Commentary
« Previous EntriesThe Purpose of Economic Activity
Sunday, August 22nd, 2010The purpose of economic activity is to create wealth. It is not to create “jobs”. It is not to redistribute wealth. It is not to pad statistics, such as GDP. It is not to create winners and losers. It is to create only winners.
Bringing manufacturing back to the United States from other, lower labor cost [...]
Capitalism vs. Consumerism
Monday, June 14th, 2010“Income redistribution” or “spreading the wealth” has enormous consequences beyond the simple transfer of wealth from one segment of society to another. Those who advocate such government policies attack the traditional values of Americans. But they also damage the basic system by which wealth is created.
Until recently, taxes were viewed as the price paid for [...]
Are you an Idiot?
Saturday, June 5th, 2010In 1960, I would work all week for $50 - about 50 hours. Back then, before the US Gestapo became so powerful and intrusive, I could work for cash, with no taxes withheld or paid. I worked 50 hours, earned $50, and received $50.
In 1960, I was pretty frugal. I needed money to live on, [...]
Educational Standards
Friday, April 9th, 2010The plea of some industry leaders in the U.S. for common educational standards smacks of more central planning and attempts to turn children into products of assembly line processes.
Yes, we need better education in this country. No, the answer is not more standardization. That does not mean we don’t need standards. We need individual standards [...]
What Should I do with My Money?
Sunday, March 14th, 2010What should I do with my money? Interest rates are low. Inflation is low. Should I be investing in stocks? How about bonds? Money market funds? Bank CDs? Real estate? Precious metals?
I have very strong opinions about these questions. First, it is difficult to answer these questions without facts, and the “facts” being supplied by [...]
U.S. Post Office
Monday, March 8th, 2010The U.S. Post Office recently announced it was considering eliminating Saturday service. Why? Budget problems. It is losing money.
The U.S. Post Office is not a private company. It was established by the U.S. Government and remains controlled by the U.S. Government. Why is that an important distinction? For the answer, let’s explore the budget problem [...]
Political Speech
Friday, January 22nd, 2010The Supreme Court has ruled that corporations and unions are entitled to their First Amendment rights just like individuals. They have the right to support political candidates during elections.
Some are appalled by this ruling, believing this opens the door to political domination by large corporations. They advocate restrictions on corporations during elections so that they [...]
Mass Loss of Confidence
Wednesday, January 20th, 2010Yesterday’s Massachusetts vote for senator is being interpreted as a victory for the Republican Party. I have a different view.
I see the Massachusetts vote as a lack of confidence in government. I see the vote as a rejection of policies that don’t make sense to the American public. I see the vote as a rejection [...]
It’s Not the Fed’s Fault
Saturday, January 9th, 2010As analysts try to describe how we got into this financial mess, policies of the U.S. Federal Reserve Bank are frequent targets. The Fed held interest rates too low for too long, encouraging the explosion of debt, and encouraging those who borrowed money to bid up asset prices, including technology stocks in the 90s and [...]
The Freedom Delusion
Thursday, December 31st, 2009The word “freedom” is tossed around freely in the U.S. Our military exists to defend our freedom. We fought wars in defense of freedom. Our politicians say they are protecting our freedom. International diplomacy is conducted with the objective of maximizing freedom throughout the world. Founding documents, establishing the United States, make freedom the highest [...]
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