Quotes

Notable Quote – Ronald Coase and Ning Wang

Markets provide a platform through which firms compete for both resources and customers. How effectively firms perform these tasks depends primarily on how open the markets are, including the markets for factors and products, and how freely firms can be created and compete with each other. Essentially, firms’ effectiveness depends on how smoothly and quickly … Read more

Quick Thought: Not so much “free market”, eh Tom, when you want others to pay for “weeding your garden”?

So, Tom Thomson (son of Gov. Thomson of “low spending yields low taxes” fame) who for years was the honorary chair of AFP-NH which argues for Free Markets, has decided to go the Full Monty and arguing that electric rate payers (that would be you and I) should pay for his timber to be cut (e.g., override the biomass vetoes by Gov Sununu on SB 446 and SB 365 which would promulgate the over $2 Billion overcharges to keep the North Country Biomass subsidies for electrical generation plants that turn crap wood into overpriced electricity).  Sure, Free Market until it comes to be “get me some” and have Government continue to institute a undeserved and mandated “tax” on the rest of us:

Tom Thomson, a timberland owner of 2,600 acres and the conservative son of former Gov. Mel Thomson, spoke at the event in favor of overriding the veto. “You have to weed your garden if you want healthy vegetables,” Thomson said. “It’s the same thing with forests.”

Hey, go weed your own dang garden, Tom, and leave my wallet alone.  If you have any intellectual honesty at all, stop privatizing your profits and socializing your risk.  You can’t find folks to buy your timber?  Too bad – that’s the risk of being in business: reward AND failure. To paraphrase the line in your Op-Ed in the Concord Monitor:

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Data Point – And it wasn’t Socialism that caused this!

“In 1820, 94% of the world’s population lived in extreme poverty. In 1990, 34.8%, and in 2015, just 9.6%.”

 

…In the last quarter century, more than 1.25 billion people escaped extreme poverty – that equates to over 138,000 people (i.e., 38,000 more than the Parisian crowd that greeted Father Wresinski in 1987) being lifted out of poverty every day. If it takes you five minutes to read this article, another 480 people will have escaped the shackles of extreme of poverty by the time you finish. Progress is awesome. In 1820, only 60 million people didn’t live in extreme poverty. In 2015, 6.6 billion did not.

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Failure – a great illustration why Govt should stay out of the marketplace and work only within its constraints

sticker shock MilkPravda on the Merrimack – that’s what we oft call the Concord Monitor because it almost always advocates for MORE government to solve whatever problem ails us – and here, doubles down when a government policy just isn’t working at all. This time, it is about Government trying to control the marketplace for that common table victual – milk.  Simple milk. It’s putting family farms out of business so what does the Fishwrap do?  That’s right – doubles down.  Notice what its LAST resort happens to be (emphasis mine):

Dairy farms are disappearing, as Taylor told our sister paper, the Valley News, where he once served as managing editor, because a federal program sets the price of milk but does not control the supply. When milk prices drop, farmers add more cows to offset the loss, which then keeps prices down. Milk prices that averaged $24 per hundredweight in 2014 have fallen to $15, less than the cost of production.

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The Real Agents of Change

Democrats like to promote themselves as change agents.  Agents of change.  And this makes them hip.  Modern.  Progressive.  But nothing could be further from the truth.

Democrats promote the politicization of everything and by extension the bureaucratization of everything.  To them government is the best arbiter of progress.  But the process of making government the dispatcher of innovation has exactly the opposite effect.  It creates barriers to entry, reduces choices, dries up resources or locks them away, and leaves a few cumbersome behemoths who plod along beside big government, benefiting from their shared monopoly on “progress.”

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Guest Post: former Speaker of the NH House, Bill O’Brien on the passing of Margaret Thatcher

Rep. William O’Brien’s Comments on the Passing of Margaret Thatcher

Margaret Thatcher, former Prime Minster of Great Britain and the indispensable philosophical, political and international ally of Ronald Reagan, died this morning.

Lady Thatcher was a giant of conservative values and action.  Along with President Reagan, Margaret Thatcher inspired us with her thoughtful and unflinching advocacy of a dynamic, forward-looking conservatism.

In reaction to her death, Rep. William O’Brien (R-Mont Vernon) was quoted as saying, “Prime Minster Thatcher will be missed.  She was one of the foremost conservative leaders who have come forward in recent years and led change both in Britain and the United States.  Just as the liberal progressives of the Reagan/Thatcher era tried to diminish both of them with arguments that they had to soften their rhetoric and abandon important goals to get elected, so we hear the same claims today.  Thankfully, the Iron Lady and Ronald Reagan knew better that the importance of achieving critical public policy goals outweighed the politics of the moment and we remember both so fondly for their willingness to stand against the tide, let the personal invective wash over them, and make the world a better and freer place.”

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Another, more descriptive term for Capitalism?

Innovationism:

Deirdre McCloskey says somewhere that a better name for capitalism is “innovationism” – innovationism unleashed only in societies in which private property rights are at least reasonably secure, freedom of contract is at least reasonably the norm, markets are at least reasonably free, and (importantly) the multitude of bourgeois merchants and accountants and actuaries and laborers and financial experts and… and… and… innovators are accorded at least a reasonable quantum of dignity by society at large.

Capitalism, the voluntary exchange of one product or service for another (with money as a flexible intermediary) is certainly under attack by Progressives, Socialists, Communists, and Marxists as being “evil”.  Their claim is that it is not “moral” and that “the little people” get hurt when the markets go sour).

Sidenote: Notice that they never talk about about the 100s of millions of “little people” that died at the hands of those leading the Progressive / Socialist / Marxist / Communist regimes in the Soviet Union, China, East Germany, Czechoslovakia, et al.

What needs to be stated, over and over again, that we are losing the ability to have that voluntary exchange as Government (and those that “know better for us” – actually, the Progressives / Socialists / Marxists / Communists that work for an in Obama’s administration) outlines how ‘free markets’ are to behave by fiat.

After all, Capitalism only succeeds when someone “serves another’s interest” –

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“What is moral about the free market?”

One of my favorite economists is Dr. Walter E. Williams, Professor of Economics at George Mason University.  He is always able to take the complicated, boil it down, and make it easy to understand.  Given that the whole notion of what capitalism and the free marketplace can do (versus the socialistic turn we seem to … Read more

There is a difference between the Free Market and the Government Market

And TreeHugger decided to demonstrate that, with clueless irony, all on their own.  Yes, one more from TreeHugger that shows that Environmentalism has really left its roots of DOING environmental work and very much all about getting Big Government and its big teat (and very much, dependent on that teat) to do it instead as well as forcing lifestyle changes upon people that otherwise would not.  This time, trying to go all yammering that Republicans not supporting Govt supported jobs is hypocritical and ignoring the foundation of their illogic:

Siemens Lays Off 38% of US Workforce – Cites Lack of Wind Power Support Romney Favors

That wind power jobs and installations in the US rise and fall in line with federal tax policy for the renewable energy source is solidly established,…

You’d think after decades of watching the “ups and downs”, and being tax experts (as all Big Multinationals are), some would learn to not play the game.  Problem is, profits are to be made when the Government either directly or indirectly manages a marketplace via tax policy.  And the writer of the post is surprised at this?  Mere youngster that thinks history starts with his birth.  However, he yammers onward:

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Notable Quote – Milton Friedman (on the occasion of the birth of this Nobel Prize winning economist)

What the market does is to reduce greatly the range of issues that must be decided through political means, and thereby to minimize the extent to which government need participate directly in the game.  The characteristic feature of action through political channels is that it tends to require or enforce substantial conformity.  The great advantage … Read more

Again,Elites are trying to get rid of Capitalism – but we can see it is not an economics system problem but a problem of morality

Every year, the Elites of the political, economic, and cultural worlds gather in Davos, Switzerland to talk about global ‘stuff’ – what’s trending, what’s wrong, and their global ways of fixing them what they believe is wrong – for the betterment of us all.  Hate to keep sounding like a broken record but even with the caveat that I will never be as successful as they have been, sometimes things to have to be pointed out.  Here’s what Davos founder Klaus Schwab said:

“We have a general morality gap, we are over-leveraged, we have neglected to invest in the future, we have undermined social coherence, and we are in danger of completely losing the confidence of future generations,” said Klaus Schwab, host and founder of the annual World Economic Forum.

“Solving problems in the context of outdated and crumbling models will only dig us deeper into the hole.

“We are in an era of profound change that urgently requires new ways of thinking instead of more business-as-usual,” the 73-year-old said, adding that “capitalism in its current form, has no place in the world around us.”

I am oft criticized by those that don’t like that I keep things black and white; I rather think that I’m bringing things down to basic principles.  In this case, it’s necessary.

Let’s pull it apart (and who’s this “we” bit, kimosabe?):

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Democrat’s Say The Dumbest Things

Uneployment lineThe current Democrat class war is like punishing the advantage of literacy to pay for the economic misfortunes of people who refuse to learn how to read or simply do not read well.  People whose only fault is having succeeded are somehow responsible for people who have not.  And the Professional Left (and their amateur useful idiots)  will go to any length to make the point, reinforcing the popular right wing adage, "Democrat’s do say the dumbest things."

Take Merrimack’s political village idiot, Fred Morse.  In this mornings Sunday News Morse, who carries the lefts water in the print news at every available opportunity, made the following statement.

If there were any verifiable data that the richest were actually job creators in any substantial sense, that would be the lead story of FOX News every single night of the year.  So when someone says that the idle rich are job creators, they are either misinformed or attempting to mislead the public.

I’m not sure if FOX actually uses the words ‘Rich people create jobs’ (I don’t typically watch any television news) but I’m reasonably sure they talk about business, finance, markets, capitalism, investments, and all their productive and beneficial side effects.  These are the mechanism for creating wealth and for creating jobs.  So not only are they (FOX) talking about it, the very existence of jobs proves the point; that investment of time and money by free people creates jobs and that by extension people who chose to create jobs by starting a business can become wealthy.

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Two Dick’s & Obama’s Vitamin Police

Long story short, if the regs went into place the vitamin shelf at the store would be emptied until supplement makers submitting test results to the FDA and the products were approved. And the added for battling the bureaucracy and testing regime? You’d be paying that when they products went back on the shelf, if they did.

Bernanke’s Bender

Bernanke sober- or so it seems(Note:This arrived in my mail box unattributed, but I have discovered that it is from The Onion.  I have edited any questionable language by replacing letters with asterisks.  This image is not associated with the article at The Onion.)
 
SEWARD, NE—Claiming he wasn’t afraid to let everyone in attendance know about "the real mess we’re in," Federal Reserve chairman Ben Bernanke reportedly got drunk Tuesday and told everyone at Elwood’s Corner Tavern about how absolutely f****d the U.S. economy actually is.
 
Bernanke, who sources confirmed was "totally sloshed," arrived at the drinking establishment at approximately 5:30 p.m., ensconced himself upon a bar stool, and consumed several bottles of Miller High Life and a half-dozen shots of whiskey while loudly proclaiming to any patron who would listen that the economic outlook was "pretty goddamned awful if you want the God’s honest truth."
 
"Look, they don’t want anyone except for the Washington, D.C. bigwigs to know how bad shit really is," said Bernanke, slurring his words as he spoke. "Mounting debt exacerbated—and not relieved—by unchecked consumption, spiraling interest rates, and the grim realities of an inevitable worldwide energy crisis are projected to leave our entire economy in the sh****r for, like, a generation, man, I’m telling you."

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Progressive Trade Rules

Being beholden to unions causes you to say and do stupid things.  Take Carol Shea-Porter for example.  She was against a trade deal with Panama because she claimed it would cost American jobs, when it would actually open up trade from us to them–they already had unfettered access; result?–it would have created American jobs. Provisions … Read more

Destroying The Future Of America

Image Credit: Mattox Firearms school.comDemocrats continue to insist that they created jobs.  To do this they extracted trillions from our economic future in an effort to create jobs that did not yet exist–that perhaps were  not needed yet.  Looking at similar exercises, cash for clunkers–which moved car sales forward a few months but has since resulted in a collapse in the market; the home mortgage bail outs, supports, credits, and the "home affordable" programs which improved home sales briefly but which have since collapsed (also to historic lows); and then there’s the stimulus, several public sector employee bailouts, bank lending infusions, small business bills, and everything in between including health care reform–many trillions spent, all made with claims that they would create, save, or incentivize job creation.

Lets concede the possibility that some jobs were saved or created with money from the future.  Let’s also, for academic purposes,  concede the number of 1.4 million-3.3 million jobs saved or created ( quote from Paul Hodes campaign if that matters).  What happens now?  Even if we can agree to these figures the mathematical reality is that despite these efforts, and at great expense, we still lost more jobs than we saved or created.  Millions are still unemployed with hundreds of thousands more people working less, working shorter hours, or who have given up looking altogether just in the 12 months since someone declared the recession over.  We got a net sum loss with the price of admission, and that debt is now looming over our ability to sustain or improve the job picture moving forward because of the Faustian fiscal political calculation the democrats made in what now appears to be a series of vote getting scams gone horribly wrong.

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What About Bob?

What About Bob?Congressional Candidate Bob Bestani is what you might call a well-connected ruling class insider.  He has spent years as part of the evil international banking community and he is proud of his work for the Asian Development Bank (ADB).  According to his Campaign site Bio

Until May of 2008, Bob served as the Director General of Private Sector Finance at the Asian Development Bank, a multilateral bank dedicated to alleviating poverty in Asia. In the six years in which he served in that capacity, ADB’s private sector financings and earnings grew by over 40 times their 2001 levels, while portfolio quality and earnings steadily improved. Working closely with most of the countries of Asia, the Private Sector Department grew from the smallest of ADB’s departments to the largest and most successful operating unit of the ADB. In March of 2008 the Bank’s Board adopted private sector financings as the leading priority of the ADB for the years ahead.

So what’s the big deal?  Bob worked at a major international bank that is dedicated to alleviating poverty?  Well it seems to me that if you are going to use alleviating poverty to advance your political credibility people deserve to know the potential downside of how that actually plays out in the real world.

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Choices – by YOU and ME, or by Big Govt?

Professor Arthur Brooks started out as a liberal teaching at Syracuse University – and started to change his views when his data that formed the core of his book ""Who Really Cares-The Surprising Truth About Compassionate Conservatism"" showed that the liberal mantra of "we care for the poor – conservatives are the cold hearted ones!" turned out to have flaws and hidden problems (normally taken as "conventional wisdom") whose results hindered rather than helped.  In fact, he was one of our first guests on Meet The New Press back on December 2, 2006:

MEET THE NEW PRESS

Hosted by Granite Grokers Doug Lambert and Skip Murphy, along with Patrick Hynes of AnkleBitingPundits. We have an excellent lineup scheduled for today’s program…
 

=====================================================================

Guest: author Arthur Brooks
Conservative values make them more charitable than the libs

As always (and if Skip escapes Chicago) the podcasts will be ready within a day or so, and available on the GraniteGrok podcast page here.

The podcast with Dr. Brooks is here:

But I digress.  Dr. Brooks has a new book out that a lot of people are talking about due to the topic AND the current political climate "The Battle: How the Fight between Free Enterprise and Big Government Will Shape America’s Future"

He was interviewed by Reason’s Nick Gillespie on this:

The longer version of the interview (about an hour) is after the jump…

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“Jobs created OR SAVED” – Such a meme!

Saved or Created  vs.  Killed or Thwarted ?

Certainly, the first (Saved or Created) is what the Obama Administration has been talking up since the inauguration.  Sure, one CAN figure out when a new job has been created (although the Census job hiring / firing process certainly seemed to have monkeyed with the numbers with the rumored hiring people, firing them a few days later, and then re-hiring them with a bit different job). The absolutely insane measurement of "jobs saved" is completely insane and has been debunked several times.

However, I think this post that brings up a new meme:

Jobs Killed or Thwarted

that may well give the Right a chance to fire back – especially when unemployment has continued to be well above that promised by Obama if the Porkulus was passed and that the ONLY reason why it isn’t higher is that so many workers have just simply dropped out of the workforce.  And with the news that the private sector has $1.8 Trillion sitting on the sidelines, Caroline Baum writes:

When I heard last week that the White House would be announcing the number of “jobs created or saved” as a result of the 2009 American Reinvestment and Recovery Act, my first reaction was embarrassment.

Imagine how Christina Romer must feel. The chairman of the President’s Council of Economic Advisors was dressed in a cheery, salmon-colored jacket, a complement to the upbeat news she had to deliver on July 14. The $787 billion stimulus enacted in February 2009, which subsequently grew to $862 billion, increased gross domestic product by 2.7 percent to 3.4 percent relative to where it would have been, and added anywhere from 2.5 million to 3.6 million jobs compared with an ex-stimulus baseline.

“By this estimate, the Recovery Act has met the president’s goal of saving or creating 3.5 million jobs — two quarters earlier than anticipated,” Romer said with a straight face. (More than 2.5 million non-farm jobs have been lost since ARRA was enacted in February 2009, all of them in the private sector, according to the Bureau of Labor Statistics.)

And then the post goes on to describe that the numbers come strictly from computer modeling.  The money line, however, is this:

“If the administration wants to take credit for ‘jobs created or saved,’ it should also accept responsibility for ’jobs destroyed or prevented,’” said Bill Dunkelberg, chief economist at the National Federation of Independent Business. 

A politician not taking credit for downsides?  Oh, just slap me for my impertinence!

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