Tuesday, November 21, 2017

Thanksgiving: Celebrating the Birth of American Free Enterprise

Richard Ebeling emails:

Dear Bob,

My latest article on the website of the Future of Freedom Foundation is on, “Thanksgiving: Celebrating the Birth of American Free Enterprise.”

Thanksgiving is a time when family and friends gather together for a festive meal and celebration for all we might be thankful for. What is overlook and most often misunderstood is why American’s celebrate Thanksgiving.

Yes, the Puritans settled in what is now known as

Monday, November 20, 2017

DOJ Will Sue to Block AT&T from Buying Time Warner

This is what fascism is all about, government control of private sector business.

The U.S. Department of Justice is suing to prevent AT&T from completing its proposed $85 billion takeover of Time Warner.

"Our investigation showed this is

The Messiness Behind Why Treasury Secretary Mnuchin Printed His Name for Federal Reserve Notes

For those of you dying to know why Treasury Secretary Steve Mnuchin printed his name in block letters, instead of signing in cursive, I contacted the Treasury Department for an explanation.

This is the response from Principal Deputy Assistant Treasury Secretary for Public Affairs Molly Millerwise Meiners:

Mexico Horrified By U.S. Nafta Car Negotiations

Here's the latest on the asinine anti-free trade negotiation position of the Trump administration.

The Mexican government views the U.S. proposal for tightening content rules for car manufacturing under Nafta as not viable and likely to cause serious damage to the North American auto industry, said a person familiar with the nation’s stance, reports Bloomberg.

Mexico hasn’t

All Praise Janet Yellen: House in Silicon Valley Sold for Nearly $800,000 Over Asking Price

In September, a  three-bedroom, two-bath ranch located in Silicon Valley was listed for $1.68 million and sold, in a bidding war, for $2.47 million.

The house in Sunnyvale, California ( not far from the headquarters of Google, Apple and Facebook) was built in 1963 and was originally purchased for

How to Cut Taxes For Small Businesses and Entrepreneurs!!

Vince Kolber, chairman of Residco, a transportation equipment leasing company  (and, take note Donald Trump, a Wharton School grad), writes in an op-ed for The Wall Street Journal:
Those who make the bulk of their annual income from investments have for years paid a 20% tax rate on so-called carried interest. Congress has allowed these equity-fund managers to treat their profit-sharing and service fees as capital gains rather than as ordinary income, for which the top tax rate is 39.6%. Most American entrepreneurs who own and operate small business in the nonfinancial economy pay at the higher rate...

I Was An Aide to Barney Frank and Helped Him Create a Regulatory Monster

By Dennis Shaul

Richard Cordray’s resignation as director of the Consumer Financial Protection Bureau provides a great opportunity for President Trump to appoint a new director who can undo an unfortunate legacy of bureaucratic overreach and political bias. More important going forward is what we have learned from our experience with the CFPB to prevent future similar missteps.
The first lesson is that Congress should never again create an “independent” agency with a sole director, particularly one not subject to the congressional appropriations process. Under the law, the CFPB—unlike the Securities and Exchange Commission, the Federal Communications Commission, the Federal Trade Commission and other independent agencies—is funded by the Federal Reserve, a move specifically designed to avoid congressional oversight.
I had the

Sunday, November 19, 2017

Former Treasury Secretary Jack Lew Takes a Job on Wall Street

Imagine my surprise.

Jack Lew, the former US Treasury Secretary under President Obama, is taking a job at

Another Hidden Tax in Tax Reform: It Will Cost Individual Investors But Not Investment Firms

The Senate Finance Committee has decided that a little-known provision that would change tax rules on certain securities sales shouldn’t apply to mutual-fund firms. Even so, it would still apply to individual investors, reports The Wall Street Journal.

The provision would prevent investors from

Former Treasury Robert Rubin Explains Why the Current Tax Reform Plan Won't Create Economic Growth

Robert Rubin, co-chairman emeritus of the Council on Foreign Relations and U.S. Treasury Secretary from 1995 to 1999, in a Washington Post op-ed is one of the few making the same point I have been making that the plan by cutting corporate taxes, while not cutting spending, will result in more government spending, thus crowding out private sector borrowing. He writes:

Saturday, November 18, 2017

Rapper Biz Markie is a Hardcore Gold Bug

I am not exactly sure who Biz Markie is. I don't listen to a lot of music, but James Altucher seems to think he is big, good for Biz.

Altucher interviewed him and this is part of the exchange that went down as told by Altucher:
 I was interviewing rap LEGEND Biz Markie, my hero. And I