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?
Links for October 11, 2010: Big Brother is Watching, Monopoly City Fire Company Watches House Burn, others….October 10, 2010
- World Socialist Party (US) | Making Bread
Daryl Larson, who farms 1,500 acres in Kansas sold nearly half of his wheat crop but will keep the rest in the silo in the expectation that the prices will at least climb further. Most analysts would concur with Mr Larson’s strategy of holding on to some grain for added profit. The [Socialist Party of Great Britain] only asks: why do some in this world face destitution and hunger, while others hoard food to obtain higher profits?
Farm subsidies complicate the issue, but the simple answer is: Daryl Larson, the producer of the food, has the perfect right to do anything he pleases with it. He was under no obligation to make the food. Similarly, he is under no obligation to distribute the food. If Mr. Larson were forced to sell his grain at prices he did find agreeable, he probably not stay in the wheat business for very long.
If we added farm subsidies into the mix, then, depending on why the subsidies were paid in the first place, there could be a basis upon which to demand that Mr. Larson make some concessions to taxpayers….
- AFL-CIO NOW BLOG | Public to Lawmakers: Tax the Rich1) Aren’t you glad that the public has no authority to confiscate and redistribute your private property?? 2)Never trust anyone who classifies tax cuts as ‘spending’. 3) This article quotes labor secretary Robert Reich who believes that the ‘fundamental cause’ of the financial crisis is wealth disparity. If not for wealth disparity, the argument goes, Americans would not have needed to borrow so much. I’ve never heard this one before… Read the rest of this entry »