Posts Tagged ‘economics’
Economist Paul Krugman, never reluctant to remind us that he won a Nobel Prize in Economic Sciences, wrote shortly after midnight that Trump appeared likely to win, which would of course, collapse the world’s financial markets, lead to global ruination, and from which the markets would never recover.
The Dow opened a tiny little 15 points down and within minutes began a climb to up by 251 points, pulling other indices along with it. I’ve never thought much of Krugman as an economic expert, because he is an elitist snob who has never grasped that markets are made up of people, and that when governments keep their sticky thumbs off the scales, markets are quite efficient, which is precisely why big-government advocates hate free market principles.
Krugman had to sort of take back his prophecy of economic doom after he woke up, but I look forward to many more examples of stupidity from Krugman over the next four years.
The USA just dropped to third place in the global competitiveness ranking. We used to be in first place, but now Hong Kong and Switzerland are ahead of us, thanks to the anti-business and high-tax, big regulation regime of Barack Obama. If you think this is a good thing, vote for Hillary, so she and her fellow Democrats can take us down another dozen notches.
I do not understand this. Why would Sears sell its three best-known brands? It seems to me that if you wanted to grow the Kenmore, Craftsman, and Diehard brands, you would consider dumping other items or lines which are less well-known and less profitable, with less growth potential. I fear a long-time icon is disappearing into the dustbin of history.
If you like dairy products, this is a great time to buy them, because we have a surfeit of cheese and butter, courtesy of a strong dollar and Russia’s embargo against the EU which made European producers target Asia and the Middle East, where American products generally sell.
I have always used real butter instead of the nomination called margarine, because butter tastes so much better, and a little goes a long way. For much the same reasons, I also prefer real cheese to “cheese products”, though I confess some of the latter can be very useful in a pinch.
If you are not a contributor to the Mercatus Center at George Mason University, you should be. It is a non-profit, free-market-oriented education, research and outreach organization which bridges the gap between academic ideas and real-world problems. Mercatus can tell you how fiscally responsible your state is, just for starters. The researchers deal in facts and figures — reality, not high theory, demonstrated in plain English instead of academic babble-speak.
With His Oneness assuring us that tepid economic growth must be regarded as the new “normal”, Mercatus decided to examine the problem and discover — ts causes. What it found was that if government regulations had been capped in 1980, our GDP would be 25% larger. Put another way, if the economic growth lost to regulation in the U.S. were its own country, it would be the world’s fourth largest economy.
Read the IBD article I linked to above — the charts included make it quite easy to grasp — then show it to everyone you know who believes in big government. It should open their eyes to the dangers of big government and the over-regulation which unfailingly accompanies it.