Thursday, November 15, 2018

A Great Explanation on Why Trade is Good

Catherine Rampell

The below clip, by Catherine Rampell of the Washington Post, is an excellent explainer on why trade is good and trade deficits don't matter.

It correctly labels President Trump as a 17th-century mercantilism.

Mercantilism should have died with wooden teeth.

Sorry, Stiglitz: It’s Socialism That’s Rigged — not Capitalism

Joseph Stiglitz
By William L. Anderson

Ever since winning the Nobel Memorial Prize in “Economic Science” in 2001, Joseph Stiglitz has been a one-man advocacy band for growth of the state.

Krugman Launches Masterclass

Now, this is an interesting coincidence.

Paul Krugman is launching a Masterclass.

Federal Reserve Chairman Powell Responds to Attacks From Trump

The money printer has spoken.

Federal Reserve Bank Chairman Jerome Powell addressed President Trump's repeated attacks on the central bank on Wednesday, though not directly, when Dallas Federal Reserve President Robert Kaplan asked him about criticism from "political leaders":

A Double Blow From Trump's Economic Nationalist Policies

President Trump simply doesn't get that the central planning of parts of the economy to help steelworkers is a negative for the entire economy.

He tweets:

Wednesday, November 14, 2018

Bitcoin Breaks Below $6,000

Bitcoin has broken below the $6,000 price level to $5,500.

It is down over 12% in the last 24 hours.

Scientist Finds Major Mathematical Error in New Climate "Warming" Paper

In a paper published just two weeks ago, on Oct. 31, in the well-respected journal Nature, researchers reported finding that ocean temperatures had warmed 60 percent more than outlined by the United Nation’s Intergovernmental Panel on Climate Change.

IT'S BAD: US Budget Deficit 60% Higher Than Last Year

The U.S. recorded a $100.5 billion budget deficit in October, an increase of about 60 percent from a year earlier.

According to Bloomberg, the deficit widened from $63.2 billion in the same month last year.

The Big Factor:

A Trump-Pelosi Budget Deal is a Recipe for the Worst Kind of Tax Increase

By Daniel J. Mitchell

The most disturbing outcome of the recent mid-term election isn’t that Alexandria Ocasio-Cortez will be a Member of Congress. I actually look forward to that because of the humor value.

Tuesday, November 13, 2018

The Crony Part of Amazon's Deal With New York State and New York City Officials

Ok, here is the down and dirty of what Amazon squeezed out of New York State and New York City officials as part of their move to Long Island City in the New York City borough of Queens:

Alexandria Ocasio-Cortez‏ Launches Her First Post-Election Hate Campaign

Word is out that Amazon has chosen Long Island City as one of two locations for its new second headquarters.

Thank You, Federal Reserve: Golden State Warriors' Newest Ticket Deal: $100 Monthly Pass — But No View of the Court

New plan, watch the game o television from the bars in the corridors of the arena.
This what happens when a city has a winning team and a Fed money spigot sits right underneath the region pumping out oodles of funny money.

Two Senators Blast Trump for Criticizing Fed

Coons and Flake monetary policy lightweights
In a letter to President, Trump, Sens. Chris Coons (D., Del.) and Jeff Flake (R., Ariz.) called on the president to stop publicly criticizing the Federal Reserve and warned his comments could jeopardize the central bank’s credibility and hurt the economy, reports the Wall Street Journal.

Monday, November 12, 2018

Potted Plants and the New York Federal Reserve Bureaucracy

From Paul Volcker's new book, Keeping At It: The Quest for Sound Money and Good Government:

SHOTS FIRED: Taki Takes Aim at Paul Krugman

Paul Krugman
This is an interesting attack, to say the least, by Taki on Nobel Prize-winning economist Paul Krugman:

Be Very Suspicious of Tucker Carlson

Tucker Carlson, what's his problem with basic economics?

When it comes to a non-interventionist foreign policy and dissing political correctness, Tucker Carlson is very good. But when it comes to economics, his foundation appears weak and he appears to be very weak and has attacked some of the greatest corporations and individuals who have made life better for all of us across the United States.

Sunday, November 11, 2018

Alexandria Ocasio-Cortez as a Hardcore Marxist

Alexandria Ocasio-Cortez
By Robert Wenzel

Forget about Democratic Socialism and that confused and mushy movement.