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:

Sunday, July 14, 2019

Yemeni Government Warns of a Looming Huge Oil Spill into the Red Sea; Maritime Routes Threatened

Hmm,

For the record.
-RW

Murray Sabrin Banned From Tea Party Group For Bashing Trump's Desire For an Aggressive Money Printing Fed

Murray Sabrin
Murray Sabrin emails:

They can't handle the truth.

After I posted my published letter today on FB the admin for a North Jersey Tea Party group wrote:

"So your article Murray is about 'The Gold Standard' which is fantastic but you could not help yourself from throwing a knife at Trump. I may leave this up for a few mins but eventually today, your gone from this group. You’ve been warned many times about Trump bashing on this page. Go join a democrat page where you’ll find synergy. "
- Admin

See my letter below.  The non-thinking Trumpsters don't get it.  The Fed is goosing the economy, which is what both Democratic and Republican presidents want in an election year.  Trump is god to these people.

Serving Humanity in the Name of Greed

Some excellent observations here by Walter Williams.



-RW

Saturday, July 13, 2019

AOC's Chief-of-Staff Admits That the Green New Deal is Really a Plan to Turn the US Economy Socialist

 Saikat Chakrabarti
By Robert Wenzel

I have already warned about Alexandria Ocasio-Cortez's chief-of-staff, Saikat Chakrabarti (SEE: The Brains Behind Alexandria Ocasio-Cortez).

In February, I wrote about him:
 He graduated from Harvard's John A. Paulson School of Engineering and Applied Sciences.

Friday, July 12, 2019

Government Spending is Out of Control


 The federal government spent a record $3.4 trillion in the first nine months of fiscal 2019 (October through June), according to the Monthly Treasury Statement released Thursday.

Prior to this fiscal year, the most the federal government had ever spent in the October-through-June period was last year, fiscal 2018, when the Treasury spent $3.2 trillion.


Before last year, the most the federal government had ever spent in the first nine months of the fiscal year was in fiscal 2009, when it also spent $3.2 trillion.

This is not how you drain a swamp. This is feeding the alligators the limbs and torsos of the average American.

-RW

Harvard Suspends Economist For Two Years Without Pay

Roland G. Fryer
They got him.

Harvard University suspended economist Roland G. Fryer for two years without pay and will close Education Innovation Laboratory, his off-campus research facility, reports The New York Times.

Frye has been the subject of several concurrent university investigations, which concluded that

Thursday, July 11, 2019

Trump's Signals He May Start Going After Bitcoin

The below seemingly came out of the blue, but really not surprising.

Trump's controls do not want paper currency competition.

The regulations are coming.

Good Riddance Ross Perot

Ross Perot
By Robert Wenzel

Ross Perot died on Monday at the age of 89.

He was in many ways the first political Trump but he was nerdy, had a military-style haircut instead of a combover, and a deep Texas twang instead of a mild New York accent.

Wednesday, July 10, 2019

Fed Chairman Powell Signals Interest Rate Cut Coming!

Fed chairman Jay Powell
In prepared testimony before the House Financial Services Committee, Federal Reserve Board Chairman Jay Powell said business investments across the U.S. have slowed “notably” recently as uncertainties over the economic outlook linger.

How Much You Need to Make to Live Comfortably in the People's Republic of San Francisco

A new study by the finance site GOBankingRates finds that of the 50 most populous cities in the country, San Francisco requires the most income to reach a comfort level determined by the 50-30-20 budgeting rule. Under the rule, 50 percent of income covers necessities, 30 percent covers discretionary items and 20 percent is for savings. If your income is sufficient to cover your cost-of-living expenses, you can live comfortably.

Judges Appear Set to Rule Against Obamacare Individual Mandate

A panel of federal appeals court judges on Tuesday sounded likely to uphold a lower-court ruling that a central provision of the Affordable Care Act — the requirement that most people have health insurance — is unconstitutional, reports The New York Times.

Here is the current situation:

Tuesday, July 9, 2019

Trump's Top Economic Adviser's Not Exactly Ringing Endorsement of Fed Chairman Powell

Larry Kudlow
How safe is Federal Reserve Board Chairman Jay Powell's position as chairman of the Fed?

“I will say that unequivocally, at the present time, yes he is safe,” President Trump's National Economic Council director Larry Kudlow said at CNBC’s Capital Exchange event.

"At present"? Not exactly powerful support.

Treasury Could Hit Debt Ceiling in Just Eight Weeks

Well, it appears the circus is coming to D.C. earlier than originally expected. I can already smell the elephant manure.

The U.S. government could run out of money to pay all of its bills by early September if Congress doesn’t rush to raise the debt ceiling, according to a new study by The Bipartisan Policy Center.

In May, the BPC projected that the Treasury would have until October or November before it hit the debt ceiling.

But things have changed (sort of).

Monday, July 8, 2019

Why Male Soccer Players Make More Than Female Soccer Players

Megan Rapinoe
By Thomas DiLorenzo

A stadium full of French socialists chanted “Equal Pay!  Equal Pay!” after the U.S. women won the World Cup over the weekend.  They were supporting the complaints of perpetually-angry-and-complaining Megan Rapinoe, the star of the U.S. women’s soccer team, about how the women are paid less than the men.

New York Fed President Goes All Out Socialist

New York Federal Reserve President John Williams is now claiming that the mandate of the Federal Reserve is the socialist theme of "shared prosperity."

Another Attack By Trump On the Federal Reserve (And a Crazy Move He Might Make)



President Trump has again attacked the Federal Reserve, labeling it the “most difficult problem” the U.S. faces.

Sunday, July 7, 2019

"Grab a Stiegl & Let's Talk Economics" with Robert Wenzel

FYI

I will be a guest this Friday evening of the Bastiat Society of San Francisco.

Registration is required. Tickets are $15.00. Space is limited, registration details are here. (Registration closes at 2:00 pm PDT on July 11.)

Hope to meet some Bay Area EPJ readers.

-RW