs

President Trump and Chinese President  Xi Jinping
Beijing has a quick response to new tariffs (SEE: Trump Slams China With Tariffs on Additional $200 Billion Worth of Goods) imposed by President Trump.

It says it will retaliate against Trump, saying the Trump’s decision to

Burns Slays Nancy MacLean’s 'Democracy in Chains'


Jennifer Burns is biting in her review of Democracy in Chains: The Deep History of the Radical Right’s Stealth Plan for America by Nancy MacLean ---and justifiably so.

Snippets:
Unfortunately, MacLean gives almost no attention to the areas in which Buchanan
did have deep inªuence and in which he is widely known: the academic ¥elds of political
science and political theory.

---

What does interest MacLean is an ostensible connection between Buchanan and

Monday, September 17, 2018

DONE: Trump Slams China With Tariffs on Additional $200 Billion Worth of Goods


As expected, President Donald Trump has ordered a new round of tariffs on Chinese goods. This time on $200 billion worth of goods.With the previous  $50 billion worth of tariffs on Chinese good nearly half of Chinese goods imported into the US will now face tariffs.

"For months, we have urged China to change these unfair practices, and give fair and reciprocal treatment to American companies," Trump said in a statement.

"As President, it is my duty to protect the interests of

Republicans’ Responsibility for Socialism’s Comeback



By Ron Paul

According to a recent Reuters/Ipsos survey, 70 percent of Americans, including about 50 percent of Republicans, support Medicare for all, the latest incarnation of single-payer health care. Republican support for a health plan labeled “Medicare for all” is not surprising considering that Republican

NEVER FORGET: The Government Crowds Out Private Sector Transportation



By Chris Edwards


The existence of government infrastructure deters or “crowds out” private investment. Many airports, bridges, and urban transit systems in the United States used to be private, but during the mid-20th century entrepreneurs were squeezed out by governments.
The provision of federal aid or subsidies to government-owned airports, bridges, and transit facilities was a key factor in pushing out private enterprise. That is one reason why I favor repealing federal

What Would Be a Radical But Sound Approach to Handling Puerto Rico’s Huge Debt?

Justin Raimondo writes:
Trump’s unwillingness to bail out investors in stricken Puerto Rico’s huge debt - like Seth Klarman, the latest antiTrump warrior - evokes the radical libertarian call of theorist Murray Rothbard to repudiate government debt as an illegitimate contract



Raimondo continues:
The sudden addition of oligarch Seth Klarman to the visible ranks of the Resistance  … is linked to his ownership of Puerto Rico’s debt

The Intercept reports:
 FOR YEARS, THE identity of the owner of one of the largest holdings of Puerto Rican debts has been a mystery.