Stories about how China’s economy will soon surpass that of the U.S. should not be taken at face value. This is China’s economic stimulus project. This is what a government stimulus project is. A government stimulus project is when the government takes money and resources from the private sector and uses it to make and build things for which there is no genuine demand. Our American stimulus is of the same essential character. Ours is just a little more modest in scale.
Here is a nice article from Niall Ferguson about the choice the American Government will make on our behalf in the near future: Raise taxes and/or cut government. Thomas E. Woods has argued that raising taxes will not solve the problem. There will have to be copious cutting.
With juries like these, who needs dictators? Read the rest of this entry »
Links for Monday, June 20: China’s Economic Stimulus; Ludicrous RIAA Damages; What about NPR?; others…April 17, 2011
The case for private road management is not that difficult to follow.
For now, though, Harper’s verdict remains in place: $750 for each of the 37 songs at issue, or $27,750.
Good reporting from Mother Jones today, this one from its facebook wall: Fiji’s government junta destroys one of the counrty’s most popular exports through taxation.
Bainimarama said if no resolution is forthcoming, he “will call for international tenders from credible and reputable private sector companies to extract this valuable resource.”
We’ll see about that….
White truffles [were on display last Sunday] during the traditional annual truffle auction in Alba, northern Italy, where a 900-gram white truffle was auctioned for €105 million ($143.58 million) to a Hong Kong buyer.” (Global Times, 18 November)
Willing seller, willing buyer. The poor, huddled masses will have to settle for green giant mushrooms, sliced and canned.
Granted the auction proceeds were for charity, but what other food can bring in so much money and attention? What is it exactly that makes the white truffle so special?