Friday, March 24, 2017

Our Economy 2

If this proves true then it is a dire prediction for everyone.

Amazing the venom coming out of the mouths of uninformed radicals who think they are the worlds most important citizen.

This item deals with Trump's business friendly impacts on the national and world economies.   Democrats can demagogue but facts are facts and the facts are sounding awfully good.

This is an important assessment.  Paul Craig Roberts, former Assistant Secretary of the Treasury, says that Trump is dismantling the fascist corporate/government partnerships that have been cropping up with trade deals such as NAFTA.  His question is how long will power brokers in big corporations go along with this erosion of their power.  Quote: "Because of the globalist propaganda, Americans have forgotten that the strength of their economy was domestically-based. The development of the US economy was never based on foreign trade. It rested firmly in the rise of consumer spending power from America labor receiving the bulk of the productivity gains. What jobs offshoring did was to transfer the income gains from productivity to corporate profits by underpaying Asian labor. It was easy to pay Asian labor less than labor’s contribution to profit, because of the immense excess supply of Chinese, Indian, Indonesian, and other labor. When labor is plentiful and jobs are scarce, labor goes begging. Even today the Chinese and Indian labor forces are under-employed. The only way American labor can compete is to accept a wage below the US standard of living.  Trump understands this, just as did Ross Perot and Pat Buchanan.  Ross Perot was a billionaire; yet he stood up for ordinary working Americans. Yet, the left says all billionaires are evil. "

This item reinforces previous ones.   And this was Obama's 2016 gift to America - a net loss of 1 trillion dollars.  That is a burden he knowingly and willingly placed on the backs of American taxpayers.

Problems with the banking industry is a major issue Trump must take on.  This item discusses that matter.  Quote: "Enter Donald Trump. Before we jump down this rabbit hole, keep this disclaimer in mind: it is too early to say exactly how Trump’s policy will manifest. It still has to get through Congress, so the details have to be considered as fluid.  The major point of the plan, though, is to reduce the cost of regulation for small and mid-sized banks. It’s important to note that the goal is not to eliminate the regulation. Trump simply wants to minimize how much banks are being charged for their own oversight."

Bernie Sanders does not have even a limited understanding of economics.  Here is proof.   This is the socialist view held by Obama, Hillary, Bernie and a whole lot of leftists.  They have not learned the recent lesson that the collapse of Venezuela should have taught them.

Marc Faber says now is the time to get into gold and silver. I am not recommending any investment sources, just sharing thoughts from someone who has a good record of investment forecasts.

Obama's labor rules and regulations did much harm to our economy.  Here are some facts.  Quote: "During the eight years of the Obama administration, the DOL imposed $55.7 billion in total finalized regulatory costs and added nearly $70 million in paperwork burden hours, according to Regulation Rodeo, a project of the American Action Forum.  There is a lot of work to do in order to reverse the overreach and overregulation at the Department of Labor. But there is hope. President-elect Donald Trump has nominated Andrew Puzder, CEO of CKE Restaurants, who understands what causes job creation—pro-market policies—and what doesn’t—heavy-handed government mandates."

More bad news as a consequence of the $15 minimum wage.   Liberals seem not understand basic economics as illustrated by their belief that establishing arbitrary wage rates independent of business operational costs is irrational on its face.  There are consequences.  Read this.

This economist offers the reason why Obama's economic recovery never happened.   More evidence that Obama economic policies were a total failure.  He is the only president who never had a year of 3% GDP growth.

I agree with this esteemed economist's assessment of the respective intellects of Obama and Trump and his assessment that it will take a long time to undo the damage Obama has done to the country.

Many people support both the notion of a minimum wage and/or a living wage.  They fail to understand both economics and human behavior.  Take a look at this piece to gain insight into this issue.   Quote: ""In short, what the living wage is really about is not living standards, or even economics, but morality. Its advocates are basically opposed to the idea that wages are a market price - determined by supply and demand, the same as the price of apples or coal."  Minimum- and living-wage proponents also support equal pay for men and women. By doing so they make inconsistent arguments. On the one hand, employers are so cheap and greedy that they would pay virtually nothing for labor if the government did not force their hand.  On the other hand, the same greedy employers are happily overpaying men who, according to the equal-wage activists, are being paid more than women for doing the exact same work. Why a greedy employer would both underpay and overpay at the same time is never explained. What does this tell you?" 

Government is truly the enemy of small businesses (including small family farms).  They lose out to big businesses with both their massive funding resources and their lobbying influence over lifetime politicians.  Its called crony capitalism which is a far cry from free and open competitive capitalism.    Read this to learn first hand the consequences of most foolish government oppressive regulations that benefit a few and screw the many.

George Burns

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