The solution to unemployment, college expenses, the debt and the deficit is not found in another government program. It is found in less government programs. It is not found in another hand-out from the government. It is found in the American people. It is found in the American character — resilience, hope, determination, perseverance.
The argument against the Chinese model is the strongest because it is both economic and moral. Stern isn’t calling for a change in economic systems, rather a political change. A change from the republic our Founders created to an authoritarian regime that controls a quasi-capitalist market. We already have the capitalism, Stern wants us to adopt the authoritarianism.
In June and July “economists” and the Fed told everyone to watch out because of a “deflation risk.” Then suddenly, before you could say “Ben Bernanke” everyone is worried about the Fed and their warning of coming inflation. “[I]nflation surely remains a more serious danger than deflation.” Said George Melloan with the Wall Street Journal. […]
President Obama officially announced that that United States will be pulling out of Iraq on August 31 in the Oval Office. But in his speech he seemed to have confused goals and ideas. Both in his address’ to the troops at Fort Bliss and in the Oval Office, he stated that the war in Iraq […]
The era of procrastination, of half-measures, of soothing and baffling expedients, of delays is coming to its close. In its place we are entering a period of consequences.” -Winston Churchill While this quotes context pertained to the days shadowing WWII, it still applies to the U.S.’s unsupportable spending and racking debt. A period of consequences […]
The economic trends at the beginning of the year could be called “promising” and current trends could be looked upon as “not-so-great.” Some still find hope that the economy will soon recover, but when recent trends are compared with ones during the Great Depression it gets a little too close for comfort. Last Friday stocks […]
“The economy is back!” They proclaimed in May. “Not so,” was the resounding reply. Many in Washington (D.C.) boasted about jobs growth saying that in May 431,000 jobs were created. The problem is that 411,000 of those jobs were temporary government jobs (Census workers.) And that left only 41,000 jobs made in the private sector […]
Politics. What a nasty word these days. I’m sure we’ve all heard about the oil spill in the Gulf of Mexico from one of BP’s rigs. You’d almost have to live in a cave not to hear the media ranting and raving. But the media only tells one-third of the story. Before we delve further […]
“Inflation Hits 44-year Low” read the recent headline. The problem: 44 years ago the U.S. had high inflation. Brian Domitrovic’s book Econoclasts: The Rebels Who Sparked the Supply-Side Revolution and Restored American Prosperity (2009, ISI $27.95) is an excellent introduction to historical economic situations from 1913-1990. Domitrovic goes through the problems, and the solutions (working […]