What the rise of Trump means and what’s next
Intense dislike of Trump is causing people to miss something big. Trump’s rise and popularity is a symptom of a trend, not a one-time aberration. A bottom-up reaction is emerging in Europe and America against a force that has been ascendant under many guises for over...
read moreSingle payer health care: a quack cure
The American left, which now dominates the Democratic Party, thinks it has a sure-fire winner in its advocacy of a single-payer system for America. Under single-payer, government becomes the sole source of reimbursement for health care services. Federal bureaucrats...
read moreSocialism popular failure,capitalism unpopular success
Socialism is a failure - but popular. Capitalism is a success -- but unpopular. Why? Socialism always and everywhere eventually has ended up creating economic stagnation and loss of freedom. The more aggressively it has been tried — think the old Soviet Union and Mao...
read moreHow to think about capitalism
James Lee Burke in his novel, Robicheaux, reminded me of something none of us should ever forget, “People are what they do, not what they think, not what they say.” The same is true for government policies and economic systems. What counts is how they perform, not how...
read moreThe Federal Reserve: a nemesis, not a hero
John Maynard Keynes, whose wrong-headed ideas dominate economic policy making almost everywhere, did get this right: "Lenin is said to have declared that the best way to destroy the Capitalistic System was to debauch the currency... Lenin was certainly right. There is...
read moreHow I invest my own money.
In this post I argue that you should pay attention to someone only if he personally gains or loses, depending on whether what he says proves true, and in this post I opine that there is a serious economic train wreck in our future. If I am not acting according to my...
read moreThe Trump tax cut will not turbocharge the economy.
Fans of the Trump tax (TTC) cut believe it will stimulate economic growth. Their belief is not supported by arithmetic and history. According to David Stockman, who was Reagan's Budget Director, The impact of the Trump cuts is trivial when compared to that of the...
read moreThe economy: good times to roll or looming train wreck
I sound like Chicken Little, cautioning that while the sky is not falling right now, it will at some unknowable time in the not-too-distant future – anywhere from tomorrow to a few years from now. And the fall will be worse than what any of us has seen in our...
read moreTariffs: possible short term gain, sure long term pain
If you want to be a competent economist without having to suffer through grasping abstract ideas, many of which are flawed, as well as mastering higher mathematics, all you have to do is remember the words of the great 19th century economist Frederic Bastiat. He...
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