Filed under: Bureaucracy, Capitalism, Economy, European Union, Regulation, Taxes | Tags: No Self-Awareness, The British Exit, The EU Hissy Fit
Filed under: Capitalism, Democrat Corruption, Domestic Policy, Economics, Economy, Free Markets, Politics, Taxes, The United States | Tags: AEI's Carpe Diem Blog, Econ Prof Mark Perry, The Economic Fact of the Day
From Economist Mark Perry at The American Enterprise Institute:
Economic Fact of the Day. There hasn’t been a single president in US history whose time in office didn’t include at least one year of 3% economic growth (real GDP), which is the average growth rate in the post-WWII era. The highest growth during Obama’s seven years in office was 2.5% in 2010, and the average growth from 2009 to 2015 was 1.4% (and 2.1% without the -2.8% growth in 2009).
Obama has been out bragging about the success of the economy in his administration. The candidates running to succeed him excoriate the Obama economy. They’re right, but I’m not sure any of them are capable of improving it.
Filed under: Bureaucracy, Capitalism, Economics, Economy, Education, Freedom, Heartwarming, Taxes, Unemployment | Tags: Graduation Speech, Making a Living, Mike Rowe's Dirty Jobs
Filed under: Capitalism, Economy, Education, Free Markets, Freedom, Politics, Pop Culture, Progressives, Progressivism, Taxes | Tags: Economist Lee Ohanian, Reality and Ignorance, What's Fair and What Isn't
Here’s noted economist and economics professor Lee Ohanian from U.C.L.A. clarifying things a little for the ignorant. Or — all about income inequality, and other leftist confusions.
Filed under: Bureaucracy, Capitalism, Democrat Corruption, Economy, Energy, Free Markets, Global Warming, Junk Science, Regulation, Science/Technology, Taxes | Tags: The Butterfield Fallacy, The Danish Problem, The Ferguson Effect
Progressives, Liberals, Lefties consistently have trouble understanding cause and effect. I’ve been noticing this for quite a while, particularly in relation to crime. That is where the famous “Butterfield Fallacy” comes in( well, maybe not famous, but it should be.) Fox Butterfield was a reporter for the New York Times, “whose crime stories served as the archetype for his eponymous fallacy.”
“It has become a comforting story for five straight years, crime has been falling, led by a drop in murder,” Butterfield wrote in 1997. “So why is the number of inmates in prisons and jails around the nation still going up?’ He repeated the trope in 2003: “The nation’s prison population grew 2.6 percent last year, the largest increase since 1999, according to a study by the Justice Department. The jump came despite a small decline in serious crime in 2002.” And in 2004: “The number of inmates in state and federal prisons rose 2.1 percent last year, even as violent crime and property crime fell, according to a study by the Justice Department released yesterday.”
The Butterfield Fallacy consists of misidentifying as a paradox, that which is a simple cause-and-effect relationship. You put more bad guys behind bars, and the crime rate goes down. Lefties disapprove of sending people to prison because they believe it to be racially discriminatory. “In 2004 almost 10 percent of American black men were in prison” and it diverts tax money from what should be higher priorities. I’ve written about this a number of times, but I have a hard time recognizing how pervasive the inability to understand cause and effect is.
Today’s problems also include the “Ferguson Effect” which has resulted in policemen being more hesitant to arrest or deal with crime, especially in the black community — because of the blowback from the death of Michael Brown in Ferguson MI.
When the demand for a higher minimum wage began to circulate, we explained that a minimum wage was a starting wage for beginners, and low because they weren’t worth more, and there was no end to the numbers of people who wanted a starting-out job. We explained that most get a raise within the first 6 months. We mentioned automation. But the Lefties said “you can’t raise a family on the minimum wage.” Of course you can’t — the minimum wage is for beginners.
So Lefties are raising the minimum wage legally (government has no business telling businesses how much they must pay workers). Well effect follows cause and Wendy’s Restaurants are installing self-service kiosks in their approximately 6,000 restaurants across the country in the second half of the year. There are 258 Wendy’s in California where the minimum wage has gone up to $10 an hour. The former CEO of McDonalds warned that Robots cost less than paying a $15 minimum wage. Hillary jumped in on the controversy to demand an end to disabled workers’ exemption from minimum wage requirements — and got a stinging rebuke from economist Don Boudreaux. Cause and effect.
Greenies usually use Denmark as a stunning example of the beneficial use of natural wind power. Well, Denmark is abandoning wind power. Danes’ cost of energy has been climbing and climbing, with 66% of the bill being “green taxes” and only 15% going to energy generation. Denmark’s energy prices were the highest in Europe, and politicians are abandoning wind power as too expensive. Greenies celebrate the natural source of energy, but the problem remains that wind does not blow at the correct speed to generate power even most of the time. They’ve tried to remedy that with taller turbines, more exotic minerals, better designs — doesn’t matter. The cause is the nature of wind, the effect is unaffordability.
In desperation our federal government has raised the numbers of eagles and other birds that the wind farms and solar arrays can chop up or fry each year, But that too is a cause and will have an effect — not yet recognized. In the meantime, the world’s largest solar array at Ivanpah which has never produced the electricity they promised (cause) and is under enormous pressure to do something — did. It caught on fire.
Keep an eye on the inability of the Left to grasp this simple fact, you will find that it explains a lot.
Filed under: Bureaucracy, Capitalism, Domestic Policy, Economics, Economy, Election 2016, Foreign Policy, Free Markets, Immigration, Iran, Iraq, Islam, National Security, Politics, Taxes, Terrorism, The United States | Tags: Donald Trump, Indiana Primary, Ted Cruz
They are voting in Indiana, and the polls will be closing soon. I do not understand this presidential campaign at all. We are told that the people are really angry. According to the media and Donald Trump, they are angry about illegal immigration, and unfair trade policy that is negatively affecting our country. According to exit polls, the people are not particularly concerned about immigration as it is far down the list of concerns, and majorities prefer a path to citizenship.
Mr. Trump is going to build a huge big wall. And he is going to put big tariffs on any country that isn’t being fair. He’s going to be nicer to our friends so we will be closer, but he will insist that they pay a larger share of the cost of protecting them from radical Islam. He liked World War II and the Cold War, but is against any foreign adventures since.
What the people seem to be angry about is the economy, the lack of jobs, jobs going to immigrants, they are fearful about terrorism, angry about the ridiculous hooplah over women’s restrooms being open to men, the increased cost of ObamaCare, the lack of jobs and economic growth, and increased inflation while salaries have not risen at all. Jobs have vanished on coal country, employment is down in oil and gas country because of the drop in the price of oil, some manufacturing jobs have gone overseas because of high corporate taxes, and some high-tech jobs have gone to H1-B immigrants.
All of these problems are the direct result of policies of the Obama administration. The stimulus didn’t work. Republicans warned that ObamaCare was not going to work and would cost more, not less; every Republican voted against he initial law, and have voted to repeal the act five times, Obama has vetoed their efforts each time. Jobs have gone to offshore companies as a direct result of the highest corporate tax in the world. The rise of ISIS and the war in Syria and the Middle East is a direct result of Obama pulling the troops out of Iraq too soon. President Obama vowed early to bankrupt the coal companies, which he has done in a misguided and fruitless battle against catastrophic global warming which exists only in the computer programs of the IPCC. And in refusing to utter the words Islamic terrorism, Obama has skewed all of our perceptions of the Middle East and what is happening.
So the people are furious with the Republicans? Huh?
They blame the policies of the Obama administration on the Republicans? They don’t think the Republicans have done enough to stop the administration?
This is the first time, as far as I know, when a President of the United States has deliberately decided that “he has a phone and a pen” and he will accomplish by executive order or actions of agencies whatever he wants, and that he will pay no attention to the Constitution of the United States of America, because he believes it to be a tired old document that needs repealing or fixing. The remedies available are to proceed through the courts in one lawsuit or another or to impeach the president. The Republicans have voted to repeal ObamaCare five times, Obama has vetoed every bill.
Results are in from Indiana, and Donald Trump has enough votes that he will be the presumptive nominee, for he is sure to pick up enough from states like California and Washington, for example, from the remainder of states left. Ted Cruz has suspended his campaign.
I am not and have not been a Trump supporter. I do not understand what they hope for from what little Mr. Trump has had to say in his speeches. His supporters seem to put a lot of faith in “Make America Great Again” and “America First” which was a discredited slogan from the America First Committee which was highly non-interventionist in the days just before World War II. I guess they see it as patriotism and strength. I see it as lacking in evidence.
We’ll see. Mr. Trump hasn’t even released his tax returns, and is due to face trial for fraud regarding his promotion of Trump University. But then the case against Hillary proceeds slowly as well. What a weird, weird electoral season.
Filed under: Capitalism, Domestic Policy, Education, Freedom, Humor, Law, Politics, Regulation, Taxes | Tags: Bill Whittle, Progressive Millenials, The David Horowitz Freedom Center
This speech by Bill Whittle was the keynote speech at the David Horowitz Freedom Center’s 2016 West Coast Retreat earlier this month in Palos Verdes, CA. He’s a terrific speaker, and in this case he was talking about talking to the millennials — Progressive millennials.
So his speech became sort of a lesson in how to talk to progressive millennials who have a lot of preconceived notions about conservatives — about some of today’s common issues of disagreement, like Citizens United, and guns, and Socialist paradises and science — that sort of thing. And because he’s a terrific speaker, he does it very well indeed. You can watch, or if you prefer to read the transcript it is here.
I’m inclined to read transcripts myself, because I go back and read some sentences over again when I think something is particularly well said, and there’s a lot of that here.