Economics

Data Point – Three quarters in a row?

by Skip November 12, 2017

All leading economic forecasters said it would be impossible for President Trump’s MAGAnomic plans to generate 3% GDP growth in the first year.  President Obama said it was impossible and Trump would need a “magic wand, or something“. Well, three months after taking office (April-June), it was Quarter 2, and the U.S. GDP began growing over […]

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World Economy explained with two cows – Part 4

by Skip October 27, 2017

And then asks for money for next year’s budget for a job well done. (H/T: Pinterest)

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Data Point – 3rd quarter GDP 3.0% rise

by Skip October 27, 2017

This is on the heels of last quarter’s 3.1% rise – two quarters in a row of above 3.0% since 2014 under Obama (and that year turned in a measly 2.4% overall).  No, two points in a row does not yet make a trend but predictions were showing around 2.4-2.5% due to Harvey, Irma, and […]

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Catching up Part 5 – Paul Hodes had Cognitive Dissonance again.

by Skip October 23, 2017

Concord Monitor (the ink-stained den for Progressives who have hard times stringing two coherent thoughts together) – on Jan 21, former CongressCritter Paul Hodes said that NH has to raise its entry labor costs in order to attract new businesses to NH (Yeah, as a former business owner, that gets my motor started on that […]

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World Economy explained with two cows – Part 3 Fascism

by Skip October 22, 2017

Actually, Fascism realized that, unlike Socialism, one can have the same outcome as Socialism / Communism.  The State didn’t need to own the sources of Production to control them – just an overarching set of laws and regulations that the owners of those means of production that result in effective control without being the legal […]

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Notable Quote – Prof. Dan Boudreaux on “Price Gouging”

by Skip October 11, 2017

Some letter-writers who criticize my defense of so-called “price gouging” mistakenly assume that I oppose charitable actions to help victims of natural disasters (Letters, Oct. 11).  In fact, I applaud any and all outpourings of such generosity.  To the extent that big-hearted people make available, at zero or very low prices, additional supplies of goods […]

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Notable Quote – The essence and foundation of capitalism

by Skip September 10, 2017

For one thing, mutually advantageous exchange is not the worst ethical school. It is better than the violent pride of aristocrats or the violent insolence of bureaucrats. And in economic liberalism, the human desire to excel is provided millions of honorable paths, from model railway building to show business, as against in illiberal societies the […]

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Notable Quote – Steve Horowitz

by Skip September 9, 2017

The laws of economics are not suspended in an emergency, no matter what the laws of politicians attempt to do. When goods are more scarce, they will be costly to obtain, whether those costs are in terms of money or something else. The importance of letting market prices do their job and determining who gets […]

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When Big Government tries to “make a market” when none exists

by Skip July 13, 2017

Fools.  There are just too many people in Government that believe, simply by dint of receiving a government paycheck, that they know better than everybody else on what they should buy and when.  Like the Cash for Clunkers that didn’t meet its goal of Keynesian “stimulating” the auto industry by paying people up to $4,500 […]

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DISQUS Doodlings – whereupon NH State Rep Timothy Horrigan, once again, shows economic illiteracy

by Skip June 30, 2017

Even though he at least shows up here once in a while,  NH State Rep Timothy Horrigan’s comments are often off topic, irrelevant, or plain wrong.  In Steve’s post, McDonald’s Pulls the Trigger: Replacing Cashiers With Kiosks in 2500 Locations, he manages the trifecta of all three.  Like this one: As for the $15 wage, McDonald’s already […]

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The mineshaft that is California and its canary is restaurants. Dead ones.

by Skip June 30, 2017

I have been involuntarily offline for a while – the Grandson has been staying up too late (his daytime nap times are changing affecting my “uninterrupted time” at night), certification exams for work – and my laptop crapped out early this week.  I just got it back thanks to Josh and his crew at Same […]

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Will Progressives hold themselves accountable for the results of their wage policies?

by Skip April 15, 2017

Pfft – silly question, folks!  Just ask Timothy Horrigan (more on him in another post) – HECK no.  Never do.  Not just in wage policies but ANY policy that comes up.  Like HeadStart – billions have been spent on it and even HHS’s own study of HeadStart showed it was a loser – unless it […]

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Notable Quote – Don Lavoie

by Skip April 13, 2017

It is indicative of a peculiar view of society when the (voluntary) actions of millions of market participants are dismissed as inaction merely because active (coercive) involvement by the government is minimized. -Prof. Don Lavoie (Economics, National Economic Planning: What Is Left?🙂 (H/T: Cafe Hayek)  

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Notable Quote – Ludwig von Mises

by Skip April 11, 2017

Smith’s books did not lay the foundation stone, but the keystone, of a marvelous system of ideas.  Their eminence is to be seen precisely in the fact that they integrated the main body of these ideas into a systematic whole.  They presented the essence of the ideology of freedom, individualism, and prosperity, with admirable clarity […]

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Notable Quote – Arnold Kling

by Skip January 14, 2017

There are several fundamental concerns with the presumption of a wise, benevolent policy process. It treats the knowledge embedded in an economist’s simplified model as though it were complete knowledge. It ignores the ways that markets adapt to solve problems. And it presumes that when the political process goes to work on problems, it arrives […]

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Economic Moron: Philly Mayor Jim Kenney

by Skip January 14, 2017

When you lay down policies that would have adverse results on a given business, Democrat politicians get upset when it’s shown that these same Democrats: Keep failing the Law of Unintended Consequences Can’t do math Don’t understand that almost all businesses are going to act in their own self-interest. So, Philadelphia Mayor Jim Kenney was […]

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Notable Quote – Abigal Hall Blanco

by Skip December 29, 2016

But there is one thing I hope all my students remember forever—the role of prices and private property. In particular, I want them to remember how these mechanisms are vital for a free and prosperous society. I make it clear to them that I think this material is of the utmost importance. In fact, prior […]

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Betcha she’ll no longer be proud of the US come Jan 21, too

by Skip December 27, 2016

SHOT: “We feel the difference now. See, now, we are feeling what not having hope feels like,” she told Oprah Winfrey in an interview, a clip of which aired on CBS on Friday. “Hope is necessary. It’s a necessary concept and Barack didn’t just talk about hope because he thought it was just a nice […]

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And the Democrat Progressives want us to outsource our governance to “The Expert Technocrats”. Ahem?

by Skip November 21, 2016

Just too good not to lift pretty much right from Instapundit – just know that PREVIOUSLY, Krugman was exactly that: a Nobel laureate in Economics.  Behold his expertise! PAUL KRUGMAN ON ELECTION NIGHT: “If the question is when markets will recover, a first-pass answer is never.” WSJ, tonight: “The S&P 500, Dow Jones Industrial Average […]

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Notable Quote – Mark Perry

by Skip October 24, 2016

Remember that the real minimum wage is always zero, because that’s the wage that hundreds of thousands, possibly millions of workers will receive following an increase in the minimum wage to $15 an hour, because they will either lose their jobs or fail to find jobs when they enter the labor force. (See Congressional Budget Office […]

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Whining like a little child…

by Skip October 23, 2016

Like I’ve said in the past – no intellectual honesty and their only standard is a double one. (H/T: Powerline)

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Notable Quote – Paul Samuelson

by Skip September 24, 2016

Let me read you another one. “Minimum wage rates: these often hurt those they are designed to help. What good does it do a Negro youth to know that an employer must pay him $1.60 per hour if the fact that he must be paid that amount is what keeps him from getting a job?” […]

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Data Point – Real median income

by Skip September 22, 2016

(H/T: Business Insider)

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Data Point – CEO compensation

by Skip September 14, 2016

Instead, advocates of redistribution cavalierly diminish the importance of incentives. They claim the success of America’s 1% stems from rising cronyism despite overwhelming evidence that the status quo has grown less entrenched. Seventy percent of the wealth of the top 0.1% is owned by self-employed business owners who bested competitors to satisfy customers, not cronies, […]

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Perhaps a reason why they are in the bottom 20% of income distribution?

by Skip September 6, 2016

A little over half of the households in the bottom 20 percent have nobody working. You don’t usually get a lot of income for doing nothing. In 2010, there were more people working full-time in the top 5 percent of households than in the bottom 20 percent. –Professor Thomas Sowell (Ph.D, Economics) (H/T: Cafe Hayek)

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Blogline of the Day – it always comes down to glass

by Skip August 16, 2016

Keynesian economics is just the Broken Window Fallacy in a posh accent. Think Frederic Bastiat (H/T: Instapundit)

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Essential Hayek: Who Is F. A. Hayek?

by Scott Morales July 11, 2016

   

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Blogline of the Day: China and manufacturing

by Skip April 23, 2016

China is ‘celebrating’ U.S. efforts to reduce its carbon emissions because ‘they will end up inheriting’ much of America’s manufacturing base.” -Sen. James Inhofe (R-Okla.), chairman of the Senate Environment and Public Works Committee (H/T: Instapundit)

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Data Point – Your paycheck under Bernie Sander’s tax plan

by Skip April 19, 2016

Short take: you will have less.  Because Govt will demand more.  Emphasis mine, reformatted: an American making $18,870 a year would see a $45 drop (7.3% reduction) bringing their paycheck from from $616 down to $571 every other week. An individual in the lower-middle income range taking in $23,430 would take a 7.6% hit, with their checks […]

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Never a chance they’ll review on what they have wrought

by Skip April 9, 2016

Progressives place a bunch of constraints of the lives of the working poor, then they expect to be hoisted triumphantly into office on the shoulders of people they have harmed. When a worker making $800 on 50 hours of work has to go home and tell her family she is now making $600 on 40 […]

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