Monday, July 22, 2019

Tulsi Gabbard Co-Sponsors Audit the Fed Bill

Tuilsi Gabbard
Representative Tom Massie during an interview in Las Vegas with Luke Rudkowski told him that Democratic presidential candidate Tulsi Gabbard has signed on as a co-sponsor of the Audit the Fed bill, officially known as H.R.24 The Federal Reserve Transparency Act of 2019.

While I am sympathetic to the underlying effort of Massie and Gabbard to expose the Federal Reserve with this bill, I personally see it as strategically dangerous.

CNN Goes Hardcore Promotion of Socialism; The Right Goes Anti-Free Market


By Robert Wenzel

It has finally happened, CNN this Sunday promoted all-out socialism, the US-based socialist magazine, Jacobin, and its founder Bhaskar Sunkara.

CNN's Brian Stetler on his show, "Reliable Sources," under the guise of examining the frequent (correct) Fox News claims that the Democratic Party was socialist-leaning, brought Sunkara on the show.

But instead of proving Fox News wrong, that the Democratic Party is socialist-leaning, Stetler spent most of the segment getting Sunkara to state that there was nothing wrong with the socialist-leaning programs advocated by the Democrats such as universal healthcare, government-financed education, government-financed childcare, and government-subsidized housing.

Sunday, July 21, 2019

Rent Control in New York City: The Coprolite Hits the Fan

Stuyvesant Town
The below report reminds me of a friend who had moved to rent-controlled Boston from no rent-control Dallas.

After leasing an apartment on Commonwealth Avenue in the city and with keys in hand she was ready to move in but called the landlord first and asked, "When are you going to put a fresh coat of paint on the walls?"

She quickly learned that what always occurred before moving into an apartment in Dallas never happened under rent-control in Boston.

The David Stockman Warning: 'We're Going to Have 80 Million People Retire Within a Decade'

This is David Stockman at his best, explaining how  and why things are going to get very bad:






-RW

Saturday, July 20, 2019

Does Alexandria Ocasio-Cortez Even Know What Socialism Is?


On Twitter, Alexandria Ocasio-Cortez (now with nearly 5 million followers) has this pinned to the top of her page:

Friday, July 19, 2019

House Passes Bill That Would Create More Unemployed Black Teenagers

UPDATE BELOW: Thomas Sowell on black teenagers and the minimum wage.

The House passed a bill today to hike the federal minimum wage to $15 per hour.

The Democratic-controlled House passed the plan in a 231-199 vote. Six Democrats opposed it, while three Republicans supported it.

The measure would gradually hike the U.S. pay floor to $15 by 2025, then index further hikes to median wage growth.

BREAKING: Seizure of British Tanker by Iran




This is a developing story. Return to this post for updates.

UPDATE 1

Filed For Future Reference

-RW

Bernie Sanders: Minimum Wage Hypocrite

Bernie Sanders
Wherein Bernie discovers the concept of anti-central planning competitive market wage rates.

The Washington Post's Matea Gold reports:
"For years, Bernie Sanders has traveled the country advocating for a $15 per hour minimum wage. His campaign organizers say they aren’t making that much, and they're using his words to protest for higher wages."
Bernie is apparently, lol, justifying the below $15 per hour rate that he is paying by stating he is meeting market competition.

From the Post:

Are the Boeing 737 Max Crashes a Case of Market Failure?

Boeing Max 737
Kevin emails:
Hi Bob,

Regarding the Boeing 737 Max crashes, if I have my facts correct, there were 2 crashes (one in October 2018 that killed 189 people in Indonesia and another in March 2019 that killed 157 people in Ethiopia) that killed 346 people in total before the plane was officially grounded.  According to the article below, "Boeing cut corners to save money".  

My question is, wouldn't "free market capitalism theory" (not sure what the correct terminology is) tell us that Boeing wouldn't want to risk its reputation (as it would affect the company's bottom line) and, therefore, would only produce products that it believed were safe to its customers?

Thursday, July 18, 2019

RAND PAUL IS HOT: Blasts Jon Stewart; "Really Isn't Using His Brain"

Senator Rand Paul
I have never seen Rand Paul so hot.

He is boiling.

In an interview this afternoon on Fox News’ Your World with Neil Cavuto, Rand blasted the dishonest claims being made regarding his efforts to have a debate in Congress over spending and paying for legislation.

Rand specifically called out Jon Stewart:

Iran Says It Has Seized Foreign Oil Tanker in Persian Gulf



Iranian state TV says Revolutionary Guards forces have seized a foreign tanker with 12 crew accused of smuggling oil.

Thursday’s report says the tanker was taking fuel from Iranian smugglers to foreign customers and was intercepted south of Iran’s Larak Island in the Strait of Hormuz.

This is a developing story. Return to this post for updates.


UPDATE 1

NYC Apartment Building Sales Crashing Because of New Anti-Free Market Rent Regulations

The 1970s Bronx
Are we about to see a recurrence of crushing rent regulations that once resulted in the abandonment of many multi-family apartment buildings in parts of New York City and the collapse in the upkeep of most other New York City multi-family rental apartments in the 1970s and early 1980s?

Wednesday, July 17, 2019

Has Treasury Secretary Mnuchin Formed a Working Group To Takedown Bitcoin and Other Cryptocurrencies?

Treasury Secretary Mnuchin
UPDATE BELOW: Attacks escalate

By Robert Wenzel

US Treasury Secretary Steve Munchin held a press conference at the White House on Monday to discuss cryptocurrencies.

It was not a press conference designed to comfort those using any cryptocurrencies in a manner that hides user identities.

"We will not allow digital asset service providers to operate in the shadows," he said.

Mnuchin stated that billions of dollars worth of bitcoin are being used in illicit ways. He specifically cited:

Alexandria Ocasio-Cortez Becomes a Rothbardian For an All Too Brief Minute

Alexandria Ocasio-Cortez
Martin Sandbu at the Financial Times sets the scene:
Incongruous does not even begin to capture the sudden outbreak of harmony between President Donald Trump’s economic policy adviser and a star of the Democratic party’s left wing.

Monday, July 15, 2019

Koch Executive Temporarily Banned From Leaving China

In early June, a Chinese-American executive at Koch Industries was told he could not leave the immediate vicinity of his hotel in southern China, reports The New York Times.

According to The Times,  he was then interrogated for multiple days, with the discussion hitting on the trade war and souring relations between the United States and China.

More:

Paul Krugman's Asinine Take On Supporters of the Gold Standard

Paul Krugman
Paul Krugman has outdone himself.

He specializes in writing columns for The New York Times that don't pass the logic test but his July 13, 2019 column puts him at an entirely new level that makes him appear like the Sentinelese when they fired arrows at a helicopter.

He writes of those supporting the gold standard: