Can Lies Get Him Re-elected?

Recently President Biden did a sit-down interview with CNN’s Erin Burnett. She didn’t ask him any really hard questions, but she did ask about his current low standing in the polls. On Wednesday, Red State posted some highlights from the interview and also did some fact checking.

The article reports:

Burnett said that the polls showed that voters trusted former President Donald Trump more on the economy. She ticked off several problems with the Biden economy including the cost of buying a home which has doubled, real income is down, economic growth is down “far short of expectations,” and consumer confidence was at a “two-year low.”

“With less than six months to go until Election Day, are you worried you’re running out of time to turn that around?” she asked him. Biden looked out of it while she was talking, and his response was pure denial of reality.

…”We’ve already turned around,” Biden claimed falsely. He simply refuses to accept the facts, claiming the polling data “has been wrong.”

Bottom line? Trump is ahead in the polls, including in all the swing states. That’s what Joe can’t deal with.

…Then he straight-up lied and said that inflation was at 9 percent when he came into office.

In fact, inflation was at 1.4 percent when he came in and he helped to drive it up above 9 percent.

Recently President Biden blamed corporate greed for the inflation problem. What he fails to note is that corporations are in business to make money. It is not up to him to decide how much money corporations make. Generally speaking, the free market determines profit margins. If the government would get out of the way of the free market, they might see the beginning of a true economic recovery.

Priorities?

At a time when many Americans are struggling to make ends meet, I question how Congress is spending our tax dollars.

On Thursday, Breitbart reported the following:

Non-profit theater companies across the country would receive a $5 billion taxpayer-funded bailout under a new plan being promoted by a group of Democrats in the Senate. The proposed bailout comes as prominent stages are facing unprecedented financial crises following their embrace of woke identity politics, which has alienated audiences and donors.

Among the companies poised to receive the new federal dollars would be New York’s Public Theater, which staged the gruesome stabbing death of President Donald Trump in its infamous 2017 production of Shakespeare’s Julius Caesar.

Sen. Peter Welch (D-VT) is leading the way with the legislation, which is called the Supporting Theater and the Arts to Galvanize the Economy (STAGE) Act of 2024.

What about Americans who are facing ‘unprecedented financial crises’?

The article concludes:

The wave of unprecedented financial crises hitting prominent theaters comes as their far-left agendas continue to drive away loyal audiences and even some donors. Combined with Bidenflation that has caused their operating costs to soar, companies are facing catastrophic budgetary shortfalls and are resorting to layoffs and shutdowns.

Institutions hit hard by the perfect storm include The Public Theater in New York, Chicago’s Steppenwolf Theatre, the Mark Taper Forum in Los Angeles, the Lookingglass Theater in Chicago, The Artists Repertory Theatre in Portland, and the Oregon Shakespeare Festival.

I realize that theatre is an important part of culture, but movies and theatre need to consider what their audiences want to watch. What we are seeing here is the free market at work, and as usual Congress is attempting to interfere with free market forces.

 

Our Future With Extreme Environmentalists

On Monday, Just the News posted an article about energy prices in California. Obviously inflation combined with the curtailment of American energy production has caused energy prices to increase everywhere, but in California they have increased at double the rate of the rest of the country.

The article reports:

California’s energy costs are double the national average and increasing at double the national rate as the state pushes for reducing emissions to 40% below 1990 levels by 2030. The state’s energy regulator says energy costs are rapidly approaching the tipping point at which filling up a Tesla with electrons will cost more than filling up a Camry with gasoline.

With the state reducing emissions by an average of 1.5% per year since 2010, this rate would leave the state not reaching its emissions goal until 2047.

California energy costs 2.3 times the national average, with energy costs in the state increasing 10.9% over the past four years compared to 5.1% nationwide, according to an analysis by Radiant Energy Group of U.S. Energy Information Administration data. In some markets, consumers face even higher increases — in San Jose, average monthly energy bills rose from $121 in 2021 to $203 by the end of 2023, with increases from $152 to $220 and $113 to $138 in Los Angeles and San Diego across the same time frames.

The California legislature is dealing with this increase by instituting what can only be called a Marxist solution–equal outcome–not equal burden.

The article reports:

Due to the extremely high cost of California energy, the legislature ordered the California Public Utilities Commission to restructure energy bill surcharges for non-consumption costs to be based on household income. Under this plan, monthly fees to cover utilities’ normal costs outside of electricity consumption — such as power line maintenance and wildfire protection — would be charged to homes based on their household income. Both Republican and Democratic state legislators have come out with plans to repeal this order, suggesting the income-graduated fixed charge may be shut down before it takes effect on July 1.

I think we can safely say that the free market is dead in California.

Making Selling A Home Cheaper

On Friday, Yahoo Finance posted an article about a change in the commission rate that many realtors will make when selling a home.

The article reports:

The 6% commission, a standard in home purchase transactions, is no more.

In a sweeping move expected to dramatically reduce the cost of buying and selling a home, the National Association of Realtors announced Friday a settlement with groups of homesellers, agreeing to end landmark antitrust lawsuits by paying $418 million in damages and eliminating rules on commissions.

The NAR, which represents more than 1 million Realtors, also agreed to put in place a set of new rules. One prohibits agents’ compensation from being included on listings placed on local centralized listing portals known as multiple listing services, which critics say led brokers to push more expensive properties on customers. Another ends requirements that brokers subscribe to multiple listing services — many of which are owned by NAR subsidiaries — where homes are given a wide viewing in a local market. Another new rule will require buyers’ brokers to enter into written agreements with their buyers.

…By some estimates, real estate commissions are expected to fall 25% to 50%, according to TD Cowen Insights. This will open up opportunities for alternative models of selling real estate that already exist but don’t have much market share, including flat-fee and discount brokerages.

I have very mixed emotions on this. I support the change because I think it was needed in view of the inflation of house prices in recent years. A 6 percent commission on selling a house for $100,000 would be $6,000. Obviously some of that commission would be paid to the Real Estate Agency–the agent would not be able to keep the entire amount. According to Statista, the average price of a house sold in 2023 was &511,100. The real estate agent’s commission on the sale of that house would be approximately $30,000. I realize that the agent has expenses-a photographer to photograph the house, the cost of multiple listing, etc., but that seems high. I hope with this lawsuit, we will get back to more of a free market in real estate sales where the rate is competitive. I don’t want to see either a private or government monopoly determining real estate commissions.

The Attack On All Parts Of Our Food Supply

On March 4th, The Epoch Times posted an article about a raid by the Pennsylvania Department of Agriculture and the U.S. Department of Agriculture on an Amish farm in Pennsylvania.

The article reports:

In January, the Pennsylvania Department of Agriculture, in cooperation with the U.S. Department of Agriculture, raided the Amos Miller Organic Farm, a longtime members-only organic farm in Lancaster County. Government agents took possession of many tens of thousands of dollars’ worth of food that had been produced on the farm for family and friends, people who rely on this farm for high-quality products that avoid factory methods, chemicals, and industrial processes.

This is the kind of food that many people around the country would love to buy but cannot because of the industrial cartels that control production and distribution in this country. Residents of Amish country are wildly fortunate to have such options, particularly as it pertains to raw milk products, which are widely considered to be more nutritious and delicious than processed milk. However, that truth is censored very heavily by YouTube, as part of the general censorship regime in operation now.

The article concludes:

What will save the food supply in this country is less government oversight and bullying and more of the free market that the Amish practice. It is highly dangerous for government powers to be deployed in harassing these people and thus further poisoning the food supply. I’m happy to admit that I was wrong on this subject for most of my writing career. But the COVID response taught me a thing or two. I learned that we cannot trust government oversight in any aspect of human health, particularly not that which affects our food.

And it’s not only about food. It’s also about religious freedom. Groups such as the Amish and so many others have thrived in the United States thanks to religious freedom. Their lifestyle and food choices are part of that. Take that away and you remove the whole guts of the whole basis of the American experience. It’s that serious.

Meanwhile, as government goes after raw milk, vast numbers suffer real injury from mRNA shots the government forced on millions of people. Pharma’s stocks continue to trade at high levels while true investigations get little attention by the captured corporate media outlets.

The Amos Miller Organic Farm deserves every passionate defense from anyone who values health and freedom. Make no mistake. The war on the organic farm is a war on all of us and only to the industrial benefit of large producers tightly connected to the cartel that runs agriculture in this country. The entire regulatory empire needs to be completely deregulated in the interest of the health and well-being of everyone.

Many of us wish we lived near a farm like the Amos Miller Organic Farm. The government is doing no one a favor by shutting it down.

Is Increased Artic Ice A Sign Of Global Warming?

On Monday, PJ Media posted an article about global warming.

The article reports:

One of climate alarmists’ favorite predictions is that the Arctic is losing its ice due to global warming, something elites have claimed for decades. New data shows, however, that Arctic ice is actually increasing! 

Climate has always changed and will continue to do so until the real apocalypse (not the fake one climate alarmists have been predicting as imminent for decades). With more than 50 years of failed climate change predictions behind them and a track record of consistent and total untrustworthiness, you’d think that the doom prophets would have given up. Then again, climate change is a convenient way for the greedy to enrich themselves (like former Vice President Al Gore) and for power-hungry politicians to take away rights and liberties while claiming a moral and physical necessity.

The article concludes:

It is interesting that last year’s data showed eight years of a global cooling trend rather than warming. Right about this part of winter, I wouldn’t mind a little warming, but many of us in America are instead facing a harsh cold snap. Of course, it’s not encouraging that some entities (including our federal government) aim to engage in geoengineering to manipulate weather and supposedly save the planet from warming. These entities who want to reduce global temperatures ignore the fact that the world isn’t about to go up in flames and that the Arctic is not becoming ice-free.

The real threat isn’t climate apocalypse; it’s leftist ideologues who have the power to weaponize pseudo-scientific propaganda against us and our liberties.

Obviously, I am not in favor of pollution. However, I am in favor of balance and of a free market. India and China are largely exempt from the energy restrictions that recent climate ‘treaties’ have placed on America.

A December 2023 article at NBC News reported:

This year, the burning of fossil fuel and manufacturing of cement have added the equivalent of putting 2.57 million pounds of carbon dioxide into the atmosphere every second.

If China and India were excluded from the count, world carbon dioxide emissions from the burning of fossil fuels and cement manufacturing would have dropped, Friedlingstein said.

In 2023 the world increased its annual emissions by 398 million metric tons, but it was in three places: China, India and the skies. China’s fossil fuel emissions went up 458 million metric tons from last year, India’s went up 233 million metric tons and aviation emissions increased 145 million metric tons.

There is also the fact that many scientists believe that a higher level of CO2 is good for the planet–good for agriculture and good for providing food for more people.

Crippling The Free Enterprise That Made America Great

I am currently involved in a book study of a book called The 5000 Year Leap. The book is about the founding of American and the role that free enterprise played in the success of America. Just for the record, what we have now resembles crony capitalism more than it does free enterprise. Both Jamestown and Plymouth we started as socialistic societies which almost failed before they switched to a free market system. As flawed as America’s healthcare system is, when it is allowed to be a free market, it flourishes. Now the Biden administration is working to change that.

On Friday, The Epoch Times reported the following:

The Biden administration has proposed a new rule that would allow federal authorities to seize the patents of costly drugs that were developed using taxpayer dollars and to let third parties use those patents to make the drugs available more cheaply.

The National Institute of Standards and Technology (NIST), an agency of the U.S. Department of Commerce, on Dec. 7 published a set of draft guidelines for government agencies to evaluate when it might be appropriate to invoke what are known as “march-in” rights under the legal framework of the Bayh-Dole Act.

The Bayh-Dole Act, which is shorthand for the University and Small Business Patent Procedures Act of 1980, grants the government the authority to suspend the patents of products of inventions that were developed with federal funding if those products or inventions are not made available to the public.

I agree that Americans pay too much for drugs, but this rule would have a serious impact on research and development and would eventually cause a downward spiral of healthcare in America.

Please follow the link to read the entire article. I realize that the pharmaceutical industry has not behaved well in recent years, but we need to clean up the industry–not destroy it.

This Green Energy Thing Just Isn’t Working

On Friday, John Hinderaker posted an article at Power Line Blog about the current state of green energy.

The article reports:

Wind and solar are both terrible methods of generating electricity, both expensive and unreliable. The one thing that can make the situation worse is the drive to electrify everything, including motor vehicles. The impracticality of this “green” vision has become blindingly obvious, and the “green” movement has begun to fall apart.

The article cites a few recent articles on the subject.

From the Telegraph: “Electricity prices ‘must rise by 70pc to pay for more wind farms.’”

No new wind farms will be built off Britain’s shores unless the Government lets operators earn more money from the electricity they produce, the chief of the nation’s biggest generator has said.

Tom Glover, country chair of RWE’s UK arm, said the price offered by the Government to wind farm operators must rise by as much as 70pc to entice companies to build.
***
His warning follows the disastrous result of the last offshore wind allocation round in September, which ended in a humiliation for ministers with not one company offering to build new offshore wind farms.

From Robert Bryce: “Ford Lost $62,016 For Every EV It Sold In 3Q.”

The bloodbath in Ford Motor Company’s EV division continues. On Thursday, Ford reported an operating loss of $1.3 billion in its EV division during the third quarter. That translates into a loss of $62,016 for each of the 20,962 EVs it sold during the period.

That’s a smaller loss than the company recorded in the second quarter, when it lost $72,762 for each EV and the $66,446 it lost per EV during the first quarter.
***
In its October 26 press release, Ford provided an additional comment on the EV losses, saying, “According to the company, many North America customers interested in buying EVs are unwilling to pay premiums for them over gas or hybrid vehicles, sharply compressing EV prices and profitability.” …

That’s a truth bomb of the first order, one to which veteran observers of the EV hype should rightly reply, “ya think?” Consumers, that is, consumers who aren’t part of the Benz and Beemer crowd, have been unwilling to pay premiums for EVs throughout the century-long history of the EV business. The question that Ford shareholders should be asking the company’s management, and CEO Jim Farley in particular, is obvious: “What the hell took you so long to recognize that customers aren’t willing to pay high prices for EVs?”

I don’t know if I can ever forgive Ford for what it did to the Mustang!

This is what happens when the government interferes in the free market.

This Is Not A Surprise

Yesterday The New York Times posted an article about recent events in Venezuela.

The article reports:

For the first time in a century, there are no rigs searching for oil in Venezuela.

Wells that once tapped the world’s largest crude reserves are abandoned or left to flare toxic gases that cast an orange glow over depressed oil towns.

Refineries that once processed oil for export are rusting hulks, leaking crude that blackens shorelines and coats the water in an oily sheen.

Fuel shortages have brought the country to a standstill. At gas stations, lines go on for miles.

Venezuela’s colossal oil sector, which shaped the country and the international energy market for a century, has come to a near halt, with production reduced to a trickle by years of gross mismanagement and American sanctions. The collapse is leaving behind a destroyed economy and a devastated environment, and, many analysts say, bringing to an end the era of Venezuela as an energy powerhouse.

First of all, American sanctions are a very small part of the problem. When the government began taking over industries, it did not know how to run them successfully and there was no real incentive for innovation and progress. Innovation and progress are much more commonly associated with the free market than socialism. This was entirely predictable.

In November 2013, I posted an article reporting the following:

On Friday the Associated Press reported that PDVSA, the government-owned oil producer in Venezuela, seized control of two oil rigs owned by a unit of Houston-based Superior Energy Services. The company had shut down the rigs because the Venezuela oil monopoly was behind on payments.

Nicolas Maduro, the successor to Hugo Chavez, has not taken over any industries during the six months he has been President of Venezuela. This is the first move he has made in that direction. When Hugo Chavez began taking over industries, one news analyst observed that it would be difficult for him to keep those industries running at their profit levels without the knowledge of the companies that owned them. The seizure of these two rigs, which are repair rigs, is an illustration of that point.

Before socialism, Venezuela was one of the richest nations in South America. They had a booming economy. Now people are starving. The is the fruit of socialism. People are designed to work for a reward. When there is no reward for extra work, there is no extra work done. The Pilgrims attempted a communal system of farming when they originally settled Plymouth. They abandoned the idea and gave each family their own plot of land to farm after they nearly starved to death. America tried socialism already. It didn’t work. Now we have a candidate who embraces socialistic policies running for President. If Joe Biden is elected, America will eventually go the way of Venezuela.

This Is What American Ingenuity Looks Like

The Amateur Radio Relay League (AARL), a group of amateur radio operators, posted the following in their recent newsletter:

Radio Amateurs Team Up to Help University Design Low-Cost Ventilator

Amateur radio volunteers from around the world have volunteered to assist University of Florida Professor Sam Lampotang and his engineering team in their quest to rapidly develop an open-source, low-cost patient ventilator that can be built anywhere from such commonly available components as PVC pipe and lawn-sprinkler valves.

The amateur radio volunteers are developing Arduino-based control software that will set the respiratory rate and other key parameters in treating critically ill coronavirus victims.

Multiple volunteers responding to a call for help from Gordon Gibby, MD, KX4Z, include noted software developer Jack Purdum, W8TEE, and uBITX transceiver maker Ashhar Farhan, VU2ESE. University of Florida physicians are working to address the critical legal aspects as the design moves closer to fruition. The ventilator’s valves would precisely time compressed oxygen flow into patient breathing circuits under Arduino control, allowing exhausted patients with “stiff” lungs impacted by viral pneumonia to survive until their body can clear the infection.

The software design team is also adding simple features such as an LCD display, encoders to choose parameters, and watchdog safety features.

This is the result of the free market being allowed to function.

Some Random Thoughts On Socialism

I love Iceland. The top of this blog is a picture from Iceland. It is an amazing country. It is a socialist country. When you drive through the beautiful countryside and look at the houses on the hills, all of the houses look alike. There is no individuality. I believe that is one of the results of a socialist state. Contrast that with a small bit of American history. After World War II as the soldiers were returning home, they needed a place to live with their families. Many of them were young families with very few assets. I know this because my father was one of the returning veterans. He was one of the men who landed on D-Day. After he returned home, he moved our family to Levittown, New York, a community which had been built for the returning soldiers. All the houses in Levittown were identical. There were hundreds of them. Today when you drive through that original section of Long Island, all of the houses are different–some added porches, second stories, garages, etc. The neighborhood is indicative of the individuality of the American spirit–something not found in a socialistic culture.

There are a lot of factors involved in the younger generation’s attraction to socialism. It is not unlike the hippie movement of the 1960’s. As a youth, you want things to be ‘fair.’ As we have extended adolescence into the mid to late 20’s, these ‘grown’ adolescents have become accustomed to having lodging provided (many are still living with their parents). Marriage and building a family have been postponed until their 30’s, partially because of college debt that was not always well thought out. Because one of the traits of adolescence is the need to be accepted, conformity is also part of the picture. The ‘everyone-gets-a-trophy generation’ has not really had to struggle to feel successful and thus has not had the satisfaction of working toward and achieving success. (I am speaking in very general terms here.) Socialism eliminates the struggle–just do okay and all of your needs will be provided. Our schools have not taught the downside of socialism–dissenters put in prison or shot, starvation, no middle class–only a very upper class and a lower class.

As the younger generation grows older, if they accept the responsibilities of adulthood, their love of socialism will fade. Once they realize that they can achieve things (with some effort and ingenuity), I believe they will embrace the free market. The good news is that as of yet, they have not turned out as a major voting block. Hopefully their love affair with socialism will end before they become a major voting block.

Spin vs. Reality

The Washington Examiner posted an article today about the latest events in the climate change debate.

The article reports:

Speaking at the United Nations in December, House Speaker Nancy Pelosi drew cheers by saying the United States was “still in” the Paris Climate Agreement. Green activists applauded Pelosi’s defense of the international climate accord, which President Trump had vowed to exit. These activists claim that remaining in the Paris Agreement will help reduce global emissions.

They are wrong.

European leaders have spent years trying and pointedly failing to solve the climate crisis with regulation. Whether intentionally or not, U.S. policymakers have mostly avoided top-down solutions. And counterintuitively, or perhaps it should have been intuitive, the U.S. now leads the developed world in reducing carbon emissions.

America didn’t need a treaty–we just needed a President who understood how to balance environmental policy and the freedom and interests of the American people.

The article explains why the American approach has worked:

…instead of banning fossil fuels outright, the U.S. embraced natural gas amid a boom in its production. Thanks to a process called hydraulic fracturing or “fracking,” we’ve managed to tap new reserves of natural gas. In 2015, the U.S. surpassed Saudi Arabia and Russia to become the world’s top producer of natural gas. By 2018, energy companies produced over 60% more natural gas than they had two decades earlier. This newfound abundance of natural gas has helped our nation transition away from coal, which emits twice as much carbon dioxide.

Thanks to this shift, U.S. carbon dioxide emissions have hit 30-year lows, even as global emissions have increased by 50% during the same period. And since 2005, natural gas has done more to reduce power sector dioxide emissions than all renewable energy sources combined, according to the Energy Information Administration.

By eschewing regulation, America has also spurred additional emissions-reducing innovations in the private sector. Freed from red tape, U.S. energy firms have been able to devise and implement a host of groundbreaking green technologies. For example, a new technology called CleanWave strips chemicals from fracking wastewater using positively charged ions and bubbles. The Texas-based energy firm Apache reduces greenhouse gas emissions by powering fracking engines with natural gas instead of diesel.

The article concludes:

While the rest of the world fumbles with green energy policies, the U.S. continues to reduce emissions. We don’t need regulation to guarantee future success. American firms will continue to combat climate change, as long as we let them.

The free market works any time you let it.

When The Government Gets Involved, The Incentive For Innovation Goes Down

Yesterday The American Thinker posted an article about the Crescent Dunes thermal solar plant in central Nevada. The thermal solar plant has failed.

The article reports:

Crescent Dunes was a serious project designed to attack the great weakness of solar electricity.  Sunshine is strongest in the middle of the day, but demand for electricity peaks at the end of the day and in the early evening.  This is especially true during the Las Vegas summer, when air-conditioners are running full blast as temperatures soar well past 100 degrees in the late afternoon.

A method of storing plentiful midday solar electricity so it can be utilized in the evening was needed.  Otherwise, solar would hit a ceiling at far less than 50%.  One method is to use batteries.  That is wildly expensive and quite dangerous as the flammable batteries store vast quantities of energy.  That’s not stopping the Gemini project, scheduled for a site north of Las Vegas.  The Gemini solar project will have a $500-million battery system that stores as much energy as 5 million sticks of dynamite (1,400 megawatt-hours).  There have been dozens of fires at similar installations around the world.

The Crescent Dunes project stores energy in the form of molten salts.  During the day, sunshine is concentrated by motorized mirrors aiming beams of sunlight at a central tower, where the liquid salts are heated to a high temperature.  The hot salts are stored in a large tank.  When power is need in the early evening, heat is taken from the tank to make steam and drive a turbine-generator to make electricity.  Crescent Dunes was plagued by leaks in the salt tank, forcing it to close for months at a time.  By contract, the electricity was sold to NV Energy for $135 per megawatt-hour, or about six times as much as it would cost to generate the same amount of electricity in existing natural gas plants.

Crescent Dunes is eligible for the usual government subsidies amounting to around 75% of the construction cost.  It was granted a $700-million government loan guarantee on the ground that it was pioneering, experimental technology, which it was and is.  That problems emerged is not surprising.  That happens to pioneers.  But the not unexpected failures at Crescent Dunes besmirch the propaganda that solar energy is the wave of the future.  Thus, it is necessary to kill Crescent Dunes for the spurious reason that it is obsolete technology.  Like all utility solar, it is useless, but it was an honest attempt to fix the severe problem that solar doesn’t work well late in the day, and not at all after the sun sets.

If green energy were allowed to emerge on its own in a free market, we might have actually solved some of the problems associated with it by now. However, when you introduce government subsidies into the free market, you lessen the drive to innovate. Useful inventions make money for their inventors. That provides incentive to create new ways of dealing with problems. When the government gets involved, those incentives are gone (at taxpayers’ expense).

A New Twist On Environmentalism

There is a lot of questionable science behind the push for ‘green energy.’ In some ways the quest is reminiscent of the quest for the elusive perpetual motion machine. One of the main reasons we have the wind and solar farms we have is that they are heavily subsidized by the government. Because the government has gotten involved, the free market has not invented the technology to make green energy truly effective. Why should they when competition is not a factor? Less than perfect technology has its challenges.

Yesterday John Hinderaker at Power Line posted an article with the following headline, “Wind Energy Collapsing In Germany.’

The article reports:

The expansion of wind power in the first half of this year collapsed to its lowest level since the introduction of the Renewable Energy Act (EEG) in 2000. All in all, just 35 wind turbines were build with an output of 231 megawatts. “This corresponds to a decline of 82 percent compared to the already weak period of the previous year”, according to the German Wind Energy Association (BWE) in Berlin.

“This makes one nearly speechless,” said Matthias Zelinger at the presentation of the data. The managing director of the Power Systems division of the German Engineering Federation (VDMA) spoke of a “blow to the guts of the energy turnaround”. This actual development doesn’t match “at all to the current climate protection debate”.

The article notes the cause of the decline:

The most important cause lies in the legal resistance of wildlife and forest conservationists fighting new wind farms. The BWE President referred to an industry survey of the onshore wind agency. According to its findings, more than 70 percent of the legal objections are based on species conservation, especially the threat to endangered bird species and bats.

The article concludes:

The conservationists have a point. One of the worst features of both wind and solar energy is that they are terrible for the environment. They use up an enormous amount of land that otherwise would be available for agriculture, development or recreation. They are eyesores. And they kill huge quantities of wildlife.

It isn’t the most important reason to oppose corrupt subsidies and mandates for “green” energy, but the fact that these energy sources are bad for the environment is one more nail in the coffin.

Somehow I don’t expect to see this news in the mainstream media.

Stuck On Stupid

It is unfortunate that Nike chose to withdraw its patriotic sneakers from the market. The flag designed by Betsy Ross is not racist. At least it wasn’t during President Obama’s inauguration in 2013. This is a photo from that event:

It was an interesting marketing decision–someone is profiting greatly from it. This is a screenshot from The Business Insider:

You have to love the free market.

Karma Anyone?

A lot of elected officials have never worked in the private sector. This impacts their view of economics and how it works. Often people who support liberal ideas have not had enough economic experience to understand that ideas that may sound wonderful may not work out as planned.  A recent example of this is a bookstore owner in New York City.

Yesterday Steven Hayward posted an article on Power Line Blog about Chris Doeblin, the owner of Book Culture, a four-location independent bookseller in New York City. The bookstore has a reputation of being a progressive bookstore.

The owner of the bookstore is quoted in the article:

“Our four stores are in danger of closing soon and we need financial assistance or investment on an interim basis to help us find our footing. This is true in spite of the fact that business has been good and we are widely supported and appreciated,” [owner Chris Doeblin] wrote. “In the last 30 months the payroll costs for Book Culture have risen by 50% and it has been difficult to adapt quickly enough. We have now made the structural changes to our company and the cuts that will allow us to move ahead profitably once we find the financial resources we need.”

The operative statement in that quote is that the payroll costs have risen by 50%. The article explains:

Doeblin blamed payroll cost increases on the city’s minimum wage raise, which he says increased hourly wages for his employees “from $10 to $15.25 since December 2016” and forced him to initiate layoffs and reorganizing.

Now Doeblin has a solution for the problem, which further confirms his lack of understanding of how economics and the free market work:

Doeblin explained to Gothamist what he believes the business needs to survive, and his larger ambitions to try to help other small businesses stay alive in an ever-changing city: “I think we need at least $500K in a term loan but I hope to find $750K to a $1M,” he said. “I would like the city to immediately [guarantee] such a loan and then embark on a serious plan to improve the odds of small business in New York. I would like to be on that panel too, because there is a lack of creative optimistic thinking and action.”

This illustrates the reason we need to teach economics and the principles of the free market in high schools and colleges.

Helping Solve The Healthcare Problem

It is becoming obvious that the Democrats in Congress are not really interested in solving problems. They have been absent on the border crisis and they have been absent on healthcare and health insurance. Meanwhile, President Trump is making gains in both of those areas.

Yesterday John Hinderaker at Power Line Blog posted an article about a recent change in health insurance regulations announced by the Department of Health and Human Services. The change will allow businesses to fund employees who buy health insurance on the individual market–something that until now has been illegal.

The article includes the announcement:

Today, the U.S. Departments of Health and Human Services, Labor, and the Treasury issued a new policy that will provide hundreds of thousands of employers, including small businesses, a better way to provide health insurance coverage, and millions of American workers more options for health insurance coverage. The Departments issued a final regulation that will expand the use of health reimbursement arrangements (HRAs). When employers have fully adjusted to the rule, it is estimated this expansion of HRAs will benefit approximately 800,000 employers, including small businesses, and more than 11 million employees and family members, including an estimated 800,000 Americans who were previously uninsured.
***
Under the rule, starting in January 2020, employers will be able to use what are referred to as individual coverage HRAs to provide their workers with tax-preferred funds to pay for the cost of health insurance coverage that workers purchase in the individual market, subject to certain conditions. … Individual coverage HRAs are designed to give working Americans and their families greater control over their healthcare by providing an additional way for employers to finance health insurance.
***
The HRA rule also increases workers’ choice of coverage, increases the portability of coverage, and will generally improve worker economic well-being. This rule will also allow workers to shop for plans in the individual market and select coverage that best meets their needs. … [T]he final rule should spur a more competitive individual market that drives health insurers to deliver better coverage options to consumers.

Moving healthcare and health insurance back to free market principles will be better for everyone–it will increase competition and eventually drive costs down. This is a step in the right direction.

Wisdom From A Friend

John Droz, Jr., is a physicist who has spent a lot of time studying the impact of wind farms and wind energy. The following is the result of some of his research:

Wind Energy: Local Economics 101

What about the claim that industrial wind energy projects are a “financial boon” to hard-pressed rural communities? On the surface that sounds plausible, but to evaluate this assertion this we need to look a bit deeper. This is a two part answer…

First, we do not select our electrical energy sources based on the economic impact to host communities. Instead our electrical energy sources are chosen because of their reliability, true cost to ratepayers & taxpayers, proximity to demand centers, dispatchability, etc.

Wind energy fares poorly on ALL such metrics — which is why wind salespeople try the sleight-of-hand tactic to talk instead about local taxes, local lease payments, etc. We need to be careful about getting tricked by such marketing tactics.

Secondly, the only way that we can know if these projects are genuinely an economic asset, is if a proper NET financial analysis is done. In other words we need to do a comprehensive and objective investigation into the pros and cons of these projects.

We know the positives, as the developers and their proponents have done a fine job at spelling out the possible benefits: property tax income, lease payments to selected landowners, several construction jobs, a few permanent jobs, etc.

But what about the negatives? How do we come up with the numbers on the other side of the equation, so that we can do an accurate NET financial assessment? The answer is to carefully research studies done by independent experts — i.e scientists, academics, economists, physicians, etc. who generally have no dog-in-the-fight.

After carefully doing that research here are some reasons why a wind project can be an economic liability to a host community:

1 – Independent experts have concluded that local agricultural income can decrease as: a)bats being killed will reduce crop yields, b) turbines can affect local weather [up to 15 miles away!] which will also lower crop yields, and c) in some cases, farmers with turbine leases will reduce or terminate operations. For much more on this, see here.

2 – Studies from independent experts have concluded that there can be serious hydro-geological consequences from wind projects. Here is a sample study done in Vermont.

3 – Studies from independent experts have concluded tourism will drop in the region. For example, North Carolina State University (avid wind proponents) surveyed tourists. Although the majority of the visitors stated that they supported wind energy, 80%± said that they would not vacation in an area where wind turbines were visible. Some other studies that have concluded that tourism will be reduced are listed here.

4 – Studies from independent experts have concluded that property values will decrease for residences within 1± miles of a wind project. This was the conclusion of largest study in the world on this topic, done by the London School of Economics. Here is an extensive list of other studies and articles that came to the same conclusion.

5 – Studies from medical professionals have concluded that some nearby citizens will experience adverse health effects. The biggest concern is from infrasound (noise we can not hear). The World Health Organization has stated (p53) that infrasound is more problematic than audible sound. Infrasound can be so harmful that the US military is researching weaponizing it. Over a hundred studies have concluded that there will be health consequences (here is a representative sample, including cancer).

6 – Studies from independent experts have concluded that industrial wind projects can cause major eco-system damage. See this sample study (esp. pages 103-122).

7 – Studies from independent experts have concluded that industrial wind projects can harm wildlife and livestock animals. Sample reports: here, here, here, here and here.

8 – Studies from independent experts have concluded that industrial wind projects can adversely affect local hunting (and possibly fishing). Here is an explanation of that.

9 – Research by independent experts has shown that wind projects can cause serious interference with military facilities. Here is an overview of the topic.

10-Despite implications otherwise, leaseholders can suffer economic losses. See this explanation of 40+ possible legal and financial liabilities to signing turbine leases.

So what might the NET be after taking the positives and negatives into account? A sample analysis was done of the proposed NY Horse Creek wind project. The conclusion is that the NET economic impact would likely be a loss of $10± Million a year. For comparison, an analysis of the NC Timbermill wind project was also done. The conclusion is that there could be a NET economic loss of $12± Million a year.

So before any community can say that a “wind project is a financial windfall,” a comprehensive and objective financial analysis must be done. Right now, no one in any federal, state or local agency, is thoroughly investigating these wind energy liabilities.

Without such an analysis, all financial claims are simply one-side of the economic equation — and are not an accurate representation of the NET economic impact. The evidence to date indicates that wind energy is the “gift” that keeps on taking.

Let me know any questions (email: “aaprjohn at northnet dot org”). john droz, jr. physicist 5/31/19

PS — For additional information on all of these costs, please see WiseEnergy.org.

Wind energy is probably a good idea, but we are not there yet in terms of technology. If the free market were allowed to function in the energy industry, we might get there faster.

Note:  I have linked a few of the studies listed in this paper. To go to the original paper and get the complete list go here.

Better Late Than Never

Yesterday The Hill reported that the Justice Department has announced that it has found the Affordable Care Act unconstitutional.

The article reports:

The DOJ previously argued in court that the law’s pre-existing condition protections should be struck down. Now, the administration argues the entire law should be invalidated.

U.S. District Judge Reed O’Connor ruled in December that the Affordable Care Act’s individual mandate is unconstitutional and that the rest of law is therefore invalid.

The DOJ said Monday that it agrees the decision should stand as the case works its way through the appeals process in the U.S. Court of Appeals for the 5th Circuit.

“The Department of Justice has determined that the district court’s judgment should be affirmed,” the department said in a short letter to the appeals court.

The article concludes:

Many legal experts in both parties think the lawsuit, which was brought by 20 GOP-led states, will not ultimately succeed. The district judge who ruled against the law in December is known as a staunch conservative.

The case centers on the argument that since Congress repealed the tax penalty in the law’s mandate for everyone to have insurance in 2017, the mandate can no longer be ruled constitutional under Congress’s power to tax. The challengers then argue that all of ObamaCare should be invalidated because the mandate is unconstitutional.

Most legal experts say legal precedent shows that even if the mandate is ruled unconstitutional, the rest of ObamaCare should remain unharmed, as that is what Congress voted to do in the 2017 tax law that repealed the mandate’s penalty.

This is another example of the consequences of Congressional inaction. First of all, the government has no business in healthcare or health insurance. It the government wants to make a few minor rules to make sure people can obtain healthcare, that is fine, but other than that, we need to go back to free market healthcare. Our current policies have made insurance more expensive than it should be and care more expensive than it should be. We need to go back to the days of knowing how much things cost and being able to shop around for our care.

This Lady Needs To Read American History

The Herald Mail Media reported yesterday that Representative Alexandria Ocasio-Cortez, speaking at the South by Southwest conference in Austin, Texas, stated the following:

“Capitalism is an ideology of capital — the most important thing is the concentration of capital and to seek and maximize profit,” Ocasio-Cortez said. And that comes at any cost to people and to the environment, she said, “so to me capitalism is irredeemable.”

Although she said she doesn’t think all parts of capitalism should be abandoned, “we’re reckoning with the consequences of putting profit above everything else in society. And what that means is people can’t afford to live. For me, it’s a question of priorities and right now I don’t think our model is sustainable.”

…While America is wealthier than ever, wealth is enjoyed “by fewer than ever,” she said.

“It doesn’t feel good to live in an unequal society,” she said, citing an increase in homelessness in New York City among veterans and the elderly while penthouses sit empty. “It doesn’t feel good to live in a society like that.”

Let’s look at those statements through the lens of American history. In November 2005, the Heritage Foundation published an article about communism in America.

The article included the following notes on American history:

Recalling the story of the Pilgrims is a Thanksgiving tradition, but do you know the real story behind their triumph over hunger and poverty at Plymouth Colony nearly four centuries ago? Their salvation stemmed not so much from the charitable gestures of local Indians, but from their courageous decision to embrace the free-market principle of private property ownership a century and a half before Adam Smith wrote The Wealth of Nations.

Writing in his diary of the dire economic straits and self-destructive behavior that consumed his fellow Puritans shortly after their arrival, Governor William Bradford painted a picture of destitute settlers selling their clothes and bed coverings for food while others “became servants to the Indians,” cutting wood and fetching water in exchange for “a capful of corn.” The most desperate among them starved, with Bradford recounting how one settler, in gathering shellfish along the shore, “was so weak … he stuck fast in the mud and was found dead in the place.”

The colony’s leaders identified the source of their problem as a particularly vile form of what Bradford called “communism.” Property in Plymouth Colony, he observed, was communally owned and cultivated. This system (“taking away of property and bringing [it] into a commonwealth”) bred “confusion and discontent” and “retarded much employment that would have been to [the settlers’] benefit and comfort.”

The most able and fit young men in Plymouth thought it an “injustice” that they were paid the same as those “not able to do a quarter the other could.” Women, meanwhile, viewed the communal chores they were required to perform for others as a form of “slavery.”

On the brink of extermination, the Colony’s leaders changed course and allotted a parcel of land to each settler, hoping the private ownership of farmland would encourage self-sufficiency and lead to the cultivation of more corn and other foodstuffs.

As Adam Smith would have predicted, this new system worked famously. “This had very good success,” Bradford reported, “for it made all hands very industrious.” In fact, “much more corn was planted than otherwise would have been” and productivity increased. “Women,” for example, “went willingly into the field, and took their little ones with them to set corn.”

The famine that nearly wiped out the Pilgrims in 1623 gave way to a period of agricultural abundance that enabled the Massachusetts settlers to set down permanent roots in the New World, prosper, and play an indispensable role in the ultimate success of the American experiment.

A profoundly religious man, Bradford saw the hand of God in the Pilgrims’ economic recovery. Their success, he observed, “may well evince the vanity of that conceit…that the taking away of property… would make [men] happy and flourishing; as if they were wiser than God.” Bradford surmised, “God in his wisdom saw another course fitter for them.”

There will always be inequities in wealth. A person who works 12-hour days will generally earn more than a person who works a 6-hour day. People who invent things or have new ideas generally do very well financially. Rewarding innovation provides an incentive for progress. Capitalism (or the free market economy) is not perfect, but it creates fewer problems than any other economic system. Those touting the wonders of socialism need only look at the economic history of Venezuela during the past ten years. Once the wealthiest country in South America, now a place of unspeakable poverty. That is the fruit of socialism or communism.

Representative Ocasio-Cortez, please learn your history.

Good News–Temporary Good News, But Good News

Breitbart is reporting today that a White House study released on Friday found that President Donald Trump’s Obamacare reforms will save Americans roughly $450 billion over the next ten years.

That is wonderful news, but it is only temporary wonderful news.

The article reports:

A White House Council of Economic Advisers (CEA) study released on Friday found that Americans will save $450 billion through Trump’s Obamacare reforms. The CEA suggested that Trump’s repeal of the Obamacare individual mandate and the expansion of short-term insurance plans and Association Health Plans (AHPs) will save Americans billions over the next ten years.

The White House also suggested that the benefits of Trump’s deregulatory actions saved Americans billions, increased access to more health insurance options, and did not amount to a “sabotage” of the Affordable Care Act (ACA).

Unfortunately these savings are a result of Executive Orders, not legislative action. That means that the changes can theoretically be reversed by a future President. It would have been wonderful if Congress had stepped up to the plate and made the necessary changes.

The article concludes:

Many Americans have contended that because 80 percent of those who paid the Obamacare mandate made less than $50,000 a year, the individual mandate repeal serves as a significant middle-class tax break.

The CEA said about 87 percent of Obamacare exchange enrollees receive ACA subsidies and “only pay a fraction of their health insurance costs.”

Many Obamacare proponents suggested that the repeal of the individual mandate, as well as the expansion of short-term plans and AHPs, would lead to higher premiums on the Obamacare exchanges.

In contrast, the CEA contended that because more people will use AHPs and short-term plans and fewer people will use the ACA exchanges, the government will save $185 billion over the next ten years.

The CEA said that instead of sabotaging the ACA, the Trump administration offered millions of Americans more affordable health insurance options.

“The oft-expressed view that deregulation ‘sabotages the ACA’ by giving consumers more insurance-coverage options is misguided,” the CEA said.

The free market is always the best answer.

Have We Passed The Point Of Being Able To Have A Serious Discussion Of Issues?

On Friday, The Daily Signal posted an article that provides some background information on Stacey Abrams.

These are some basic facts about Ms. Abrams listed in the article:

1. She ‘Wouldn’t Oppose’ Noncitizen Voting  –  she did support the idea of non-citizens voting to local elections, but the fact remains that people who are here illegally are breaking the law and should not have voting rights.

2. She Wants to Turn Georgia Blue – that’s not all that unusual, but her approach in somewhat interesting.

3. She Wants to Promote ‘Race and Gender’ Issues – has anyone else noticed that promoting race and gender issues divides us rather than unites us?

4. She Was Endorsed by Planned Parenthood – just for the record, Planned Parenthood receives on average approximately $500 million a year in taxpayer funds. How much of that money is essentially laundered and spent on campaign contributions?

5. She Is ‘Sick and Tired’ of Free Market Role in Health Care – actually health care worked very well until the government got involved – people were taken care of and the cost was not prohibitive.

6. She Says ‘Liberal’ Is a Good Word – that is her privilege.

7. She Says the AR-15 Doesn’t Belong in Civilian Hands – Don’t look for her to support the Second Amendment.

And finally:

8. She Is a ‘Romance’ Novelist – she writes sexually explicit romance novels under the name of Selena Montgomery.

The comments in bold type are from the article. Other comments are mine.

This is the person the Democrats have chosen to respond to the State of the Union address.

If You Give A Mouse A Cookie…

I think “If you give a mouse a cookie…” is going to be my motto for 2019. If You Give a Mouse a Cookie is a children’s book written by Laura Numeroff and illustrated by Felicia Bond. The book was published in 2015 and contains more wisdom than most adult books. The basic premise is that if you give a mouse a cookie he will want milk to go with it. Then he will want a chair to sit in and a table to sit at. You get the picture. Well, on January 11th, The Las Vegas Review-Journal posted an article that beautifully illustrates the message of the book.

The article reports:

The Fight for $15 isn’t living up to its promise.

For years, liberals have claimed that the minimum wage needs to increase to $15 an hour to provide a living wage for full-time workers. The stated goal, as socialist Sen. Bernie Sanders writes on his website, is straightforward, “We must ensure that no full-time worker lives in poverty.”

In one way, the campaign has been remarkably successful. California and New York are phasing in a statewide $15 an hour minimum wage. Numerous cities, including Seattle, Minneapolis and Washington D.C., have passed $15 an hour minimum wage laws as well.

But as sure as the sun comes up in the morning, progressives are now demanding more.

“$15 an hour: A higher wage, but hardly a living,” a CBS News headline from October reads. After bemoaning the inadequacy of the $7.25 an hour federal minimum wage, the CBS story asserts that “even at $15 an hour, life doesn’t get a whole lot easier.”

The article continues:

“The arrival of a $15 hourly minimum wage cannot be considered the end of something,” New York Times columnist Ginia Bellafante wrote last week. Her suggestion? A $33 an hour minimum wage for the Big Apple.

Ah, the wonders of progressive economics. Just pass a law mandating that everybody must make at least $68,000 a year — with full medical benefits, vacation time and family leave allowances, of course. But why stop there? Why with a stroke of the pen, we could all be millionaires!

The argument for a higher minimum wage is that in some cities housing is very expensive. Might this be an argument for the free market? If housing is too expensive and people cannot easily afford to live there, don’t they move to places they can afford? If people can’t afford housing in a city, doesn’t the availability of housing increase and put downward pressure on the price?  It seems to me that is one of the reasons many states are losing rather than gaining population.

The article concludes:

The minimum wage was never intended to provide a living wage. Most minimum wage workers aren’t trying to make a living. A great many are earning supplemental income. Most are between 16 and 24 and work part-time. Inexperienced workers don’t produce that much value. It can still be profitable for the company to hire them — at a lower wage rate.

This creates a win-win. Companies make money by hiring less expensive workers. The workers receive the experience and training that allows them to move up the career ladder. According to the Heritage Foundation, two-thirds of minimum wage workers see their wages increase within a year of starting their job.

This normal career progression is short-circuited when politicians meddle in the marketplace and set unreasonable wage floors. As some leftists are now acknowledging, it’s not even as beneficial as advertised for the workers who manage to find work.

Raising the minimum wage isn’t going to end poverty. But it can make it worse.

If the minimum wage ever increases to $50 an hour, I promise to come out of retirement!

Plymouth Rock Began As A Socialist Colony.

The new Democrat party has moved left very quickly in the past two years. The term Democratic Socialist has been used to describe some of the young Democrats just getting their footing in the party. Actually, Socialist would probably be a better description. These young Democratic Socialists are a tribute to the damage done in recent years by our education system. They have not been taught the failures and atrocities associated with Socialism and believe that it is a fair system. They are not familiar with the Pilgrims early socialist experiment.

OffTheGridNews has a brief description of what happened:

Since the Pilgrims did not have enough funds to outfit for the journey and establish a colony, they sought help from the Virginia Company of London and the Virginia Company of Plymouth, companies known as “adventurers,” which were organized to fund and equip colonial enterprises.

One of the key points of the contract between the Pilgrims and the Adventurers said that all colonists were to get their food, clothing, drink and provisions from the colony’s “common stock and goods.” In addition, during the first seven years, all profits earned by colonists would go into the “common stock” until they were divided.

“Today we would call this a socialist commune,” Patton wrote. “In other words, the Pilgrims accepted the socialist principle, ‘from each according to his ability, to each according to his need.’ Each person was to place his production into the common warehouse and receive back, through the Governor, only what he needed for himself or his family. The surplus after seven years was to be divided equally, along with the houses, lands, and chattels, ‘betwixt the Adventurers and Planters.’”

The Pilgrims actually wanted to own their own lands and homes and to work two days a week for their own gain, but the adventurers would not allow it.

Once the agreement was signed, two ships were outfitted for the journey, the Speedwell and the Mayflower. But the Speedwell proved unseaworthy, so everyone still willing to make the journey—102 persons—crowded aboard the Mayflower and set sail.

Patton wrote that after landing on Dec 21, 1620, the Pilgrims suffered horribly their first winter, with around half the colonists perishing. Aid from the now-famous native, Squanto, helped them survive with new planting techniques, but the harvests of 1621 and 1622 were still small.

The colony’s governor, William Bradford, wrote that its socialist philosophy greatly hindered its growth: Young men resented working for the benefit of other men’s wives and children without compensation; healthy men who worked thought it unjust that they received no more food than weak men who could not; wives resented doing household chores for other men, considering it a kind of slavery.

Governor Bradford wrote that to avoid famine in 1623, the Pilgrims abandoned socialism, Patton said.

“At length, after much debate of things, the Governor (with the advice of the chiefest amongst them) gave way that they should set corn every man for his own particular, and in that regard trust to themselves; in all other things to go on in the general way as before. And so assigned to every family a parcel of land,” Bradford wrote.

The colonists, each of whom now had to grow their own food, suddenly became very industrious, with women and children who earlier claimed weakness now going into the fields to plant corn. Three times the amount of corn was planted that year under the new system.

Yes, America began as a socialist colony. When socialism did not result in prosperity, the Pilgrims switched to a free market economy and everyone prospered. We need to learn the lessons of history.

The Consequences Of Not Understanding Economics

I am not an authority on economics. I am, however, a person who watches what goes on around me and sometimes learns lessons from what I see. Some economic principles are obvious enough to be learned that way.

In 2013, Forbes Magazine posted an article quoting a statement by then-President Obama on the subject of economic freedom. Economic freedom was not something President Obama believed in. President Obama acted on his belief that economic freedom was not a good thing, and the American economy suffered during his presidency.

The article quotes a speech President Obama gave in Kansas:

there is a certain crowd in Washington who, for the last few decades, have said, let’s respond to this economic challenge with the same old tune. “The market will take care of everything,” they tell us. If we just cut more regulations and cut more taxes–especially for the wealthy–our economy will grow stronger. Sure, they say, there will be winners and losers. But if the winners do really well, then jobs and prosperity will eventually trickle down to everybody else. And, they argue, even if prosperity doesn’t trickle down, well, that’s the price of liberty.

Now, it’s a simple theory. And we have to admit, it’s one that speaks to our rugged individualism and our healthy skepticism of too much government. That’s in America’s DNA. And that theory fits well on a bumper sticker. (Laughter.) But here’s the problem: It doesn’t work. It has never worked. (Applause.) It didn’t work when it was tried in the decade before the Great Depression. It’s not what led to the incredible postwar booms of the ’50s and ’60s. And it didn’t work when we tried it during the last decade. (Applause.) I mean, understand, it’s not as if we haven’t tried this theory.

Well, have we tried this theory? A little history is in order here.

The article reminds us:

I pick 100 years deliberately, because it was exactly 100 years ago that a gigantic anti-capitalist measure was put into effect: the Federal Reserve System. For 100 years, government, not the free market, has controlled money and banking. How’s that worked out? How’s the value of the dollar held up since 1913? Is it worth one-fiftieth of its value then or only one one-hundredth? You be the judge. How did the dollar hold up over the 100 years before this government take-over of money and banking? It actually gained slightly in value.

Laissez-faire hasn’t existed since the Sherman Antitrust Act of 1890. That was the first of a plethora of government crimes against the free market.

…Obama absurdly suggests that timid, half-hearted, compromisers, like George W. Bush, installed laissez-faire capitalism–on the grounds that they tinkered with one or two regulations (Glass-Steagall) and marginal tax rates–while blanking out the fact that under the Bush administration, government spending ballooned, growing much faster than under Clinton, and 50,000 new regulations were added to the Federal Register.

The philosophy of individualism and the politics of laissez-faire would mean government spending of about one-tenth its present level. It would also mean an end to all regulatory agencies: no SEC, FDA, NLRB, FAA, OSHA, EPA, FTC, ATF, CFTC, FHA, FCC–to name just some of the better known of the 430 agencies listed in the federal register.

Even you, dear reader, are probably wondering how on earth anyone could challenge things like Social Security, government schools, and the FDA. But that’s not the point. The point is: these statist, anti-capitalist programs exist and have existed for about a century. The point is: Obama is pretending that the Progressive Era, the New Deal, and the Great Society were repealed, so that he can blame the financial crisis on capitalism. He’s pretending that George Bush was George Washington.

Please follow the link to read the entire article. It accidentally explains the reasons the economy has prospered under President Trump. I also strongly recommend reading The Creature From Jekyll Island by G. Edward Griffin for the story behind the creation of the Federal Reserve System.