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Entries in Economy (180)

Saturday
Jan112014

Testerman For US Senate - Our Economy is Treading Water 

CONCORD, NH - Karen Testerman, Republican candidate for the United States Senate, commented on the recent jobs report for December.

"The Obama-Reid-Shaheen economy is weak," Testerman said.

CNN reports:

"We're going to have a long-term unemployment crisis for a long time," said Heidi Shierholz, economist with the Economic Policy Institute. "Even if we did have 200,000 jobs a month, we would need five years to get [to a pre-recession job market -- when unemployment was below 5%," she said.

"We need to grow our economy faster to out-pace those who are wanting to enter the workforce," Testerman said. "That means not increasing regulations or effective tax rates on businesses--where jobs come from--and repealing oppressive regulations and taxes on businesses. A flatter, simpler tax on businesses and individuals would spur real economic growth like many of the years we have had in recent decades, but which Barack Obama and his fellow Democrats have not be able to produce."

Saturday
Nov092013

ALG - 932,000 disappear from labor force in a single month 

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Nov. 8, 2013, Fairfax, Va.—Americans for Limited Government President Nathan Mehrens today issued the following statement

"I hope that the jobs data reported by the Bureau of Labor Statistics is wrong, because if it is not, almost one million people abandoned the labor force in October.  This is not due to any short-term government shutdown, but a wholesale loss of hope that Americans have a future in the U.S. economic system.  To put this into perspective, there has not been this small of a percentage of people participating in the labor force since 1978. It is hard to imagine a more devastating report on the state of the current economy.

"Almost one million Americans gave up on the American dream.  The implications of this simple fact are unfathomably bad.  Let's hope this report is an aberration, because if it is not, our nation is in even deeper trouble than anyone had imagined."

To view online: http://getliberty.org/932000-disappear-from-labor-force-in-a-single-month/

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Americans for Limited Government is a non-partisan, nationwide network committed to advancing free market reforms, private property rights and core American liberties. For more information on ALG please visit our website at www.GetLiberty.org.

 

Saturday
Nov092013

ALG's Daily Grind - Are American consumers tapped out?  

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Nov. 8, 2013

Are American consumers tapped out?
The last three quarters GDP has increased even while personal consumption has slowed down. Consumer spending is usually thought to drive economic growth, not run contrary to it. So what gives?

Cartoon: The crook
Has Obama been telling the truth to the American people?

The report of 2013 United States wildfires is 'greatly exaggerated'
Wildfires in 2013 are down 20% from 2012, and less than half the number and acreage burned than in 2006.

NWITimes.com: Indiana Senate leader working toward U.S. constitutional convention
"The leader of the Indiana Senate has invited lawmakers from every state to join him Dec. 7 at Mount Vernon, George Washington's Virginia home, to discuss the state-led process for crafting amendments to the U.S. Constitution."

Tuesday
Apr092013

LessGovernment - You Can Have a Big Economy, or a Big Government - Not Both

http://bit.ly/ZvFz1d

President Barack Obama has for five-plus years said and done two contradictory things regarding the United States’ economy.

1)  He has repeatedly said that he wants the private sector to recover – and indeed thrive.

2)  He has repeatedly, dramatically grown government – in terms of spending, laws, regulations and taxes.  And rigidly insists that he be allowed to continue to do all of it.

 

But a Big Economy and a Big Government are mutually exclusive.

 

The wasteful federal government creates zero wealth.  Every penny it spends is at the expense of the productive private sector.  The former can only spend what it first takes from the latter – via taxation, or borrowing.

 

The more government taxes and borrows, the more limited the private sector is in its attempts to grow.  And expand the economy, hire people – and pay more taxes.

 

And the more time businesses spend complying with laws and regulations – including learning new ones – the less time they have to try to grow, expand the economy, hire people – and ultimately pay more taxes.

 

The wasteful federal government is draining the productive private sector of operational capital – and drawing its time and attention away from more worthwhile activities.

 

Imagine a tick that – in addition to bleeding the deer – can tell its host where, when and how it can move.

 

And the concern for an activist state continuing its over-activity freezes the private sector in amber – afraid to move, in dread anticipation of the next government anvil to fall.

 

So does President Obama want a Big Economy – or a Big Government?  The answer is best embodied in what he has done to the Internet.

 

Existing law prior to the Obama Administration left the Internet pretty much alone.  As always happens when the government removes itself, the Web has rapidly grown into a free speech-free market Xanadu.

 

Technology Sector Found to Be Growing Faster Than Rest of US Economy

 

Then came President Obama.  Who – despite the legal proscriptions and without any Congressional authority to do so – unilaterally imposed a host of new Web regulations.

 

The biggest being Network Neutrality – which places the government in charge of the entire Internet backbone.

 

Net Neutrality could lead to the loss of 1.5 million private sector jobs.  It will raise the cost for each and every consumer by about $55 a month.  Because it will raise Internet Service Providers (ISPs)’s costs by $20 to $40 billion per year.

 

It is egregiously damaging to continued investment – meaning the Web will slowly decay and deteriorate, rather than continue to rapidly improve and grow.

 

Not satisfied with that destruction, the Administration also imposed data roaming regulations.  Which require the companies who spend the tens of billions of dollars necessary to build their wireless networks to rent them to those that don’t.

 

Which raises a question: Why would any company spend said tens of billions of dollars, when they can just wait around for someone else to do it and then have the government force them to share?

 

Which raises a problem: If everyone is sitting around waiting for everyone else to build said networks, there’s a whole lot of nothing going on.

 

The Administration has done even more to derail the Tech sector – but you get the gist.

 

So too do you get that President Obama much prefers a Big Government to a Big Economy.

 

Because with the Internet, he inherited the latter – and has time and again insisted on imposing upon it the former.

Wednesday
Mar062013

AmericanPrinciplesProject - Coolidge and the Path to the Majority 

Dear Monetary Policy Observer,

Can Republicans benefit from 1920s economic policy?  This latest Forbes.com article by Ralph Benko makes the case while critiquing a new book on the Presidency of Calvin Coolidge, who he argues was a successful force behind “the right’s first sweeping counterrevolution against liberal Republicans.”  He also points out a possible link between the stigma often attached to Coolige’s legacy and the economic time bomb set by a monetary conference in the early 1920s.  We hope you find this material of interest.

_______________________________________________________

Calvin Coolidge's Life Offers The Republicans A Path Back To The Majority

Ralph Benko

Amity Shlaes, one of America’s most interesting and influential public intellectuals, has just published Coolidge, a biography of that laconic president.  It is meticulously researched, and compellingly written, and of this writing residing on the New York Times nonfiction bestseller list at Number 6.

This book’s prominence appears due less to its exploration of an enigmatic historical personage than to its high relevance to the political wars that rage today.  Reviewing Coolidge for the New York Times Book Review, Jacob Heilbrunn, a senior editor at The National Interest, nails the key significance of this book (while taking issue with some of its conclusions):

“What makes Coolidge a fascinating character, however, aren’t his bromidic phrases and vapid homilies, designed to reassure a public unsettled by rapid social and economic change; or his loyalty to his vivacious wife, Grace; or his taciturnity or any of his other personal qualities. Rather, it is that he represented the right’s first sweeping counterrevolution against liberal Republicans in a battle that continues down to the present.  [Emphasis added.]

Disaster was barreling down upon the United States, and world, economy.  Offstage (and thus properly excluded as a topic of Shlaes’s book) world monetary policy had gone awry.   The pre-war gold standard had been replaced by its evil simulacrum, the “gold-exchange” standard, at a monetary conference as obscure as it proved epochal, held in Genoa, Italy, in 1922.   It was a ticking time bomb.

Few grasped (or yet grasp) the enormity of the time bomb that had been embedded into the world economy with this policy.  One of the few, Prof. Jacques Rueff, wrote of the gold-exchange standard, in The Monetary Sin of the West (The Macmillan Company, 1972, 1971, pp. 23-24):

“[T]he gold-exchange standard brought about an immense revolution and produced the secret of a deficit without tears. It allowed the countries in possession of a currency benefiting from international prestige to give without taking, to lend without borrowing, and to acquire without paying.

“The discovery of this secret profoundly modified the psychology of nations. It allowed countries lucky enough to have a boomerang currency to disregard the internal consequences that would have resulted from a balance-of-payments deficit under the gold standard.

“It was the outcome of an unbelievable collective mistake which, when people become aware of it, will be viewed by history as an object of astonishment and scandal.”

Coolidge barely escaped Genoa’s detonation and demolition of the world financial order.  Yet his escape was not quite complete.  His reputation was tarnished by a suspicion, or perhaps just convenient partisan claim, that the Depression somehow derived from Coolidge’s economic policies.  The Coolidge administration, sandwiched between Genoa and Black Monday, had nothing to do with  causing the Great Depression.  Its cause derived, directly, poorly understood (both then and now), from Genoa.

Read Full Article Here: http://www.forbes.com/sites/ralphbenko/2013/03/04/calvin-coolidges-life-offers-the-republicans-a-path-back-to-the-majority/