Category Archives: Economy

The Uncertainty Chant

Barack Obama, Business, Debt, Economy, Inflation, Regulation, Taxation

In “You Can’t Fix Stupid,” I counted the ways of Barack Obama’s stupidity, as far as the natural laws of economics go. Today he did me one better, claiming that “uncertainty over the debt ceiling has hindered hiring in the private sector.” The horrible jobs reports, in other words, were a function of market fears that the US would halt the borrowing and bankruptcy trends. That’s certainly novel. Let’s not forget that Republicans feed this folly by advancing, as a counterargument, the same tack: we have no certainty in capital and other markets, therefor no one will hire.

Nonsense on stilts: There is ample certainly; certainly about economic gloom-and-doom to come. Given the indicators in the US—OPD (Outstanding Public Debt) almost equaling GDP (Gross Domestic Product), the first is growing faster than the second—businesses have to become as lean as possible.

The uncertainty mantra is a mindless one. There is plenty of certainty: certainty about a dark future. A business that is to survive needs to streamline and become super efficient. It has to hunker down and stay in survival mode. So should you.

Where Was Coulter On … Economic Freedoms, Asks Vox Day

Ann Coulter, Bush, Debt, Economy, Federalism, John McCain, libertarianism, Republicans

My WND colleague Vox Day wants to know “where was Miss Coulter when the McCain-Palin ticket suspended its Republican presidential campaign to help the Bush administration collude with the Democratic Senate to ram TARP down the throats of a protesting American public?”

“Cowering frauds,” writes Vox—with reference to Ann Coulter’s term for libertarians who do not want a department of marriage affairs to be added to the Federal Frankenstein in enforcing morality—“is a term that is best reserved for Republicans, who preach fiscal responsibility while repeatedly raising the debt ceiling, who talk about the importance of respecting the law while permitting Wall Street to openly violate it at will, and who claim to advocate personal freedom while staunchly supporting a futile Prohibition that saw three times more Americans arrested for drugs last year than were arrested in 1980.”

Check the WND archives for the two months leading up to the 2008 presidential election. Miss Coulter was too busy cheering on the Red Faction of the bifactional ruling party in a futile attempt to elect John McCain to bother speaking out against the Republican elite’s rejection of economic reality, small government principles, the U.S. Constitution and the American people. On the other hand, WorldNetDaily’s two libertarians, Ilana Mercer and myself, wrote no less than 10 columns attacking TARP and the treacherous Bush bailouts during those two months. When viewed from this perspective, Ann Coulter calling libertarians ‘”cowardly frauds” looks rather like Anthony Weiner calling Pope Benedict XVI a perverted exhibitionist.

Borrowing From … Brazil

America, Debt, Economy, Foreign Policy, Free Markets, Inflation, Left-Liberalism And Progressivisim

Did you know that Brazil “is now the United States’s fourth-largest creditor”? They’ve been increasing their wealth, which has afforded the US the opportunity to spread its debt.

This according to a book by Larry Rohter, BRAZIL ON THE RISE: The story of a country transformed, reviewed in the June 17, 2011 issue of the Times Literary Supplement.

To read between the lines, Brazil is changing from a crappy country to a not-so crappy country. Given Rohter’s retarded analysis—Brazil’s improvement he puts down, in part, to wise “cash-transfer social programmes”—it’s hard to know what’s afoot. The Left truly feels—for they don’t think—that moving money from wealth creators to wealth consumers generates plenty.

It’s safer to say that, as in Chile, freeing markets has generated greater prosperity for Brazil.

Like white on rice, the Us in on any country with “significant foreign currency reserves.”

The Israel-Kinect Connection

Business, Economy, Education, Family, Free Markets, Human Accomplishment, Israel, Media, Regulation, Science, Socialism, Technology

Who do you think invented Microsoft’s “Kinect,” which is in the Guinness Book of Records as the “Fastest-Selling Consumer Electronics Device” ever? Microsoft would like to claim the credit, but it belongs to an Israeli outfit called PrimeSense.

It’s my guess—and CNN’s Zombie Zakaria might wish to investigate this—that, overall, those who invent these silly contraptions are not necessarily the same sort of people who use them obsessively. (I recently watched a boy bob up-and-down and sideways like an automaton for over an hour in front of the Kinect. Back in the day, my own, now-grown girl would have been building Lego, painting, reading, or “inventing” creative games in the yard.)

Yes, the fogies of “60 Minutes” are obsessed with kids; errant American adults cater to, and worship, but never guide, their kids. The outcome of deification without direction is that the current crop of fattened little Buddhas is not that great.

Truth be told, the hybrid, hi-tech workforce—comprised as it is of local and outsourced talent—is manned, generally, by terribly smart, much older people with advanced engineering degrees. (That’s too much like hard work which is hardly “fun.”) The truth is that the people designing gadgets for America’s (face it, dumb) kids are older and highly educated. Some are Americans; others are Asians (South more than East, but both) and Israelis. The hi-tech endeavor is thus all about the older generation—veteran techies—uniting to supply their young, twittering twits with the playthings that keep their brainwaves from flatlining.

Back to the point: Some of my readers refer to Israel’s economy as a socialistic one, a fact that could reflect a general media bias (against Israel, not socialism). Although Israel’s economy is by no means unfettered, it is not much different from Western Europe’s Third-Way, mixed economies, with a respectable per capita GDP. Warren Buffett has invested billions in Israel’s private sector, with good returns. The country’s high-tech industry has certainly been on the cutting edge for sometime.

Significant is the trend. And it is unmistakable: “Emerging markets,” as Israel is, are becoming freer, whereas America is becoming less free. The devil is in this detail.

I am affiliated with the Jerusalem Institute for Market Studies. Those who’re interested in tracking the effort to liberalize Israel’s economy will get a good idea by following JIMS’ remarkable work out of Jerusalem.

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For a third day in a row, my book, Into The Cannibal’s Pot, is Amazon’s #1 in the category on Social Policy. The Publisher (link here) is not charging for shipping. This is valuable for our South African readers. Kindle will be up by, I am told by the best man possible, early this week, probably tomorrow.