Celebrating "Stimulus"

Today is the 5th anniversary of the President's monetary stimulus, but at TOC we're celebrating the only Obama stimulus that actually worked. It created jobs, boosted private sector manufacturing and encouraged people to appreciate the Bill of Rights. Of course, none of that was intentional.It's tapering now, but the results are still far above pre-stimulus… Continue reading Celebrating "Stimulus"

The #SeekRenters

The sequester debate isn't about spending cuts, it's about a tiny slowing in the rate of increase of funds transferred to Federal rent seekers. Noted in the Wall Street Journal: The Unscary Sequester In Mr. Obama's first two years, while private businesses and households were spending less and deleveraging, federal domestic discretionary spending soared by… Continue reading The #SeekRenters

Harry Reid and the Burning Yellow ap-Peril.

The US Olympic Team is outfitted in uniforms made in China. This has some people upset. Senate Majority Leader Harry Reid, D-Nev., for example: I think they should take all the uniforms, put them in a big pile and burn them and start all over again.House Speaker John Boehner, R-Ohio, said, "You'd think they'd [The… Continue reading Harry Reid and the Burning Yellow ap-Peril.

Competitors be warned

Government Motors has powerful allies: The White House, FBI, FCC, NLRB, EPA, IRS, etc., etc. Ford pulls its ad on bailouts This is what happens when government seizes corporations. If it will decide to give money to a corporation going bankrupt, to negate legal contracts... to suspend the rule of law, then government owns the… Continue reading Competitors be warned

Soft default

Paul Krugman offers further proof that winning a Nobel Prize damages your brain: What would a real response to our [economic] problems involve?... it would involve an all-out effort by the Federal Reserve to get the economy moving, with the deliberate goal of generating higher inflation to help alleviate debt problems.It seems to me that… Continue reading Soft default