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Following last February's shooting at Marjory Stoneman Douglas High School in Parkland, Florida, some students claimed local government officials were at fault for failing to provide protection to students. The students filed suit, naming six defendants, including the Broward school district and the Broward Sheriff’s Office , as well as school deputy Scot Peterson and campus monitor Andrew Medina.
XXReport.com enables all investors to copy in percentage details our investment portfolio. Our eBooks with published dates prove our future clients that our investment performance is genuine, and repel every socialist attack claiming that it is not real. Get instant access to our investment portfolio by clicking this link.
Rising Prices Reflect Inflation Not Growth
Joseph Salerno explains what it means inflation, and how it affects the economy. XXReport.com enables all investors to copy in percentage details our investment portfolio. Our eBooks with published dates prove our future clients that our investment performance is genuine, and repel every socialist attack claiming that it is not real. Get instant access to our investment portfolio by clicking this link.
Joseph Salerno explains what it means inflation, and how it affects the economy.
The day when voters choose politicians. Politicians never admit the harm they caused by legislation, taxes, rules, regulations and all the other actions. It's always the talk of how allegedly they help the people. All their past supposedly favors to the people are mentioned. On top of that fear is used. Politicians warn people about other political parties. Politicians sell themselves like whores and promise many favors to the voters if elected. Of course, they cannot please all the voters. What they mean is we are going to steal money from the majority to satisfy certain groups or individuals within the voting population through all kinds of government programs. Tariffs are an example of such favors. They generate additional costs to producers and consumers, yet somehow it is better if voters pay higher prices for goods or services. They harm the majority while are benefiting only a fraction of the population. I don't attack Donald Trump as I don't see him worse than Obama or Clintons. Anyway, how are we winning the trade war with China? The trade deficit is much higher today than in the past when Trump was elected. I don't even mention the budget deficit which goes through the ceiling and roof to space. I guess we will need the space force mentioned by Donald Trump to find both of these deficits. Why such policies as tariffs and numerous others are politically popular if at the end the consumer is required to pay more for goods and services. Economic science is prone to errors as individuals chase their interests. Selfish interests make people believe in a version of economics good for him/her but bad for the overall population. Food stamps might be good for one group of people and damaging to other groups. The same rules apply to tariffs, minimum wage, public schools, social security, agriculture subsidy, banks bailouts, wall street bailouts, general motors bailout and thousands of other government activities. It is ridiculous what you can get people to believe with lobbying campaigns, and it can happen only with the help of politicians and government. People have some economic interests equal with those of other people. Additionally, certain groups have interests antagonistic to the rest of the population. Of course, many economists associated with certain groups praise policies desired by their supporters. Politicians usually say their actions are beneficial to everyone. The job of an economist is to consider whether policies attain the ends marketed by those who favor it. The truth is that most of the actions of politicians harm nearly everyone and benefit only a few. You do not want to believe me? You don't need to listen to me. You can listen to Ludwig von Mises, Murray Rothbard, Milton Friedman, or Friedrich von Hayek. What is the solution and what is good economics? How can we all poor, rich, or middle-class have a higher standard of living? The answer is the free market economy, but we will write more about it in our future articles. XXReport.com enables all investors to copy in percentage details our investment portfolio. Our eBooks with published dates prove our future clients that our investment performance is genuine, and repel every socialist attack claiming that it is not real. Get instant access to our investment portfolio by clicking this link.
Why Good Politics is Bad Economics
Accordingly, to the United States Department of the Treasury data released October 15, 2018, the federal budget deficit increased in the fiscal year of 2018 by 17% to $779 billion. The US lowered its corporate tax rate from 35 percent to 21 percent and reduced the income tax from 39.6 percent to 33 percent. These tax cuts took effect in January of 2018. Experts see these tax cuts as a reason for the increase in the deficit. The 12-month moving average of the deficit is $64.9 billion in September of 2018 versus $55.5 billion a year ago, and the chart below shows how the budget deficit widens. The increase in the budget deficit during times of economic growth can be terrible news once the recession appears. Experts claim that tax cuts will lower the budget deficit because it will boost economic growth, which will lead to better government revenues. The issue should be the size of the government and its outlays. How are we going to lower taxes while we have a big government which is not willing to reduce its outlays? The government is not generating prosperity and wealth. It needs to tax the private sector to fund its activities. The government can only pay its employees by taking resources from the wealth-generating private sector. Through excessive taxation of businesses and employees, the government undermines genuine economic growth. The private sector has to fund every government plan or any investment, and by doing it, the real wealth is allocated to government activities. If the private sector infrastructure is not able to handle too many governments actions, then it puts too much pressure on the pool of real wealth. It leads to the weakening of economic growth. The solution to support economic growth is to have lower taxes accompanied by the lowering of government outlays. The US government lowered its corporate tax rate and reduced the income tax? The ideal solution is to abolish the income tax altogether and to make the government small. We will see the impact of tax cuts in 2019 as Americans in 2018 were filing tax returns for 2017. The chart below is not indicating that the Trump administration plans to curb government spending. A deficit means that the State promises to tax in the future. The government spending expansion acts like a black hole which sucks in wealth and prosperity. Investment Portfolio Management - Peace, Love, Freedom, The Austrian School of Economics, And The Free Market!
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"Ideology of crypto is right wing white supremacist 'black helicopters' paranoia...Crypto has been able to combine libertarian zealotry with fascist racist ideologies..."
Nouriel Roubini’s 1991 Testimony to Congress About the Mobile Phone Bubble HAHAHAHA
Portfolio Management - Peace, Love, Freedom, The Austrian School of Economics, And The Free Market!
Portfolio Management - Peace, Love, Freedom, The Austrian School of Economics, And The Free Market!
JP Morgan already hoarded 750 million ounces of physical silver. On top of that JPM adds another 21+ million ounces in the past one and a half month. Peace, Love, Freedom, The Austrian School of Economics, And The Free Market!
Peace, Love, Freedom, The Austrian School of Economics, And The Free Market!
He was talking about practice – but the trades and the millions of dollars of profit were real.
The Free Market VS Big Government
Country Time Lemonade to help pay fines, permit fees for kids' lemonade stands. The Free Market vs the state.
The United States of America: 10% Inflation, 22% Unemployment, And Weak Economy
Every time the mainstream media touts some “wonderful new economic numbers” I just want to cringe. Yes, it is true that the economic numbers have gotten slightly better since Donald Trump entered the White House, but the rosy economic picture that the mainstream media is constantly painting for all of us is completely absurd.
As you are about to see, if honest numbers were being used all of our major economic numbers would be absolutely terrible. Of course we can hope for a major economic turnaround for America under Donald Trump, but we certainly are not there yet. Economist John Williams of shadowstats.com has been tracking what our key economic numbers would look like if honest numbers were being used for many years, and he has gained a sterling reputation for being accurate. And according to him, it looks like the U.S. economy has been in a recession and/or depression for a very long time.
Let’s start by talking about unemployment.
We are being told that the unemployment rate in the United States is currently “3.8 percent”, which would be the lowest that it has been “in nearly 50 years”.
To support this claim, the mainstream media endlessly runs articles declaring how wonderful everything is. For example, the following is from a recent New York Times article entitled “We Ran Out of Words to Describe How Good the Jobs Numbers Are”…
"The real question in analyzing the May jobs numbers released Friday is whether there are enough synonyms for “good” in an online thesaurus to describe them adequately. So, for example, “splendid” and “excellent” fit the bill. Those are the kinds of terms that are appropriate when the United States economy adds 223,000 jobs in a month, despite being nine years into an expansion, and when the unemployment rate falls to 3.8 percent, a new 18-year low".
Doesn’t that sound great?
It would be great, if the numbers that they were using were honest.
The truth, of course, is that the percentage of the population that is employed has barely budged since the depths of the last recession. According to John Williams, if honest numbers were being used the unemployment rate would actually be 22 percent today.
So what is the reason for the gaping disparity?
As I have explained repeatedly, the government has simply been moving people from the “officially unemployed” category to the “not in the labor force” category for many, many years.
If we use the government’s own numbers, there are nearly 102 million working age Americans that do not have a job right now. That is higher than it was at any point during the last recession. We are being conned!
Next, let’s talk about inflation.
According to Williams, the way inflation has been calculated in this country has been repeatedly changed over the decades…
Williams argues that U.S. statistical agencies overestimate GDP data by underestimating the inflation deflator they use in the calculation.
Manipulating the inflation rate, Williams argues in Public Comment on Inflation Measurement , also enables the US government to pay out pensioners less than they were promised, by fudging cost of living adjustments.
This manipulation has ironically taken place quite openly over decades, as successive Republican and Democratic administrations made “improvements” in the way they calculated the data.
If inflation was still calculated the way that it was in 1990, the inflation rate would be 6 percent today instead of about 3 percent.
And if inflation was still calculated the way that it was in 1980, the inflation rate would be about 10 percent today.
Doesn’t that “feel” more accurate to you? We have all seen how prices for housing, food and health care have soared in recent years. After examining what has happened in your own life, do you believe that the official inflation rates of “2 percent” and “3 percent” that we have been given in recent years are anywhere near accurate?
Because inflation is massively understated, that has a tremendous effect on our GDP numbers as well.
If accurate inflation numbers were being used, we would still be in a recession right now.
In fact, John Williams insists that we would still be in a recession that started back in 2004.
And without a doubt, a whole host of other more independent indicators point in that direction too. The following comes from an excellent piece by Peter Diekmeyer…
“Williams’ findings, while controversial, corroborate a variety of other data points. Median wage gains have been stagnant for decades. The U.S. labour force participation rate remains at multi-decade lows. Even our own light-hearted Big Mac deflator suggests that the U.S. economy is in a depression. Another clue is to evaluate the U.S. economy just as economists would a third world nation whose data they don’t trust. They do this by resorting to figures that are hard to fudge. There, too, by a variety of measures—ranging from petroleum consumption to consumer goods production to the Cass Freight Index—the U.S. economy appears to have not grown much, if at all, since the turn of the millennium”.
In the end, all that any of us really need to do is to just open our eyes and look at what is happening all around us. We are on pace for the worst year for retail store closings in American history, and this “retail apocalypse” is hitting rural areas harder than anywhere else…
Of course it isn’t just the U.S. economy that is troubled either.
We are living in the terminal phase of the greatest debt bubble in global history, many nations around the globe are already experiencing a very deep economic downturn, and our planet is literally in the process of dying.
So please don’t believe the hype.
Yes, we definitely hope that things will get better, but the truth is that things have not been “good” for the U.S. economy for a very, very long time.