Category Archives: Debt

Thanks To Private Enterprise Ingenuity, Not Government Frugality, The US Is Not Venezuela

America, Business, Debt, Economy, Government

Venezuela’s inflation is 46,000 percent a year, “which in turn is largely caused by the printing of money to finance the government’s deficit of 30 percent of GDP.” (“Venezuelan cash is almost worthless, but also scarce,” Economist, July 12th, 2018.)

“In FY 2017, the federal deficit was 3.4 percent of GDP. This year, FY 2018, the federal government in its latest budget has estimated that the deficit will be 4.2 percent of GDP.” (https://www.usgovernmentdebt.us/federal_deficit_percent_gdp.)

The Gross Domestic Product (GDP) in the United States was worth about 19 trillion US dollars.

Thanks to private enterprise ingenuity, not government frugality (see US Debt Clock), the US is not Venezuela.

Harley-Davidson Had Been Looking To Move Production Off Shore For A While

Capitalism, Debt, Donald Trump, Economy, Free Markets, Trade

Conservatism once had the genius of James Burnham, Russell Kirk, Frank Chodorov, and Felix Morley; now the brand boasts Rich Lowry, Meghan McCain and S. E. Cupp.

The last has learned nothing from the 2016 election. S. E. Cupp, a Never Trumper who hosts a CNN show, is betting against Donald Trump. She says, “Trump Supporters Soon Will Learn That No One Wins A Trade War.”

Where’s the learning curve? I would not bet on Trump losing a trade war.

This is not to advocate tariffs. I am for free trade. But here’s the clincher. We don’t have free-market capitalism. Never have; at least not in recent memory.

Thus, “trade deficits must be seen in the context of state-managed trade and systemic debt.” That’s what Trump is negotiating; he’s not messing with the divine order in which we true free-marketers believe. For it doesn’t exist.

As for Harley-Davidson’s decision to move some of its production outside of the U.S.: Rep. Thomas Massie (R-Ky.) and Kennedy of Fox Business disclosed that the company had been looking to move production off shore for a while and were searching for an excuse to do so.

 

UPDATED (6/6/018): Guaranteed Taxpayer-Financed Income For EVERY Americans: If Degenerate Dems Take Over, Economy Will Tank

Debt, Democrats, Economy, Free Markets, Government, Labor, The State

When Democrats are not plotting on giving houses to the homeless, paying drug addicts to shoot up, and inviting the world to immigrate to the US—they’re scheming on the ultimate decadent, immoral and unworkable government plan: “guaranteeing every American a taxpayer-financed job”:

Senator Bernie Sanders recently promised to introduce a bill guaranteeing every American a taxpayer-financed job, should they want it. His colleague, Senator Cory Booker, has already written a bill which would test such a policy in 15 places with high joblessness. Senators Kamala Harris, Elizabeth Warren and Kirsten Gillibrand, three other potential presidential contenders, are co-sponsors. Ms Gillibrand will reportedly soon pen her own plan, too.

In addition to the cost of the program, the giveaway will expand the government payroll by 50 percent. Presumably to administer.

“In April 2018, about 127.34m people were employed on a full-time basis” in the US. (The Statistics Portal)

The Economist’s says America has 148m workers.

Of this, “Government at all levels employs 22.3m Americans.”

This, of course, is not free-market capitalism.

MORE: “Make work can’t work: A jobs guarantee is a flawed idea.”

UPDATE (6/6/018):

Using Wall Money To Bomb Syria

Constitution, Debt, Homeland Security, IMMIGRATION, Just War, Nationhood, Reason, War

No idea why bootlickers are elevating Laura Ingraham’s mild objections to the Syria strikes. It looks like what she’s saying is that “if we had the money; then OK. But we’re broke, so not now.” Tucker Carlson, on the other hand, offers principled objections to The American Way (intervening everywhere).

Sure, money is an important consideration, but it’s entirely a side issue here—Ingraham’s utilitarianism makes no appeal to the Constitution, to the War Powers Act (a bad bit of legislation, but still); not to the sovereignty of nations, or to justice. Yes, her protestation is better than nothing, but arguments like hers are dodgy.

You see, the same argument is made against The Wall. This, as we use so-called wall money to bomb Syria. Even if we had the money, we don’t have the right, really. We do, however, have the obligation to stop aggressors from entering the US—whether they wage welfare, bring in hitherto eradicated diseases, or harbor hatred for Americans that spills over into hate crimes (terrorism and racially motivated crime).