Tuesday, October 23, 2018

More Cheap Labor Headed to the United States

A second caravan of South Americans is headed to the United States.

White House Report Warns of Socialist "Comeback"

A pre-election report from the White House Council of Economic Advisers asserts that socialism "is making a comeback in American political discourse," reports Axios.

Imagine my surprise.

Paul Volcker, at 91, Let's It Rip

Paul Volcker is clearly a big government guy and is in despair.

WHAT?!! Mnuchin Meets with Saudi Crown Prince Mohammed bin Salman

U.S. Treasury Secretary Steven Mnuchin met with Saudi Arabia’s Crown Prince Mohammed bin Salman on Monday, according to the Saudi government, reports The Washington Post.

The crony military-industrial-complex deals must go on!

Mnuchin last week announced he was withdrawing from a conference in Saudi Arabia this week, amid the international backlash following the killing of Washington Post contributing columnist Jamal Khashoggi.

Socialists Are Now Pitching Universal Healthcare as a "Jobs Program"

Clueless about the nature of job creation.
Alexandria Ocasio-Cortez tweets:

Monday, October 22, 2018

Starbucks and the Homeless: A Progress Report

I stopped by the downtown Los Angeles Starbucks at 445 South Figueroa after I finished my coverage of the Politicon convention.

The Damnable Cult of the Stock Market and the Istanbul Bonesaw Massacre

By David Stockman

During an appearance on Fox Business yesterday we were asked about the Khashoggi affair and whether any intemperate response by Washington might inconvenience the party kids’ reviling on Wall Street. Perhaps we were having a bad hair day, but the question did trigger a fairly intemperate response on our part.

Sunday, October 21, 2018

A Response to the Charge That I Have My Head Up My Ass

Don Boudreaux
A Don Boudreaux letter to a reader:
Mr. Ernie McDonald
Mr. McDonald:
You write that “our survival as a nation is threatened by never ending floods of cheap imports priced below their full value.” And after asserting that because I’m a tenured “heads up [my] ass” professor I “have no right” to criticize protectionists, you call me “gullible, blind and ignorant about the Real World.”

The Socialists Are Everywhere

Ana Kasparian, Bill Kristol and Dr. Drew Pinsky, they are all a bunch of socialists.
By Robert Wenzel

I am at Politicon Los Angeles 2018, which brings in political speakers from across the political perspective. 

Politicon has indeed done an impressive job of bringing in everyone from Tucker Carlson to Chris Christie to Kathy Griffin. But what strikes me is that the sessions, that could be classified as socialist-leaning, are gaining the largest crowds by far.

Saturday, October 20, 2018

The Man Who Spent the Prime of His Life Manipulating the US Capitalist Economy for the Benefit of Banksters Has Written a Book About Capitalism

Alan Greenspan
By Robert Wenzel

The year 2018 may go down as the year of chutzpah.

There is, of course, this year, Crown Prince Muhammed bin Salman investigating the murder of Jamal Khashoggi which he ordered, but even more remarkable on the chutzpah scale is Alan Greenspan writing a history of capitalism.

A "Stuck in Traffic" Proposal

The curious Andrew Galambos once said that a traffic jam is when the private sector meets government management.

Stockman: ‘Genocidal’ Saudi Arabia Is ‘Our Worst Ally in a Bad Neighborhood’


Friday, October 19, 2018

Mises: Scientist and Fighter

By Israel Kirzner

Mises was a towering figure, representing uncompromising intellectual integrity, the courageous pursuit of ideas regardless of the crop of unpopularity which he well knew he would reap. His scholarship was extraordinary; his wisdom legendary; the profundity of his insights into social processes has probably never been surpassed.

You Want 20% for Handing Me a Muffin? The Awkward Etiquette of iPad Tipping

-RW notes:  #BehavioralEconomics #PayCash #TipWhenYouWant

By Jennifer Levitz

Mina Dimyan frequents a Stamford, Conn., cafe, where he orders a cup of strong coffee for $3. It comes with a splash of guilt.

The clerk swipes Mr. Dimyan’s credit card and then swivels the store’s white iPad around. There is an uncomfortable pause. Prompts on the screen ask the 33-year-old human-resources recruiter to sign his name and pick a tip: 18%, 20%, 25%, a custom amount or “no tip.”

Millennials Dream of Socialism – It Will End a Nightmare

Richard Ebeling emails:

Dear Bob,

I have a new article on the website of “The Epoch Times” newspaper on, “Millennials Dream of Socialism – It Will End a Nightmare.”

Opinion polls highlight that those between the age of 16 and 24 say they have positive views of socialism compared to a market-based economy, with the impression that socialism means caring for others and “free stuff.” Socialism-in-practice, however, has demonstrated that free stuff comes with a very high price of loss of liberty, economic hardship, and the end of untold human lives to build a “people’s paradise.”

Few in this younger generation seem to know or appreciate the history of socialist systems in the 20th century: