Category Archives: Economy

TSA , VA, ObamaCare, SandersCare; Gov.Com: Economically They’re The Same

Economy, Government, Healthcare, Homeland Security, Political Economy, Private Property

To the economically literate: It’s your obligation to know by now—especially if you read this space—that nothing the head of the Transportation Security Administration and Homeland Security can say or do will change the fact of “long waits at the nation’s airports” this summer and any other peak travel time.

Lines—overload, undersupply, malfunction—are a function of a government system, whose incentives were explained in “Why Government ‘Care’ Will Never, Ever Work,” and elsewhere:

Since it “manages” money not its own, government has no real incentive to conserve resources, ensure a job is properly done, or deliver on its promises. Entrusted with the administration of assets you don’t own, have no stake in; on behalf of people you don’t know and who have no real recourse against your mismanagement—how long before your on-the-job performance mirrors that of the government? …

… A monopolist, moreover, doesn’t have to please consumers, because he has them cornered. Therefore, in a politburo, political decisions trounce considerations that would win out in the market place. Consider: HealthCare.gov was coded with the goal of harvesting sensitive information from applicants while concealing rip-off prices from them. Why would the Central Planning Board (aka the Centers for Medicare and Medicaid Services in charge of Obamcare) care that such coding has created a hacker’s dream, when their wet dream is to share data culled through HealthCare.gov with the IRS, the DHS, the TSA, on and on?

Like the communist elite, the Congress elite seldom subjects itself to the same health care or the same laws as the people. Unsurprisingly—and by legislative sleight of hand—lawmakers have used their privileged positions to pass laws exempting themselves and their lackeys from liability. “Governmental immunity” is designed to “stop people from suing the government and government employees and officials in many cases.”

With taxpayers ponying up for any … slip … and responsibility collectivized—fear of being fired or penalized is non-existent among the ruling class. Government failure will never see the closing of a government agency, or the firing of nasty, inefficient, over-paid, affirmatively appointed official.

I hope you are able to generalize from healthcare.gov to TSA.gov, to VA.gov and beyond.

Economically, the incentive structure is the same in the TSA , ObamaCare, SandersCare, Gov.Com.

The nationalization of airports by BUSH II was first explored in “WHOSE PROPERTY IS IT ANYWAY?” (June 5, 2002). Read it. Teach it.

TRUMP’S ‘Bad Week’ Tweets: Silent Majority Rising, Says No To NATO, RNC, Neocons, Kasich, Cruz & Debt

Debt, Donald Trump, Economy, Foreign Policy, Republicans

RepubliKeynesian Ben Stein Froths At The Mouth About Trump

Debt, Donald Trump, Economy, Federal Reserve Bank, libertarianism

“Frightening, idiotic, nonsensical, insane, breathtakingly horrible, flabbergasting, makes me want to cry”: Does this spleen, vented by Ben Stein, resemble an “argument”? It was the sum total of Stein’s “case” against Donald Trump’s recent pronouncements about a foreseeable recession.

As an “expert” who despises Mr. Trump, Stein—an actor, comedian, lawyer and self-styled economist—holds sway with the liberal, malfunctioning media. Our establishment “RepubliKeynesian” appeared on the anti-Trump channel, CNN, to huff and puff about Mr. Trump’s alleged far-fetched doom-and-gloom about a troubled economy. If I recall, this expert was clueless about the previous bubble, not that errors prevent the pundit class from returning for encores.

“We’re not in a bubble, unemployment is not high, Trump needs to consult a real economist [take me, me, screams Stein silently] were some of Stein’s assertions to the smirking, vacuous looker, Pamela Brown. Naturally, Brown provided no counter perspective.

Suffice it to say that Trump’s warnings about the effects of the enormous national debt, the still bigger burden of unfunded liabilities owed, as well as his assessment of the real unemployment numbers would certainly comport with more distortions in the economy and more bubbles.

Oh, and Trump supporters are all idiots for not sympathizing with Stein’s outrage.

Anyhow, not one argument was advanced by Stein for his case against Mr. Trump, only ad hominem. Had the smirker in the anchor’s chair called in an economist, say, of the Austrian persuasion—or even Paul Craig Roberts, United States assistant secretary of the treasury for economic policy under President Reagan, in 1981—she would have heard a perspective more in agreement with Trump than with RepubliKeynesian Ben Stein.

Donald Delivers Economic Expertise @ Free-Market Speed

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

No sooner had I penned “Trump And Trade,” questioning the slavish devotion of my own philosophical tribe, libertarians, to trade deficits, without considering that America’s trade imbalances occur in the context of debt—personal, corporate, state—than the magnificent Maria Bartiromo introduced, on Sunday Futures, the equally impressive Stephen Miller to speak to these matters.

Miller is a Trump Campaign senior policy adviser.

To comport with his earlier contention that, “We can’t have a service only economy,” Miller stated today (3/20):

It’s the donors vs. the voters. “The choice we have is between the national interests vs. the special interests.”

Mr. Trump’s has killed off the Cult of Megyn Kelly. Next on his to-do list: Replace crappy journo Kelly with pro Ms. Bartiromo.

Related:

“The Me Myself And I Megyn Kelly Production.”

“Trump And Trade.”

3/21/016: