MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'economy'. Sat, 03 Sep 2011 01:55:15 +0100 http://www.medworm.com/index.php?rid=5139694&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fw0BZieNHsaM%2F By Emily EkinsSeveral recent polls have shown Americans are becoming increasingly skeptical of of Washington’s economic planning capabilities. According to a recent Washington Post poll, 73 percent of Americans doubt Washington’s ability to solve economic problems. In fact, these numbers have leapt from 52 percent last year and from 41 percent in 2002. It appears that the more the government has tried to fix the U.S. economy, the less confident Americans are that the government is capable of doing such things. When the government in Washington decides to solve economic problems, how much confidence do you have that the problem actually will be solved: A lot, some, just a little, or none at all?  Source: Washington Post Poll Another example of this skepticism toward government economi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5139694 Tue, 16 Aug 2011 21:24:22 +0100 5139694 http://www.medworm.com/index.php?rid=5139697&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fs0GZFEFvci8%2F By Sallie JamesPresidential Candidate Ron Paul has a decidedly mixed record on trade policy. He often votes against trade agreements because he sees them as “managed trade” and  an interference with true free trade. Well, ok, but that’ s like voting against income tax cuts because you think the IRS shouldn’t exist. I get the point, but c’mon… In any event, he was the only participant in Thursday night’s debate between the Republican presidential candidates who spoke about trade with any sense at all. As Inside US Trade [subscription required] points out, trade policy was not a prominent theme of the debate, but that didn’t stop Mitt Romney from (again) spouting nonsense about balanced trade: Former Massachusetts governor Mitt Romney late las... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5139697 Tue, 16 Aug 2011 19:16:35 +0100 5139697 http://www.medworm.com/index.php?rid=5130901&cid=t_113027_125_f&fid=34819&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FFullosseousflapsDentalBlog%2F%7E3%2F0ZSy8duv_ng%2F President Barack Obama speaks during a town hall meeting, Monday, Aug. 15, 2011, at the Seed Savers Exchange in Decorah, Iowa, during his three-day economic bus tour Unbelievable – I mean really. At a town hall meeting on his campaign-style tour of the Midwest, President Obama claimed that his economic program “reversed the recession” until recovery was frustrated by events overseas.  And then, Obama said, with the economy in an increasingly precarious position, the recovery suffered another blow when Republicans pressed the White House for federal spending cuts in exchange for an increase in the national debt limit, resulting in a deal Obama called a “debacle.” “We had reversed the recession, avoided a depression, gotten the economy moving again,&#... FullosseousFlap's Dental Blog blogs http://www.medworm.com/rss/comments.php?id=5130901 Tue, 16 Aug 2011 01:37:41 +0100 5130901 http://www.medworm.com/index.php?rid=5069435&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9z_db8dIDdQ%2F By Chris EdwardsHouse Speaker John Boehner is scrambling to revise his budget plan after the CBO found that it would only cut spending by $850 billion, not the $1.2 trillion promised. However, the Boehner plan doesn’t actually cut spending at all. The chart shows the discretionary spending caps in the Boehner plan. Spending increases every year—from $1.043 trillion in 2012 to $1,234 trillion in 2021. (This category of spending excludes the costs of wars in Iraq and Afghanistan). The “cuts” in the Boehner plan are only cuts from the CBO baseline, which is an imaginary path of future spending designed as a planning tool for Congress. Boehner can propose to spend any amount in any future year he wants, and in this plan he choose to have a steadily rising spending path. The Boehne... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5069435 Wed, 27 Jul 2011 16:05:21 +0100 5069435 http://www.medworm.com/index.php?rid=5069450&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKpdi2xw9bqk%2F By Daniel GriswoldAs its governor, Rick Perry, weighs a run for the White House, Texas has drawn attention for its healthy job growth. Since the recession ended in June 2009, Texas has accounted for half of the net new jobs added to the U.S. economy, according to the lead story in this morning’s USA Today. That’s quite a record for one lone state. We’ll leave it to others for now to argue over how much credit Gov. Perry can claim. Some credit surely goes to high oil prices, fueling job growth in a sector important to the Texas economy. Another reason for its relatively strong job growth is a friendly business climate, including no state income tax and relatively light regulations. And for those who scapegoat trade for the nation’s persistently high unemployment rate, consider that ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5069450 Tue, 26 Jul 2011 16:38:58 +0100 5069450 http://www.medworm.com/index.php?rid=5051048&cid=t_113027_133_f&fid=35452&url=http%3A%2F%2Fwww.graphictruth.com%2F2011%2F07%2Fstart-of-end-of-empire.html Graphic courtesy New England SecessionThe downfall of the Murdoch empire is well underway, and the conventional wisdom seems to be that this will be limited to "the Murdoch Empire." And in a sense, perhaps it will be - but you really must think in terms of what that empire entails.If you think only in terms of media, you would be quite wrong. If you were to think in terms of influence and corruption - well, you would be closer to the mark. If you were to think in terms of "what would have happened had Murdoch been against the Iraq war" - well, now, you are starting to get the shape of it. But you'd still be out of scale.Media and money influence in two ways - by what they choose to "invest" in and what they choose to ignore. And both depend very heavily indeed upon credibility. RJ Esk... Graphictruth blogs http://www.medworm.com/rss/comments.php?id=5051048 Thu, 21 Jul 2011 02:18:00 +0100 5051048 http://www.medworm.com/index.php?rid=5028717&cid=t_113027_125_f&fid=34819&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FFullosseousflapsDentalBlog%2F%7E3%2F0eoWx2DYKSE%2F According to the latest Gallup Poll. More Americans continue to struggle to access basic necessities than before the 2008 economic crisis. The U.S. earned a Basic Access Index score of 82.0 in June — about on par with the low point of 81.5 recorded in February and March of 2009 — and down compared with 83.6 measured in June 2008. The current score is more than two points lower than the highest measured point of 84.1 in October 2008, revealing that nearly 5 million fewer Americans today have access to the basic necessities of life compared to that time. These findings are based on approximately 29,000 interviews conducted each month from January 2008 through June 2011 with American adults as a part of the Gallup-Healthways Well-Being Index. The Basic Access Index is a 13-item me... FullosseousFlap's Dental Blog blogs http://www.medworm.com/rss/comments.php?id=5028717 Fri, 15 Jul 2011 14:49:08 +0100 5028717 http://www.medworm.com/index.php?rid=4934100&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdI0BNiY-7_I%2F By Daniel GriswoldInternational Business Machines Inc. is celebrating its 100th anniversary as a company today. In this time of economic worry and uncertainty, it’s worth taking a moment to consider a few policy lessons we might glean from its longevity. Unlike government agencies and programs, private-sector companies competing in a free market come and go. In an essay posted on the IBM web site, company officials noted: Of the top 25 industrial corporations in the United States in 1900, only two remained on that list at the start of the 1960s. And of the top 25 companies on the Fortune 500 in 1961, only six remain there today. How did IBM not only survive but thrive during a century that took us from horses and buggies to FaceBook and iPhones? In a word, adaptability. IBM’s managemen... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4934100 Thu, 16 Jun 2011 18:33:44 +0100 4934100 http://www.medworm.com/index.php?rid=4934107&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9OkYj3oryb8%2F By Daniel J. MitchellI’ve explained before that one of the most damning pieces of evidence against Obamanomics is that the economy is suffering from sub-par growth, something that is particularly damning since normally one expects to see faster-than-average growth following an economic downturn. In a recent presentation, Robert Lucas of the University of Chicago included a couple of graphs that illustrate this phenomenon. This first chart shows the history of U.S. economic growth over the past 140 years. As you can see, the growth rate was remarkably constant over time, and there were always periods of rapid growth following economic downturns. Lucas, who won the Nobel Prize in economics in 1995, then looks at the data for the recent downturn and recovery. As you can see, we have been s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4934107 Thu, 16 Jun 2011 12:43:32 +0100 4934107 http://www.medworm.com/index.php?rid=4934402&cid=t_113027_112_f&fid=34971&url=http%3A%2F%2Fblog.drmalpani.com%2F2011%2F06%2Fwhy-doesnt-flipkart-do-better-job-of.html I buy a lot of books from Flipkart and am a fan - I love their prompt and reliable service !I recently bought a new Samsung Galaxy 2 phone from Flipkart. I hate commuting and shopping, so the fact that I could buy this online at one click was great. Flipkart delivered the phone promptly in 2 days, and I am very pleased with the phone and their excellent service !However, I was disappointed with the fact that the Flipkart shopping cart was not intelligent enough to sell me accessories for my new mobile phone. For example, I would have been happy to buy a screen protector film for my phone - but they did not offer me this choice.Flipkart could easily do a better job with tracking customer behaviour - they just lost a chance to sell more products. (Source: The Patient's Doctor) The Patient's Doctor blogs http://www.medworm.com/rss/comments.php?id=4934402 Sun, 12 Jun 2011 12:32:00 +0100 4934402 http://www.medworm.com/index.php?rid=4828848&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FhQfoDeV9Yjo%2F By Juan Carlos HidalgoTwo years ago in a Cato study I documented El Salvador’s remarkable liberalization process and the significant progress in economic and social indicators that resulted from those free market reforms. I also warned then about how those achievements were threatened by the likely victory of the former Marxist guerrilla group, FMLN, in the presidential election of 2009. Even though Mauricio Funes, the then FMLN candidate now turned president, has proven to be a relatively moderate figure when compared to his radical left-wing party, El Salvador is reversing many of the gains of the past decade. Mary O’Grady’s column in the Wall Street Journal today, which describes how “the wheels came off” of the “once thriving Salvadoran economy,” is a reminder to all coun... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4828848 Mon, 16 May 2011 21:05:05 +0100 4828848 http://www.medworm.com/index.php?rid=4734063&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FOJ5BsPWZczg%2F By George Scoville Please join us this Thursday, April 21 at 4:00 p.m. Eastern for a book forum and debate on “green energy” policy, following the recent release of the Cato book The False Promise of Green Energy. On Thursday, University of Alabama Professor of Law and Business Andrew P. Morriss (one of the book’s authors) and Center for American Progress Vice President for Energy Policy Kate Gordon will debate the merits of the “green” economic agenda, moderated by Cato Institute Senior Fellow Jerry Taylor. Complimentary registration is required of all attendees by noon TOMORROW, Wednesday, April 20. We hope you can join us in person and for the reception following the event–if you cannot attend in person, we hope you’ll tune in online or on Faceb... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4734063 Tue, 19 Apr 2011 14:29:37 +0100 4734063 http://www.medworm.com/index.php?rid=4658365&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDOoaNeXsr-o%2F By George Scoville Please join us on Thursday, April 7 at 2:00 p.m. ET for "The Economic Impact of Government Spending," featuring Sen. Bob Corker (R-TN), Sen. Mike Lee (R-UT), Rep. Kevin Brady (R-TX), former Sen. Phil Gramm, former IMF director of fiscal affairs department Vito Tanzi, and Ohio University economist and AEI adjunct scholar Richard Vedder. We encourage you to attend in person, but if you cannot, you can tune in online at our new live events hub. The last time we saw a green energy economy was in the 13th century. This isn't quite what we meant by "defense spending." For a refresher, see this itemized list of proposed cuts that could save taxpayers $150 billion annually. "Prosperity reigns where taxes are low and right to work prevails." In case you missed it last Friday, che... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4658365 Wed, 30 Mar 2011 15:32:15 +0100 4658365 http://www.medworm.com/index.php?rid=4653397&cid=t_113027_112_f&fid=34971&url=http%3A%2F%2Fblog.drmalpani.com%2F2011%2F03%2Fmobile-health-and-dumb-phones.html Given the fact that practically every one on this planet will soon have their own personal mobile phone, it's a very tantalising goal to be able to use this personal phone to help people improve their personal health ! Mobile phones are personal; private and ubiquitous and can be very powerful tools ! Mhealth has become a "hot area" today - and there are many clever applications available which help phones to become health monitoring devises.However, most of these apps have been developed in the West and they are designed for "smartphones". They are cool and fun to play with but we desperately need clever developers to produce apps for dumb phones - the kind of phones the billion who are at the "bottom of the pyramid" have to use daily. This is a much bigger challenge - but the results can... The Patient's Doctor blogs http://www.medworm.com/rss/comments.php?id=4653397 Tue, 29 Mar 2011 03:39:00 +0100 4653397 http://www.medworm.com/index.php?rid=4615078&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHvwUQ0pSe-Q%2F By Daniel GriswoldAs President Obama flies from Brazil to Chile today and then on to El Salvador later this week, trade and jobs have been a major theme of his trip. So far the tour has been a public relations success, but it also highlights the contradictions in the president’s trade policy toward our Latin American neighbors. One contradiction is that the president says nice things about trade agreements in the abstract, but he has so far refused to show leadership when it really matters. In an op-ed in USAToday on Friday, as he was about to depart for Brazil, the president wrote: Thanks in part to our trade agreements across the region, we now export three times as much to Latin America as we do to China, and our exports to the region — which are growing faster than our exports to t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4615078 Mon, 21 Mar 2011 19:20:12 +0100 4615078 http://www.medworm.com/index.php?rid=4615083&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwQVFtpMI84E%2F By Daniel J. MitchellTo put it mildly, the Federal Reserve has a dismal track record. It bears significant responsibility for almost every major economic upheaval of the past 100 years, including the Great Depression, the 1970s stagflation, and the recent financial crisis. Perhaps the most damning statistic is that the dollar has lost 95 percent of its value since the central bank was created. Notwithstanding its poor performance, the Federal Reserve seems to get more power over time. But rather than rewarding the central bank for debasing the currency and causing instability, perhaps it's time to contemplate alternatives. This new video from the Center for Freedom and Prosperity dives into that issue, exposing the Fed's poor track record, explaining how central banking evolved, and mentio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4615083 Mon, 21 Mar 2011 13:07:28 +0100 4615083 http://www.medworm.com/index.php?rid=4570532&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fn6LNbfhzUOA%2F By Jim HarperYou have to wade through a lot to reach the good news at the end of Time reporter Joel Stein's article about "data mining"---or at least data collection and use---in the online world. There's some fog right there: what he calls "data mining" is actually ordinary one-to-one correlation of bits of information, not mining historical data to generate patterns that are predictive of present-day behavior. (See my data mining paper with Jeff Jonas to learn more.) There is some data mining in and among the online advertising industry's use of the data consumers emit online, of course. Next, get over Stein's introductory language about the "vast amount of data that's being collected both online and off by companies in stealth." That's some kind of stealth if a reporter can write a t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4570532 Thu, 10 Mar 2011 16:19:15 +0100 4570532 http://www.medworm.com/index.php?rid=4566307&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2011%2F03%2F08%2Funemployed-retrain%2F New cartoon by Trussell & Trussell on Politics Daily. Unemployed? Retrain! Those old jobs aren’t coming back, you know. Time to get off your duff. Filed under: Politics Tagged: economy, retrain, robert donna trussell, unemployed, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4566307 Wed, 09 Mar 2011 04:20:07 +0100 4566307 http://www.medworm.com/index.php?rid=4455254&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FBPMWdSKAd5w%2F By Tad DeHavenPresident Obama will release his budget blueprint for fiscal 2012 next week. If an op-ed penned by his budget director, Jacob Lew, in Sunday’s New York Times is any indication, the administration intends to continue fiddling while the government’s finances burn. The title of the piece, “The Easy Cuts Are Behind Us,” is a real head-scratcher. Lew’s “easy cuts” are an apparent reference to the $20 billion in savings the president proposed in his previous budgets. Considering that the president proposed total spending of $3.8 trillion last year, $20 billion in gross cuts was an insignificant gesture to say the least. In reality, the Bush administration passed the spending baton to the Obama administration two years ago and it promptly sprinted off like Usain Bolt. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4455254 Wed, 09 Feb 2011 13:53:57 +0100 4455254 http://www.medworm.com/index.php?rid=4450280&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLMKgAIP6bpA%2F By Daniel GriswoldIn his speech at the U.S. Chamber of Commerce yesterday, President Obama tried to make nice with U.S. business. While the speech contained some positive elements about promoting trade and a lower corporate tax rate, the president also pounded the tired theme that we are locked in a battle with other countries over a fixed number of jobs. Notice how the president framed the otherwise good news of expanding domestic production: Right now, businesses across this country are proving that America can compete. Caterpillar is opening a new plant to build excavators in Texas that used to be shipped from Japan. … A company called Geomagic, a software maker, decided to close down its overseas centers in China and Europe and move their R&D here to the United States. These comp... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4450280 Tue, 08 Feb 2011 14:04:50 +0100 4450280 http://www.medworm.com/index.php?rid=4399773&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2011%2F01%2F25%2Fchina-and-america-of-yuan-and-yangsters%2F New cartoon by Trussell & Trussell on Politics Daily. China and America: Of Yuan and Yangsters. In Chinese, “crisis” is composed of two characters: “best friends forever” and “executioner.” Filed under: Politics Tagged: china, debt, economy, robert donna trussell, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4399773 Tue, 25 Jan 2011 22:16:08 +0100 4399773 http://www.medworm.com/index.php?rid=4309590&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FVw459i6YkKc%2F By Daniel IkensonA Wall Street Journal editorial today shines a long overdue spotlight on an antidumping case that is emblematic of the dissonance within U.S. trade policy. I, too, wrote about this case last year as an example of how the U.S. antidumping regime undermines U.S. manufacturing, penalizes U.S. exporters, and diminishes chances for achieving the administration’s goal of doubling exports in five years. In 2005, U.S. Magnesium Corporation, the sole producer of magnesium in the United States, succeeded in convincing the U.S. International Trade Commission and U.S. Commerce Department to impose duties on imports of magnesium from competitors in Russia and China. Before toasting this outcome with some clichéd or specious utterance about how the antidumping law ensures fair trade ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4309590 Tue, 04 Jan 2011 14:07:50 +0100 4309590 http://www.medworm.com/index.php?rid=4302262&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F12%2F31%2F99ers-and-the-bums-rush%2F New cartoon by Trussell & Trussell on Politics Daily. 99ers and the Bum’s Rush. Pawn shop is across the street, by the way. Filed under: Politics Tagged: 99er, economy, recession, robert donna trussell, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4302262 Fri, 31 Dec 2010 13:03:21 +0100 4302262 http://www.medworm.com/index.php?rid=4285181&cid=t_113027_87_f&fid=36069&url=http%3A%2F%2Ffrankiespeakingfrankly.blogspot.com%2F2010%2F12%2Fmotivated-to-do-good.html We I said in my last post that my next post would be about biomass gasification as opposed to mass burn incineration - well that one will just have to wait a few more days because I watched Julian Assange's interview with John Humphrey's last night and it prompted me to write this post instead.The part of his interview that I really like is about 20 minutes in when Assange was questioned by Humphrey's regarding his relationship with the world, his response as to the suggestion of him as some sort of a messianic figure (like it was some sort of a crime - which I find ironic since the members of Christian church are forever trying to become more Christlike and even part of the body of Christ). When asked somewhat accusingly 'So you want to change the world?', Assange replied, without any hes... Frankie Speaking Frankly blogs http://www.medworm.com/rss/comments.php?id=4285181 Thu, 23 Dec 2010 09:41:00 +0100 4285181 http://www.medworm.com/index.php?rid=4265692&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQeA2kvjDLrs%2F By Chris EdwardsJapan has announced that it will cut its corporate tax rate by five percentage points. Japan and the United States had been the global laggards on corporate tax reform, so this leaves America with the highest corporate rate among the 34 wealthy nations of the Organization for Economic Cooperation and Development. That is not a good position for us to be in. Most of the competition faced by U.S. businesses comes from businesses headquartered in other OECD countries. America also competes with other OECD nations as a location for investment. Our high corporate tax rate scares away investment in new factories, makes it difficult for U.S. companies to compete in foreign markets, and provides strong incentives for corporations to avoid and evade taxes. The chart shows KP... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4265692 Wed, 15 Dec 2010 18:59:48 +0100 4265692 http://www.medworm.com/index.php?rid=4258835&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwJtIn6mLNdM%2F By Walter OlsonAs Dan Mitchell pointed out this morning, proposals to abolish the $100 bill, on the grounds that it’s too easily used in underground-economy activities such as tax evasion and drug dealing, are another instance in which ordinary citizens are called on to sacrifice convenience and privacy to help in the ever-expanding federal fight against “money laundering.” I’ve long been fascinated by the unintended consequences that arise from these laws, especially from the federal “know your customer” rules under which banks (and increasingly other businesses) are required to pry into their customers’ earnings sources, family relationships, overseas ties and other sensitive matters. Those who cannot furnish satisfactory answers — such as ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4258835 Tue, 14 Dec 2010 20:20:52 +0100 4258835 http://www.medworm.com/index.php?rid=4230291&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F12%2F04%2Fobama-and-the-republicans-its-a-war-in-there%2F New cartoon by Trussell & Trussell on Politics Daily. Obama and the Republicans: It’s a War in There. Filed under: Politics Tagged: economy, obama, republican, robert donna trussell, tax cuts, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4230291 Sun, 05 Dec 2010 02:10:54 +0100 4230291 http://www.medworm.com/index.php?rid=4225219&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdnkALk1npcg%2F By Ilya ShapiroFans of soccer and liberal democracy — I’m in both groups — were disappointed to hear that the FIFA grandees awarded the 2018 World Cup to Putinland Russia and the 2022 event to Qatar (!).  My friend Grant Wahl has a typically sharp immediate reaction for Sports Illustrated that boils down to three points: (1) the choices prove once again that FIFA is not exactly a model of integrity and transparency; (2) Qatar?  Really?  Really?; and (3) the U.S. put together a strong bid and left everything on the pitch. I would expand Grant’s first point to darned-near all elite international organizations, from the International Olympic Committee all the way to the United Nations (though the Wall Street Journal today said FIFA makes the UN look like a mode... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4225219 Fri, 03 Dec 2010 16:30:19 +0100 4225219 http://www.medworm.com/index.php?rid=4219723&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaFOTata6CCk%2F By Alan ReynoldsThe Wall Street Journal’s December 1 “Ahead of the Tape” column, by Kelly Evans, says “manufacturing is a relatively small part of the economy; It employs about 9% of the work force and accounts for about the same percentage of GDP.” Actually, manufacturing accounts for about 12 percent of nominal GDP.  But that, too, is misleading.   Chicago Fed economist William Strauss explains why neither U.S. manufacturing’s share of employment nor its share of GDP captures the actual strength of manufacturing: Between 1950 and 2007 (prior to the severe recession), manufacturing output was just over 600% higher while over the same period growth in real GDP of the U.S. was only a slightly lesser 560%. Yet, the manufacturing share of GDP declined markedly over this period ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4219723 Wed, 01 Dec 2010 22:01:59 +0100 4219723 http://www.medworm.com/index.php?rid=4133682&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FX7xp36z6zwo%2F The objective of QEII would be to reduce long-term interest rates, with the belief that such a reduction would spur investment and consumption, thus increasing employment.   Estimated impacts on rates range from zero to 80 basis points (80/100s of one percent).   Given the large excess reserves in the banking system, it is likely that much of the monetary stimulus provided by QEII will simply be added to bank reserves, which would correspondingly have little to no impact on either lending or interest rates.  So its likely that we will get very little bang out of QEII. Even if QEII did lower rates as much as some Fed leaders claim, the impact would still be relatively small, under one percent.  Given that mortgage rates have already fallen by that much over the last six months... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4133682 Wed, 03 Nov 2010 15:43:39 +0100 4133682 http://www.medworm.com/index.php?rid=4125105&cid=t_113027_113_f&fid=35744&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fe-CareManagement%2F%7E3%2FfzA8zEEyTkY%2F The September issue of Wired magazine and an article in last Sunday’s New York Times illustrate a central debate in technology circles. The debate is not new — it’s being going on for two decades — but it has newfound vibrancy. The essence of the debate is about competing tech/business models: walled gardens vs. the open world wide web (web).   vs.   The debate is highly controversial and nuanced. There are “experts” on both sides. My point today is not to take sides (although I’ll admit my canine partiality to the open web), but rather: to point out that the debate is occurring  to explain what the discussions are about to suggest that competition between walled gardens vs. the open web is creating healthy competition and providing consumers with great choi... e-CareManagement blogs http://www.medworm.com/rss/comments.php?id=4125105 Tue, 02 Nov 2010 00:30:33 +0100 4125105 http://www.medworm.com/index.php?rid=4105947&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F10%2F25%2Fthe-economy-lets-get-ready-to-tumble%2F New cartoon by Trussell & Trussell on Politics Daily. The Economy: Let’s Get Ready to Tumble! We’re gonna need a bigger tow truck.   Filed under: Politics Daily Tagged: 2010 election, democrat, economy, humor, political cartoon, poll, republican, robert donna trussell (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=4105947 Mon, 25 Oct 2010 14:41:07 +0100 4105947 http://www.medworm.com/index.php?rid=4082072&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FmPLoG_jV5Io%2F By David BoazJust days after we rapped Rep. Betsy Markey (D-CO) for claiming that “every economist from the far left to the far right was saying the government needs to step in because there was absolutely no private sector investment,” Rep. Gerry Connolly (D-VA) tells the Washington Post, You’re darn right I voted for the stimulus. Every economist, including [some] Republican economists . . . said, for God’s sake, don’t let it go off the cliff. This is the myth that just won’t die. Markey and Connolly are echoing similar claims by President Obama, Vice President Biden, and even the notoriously unreliable Robert Reich. When Biden said it, Harvard economist Greg Mankiw asked if he was “disingenuous or misinformed” and pointed out: That statem... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4082072 Mon, 18 Oct 2010 20:55:35 +0100 4082072 http://www.medworm.com/index.php?rid=4045077&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqREsqEo1vOs%2F By Daniel J. MitchellThe new unemployment data have been released and they don’t paint a pretty picture — literally and figuratively. The figure below is all we need to know about the success of President Obama’s big-government policies. The lower, solid line is from a White House report in early 2009 and it shows the level of unemployment the Administration said we would experience if the so-called stimulus was adopted. The darker dots show the actual monthly unemployment rate. At what point will the beltway politicians concede that making government bigger is not a recipe for prosperity? They say the definition of insanity is doing the same thing over and over again while expecting a different result. The Obama White House imposed an $800-billion plus faux stimulus... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4045077 Fri, 08 Oct 2010 14:28:50 +0100 4045077 http://www.medworm.com/index.php?rid=4031214&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaA8MvUZ4l0Q%2F By Jason KuznickiThis month’s Cato Unbound features a lead essay by economist and polymath Deirdre McCloskey. Though she’s been professionally associated with the Chicago School, her ideas are anything but predictable, and she’s been one of the strongest critics of the mainstream of her discipline. Economic activity, she argues, is driven primarily by forces outside of conventional economic theory. Sure, there’s supply and demand, and we all know the story, and there’s nothing terribly wrong with it, at least as far as it goes. Elaborations on the model aren’t wrong either — externalities, transaction costs, asymmetrical information, problems of coordination and public goods — these too are fine, as far as they go. Where she disagrees is in ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4031214 Tue, 05 Oct 2010 14:56:22 +0100 4031214 http://www.medworm.com/index.php?rid=3993275&cid=t_113027_146_f&fid=38266&url=http%3A%2F%2Fsleepeducation.blogspot.com%2F2010%2F09%2Fchildhood-money-troubles-lead-to.html (Source: Sleep Education) Sleep Education blogs http://www.medworm.com/rss/comments.php?id=3993275 Tue, 21 Sep 2010 16:11:00 +0100 3993275 http://www.medworm.com/index.php?rid=3935904&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F09%2F05%2Fnext-stop-obamaville-everybody-off%2F New cartoon by Trussell & Trussell on Politics Daily. Next Stop, Obamaville. Everybody Off! Filed under: Politics Daily Tagged: comics, economy, humor, obama, political cartoon, recession, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3935904 Mon, 06 Sep 2010 04:04:18 +0100 3935904 http://www.medworm.com/index.php?rid=3929430&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F09%2F02%2Fanother-depression-the-fed-and-ben-bernanke-to-the-rescue%2F New cartoon by Trussell & Trussell on Politics Daily. Another Depression? The Fed and Ben Bernanke to the Rescue! Filed under: Politics Daily Tagged: ben bernanke, cancer humor, comics, economy, political cartoon, recession, robert donna trussell, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3929430 Thu, 02 Sep 2010 16:00:20 +0100 3929430 http://www.medworm.com/index.php?rid=3924886&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFgIpiK3-ZtI%2F By Daniel GriswoldA Pew Hispanic Center report released today confirms what has been widely known, that the number of illegal immigrants in the United States has dropped sharply since 2007. The real argument is over what’s behind the decline. According to Pew’s Jeffrey Passel and D’Vera Cohn, the annual inflow of unauthorized immigrants dropped by two-thirds during 2007-09 compared to 2000-05. That plunge has contributed to an overall decline in the total number of illegal immigrants in the United States from a peak of 12 million in March 2007 to 11.1 million in March 2009. Pew calls this “the first significant reversal in the growth of this population over the past two decades.” Advocates of more restrictive immigration policies have been quick to credit increased enforc... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3924886 Wed, 01 Sep 2010 20:06:32 +0100 3924886 http://www.medworm.com/index.php?rid=3911683&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FlTZULwHrnwU%2F By Daniel IkensonAs usual, Dan Griswold does an excellent job today correcting fallacies about trade and the trade deficit that continue to be perpetuated in the mainstream media (particularly at the Washington Post).   I just want to add my two cents without belaboring any of Dan’s succinctly-made points.  (Besides, I’ve harped on and on and on and on and on about the problem of trade reporting this year.) It’s a shame that so much time and energy has to be diverted to cleaning up messes left by reporters and editors, who should know better by now. The bottom line is that neither imports nor trade deficits cause U.S. job loss or slower economic growth.  If anything, the charts below (all compiled from BEA and BLS data) support the conclusion that imports and the trade deficit ris... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3911683 Fri, 27 Aug 2010 18:12:48 +0100 3911683 http://www.medworm.com/index.php?rid=3896059&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F08%2F23%2Finvestors-flee-stock-market-theyre-crazy-of-course%2F New cartoon by Trussell & Trussell on Politics Daily. Investors Flee Stock Market: They’re Crazy, of Course. Filed under: Politics Daily Tagged: 401k, bear market, comics, economy, investing, political cartoon, recession, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3896059 Tue, 24 Aug 2010 03:24:34 +0100 3896059 http://www.medworm.com/index.php?rid=3891804&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F08%2F23%2Fentitlements-or-tax-cuts-lets-get-ready-to-rumble%2F New cartoon by Trussell & Trussell on Politics Daily. Entitlements? Or Tax Cuts? Let’s Get Ready to Rumble! Filed under: Politics Daily Tagged: budget, comics, deficit, economy, entitlements, humor, political cartoon, tax cuts (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3891804 Mon, 23 Aug 2010 06:12:16 +0100 3891804 http://www.medworm.com/index.php?rid=3880848&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fp5bmoVU2B2s%2F China is now officially the world’s second largest economy, overtaking Japan in the quarter that ended in June and likely for all of 2010. While the story has been widely reported (more than 1,500 articles on Google News this morning), it is less significant than it first appears. The news will probably ruffle the feathers of the China hawks, who will see in it a threat to America’s influence in the world, but China’s rise to no. 2 is really another sign of the world returning to normal. China is home, after all, to one-fifth of mankind. Its population of 1,330 million is more than 10 times that of Japan (127 million) and more than four times that of the United States (310 million), according to the CIA Factbook. So even though China’s gross domestic product is now larger than Japa... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3880848 Mon, 16 Aug 2010 16:24:11 +0100 3880848 http://www.medworm.com/index.php?rid=3868905&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F08%2F15%2Feconomy-still-going-down-except-for-this%2F New cartoon by Trussell & Trussell on Politics Daily. Economy: Still Going Down…Except For This. Would you like fries with that portfolio? Filed under: Politics Daily Tagged: babyboomer, comics, economy, financial advisor, humor, political cartoon, recession, retirement (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3868905 Sun, 15 Aug 2010 16:37:24 +0100 3868905 http://www.medworm.com/index.php?rid=3861995&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQ3W4SYstG6M%2F By Daniel GriswoldIt has become conventional wisdom that a rising trade deficit is bad news for the economy. This week’s announcement of an expanding deficit in June prompted such headlines today as this one in the news pages of the Wall Street Journal: “Wider Trade Gap Signals Weak Growth.” As my colleague David Boaz blogged earlier today, the trade deficit is even blamed for daily swings in the stock market. I’ve been studying and writing about the trade deficit for years, and devoted a whole chapter of by 2009 Cato book Mad about Trade to the subject, and I keep coming back to a basic question: If the trade deficit signals weak growth, why does the U.S. economy seem to perform so much better during periods when the trade deficit is growing, and so much worse when the trade defic... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3861995 Thu, 12 Aug 2010 20:32:45 +0100 3861995 http://www.medworm.com/index.php?rid=3861996&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7JRVnrsWLHs%2F By Tad DeHavenThe White House Office of Management and Budget homepage currently features the following quote from the president: President Obama says he wants to “invest in our people without leaving them a mountain of debt.” That’s a curious statement because the Congressional Budget Office’s analysis of the president’s current budget proposal projects that publicly held debt as a share of the economy would reach levels last seen at the end of the Second World War. When the CBO’s numbers are plugged into a bar chart, the projected Obama debt levels (red bars) look like…the upward slope of a mountain (!): To be fair, Obama’s predecessors — particularly the previous Bush administration — share in the responsibility for the mountainous rise in federal debt. How... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3861996 Thu, 12 Aug 2010 19:34:32 +0100 3861996 http://www.medworm.com/index.php?rid=3858142&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FcCf6h1Zwm2w%2F By Tad DeHavenThe Bureau of Economic Analysis latest release of industry compensation levels shows that the average federal worker ranks up at the top along with employees in the finance and energy industries. That’s not exactly popular company these days. The BEA presents compensation data for 72 industries that span the U.S. economy. Figure 1 shows the 20 industries with the highest levels of average compensation, which includes wages and benefits. It also shows the average for all U.S. private industries and the average for the industry with the lowest compensation. (The names of the industries have been simplified in some cases). Federal civilian workers have the sixth highest average compensation of the 72 industries: As yesterday’s post showed, federal employee compensation has ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3858142 Wed, 11 Aug 2010 12:25:42 +0100 3858142 http://www.medworm.com/index.php?rid=3827043&cid=t_113027_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Fcar-thieves-disregard-environment-prefer-gas-guzzlers-to-hybrids%2F photo: Thinkstock Yet another reason to pat yourself on the back for buying a fuel-efficient car: It’s less likely to get stolen. A new report from the Highway Loss Data Institute shows that crooks are way more likely to jack a flashy, gas-guzzling SUV — like an Escalade — than they are to steal a sensible, sedate hybrid, like a Prius. This just shows that car thieves are dumber than we thought. If you’re so broke that you need to steal some wheels, you really should choose the make and model that will get you the best mileage. via Grist Post from: BlissTree Car Thieves Disregard Environment, Prefer Gas-Guzzlers to Hybrids (Source: Breastfeeding 1-2-3) Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3827043 Thu, 05 Aug 2010 19:34:25 +0100 3827043 http://www.medworm.com/index.php?rid=3822909&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fe5AI4U4Lm2Q%2F By Daniel GriswoldIn a bid to revive their sagging election prospects, congressional Democrats have hit on the theme of promoting domestic U.S. manufacturing. As a front-page story in the Washington Post reports today, the party has adopted the bumper-sticker slogan, “Make It in America.” I’m all for making things in America, when it makes economic sense to do so. But the Democratic plan opens a window for all sorts of government intervention, including trade barriers, higher taxes on U.S.-owned affiliates abroad, and subsidies for “clean energy” and make-work infrastructure projects. The campaign relies on two major but faulty assumptions: That U.S. manufacturing is in deep trouble, and that creating more manufacturing jobs is the key to prosperity. Neither assumption is true. A... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3822909 Wed, 04 Aug 2010 15:52:32 +0100 3822909 http://www.medworm.com/index.php?rid=3772421&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F07%2F20%2Fdemocrats-to-middle-class-yes-we-can-ignore-you%2F New cartoon by Trussell & Trussell on Politics Daily. Democrats to Middle Class: Yes, We Can . . . Ignore You. Filed under: Politics Daily Tagged: comics, congress, democrat, economy, foreclosure, middle class, political cartoon, recession, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3772421 Wed, 21 Jul 2010 04:16:37 +0100 3772421 http://www.medworm.com/index.php?rid=3772225&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FvmgJCdZRqBQ%2F By Jim HarperThat would be the message if a bill introduced in Congress this week were to pass. H.R. 5777 is the “Building Effective Strategies To Promote Responsibility Accountability Choice Transparency Innovation Consumer Expectations and Safeguards Act” or the “BEST PRACTICES Act.” If acronyms were a basis for judging legislation, it should be widely hailed as a masterwork. But its substance is concerning, to say the least. The bill’s scope is massive: Just about every person or business that systematically collects information would be subject to a new federal regulatory regime governing information practices. By systematic, I mean: If you get a lot of emails or run a website that collects IP addresses (and they all do), you’re governed by the bill.... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3772225 Tue, 20 Jul 2010 15:34:40 +0100 3772225 http://www.medworm.com/index.php?rid=3757850&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fg0Zva-ruO1Q%2F By Tad DeHavenA recent paper by Veronique de Rugy examines how policymakers use various budgeting gimmicks to increase spending and obscure liabilities. One particularly abusive mechanism is the designation of supplemental spending as an “emergency.” The emergency designation makes it easier for policymakers to skirt budgetary rules, particularly “pay-as-you-go” (PAYGO) requirements. The following chart from the paper shows how supplemental spending, most of which was designated as “emergency,” has taken off in the last decade: As the chart notes, much of the increase is attributable to supplemental appropriations for the wars in Iraq and Afghanistan. The Bush administration was rightly criticized by analysts across the ideological spectrum for funding the wars outside of the ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3757850 Thu, 15 Jul 2010 16:59:40 +0100 3757850 http://www.medworm.com/index.php?rid=3740586&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FagFLKs_-eOw%2F By Tad DeHavenPaul Krugman dismisses concerns that the Obama administration’s fiscal and regulatory policies are fostering uncertainty in the business community, and thus inhibiting job growth and an economic recovery. My Cato colleagues and I have been citing this “regime uncertainty” for a while now, and it is gaining mainstream acceptance as evidenced by a recent Washington Post editorial. I have pointed to surveys of small businesses conducted by the National Federation of Independent Business. The businesses surveyed continually cite the combination of government taxes and regulations as their “single most important problem.” However, Krugman looks at the NFIB’s most recent survey and comes away with a different conclusion: Or read through the latest survey of small busine... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3740586 Fri, 09 Jul 2010 19:05:30 +0100 3740586 http://www.medworm.com/index.php?rid=3730048&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F07%2F06%2Frecession-hits-terrorists-too-2%2F New cartoon by Trussell & Trussell on Politics Daily. Recession Hits Terrorists, Too. Like other businesses, they’re doing more with less. Filed under: Politics Daily Tagged: cartoon, chaos theory, economy, humor, oil spill, recession, terrorist, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3730048 Tue, 06 Jul 2010 16:25:03 +0100 3730048 http://www.medworm.com/index.php?rid=3730040&cid=t_113027_134_f&fid=35187&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FDiabetesDaily%2F%7E3%2FoErQAttExX8%2Fside-conversations-socioeconomics.php Not everyone has the opportunities to stay healthy like my husband and I do, what with excellent health insurance with a low deductible, a decent grocery budget, and an elliptical machine at home.  If you are reading this, it is most likely that not everyone has the opportunities to stay healthy like you do either.  After all, you can find an internet connection to read this blog or to peruse the message boards here at Diabetes Daily, right?  Yes, I know a few of you live close to the edge as far as being able to pay for even the most basic of diabetes supplies, looking for support online via free connections at the public library or with free WIFI. This is about people like you.***Finding ways to help those less fortunate afford basic diabetes care is of great importance to... Diabetes Daily blogs http://www.medworm.com/rss/comments.php?id=3730040 Tue, 06 Jul 2010 12:24:00 +0100 3730040 http://www.medworm.com/index.php?rid=3721752&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwM6AsjYwBcE%2F By Roger PilonToday, Politico Arena asks a second question: What does Obama need to do on jobs? My response: What does Obama need to do on jobs? Asked about that in his Arena interview today, Rep. Rob Andrews (D-N.J.) answers, “The best thing we could do is encourage banks to lend money.” Encourage them? Banks don’t need to be encouraged: if they can make money by lending it, they will. But that’s just the problem. The regulatory climate under Obama is so uncertain that capital isn’t moving. Andrews adds that “we need to stimulate,” as if we hadn’t already massively stimulated with little to show but massive debt.  And he says that “the Wall Street reform bill will help.” Apparently he hasn’t read Stanford economist John B... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3721752 Fri, 02 Jul 2010 19:21:52 +0100 3721752 http://www.medworm.com/index.php?rid=3718380&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_qZfqtnCi-s%2F By Daniel IkensonSteven Pearlstein’s ready for the nuclear option.  With the conviction of a man who knows he won’t be held accountable for the consequences of his prescriptions, Pearlstein says the time has come for action against China.  Hopefully, those whose fingers are actually near the button will recognize Pearlstein’s suggestion for what it is: an outburst of frustration over what he considers China’s insubordination. In his Washington Post business column yesterday, Pearlstein criticizes U.S. policymakers for blindly adhering to the view that China will inevitably transition to democratic capitalism, while they’ve excused market-distorting protectionism, mercantilism, and state dominance over the economy in China.  Pearlstein writes: Up to now, a succession of adminis... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3718380 Thu, 01 Jul 2010 19:31:44 +0100 3718380 http://www.medworm.com/index.php?rid=3710607&cid=t_113027_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2010%2F06%2F29%2Fbest-of-our-blogs-june-29-2010%2F How do you handle the daily stresses in your life? Are you a hide under the covers person, a problem-solver, or a face things head on warrior? Or maybe you’re a little of all three depending on the situation. What surprises me is that no matter how healthy we’ve become through therapy or how advanced we are as a society, there is still a lot we can do to be and do better. There are, for example, still roadblocks ahead concerning mental health stigma. On top of that there’s the economy, natural disasters, and the oil spill, oh my!  With the weight of the world on our shoulders adding significant baggage to our already piled up plate of worries, perhaps now more than ever, quoting the title of the 1965 Beatles song, “What the World Needs Now is Love.” Yes we de... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=3710607 Tue, 29 Jun 2010 11:25:40 +0100 3710607 http://www.medworm.com/index.php?rid=3699547&cid=t_113027_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2010%2F06%2F25%2Fbest-of-our-blogs-june-25-2010%2F Well it’s here! We’re officially in the midst of summer. In fact, we’re almost at the end of June. July here we come! Yet, for some of us summer doesn’t automatically mean fun. There’s the oil spill, for example, the economy and everything else on the news. Added to that are our plain old daily concerns on everything from our weight to our empty wallets. Yes, we definitely need an extra boost to have fun as adults. It’s not just about ice-cream cones or playing in the sand anymore, but that doesn’t mean it’s impossible. If we have to work harder to have fun than so be it. We deserve to play as much as any kid out there! Even if you can’t get away this summer because the cost of a vacation is just too much for you this year, there’... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=3699547 Fri, 25 Jun 2010 11:41:48 +0100 3699547 http://www.medworm.com/index.php?rid=3671667&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FprkUzeHU1-8%2F By Gerald P. O'DriscollTwo articles in today’s Wall Street Journal deal with the housing sector.  They complement each other. Journal reporters note that “Industry Speeds Recovery, And Housing Slows It Down.”  The story notes that that “ground-breaking for new homes and applications for building permits both plunged last month.”  Meanwhile, U.S. industrial output showed strong growth in May. Bravo for both numbers, which are inter-related.  The headline (over which reporters have no control) reflects conceptual confusion.  U.S. industrial production is strong at least in part because construction of new homes is weak.   The bloated home sector is no longer absorbing a disproportionate share of economic resources.  The new homeowners tax credit has m... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3671667 Thu, 17 Jun 2010 19:08:14 +0100 3671667 http://www.medworm.com/index.php?rid=3662986&cid=t_113027_180_f&fid=38610&url=http%3A%2F%2Fwww.productivity501.com%2Fnever-hire-an-mba%2F7918%2F Conclusion What if you are looking to get an MBA? I don’t want to make it sound like an MBA education isn’t valuable.  There are a lot of worthwhile things you can learn getting an MBA.   It can do a lot to strengthen your existing skill set–particularly if you are already practicing an on-the-job MBA approach. But, if you have no skills in running a business today, getting an MBA isn’t going to change that. If you are looking to hire someone, don’t overlook them simply because they have an MBA, but at the same time don’t over-value their degree and let it blind you to their actual real-life skills. You can follow us on Facebook for quotes, links, and contests. If you liked this, please consider sharing it with others: --- at ... Productivity501 blogs http://www.medworm.com/rss/comments.php?id=3662986 Tue, 15 Jun 2010 12:45:08 +0100 3662986 http://www.medworm.com/index.php?rid=3629622&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FlozD2SQ86hs%2F By Christopher PrebleOver at National Journal’s National Security Experts blog, this week’s question revolves around the health of the U.S. economy, and its relationship to U.S. power.  The editors ask:  How serious a threat is the mounting debt to the nation’s standing as the world’s only superpower? Can the U.S. continue to spend more than all other countries combined on its military forces given burdensome debt levels? In what other ways does the mounting debt undermine the country’s strategic position? [...] My response: Our long-term fiscal imbalance, which increasingly amounts to a massive intergenerational wealth transfer, is clearly a sign of our decline. But it is a decline that has been a long time coming. (I first wrote about the insolvency of t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3629622 Thu, 03 Jun 2010 15:51:45 +0100 3629622 http://www.medworm.com/index.php?rid=3607800&cid=t_113027_147_f&fid=39202&url=http%3A%2F%2Fnicolaziady.wordpress.com%2F2010%2F05%2F26%2Fgoogle-revenue-peaks-by-23-in-q1-2010%2F According to a report in the San Jose Mercury News, the search giant saw revenues increase by 23 percent in the first quarter of 2010 over last year while also increasing the size of their work force by four percent since the start of the year. While the revenue increases are not at the level of 40 percent growth routinely seen in the past, it does reverse a trend of declining revenues which started at the beginning of 2009. Google says that larger advertisers are returning to online spending “in droves” as the economy appears to have weathered the worst effects of the recent recession. “As we enter 2010, it’s really clear that the digital economy continues to grow rapidly,” said Patrick Pichette, Google’s chief financial officer. “It’s been ... Nicola Ziady blogs http://www.medworm.com/rss/comments.php?id=3607800 Thu, 27 May 2010 02:19:21 +0100 3607800 http://www.medworm.com/index.php?rid=3585593&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FlcBbCg8vZf8%2F By Daniel IkensonIn honor of World Trade Week—and for its decreed purpose of educating Americans about trade—this post is about U.S. trade policy working at cross-purposes with other policies or goals of the administration. So numerous are these examples of trade policy dissonance, that a committed wonk could devote an entire website to the task of documenting them. If the administration were serious about making trade policy work—rather than just paying it lip service—it would compile its own exhaustive list of laws, regulations, policies, and practices that actually undermine its stated objectives of facilitating economic growth, investment, and job creation through expanded trade opportunities. Then, it would make the changes necessary to ensure that our policies are paddling in... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3585593 Thu, 20 May 2010 21:11:06 +0100 3585593 http://www.medworm.com/index.php?rid=3564097&cid=t_113027_127_f&fid=38263&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fdeepesthealth%2FBMCc%2F%7E3%2FCLGcaTsVz8E%2F Hey everyone, So – the Deepest Health redesign is well underway, though obviously you’re not seeing the results, yet.  I did a Yijing reading to help guide me, and through it the Universe made quite clear that a good deal of planning, gathering the troops and careful, thoughtful action is going to be necessary to make this thing work.  I think you’ll all be pleased with the results.  Well, most of you. Anyway.  What can I say?  Stay tuned. — On another note… I’ve been thinking quite a bit about the whole issue of charging money for what we do as acupuncturists, herbalists and other assorted healing types.  It’s through the compassionate work and ongoing friendship of Brandt Stickley that I keep having the opportunity to think through why I do... Deepest Health: Exploring Classical Chinese Medicine blogs http://www.medworm.com/rss/comments.php?id=3564097 Thu, 13 May 2010 16:47:29 +0100 3564097 http://www.medworm.com/index.php?rid=3556068&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FmkI2yEpfDsM%2F By Chris Moody A few questions to ask Supreme Court nominee Elena Kagan. How to treat a taxaholic. In England there are 4 million government security cameras, one for every 14 Britons. Are we headed in that direction? The E.U.’s aggressive bailout plan: An experiment in levitation? Podcast:“Understanding ‘Epistemic Closure’” featuring Julian Sanchez. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3556068 Wed, 12 May 2010 14:49:58 +0100 3556068 http://www.medworm.com/index.php?rid=3552431&cid=t_113027_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fyour-dental-team-wants-money-respect%2F “Dental Assisting Digest” compiled the top ten things dental assistants want their dentists to know. At the top of the list? You guessed it. Compensation. Assistants want to be paid well for their work. But how can you pay out when money isn’t coming in, at least not like it used to? Let’s see what the experts have to say about it… Linda Miles, formerly of Linda Miles & Associates and creator of Speaking and Consulting Network, says that 70% of dental practices have reduced hours, laid off employees, cut benefits, or put a freeze on raises. In “Times are tough – no raises this year,” Linda tells us that salary increases for dental professionals may not happen this year because of our lagging economy. She says that merit raises are a much better option than cost of livin... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=3552431 Tue, 11 May 2010 14:24:51 +0100 3552431 http://www.medworm.com/index.php?rid=3538059&cid=t_113027_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Funemployment-books-women-need-to-read-according-to-a-man%2F photo: Thinkstock This is Patrick Sauer’s fifth weekly column for Blisstree about books he thinks women should read. Find his previous installment on New Orleans here. Chapter 5: Unemployment If you swing from the left side of the plate – like, say, the author of this post – there’s a perplexing yin-and-yang to our current economy. On the one hand, you want to believe all the rosy economic reports, because without a rebound, Barry will have to go back to Kenya after a single term. On the other hand, does it feel any different out there with regard to gainful employment? Granted, I subsist in the freelance magazine writing world, which is rapidly going the way of switchboard operators, typewriter repairmen, and doffers. My career path aside, however, I haven’t heard a peep from fr... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3538059 Wed, 05 May 2010 22:00:05 +0100 3538059 http://www.medworm.com/index.php?rid=3508170&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F8HNZ9mjg9tw%2F By Cato EditorsRecently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. Rep. Ron Paul (R-TX) has introduced a bill calling for an audit of the Fed. Remarkably, there is significant opposition to such oversight, and the political prospects for undertaking such an audit are relatively bleak. In a new paper, Cato scholar Arnold Kling examines the processes and outcomes on which an audit should focus, and looks at opposition to the audit: We should document why the Fed took each step, what the expected results were, and whether those results were achieved. …The profit or loss of the Fed’s investments would provide a very helpful indicator of whether the Fed’s actions served the economy as a whole or merely transferred ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3508170 Tue, 27 Apr 2010 15:36:50 +0100 3508170 http://www.medworm.com/index.php?rid=3499061&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fp482CAov00A%2F By David BoazToday in Washington: actress Sigourney Weaver testifies before the  Subcommittee on Oceans, Atmosphere, Fisheries, and Coast Guard of the Senate Committee on Commerce, Science and Transportation Committee on the topic of ocean acidification. Because, you know, she played an environmental scientist in Avatar. It’s the best fit since Jane Fonda, Jessica Lange, and Sissy Spacek — all of whom had played farm women — testified on America’s agricultural crisis. Congress doesn’t have time to vote on presidential nominations. It doesn’t bother engaging in serious oversight of presidential power and civil liberties abuses. It looks at the ceiling and whistles as the national debt approaches Greek levels. But members of Congress have time to listen ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3499061 Thu, 22 Apr 2010 16:02:14 +0100 3499061 http://www.medworm.com/index.php?rid=3494510&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F04%2F21%2Fdemocrats-and-the-economy-its-always-happy-hour%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Democrats and the Economy: It’s Always Happy Hour. Filed under: Politics Daily Tagged: chaos theory, deficit, democrats, economy, national debt, political cartoon (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3494510 Wed, 21 Apr 2010 21:20:42 +0100 3494510 http://www.medworm.com/index.php?rid=3471773&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FZJX3Cujvcks%2F By Neal McCluskeyWe were warned. When Washington passed the so-called “stimulus” bill, with its tens-of-billions for K-12 education, we were warned that the money wouldn’t just provide a one-time infusion of supposedly economy-saving cash. No, it would furnish a towering new spending floor for already super-funded government schools and numerous other beneficiaries. Well here come the sky lifts again. According to Education Week, Senator Tom Harkin (D-IA) is pushing legislation that would pile $23 billion in new federal funding into education once the stimulus cash dries up. And this money — which, of course, we don’t actually have – is intended not only to protect the jobs of teachers and other staff, but add even more employees to the obscene j... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3471773 Wed, 14 Apr 2010 18:07:22 +0100 3471773 http://www.medworm.com/index.php?rid=3463576&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGc3yNwm3Qa0%2F By Mark A. CalabriaThe extent to which government spending either complements or crowds out private investment has long been one of the most heated debates in economics (and politics).  Generally economic theorists posit that an increase in government spending drives up interest rates, which increases the cost of private investment, accordingly reducing such investment.  Most macroeconomic models are build on this relationship.  In an interesting new working paper, a trio of economists attack the question from a different angle.  They measure the impact of increased earmarks on the local economy receiving those earmarks, and compare the impact to areas not receiving the increased earmarks, which allows them to control for the overall macroeconomic environment.  Their finding: even in... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3463576 Tue, 13 Apr 2010 12:38:20 +0100 3463576 http://www.medworm.com/index.php?rid=3440775&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FejU82fKB-00%2F By Ilya ShapiroAs we enjoy the opening week of the new baseball season, we should reflect on the dastardly organization that spends too much money and raises the price of baseball for everyone. No, it’s not the New York Yankees: it’s the United States government. You see, as discussed in this recent New York Times op-ed, the price of baseball has increased all across the Major Leagues because of the tax write-off (read: subsidy) that businesses get to treat clients and employees to ball games: There are many reasons for the price explosion, but a critical factor has been the ability of businesses to write off tickets as entertainment expenses — essentially a huge, and wholly unnecessary, government subsidy. These deductions have led to higher ticket prices in two ways. On the demand... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3440775 Tue, 06 Apr 2010 12:35:21 +0100 3440775 http://www.medworm.com/index.php?rid=3424826&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAnyLYO3C5J0%2F By Chris Moody John McCain channels Dick Cheney: On March 4, McCain introduced a bill that  “would require that anyone anywhere in the world, including American citizens, suspected of involvement in terrorism — including ‘material support’ (otherwise undefined) — can be imprisoned by the military on the authority of the president as commander in chief.” President Obama declared passage of a major student-aid reform law yesterday. Will it help? Cato education expert Neal McCluskey calls it a mixed bag. Thought experiment: Let’s say for a moment that Congress could actually repeal the health care overhaul. What should they put in its place? Should Congress pursue a constitutional amendment that would limit federal spending to one-fifth of the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3424826 Wed, 31 Mar 2010 16:09:38 +0100 3424826 http://www.medworm.com/index.php?rid=3403862&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F7qokWFmTTM0%2F By Chris Moody Too bad no one saw this coming: Social Security is now in the red. Now that the health care bill is law, you should know exactly how it’s going to affect you, your premiums, and your coverage over the next few years. Here’s a helpful breakdown. As the health care overhaul crosses home plate, global warming legislation steps up to bat. Appreciate this: Chinese currency rise will have a negligible effect on the trade deficit. For more, read the whole paper. Podcast:  “A Plea for Divided Government” featuring John Samples, author of the forthcoming book The Struggle to Limit Government. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3403862 Thu, 25 Mar 2010 15:43:18 +0100 3403862 http://www.medworm.com/index.php?rid=3398877&cid=t_113027_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Fwill-work-for-money%2F Tired of lounging on the sofa all day eating bonbons? Or perhaps you spend your days on hold waiting for a representative from the Department of Labor’s unemployment office to answer. Whatever the motivation, you should know which professions are actively hiring in today’s shaky economy. But you’ll have to do the rest – we can’t forcibly remove those bonbons from your grasp. Image: istockphoto According to a survey by Robert Half International and featured on Forbes, the legal arena is the best place to begin your job hunt. From administrative work to lucrative lawyering posts, many gigs are up for grabs. Not surprisingly, the legal world is bustling due to the overload of foreclosures and bankruptcies. If the thought of working at a law firm makes your skin crawl... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3398877 Wed, 24 Mar 2010 03:30:06 +0100 3398877 http://www.medworm.com/index.php?rid=3399035&cid=t_113027_117_f&fid=37824&url=http%3A%2F%2Fwww.doctorkalitenko.com%2Fblog%2Fgeneral-health%2Fhow-do-we-survive-economic-impact The outlook for 2010 is bleak. Homes will continue to be foreclosed, jobs will be lost, and less money will be flowing as compared to years past. Also inevitable: we will get another year older. Bad news, right? Not really! Though we may not be able to control the outside elements that affect our lives and the world around us, we can do something to make sure than in the survival of the fittest, we are, indeed, the fittest we can be. To thrive this year, we need to be better than we have been. We need to make sure that we take care of our bodies, our minds, and our relationships. We need to do something practical to help our situation: 1.    Eat better. The foods we eat not only give us essential vitamins, but help our bodies to function better, including vegetables, lean organic meats... Doctor Kalitenko antiaging blog blogs http://www.medworm.com/rss/comments.php?id=3399035 Tue, 23 Mar 2010 17:41:47 +0100 3399035 http://www.medworm.com/index.php?rid=3390818&cid=t_113027_109_f&fid=34786&url=http%3A%2F%2Fdrmichelletempest.blogspot.com%2F2010%2F03%2Fcountryside.html Today it has felt as if spring has arrived. In North West Durham we are lucky to have some of the most picturesque landscapes in Great Britain. However, this Labour government does not seem to have understood the rural communities nor rural issues. Professor Robert Huggins, who devised and compiled the UK Competitiveness Index, suggested that urban development has been at the expense of rural areas, stating that 'local economies in rural areas are suffering from declining competitiveness.' Perhaps it's not just time for a change of season, but also a time for a change in government. (Source: The Psychiatrist Blog) The Psychiatrist Blog blogs http://www.medworm.com/rss/comments.php?id=3390818 Sun, 21 Mar 2010 18:46:00 +0100 3390818 http://www.medworm.com/index.php?rid=3382796&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FT8OxLguD9zw%2F By Jim HarperWriting on the TechLiberationFront blog, Berin Szoka warns of the extensive Internet regulation that could come with huge grants of authority to the Federal Trade Commission in H.R. 4173, the “Wall Street Reform and Consumer Protection Act of 2009.” Congress is about to reinvent the FTC as the “National Nanny” it was well on its way to becoming back in the 1970s.  Today, the FTC is not merely the general overseer of our economy, but the key regulator of the Internet.  If the Senate passes Rep. Frank’s bill with its so-called “improvements” to the FTC Act, future generations will look back and wonder why, without even taking the time to consider what it was doing, Congress radically transformed Internet governance as an afterthought to financial regulat... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3382796 Fri, 19 Mar 2010 14:53:09 +0100 3382796 http://www.medworm.com/index.php?rid=3370398&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyEAbPg2TBEY%2F By Chris EdwardsThe head of the federal Office of Personnel Management, John Berry, has become unhinged by a few recent critiques of federal worker pay. Berry is an Obama appointee who apparently views his role as being a one-sided lobbyist for worker interests, rather than a public servant balancing the interests of taxpayers and federal agencies. Here is an 11-minute audio interview with Berry on Federal News Radio on Friday, where he lashes out at USA Today, Washington Times, and the Cato Institute. Berry is defensive, emotional, and unwilling to accept that new data might indicate a possible problem with the underpaid federal worker thesis that is constantly pushed by the unions. What do I mean when I say he is unhinged? An investigation by the USA Today found that in 83 percent of 216... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3370398 Mon, 15 Mar 2010 20:42:09 +0100 3370398 http://www.medworm.com/index.php?rid=3350256&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4X94fxr3RvI%2F By Tad DeHavenLast week, after Rep. Barney Frank (D-MA) said that holders of Fannie Mae and Freddie Mac’s debt shouldn’t be expected to be treated the same as holders of U.S. government debt, the U.S. Treasury took the “unusual” step of reiterating its commitment to back Fannie and Freddie’s debt. If ever there was case against allowing a few hundred men and women to micromanage the economy, this is it. Fannie and Freddie, which are under government control, are being used to help prop up the ailing housing market. If investors think there’s a chance Uncle Sam won’t back the mortgage giants’ debt, mortgage interest rates could rise and demand for housing dampen. Therefore, Frank’s comments caused a bit of a stir. However, with the government bailing out anything that walk... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3350256 Wed, 10 Mar 2010 15:28:59 +0100 3350256 http://www.medworm.com/index.php?rid=3346514&cid=t_113027_109_f&fid=34786&url=http%3A%2F%2Fdrmichelletempest.blogspot.com%2F2010%2F03%2Fengineering-excellence.html Sir James Dyson completed a report for David Cameron highlighting the importance of science to help diversify the economy. Dyson has called for more support for science teachers and tax breaks for high-tech firms to conduct research to encourage an economy where Britain designs, makes and sells.Among the report's key recommendations are greater financial and regulatory freedom for universities to promote investment in science and engineering, public-private institutes to help translate research into commercial opportunities and more generous tax relief for investors in start-up and established high-tech firms.David Cameron summarised "I think we have a choice where we go on as we are borrowing money from the Chinese to buy their products, or we can say 'no - wait - this is actually a count... The Psychiatrist Blog blogs http://www.medworm.com/rss/comments.php?id=3346514 Tue, 09 Mar 2010 16:05:00 +0100 3346514 http://www.medworm.com/index.php?rid=3346446&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_2rkEyE6Yn4%2F By David Boaz“Michael Foot, a bookish intellectual and anti-nuclear campaigner who led Britain’s Labour Party to a disastrous defeat in 1983, died [March 3],” reported the Associated Press. He was 96. Foot personified the socialist tendency in the Labour Party, which Tony Blair successfully erased when he won power at the head of a business-friendly, interventionist “New Labour.” Yet Foot remained a respected, even revered, figure. “Michael Foot was a giant of the Labour movement, a man of passion, principle and outstanding commitment to the many causes he fought for,” Blair said Wednesday. Prime Minister Gordon Brown, Blair’s partner in creating “New Labour,” praised Foot as a “genuine British radical” and a “ma... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3346446 Mon, 08 Mar 2010 21:40:51 +0100 3346446 http://www.medworm.com/index.php?rid=3339774&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F03%2F07%2Fwhen-banks-go-bad%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. When Banks Go Bad. Filed under: Politics Daily Tagged: chaos theory, economy, great depression, political cartoon, recession, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3339774 Sun, 07 Mar 2010 16:16:06 +0100 3339774 http://www.medworm.com/index.php?rid=3331536&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F03%2F04%2Foh-by-the-way-dr-obama-code-blue%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Oh, by the Way, Dr. Obama, CODE BLUE. Filed under: Politics Daily Tagged: chaos theory, economy, great depression II, health care reform, obama, political cartoon, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3331536 Thu, 04 Mar 2010 17:55:09 +0100 3331536 http://www.medworm.com/index.php?rid=3331275&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fu3lFBBg7i2M%2F By Chris Edwards1. Additional federal spending transfers resources from the more productive private sector to the less productive public sector of the economy. The bulk of federal spending goes toward subsidies and benefit payments, which generally do not enhance economic productivity. With lower productivity, average American incomes will fall. 2. As federal spending rises, it creates pressure to raise taxes now and in the future. Higher taxes reduce incentives for productive activities such as working, saving, investing, and starting businesses. Higher taxes also increase incentives to engage in unproductive activities such as tax avoidance. 3. Much federal spending is wasteful and many federal programs are mismanaged. Cost overruns, fraud and abuse, and other bureaucratic failures are e... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3331275 Wed, 03 Mar 2010 19:34:12 +0100 3331275 http://www.medworm.com/index.php?rid=3331276&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPF4QysQiVgg%2F By Daniel J. MitchellFiscal crises have a predictable pattern. Step 1 occurs when the economy is prospering and tax revenues are growing faster than forecast. Step 2 is when politicians use the additional money to increase government spending. Step 3 is that politicians do not treat the extra tax revenue like a temporary windfall and budget accordingly.Instead, they adopt policies – more entitlements, more bureaucrats – that permanently expand the burden of the public sector. Step 4 occurs when the economy stumbles (in part because more resources are being diverted from the productive sector to the government) and tax revenues stagnate. If the resulting fiscal gap is large enough, as it is in places such as Greece and California, a crisis atmosphere is created. Step 5 takes pla... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3331276 Wed, 03 Mar 2010 18:53:29 +0100 3331276 http://www.medworm.com/index.php?rid=3306825&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2MkyOnb5OyQ%2F By John SamplesThe Washington Post offers an instructive campaign finance story this morning. The essence of the story: employees of banks and brokerage houses contributed more to candidate Barack Obama in 2008 than to his rival John McCain. A lot more in fact: such employees gave almost twice as much to the current president at they did to the Arizona senator. Now, however, President Obama is attacking the banks and Wall Street for greed and selfishness, not to mention for ruining the economy. Moreover, Obama is proposing curbs on Wall Street pay and heavy regulation of banks. It would appear, in other words, that contributions don’t buy many favors with this administration. But the story goes deeper. Wall Street is now shifting its contributions to the GOP.  That’s not surpr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3306825 Wed, 24 Feb 2010 20:46:17 +0100 3306825 http://www.medworm.com/index.php?rid=3302295&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FkCsNBMSpO9A%2F By Daniel J. MitchellLike the sequel to a horror film, the politicians in Washington are talking about just passed another stimulus proposal. Only this time, they’re calling it a “jobs bill” in hopes that a different name will yield a better result. But if past performance is any indicator of future results, this is bad news for taxpayers. By every possible measure, the first stimulus was a flop. But don’t take my word for it. Instead, look at what the White House said would happen. The Administration early last year said that doing nothing would mean an unemployment rate of nine percent. Spending $787 billion, they said, was necessary to keep the unemployment rate at eight percent instead. So what happened? As millions of Americans can painfully attest, the jobless rate actually c... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3302295 Wed, 24 Feb 2010 15:03:38 +0100 3302295 http://www.medworm.com/index.php?rid=3294567&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJHLF_KdSQt0%2F By Chris Moody Progressives are outraged that the Supreme Court overturned limits on corporate political advertising last month. Here’s why they should be rejoicing. Policy forum today at Cato: “Will the Senate Health Care Bill Keep the Poor Poor?” Click here to watch live from 12:00-1:30 PM EST. Idea of the day: Cut the Commerce Department to boost real business. Harvard economist Jeffrey Miron: “Economists find weak or contradictory evidence that higher government spending spurs the economy. Substantial research, however, does find that tax cuts stimulate the economy and that fiscal adjustments—attempts to reduce deficits by raising taxes or lowering expenditure—work better when they focus on tax cuts.” Cato’s Ilya Shapiro wrapping up daily... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3294567 Mon, 22 Feb 2010 17:19:30 +0100 3294567 http://www.medworm.com/index.php?rid=3283519&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNeVn2C_mCyo%2F By Neal McCluskeyWho said public schooling is all about the adults in the system and not the kids? Everyone knows it’s even more basic than that: Public schooling is a jobs program, pure and simple. At least, that’s what one can’t help but conclude as our little “stimulus” turns one-year old today. “State fiscal relief really has kept hundreds of thousands of teachers and firefighters and first responders on the job,” declared White House Council of Economic Advisers head Christina Romer today. Throwing almost $100 billion at education sure as heck ought to have kept teachers in their jobs, and the unemployment numbers suggest teachers have had a pretty good deal relative to the folks paying their salaries. While unemployment in “educati... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3283519 Wed, 17 Feb 2010 19:11:33 +0100 3283519 http://www.medworm.com/index.php?rid=3262606&cid=t_113027_87_f&fid=38368&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FDisruptiveWomenInHealthCare%2F%7E3%2Fu_-MtRoFi4o%2F One-third of Americans say they have received tests, treatment or medications they didn’t need, according to a survey conducted for the Commonwealth Fund of New York.  Are you one of them? Think about it.  We live in a market-driven economy where businesses thrive on getting us to consume more than we need, whether it’s a house that’s too big, a mortgage that’s unaffordable, or an investment that promises more than it can deliver.  Market-driven health care is motivated by the same imperative.  In our highly-caffeinated health care system, the mantra is volume, volume, volume.  That ‘volume’ is you and me, and the people we love. Here’s a story about a colleague, a research scientist, who has a heart condition that she watches very carefully. ... Disruptive Women in Health Care blogs http://www.medworm.com/rss/comments.php?id=3262606 Thu, 11 Feb 2010 13:21:46 +0100 3262606 http://www.medworm.com/index.php?rid=3262595&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFiR9DbyeQCY%2F By Neal McCluskeyAs I have explained on numerous occasions, supporters of the Student Aid and Fiscal Responsibility Act (SAFRA) – which would end federal guaranteed student loans, turn everything into lending direct from Uncle Sam, and spend the resulting savings and way much more — have often shamelessly promoted the bill as a boon to taxpayers when it will almost certainly cost them tens-of-billions.  Where they have generally been right is in rebutting criticisms that SAFRA would be a federal takeover of a private industry. With lender profits all but assured under federal guaranteed lending, the vast majority of student loans haven’t been truly private for decades. Unfortunately, SAFRA advocates are just as clueless — or, more likely, rhetorically unbridle... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3262595 Wed, 10 Feb 2010 18:08:23 +0100 3262595 http://www.medworm.com/index.php?rid=3243773&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FHiods2JjYpo%2F By Daniel J. MitchellThe new budget from the White House contains all sorts of land mines for taxpayers, which is not surprising considering the President wants to extract another $1.3 trillion over the next ten years. While that’s a discouragingly big number, the details are even more frightening. Higher tax rates on investors and entrepreneurs will dampen incentives for productive behavior. Reinstating the death tax is both economically foolish and immoral. And higher taxes on companies almost surely is a recipe for fewer jobs and reduced competitiveness. The White House is specifically going after companies that compete in foreign markets. Under current law, the “foreign-source” income of multinationals is subject to tax by the IRS even though it already is subject to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3243773 Thu, 04 Feb 2010 21:41:39 +0100 3243773 http://www.medworm.com/index.php?rid=3231452&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fd4QcrS6rXO8%2F By Chris EdwardsThe chart below shows federal spending in three component parts over the last five decades. It includes Obama’s proposed spending in 2011. Here are a few thoughts on the recent spending trends: Defense: In the post-9/11 years, defense spending bumped up to a higher plateau of around 4 percent of GDP. But now we have jumped to an even higher level of around 4.9 percent of GDP. Interest: The Federal Reserve’s easy money policies reduced federal interest payments in recent years. That is coming to an end. Obama’s budget shows that interest payments will start rising rapidly next year and hit 3 percent of GDP by 2015. And that’s an optimistic projection. Nondefense: This category includes all other federal spending. After a steady decline during... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3231452 Mon, 01 Feb 2010 22:05:55 +0100 3231452 http://www.medworm.com/index.php?rid=3231455&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaP89vCC3svc%2F By Tad DeHavenExactly two years ago, George W. Bush released his final budget. Here’s what the Washington Post had to say: [T]he president’s budget envisions a big jump in the budget deficit, from $163 billion in 2007 to about $400 billion in 2008 and 2009. Much of that increase will be the result of a slowing economy and a stimulus package expected to cost about $150 billion. Today’s release of President Obama’s FY 2011 budget shows that those deficit prognostications were way off: Instead of a “big jump” to $400 billion in 2009, the actual deficit turned about to be a trillion dollars higher. Bush deserves most of the blame for that deficit, but the 2010 and 2011 deficits will be on Obama. The frightening prospect is that, like Bush, Obama’s future budget projections w... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3231455 Mon, 01 Feb 2010 21:05:37 +0100 3231455 http://www.medworm.com/index.php?rid=3220513&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FF0xgKacsWZY%2F By Andrew J. CoulsonYesterday, the president proposed yet another big increase in federal education spending. The Washington Post quoted ”senior White House officials” as saying that the spending would boost “the nation’s long-term economic health.” I sent the story’s authors a blog post laying out the evidence that higher government spending hasn’t raised student achievement, and that if you don’t boost achievement, you don’t accelerate economic growth. Today, there is an updated version of the original WaPo story. It no longer mentions the stated goal of the spending increase. It doesn’t mention that boosting gov’t spending has failed to raise achievement, and so will fail to help the economy. But it does cite a single ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3220513 Thu, 28 Jan 2010 18:17:25 +0100 3220513 http://www.medworm.com/index.php?rid=3220515&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdC1O9e04uXY%2F By Cato EditorsCato experts put some of President Obama’s core State of the Union claims to the test. Here’s what they found. THE STIMULUS Obama’s claim: The plan that has made all of this possible, from the tax cuts to the jobs, is the Recovery Act. That’s right — the Recovery Act, also known as the Stimulus Bill. Economists on the left and the right say that this bill has helped saved jobs and avert disaster. Back in reality: At the outset of the economic downturn, Cato ran an ad in the nation’s largest newspapers in which more than 300 economists (Nobel laureates among them) signed a statement saying a massive government spending package was among the worst available options. Since then, Cato economists have published dozens of op-eds in major news outlets poking hol... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3220515 Thu, 28 Jan 2010 17:54:17 +0100 3220515 http://www.medworm.com/index.php?rid=3223468&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2010%2F01%2F27%2Fobamas-state-of-the-jungian%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Obama’s State of the Jungian. Posted in Politics Daily Tagged: chaos theory, economy, obama, political cartoon, recession, state of the union, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3223468 Wed, 27 Jan 2010 19:40:00 +0100 3223468 http://www.medworm.com/index.php?rid=3197610&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F46Mw8U1RmtU%2F By Daniel GriswoldThis has not been a good week for the national Democratic Party. Along with losing the Massachusetts Senate seat, the party took another step toward making hostility to trade liberalization a plank of party orthodoxy. As my Cato colleague Sallie James flagged earlier today, the Democratic Congressional Campaign Committee issued a press release yesterday criticizing a Republican candidate in upstate New York for contributing to the Cato Institute. And, of course, everyone knows that Cato is “a right wing extremist group that has long been a vocal advocate for extremist, unfair trade policies that would allow companies to ship American jobs overseas.” Among our sins, in the eyes of the DCCC, is that Cato research has supported tariff-reducing trade agreements, such as t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3197610 Thu, 21 Jan 2010 21:23:51 +0100 3197610 http://www.medworm.com/index.php?rid=3171876&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbUl0GoKWReI%2F By David BoazFormer secretary of state Madeleine K. Albright writes in Parade magazine that 20 years after the Berlin Wall, “We Must Keep Freedom Alive.” A commendable sentiment, but the article is a bit confused, notably in that it seems to use “freedom” and “democracy” interchangeably. But as Fareed Zakaria and Tom Palmer, among others, have demonstrated, they’re not the same thing. Freedom is the right and ability of individuals to make the important decisions about their lives. Democracy — especially constitutional democracy, with separation of powers, the rule of law, and constraints on government — can be the most effective way to protect liberty. But democracy isn’t liberty, and we shouldn’t confuse the relationship... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3171876 Thu, 14 Jan 2010 15:15:10 +0100 3171876 http://www.medworm.com/index.php?rid=3167090&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6hNK1oMEAhA%2F By Daniel IkensonWhy blame only media and politicians for the public’s confusion about imports and trade deficits? Surely economists deserve some scorn. Some of the misunderstanding can be traced to the famous National Income Identity, which expresses gross domestic product, as: Y = C + G + I + (X-M). That is, national output (Y) equals personal consumption (C) plus government spending (G) plus investment (I) plus exports (X) minus imports (M). The expression clearly lends itself to the wrong interpretation. The minus sign preceding imports suggests a negative relationship with output. It is the reason for the oft-repeated fallacy that imports are a drag on growth. Here’s why that conclusion is wrong. The expression is an accounting identity, which “accounts” for all of the... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3167090 Wed, 13 Jan 2010 15:03:39 +0100 3167090 http://www.medworm.com/index.php?rid=3167091&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FQeZ2wnw7yrk%2F By Tad DeHavenThe board game Monopoly first took off during the Great Depression. A different game has become popular during today’s Great Recession. In this game, politicians race against high unemployment to create jobs in order to save their own. The players (politicians) have unlimited tax and borrowing authority, and can call upon friendly economists to help them maneuver. The players even get to keep score, although the media can penalize shoddy scorekeeping. Ultimately, voters will decide which players win and lose in the fall elections. Okay, I’m being facetious. But as politicians continue to throw trillions of dollars at the economy in a vain effort to create jobs, and the media continues to go along with it by obsessing over meaningless job counts, the entire spectacle has b... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3167091 Wed, 13 Jan 2010 13:50:01 +0100 3167091 http://www.medworm.com/index.php?rid=3153354&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLE3EQtuGuQk%2F By Daniel GriswoldThe Center for American Progress and the Immigration Policy Center released a new study this morning that finds comprehensive immigration reform would boost the U.S. economy by $189 billion a year by 2019. The bottom-line results of the study are remarkably similar to those of a Cato study released last August. Titled “Raising the Floor for American Workers: the Economic Benefits of Comprehensive Immigration Reform,” the CAP study was authored by Dr. Raul Hinojosa-Ojeda of the University of California, Los Angeles. It finds that legalizing low-skilled immigration would boost U.S. gross domestic product by 0.84 percent by raising the productivity of immigrant workers and expanding activity throughout the economy. Using a different general-equilibrium model of the U.S. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153354 Thu, 07 Jan 2010 20:19:45 +0100 3153354 http://www.medworm.com/index.php?rid=3153355&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9SAHBGsYaRw%2F By Thomas FireyWashington is fretting this week over news that mortgage applications fell dramatically in November. Coupled with earlier indications of renewed softening in the housing market, there is growing fear that housing is headed for a “double-dip downturn” that could further damage the economy. As a result, Federal Reserve policymakers are considering additional stimulus, while the National Association of Realtors is suggesting an(other) extension of the “temporary” homebuyer tax credit. Remarkably, neither policymakers nor the media are asking the obvious question: Given all of the emergency interventions in housing that government has undertaken, and the fact that the housing market continues to erode, do such interventions do much good? Since... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153355 Thu, 07 Jan 2010 19:44:22 +0100 3153355 http://www.medworm.com/index.php?rid=3149034&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtVv87lxdqr0%2F By Daniel GriswoldThree items in the news this week remind us why we should be glad we live in a more global economy. While American consumers remain cautious, American companies and workers are finding increasing opportunities in markets abroad: Sales of General Motors vehicles continue to slump in the United States, but they are surging in China. The company announced this week that sales in China of GM-branded cars and trucks were up 67 percent in 2009, to 1.8 million vehicles. If current trends continue, within a year or two GM will be selling more vehicles in China than in the United States. James Cameron’s 3-D movie spectacular “Avatar” just surpassed $1 billion in global box-office sales. Two-thirds of its revenue has come from abroad, with France, Germany, and Russia the lea... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149034 Wed, 06 Jan 2010 19:02:52 +0100 3149034 http://www.medworm.com/index.php?rid=3111464&cid=t_113027_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F12%2F21%2Fmanaging-childrens-expectations-during-a-holiday-recession%2F This will not be a great Christmas for many families, due to another holiday season with the economy still in shambles. That is, if you believe that Christmas should be measured in the amount of gifts you give (or receive). And while most of us wouldn’t say we believe the number of gifts we give to our children is important, many still rely on quantity acting as some sort of indicator of parental worthiness. Psych Central writers have written before on this topic, doing Christmas on a budget and providing answers to people who believe simplifying during the holidays is just not possible. It is. And you should always set a budget for gift purchases every year (for all occasions, not just Christmas). “But what if that budget this year is smaller than in years past? Won’t m... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=3111464 Mon, 21 Dec 2009 18:00:22 +0100 3111464 http://www.medworm.com/index.php?rid=3104994&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2M-FiGahb1g%2F By Chris Moody How to manufacture a climate consensus: “The East Anglia emails are just the tip of the iceberg.” Forecast for Copenhagen: “Cloudy with a chance of nothing.” A tale of how far modern “constitutional law” has taken us toward the executive state. How the president’s policies are holding back the economy: “Right now, the best thing Washington can do for our economy is to simply stop what it has been doing.” Podcast: “Liberty, Tradition and Values“ (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3104994 Fri, 18 Dec 2009 17:22:40 +0100 3104994 http://www.medworm.com/index.php?rid=3104996&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSSVKuxXsqbI%2F By Roger PilonPolitico asks, “Was he convincing?” My response: In Copenhagen this morning, President Obama convinced only those who want to believe — of which, regrettably, there is no shortage.  Notice how he began, utterly without doubt:  “You would not be here unless you, like me, were convinced that this danger is real.  This is not fiction, this is science.”  The implicit certitude is no part of real science, of course.  But then the president, like the environmental zealots cheering him in Copenhagen, are not really interested in real science.  Theirs, ultimately, is a political agenda.  How else to explain the corruption of science that the East Anglia Climate Research email scandal has brought to light, and the efforts, presently, to dismiss the s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3104996 Fri, 18 Dec 2009 16:49:18 +0100 3104996 http://www.medworm.com/index.php?rid=3096828&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FvG1MFG7RDvc%2F By Michael D. TannerPresident Obama gave what seems like his thousandth exclusive health care interview last night, this one to ABC News’s Charles Gibson.  In trying to sell his health care plan, the president warned that if Congress does not pass legislation controlling health care costs, the federal government “will go bankrupt.”  He also warned that unless health care is reformed, “your premiums will go up.”  The president is absolutely correct about that.  The only problem is that, according to the president’s own chief health care actuary, the bills that Congress is now considering do nothing to restrain either federal health care spending or total health care costs.  In fact, Rick Foster, chief actuary at the Center for Medicare and Medicaid Services (CMS) says that... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096828 Thu, 17 Dec 2009 15:48:43 +0100 3096828 http://www.medworm.com/index.php?rid=3096841&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FsUITgFNxEJ8%2F By Edward H. CraneIn his ongoing effort to micromanage the U.S. economy President Obama used his Dec. 12 weekly radio address to promote his proposed Consumer Financial Protection Agency.  It will be filled with bureaucrats second-guessing entrepreneurs and is sure to improve the performance of our financial institutions — much in the manner of the SEC’s bureaucrats alertly nailing Bernie Madoff just 30 years into his Ponzi scheme.  Never mind that the federal government had much more to do with the financial meltdown than the banks did, the real knee-slapper in his address was his claim that the CFPA “would bring new transparency and accountability to the financial markets…” This, from a man demanding passage of a 2000-page health care reform bill that no one, incl... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096841 Wed, 16 Dec 2009 16:59:23 +0100 3096841 http://www.medworm.com/index.php?rid=3096842&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FWYfBD0mISaA%2F By Daniel GriswoldThe good news is that a bill has been introduced in the House this week under the broad heading of immigration reform. Even during a recession, Congress should be working to change our immigration system to reflect the longer-term needs of our economy for foreign-born workers. The bad news is that the actual bill put in the hopper by Rep. Luis Gutierrez, D-IL, on Tuesday would do nothing to solve the related problems of illegal immigration and the long-term needs of our economy. As I argued in a recent blog post and a Washington Times op-ed, immigration reform must include expanded opportunities for legal immigration in the future through a temporary worker visa. Any so-called reform that is missing this third leg will be doomed to fail. We will simply be repeating the mi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3096842 Wed, 16 Dec 2009 16:25:53 +0100 3096842 http://www.medworm.com/index.php?rid=3089509&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F12%2F14%2Fstill-have-cash-wall-street-wants-to-talk%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily. Still Have Cash? Wall Street Wants to Talk. Posted in Politics Daily Tagged: chaos theory, economy, gold bubble, meltdown, political cartoon, small investor, wall street (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=3089509 Mon, 14 Dec 2009 18:30:11 +0100 3089509 http://www.medworm.com/index.php?rid=3082389&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FEhrIgHk52wE%2F By Andrei IllarionovAs the Copenhagen Climate Conference is taking place, it is appropriate to clarify once again what is more or less accurately known about the climate of our planet and about climate change. Obviously, a brief post can not substitute for detailed studies of professionals in a variety of scientific disciplines – climatology, atmospheric physics, chemistry, geology, astronomy, and economics. However, a short post can summarize basic theses on the main trends in climate evolution, on its forecasts, and on its actual and projected effects. 1. The Earth’s climate is constantly changing. The climate was changing in the past, is changing now and, obviously, will be changing in the future – as long as our planet exists. 2. Climatic changes are largely cyclical in nature. T... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3082389 Fri, 11 Dec 2009 22:33:41 +0100 3082389 http://www.medworm.com/index.php?rid=3079323&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUKClRcE7WKw%2F By Chris EdwardsThe expansion in government and poor state of the economy got me thinking about how government growth is reflected in measured gross domestic product. So here is a wonky look at the treatment of government in the Bureau of Economic Analysis GDP data. Data notes: By “government,” I mean total federal, state, and local. For 2009, I’m using the average of second and third quarter data. All data from BEA Tables here. GDP measures total production. In 2009, government production was 20.7 percent of U.S. GDP.  Government production is roughly the sum of government value-added (the stuff it produces itself) and government purchases. The first item, government value-added, was 12.4 percent of GDP and mainly consists of employee compensation. For exampl... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3079323 Thu, 10 Dec 2009 19:37:11 +0100 3079323 http://www.medworm.com/index.php?rid=3075482&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyR9ykOoEhQ8%2F By David BoazScary news today from Washington Post columnist Kathleen Parker: despite losing his reelection bid in 2006, former senator Rick Santorum is still thinking about running for president. He tells Parker that he represents the Ronald Reagan issue trinity: the economy, national security and social conservatism. And he’s the limited-government guy: Both pro-life and pro-traditional family, Santorum is an irritant to many. But he insists that such labels oversimplify. Being pro-life and pro-family ultimately mean being pro-limited government. When you have strong families and respect for life, he says, “the requirements of government are less. You can have lower taxes and limited government.” But Santorum is no Reaganite when it comes to freedom and limited governme... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3075482 Wed, 09 Dec 2009 17:45:29 +0100 3075482 http://www.medworm.com/index.php?rid=3071130&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNZ7UqXUUQ-o%2F By Tad DeHavenHuge deficit spending, a supposed stimulus bill, and financial bailouts by the Bush administration failed to stave off a deep recession. President Obama continued his predecessor’s policies with an even bigger stimulus, which helped push the deficit over the unimaginable trillion dollar mark. Prosperity hasn’t returned, but the president is persistent in his interventionist beliefs. In his speech yesterday, he told the country that we must “spend our way out of this recession.” While a dedicated segment of the intelligentsia continues to believe in simplistic Kindergarten Keynesianism, average Americans are increasingly leery. Businesses and entrepreneurs are hesitant to invest and hire because of the uncertainty surrounding the President’s agenda for higher... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3071130 Wed, 09 Dec 2009 16:04:42 +0100 3071130 http://www.medworm.com/index.php?rid=3071137&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F0Ro4uvhCvlk%2F By Ilya ShapiroMany law firms are asking their incoming first-year associates to defer their start dates (from a few months to a full year) and are offering stipends to these deferred associates to work at public interest organizations. Cato has been running a deferred associates program for the last few months and we are now extending it for as long as top-notch candidates want to ride out the economy with us. The Cato Institute invites third-year law students and others facing firm deferrals to apply to work at our Center for Constitutional Studies. This is an opportunity to assist projects ranging from Supreme Court amicus briefs to policy papers to the Cato Supreme Court Review. Start and end dates are flexible. Interested students and graduates should email a cover letter, resume, tra... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3071137 Wed, 09 Dec 2009 13:35:19 +0100 3071137 http://www.medworm.com/index.php?rid=3067013&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyefUWEV1P1c%2F By Patrick J. Michaels25,000 bureaucrats, factota, hangers on, and representatives of various environmental organizations have just converged on Copehagen for the UN’s latest “Conference of the Parties (COP) to its infamous 1992 climate treaty. Expect a lot of heat, not much light, and a punt right into our next election. President Obama says that the US will agree to a “politically binding” reduction of our emissions of carbon dioxide to a mere 17% of 2005 levels by 2050. This will allow the average American the carbon dioxide emission of the average citizen in 1867. Obama’s pronouncement has stepped all over the toes of the US Senate, which really doesn’t want to vote on similar legislation this election year. Jim Webb, a democrat heretofore very loyal to the President recent... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3067013 Tue, 08 Dec 2009 04:01:37 +0100 3067013 http://www.medworm.com/index.php?rid=3056617&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FP1wbE-cyLCA%2F That is one of the conclusions in my new paper, “Made on Earth: How Global Economic Integration Renders Trade Policy Obsolete.” For hundreds of years, trade policy has been premised on the assumptions that exports are good, imports are bad, and the interests of domestic producers are tantamount to the “national interest.” Though that mercantilist worldview has never been accurate, its persistence as a pillar of trade policy into the 21st century is especially confounding given the emergence and proliferation of disaggregated production processes, transnational supply chains, and cross-border investment. Those trends have blurred any meaningful distinctions between “our” producers and “their” producers and speak to a long chain of interdepende... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3056617 Thu, 03 Dec 2009 20:57:28 +0100 3056617 http://www.medworm.com/index.php?rid=3026924&cid=t_113027_158_f&fid=36018&url=http%3A%2F%2Fcaregiversbeacon.blogspot.com%2F2009%2F11%2Flife-of-senior-small-business-owners.html From thrift shop owners to RV park manager/owners, seniors who are small business owners balance the challenges of innovation to keep pace with change along with the doctor visits and health issues that come with the senior territory.Many seniors are still managing successful small businesses. Staying afloat in the present economy means inventing new strategies that are situation specific for the current times. Many seniors enjoy the independence and challenges of owning their small businesses, instead of retiring or working for someone else.One 93 year old woman I met was still going over to do maintenance tasks at the apartment building she owned and managed for college students' housing. She would arrive to visit with the student renters who might be around, change light bulbs or fix ga... The Caregiver's Beacon - Resources, Links, Ideas, News blogs http://www.medworm.com/rss/comments.php?id=3026924 Wed, 25 Nov 2009 01:56:00 +0100 3026924 http://www.medworm.com/index.php?rid=3023100&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FrshhO2-EQSg%2F Three decades of politics and failed policies at HUD. Michael D. Tanner on the Senate Sell-Outs: “At a time of 10.2 percent unemployment, they voted to make it more expensive to hire workers, especially low-wage workers. With the economy struggling, they voted for $485 billion in tax hikes. They voted to raise the payroll tax, limit your flexible spending account, and tax your health insurance plan. This is moderation?” The limits of U.S. power in Afghanistan: “Even if more troops were better deployed, the odds of reasonable success in reasonable time at reasonable cost are long.” Republican and Democratic senators pushing for subsidizing prayer. In Washington next week? Tom Palmer will be here Tuesday, Dec. 1 to discuss his new book, Realizing Freedom. Can&... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3023100 Mon, 23 Nov 2009 20:38:41 +0100 3023100 http://www.medworm.com/index.php?rid=3015270&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6xiawI6-at4%2F In a recent Washington Post op-ed, Professor Joseph Gyourko, chair of the Wharton School’s Real Estate Department, lists what he sees as the five biggest myths about homeownership. Given the central role of federal housing policy, particularly Fannie Mae and Freddie Mac, in our recent financial crisis, it is worth following Professor Gyourko’s suggestion and question whether a national policy of ownership, all the time for everyone, really makes sense. Professor Gyourko’s five myths: 1.  Housing is a great long-term investment. 2.  The homebuyer tax credit makes buying a house more affordable. 3.  Homeowners are better citizens. 4.  It’s safe to buy a house with a very low downpayment. 5.  Owning is always cheaper than renting. You’ll have to read the op-... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3015270 Fri, 20 Nov 2009 21:02:41 +0100 3015270 http://www.medworm.com/index.php?rid=2984775&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9WriRdpMVHE%2F This report is a small illustration of the fundamental problems with the federal government subsidizing local governments. The local public housing agencies are supposed to be monitoring how money is spent and reporting to HUD. HUD is supposed to be monitoring the local public housing agencies. But no one does a very good monitoring job, despite the piles of regulations and paperwork that every level of government has to deal with for such subsidies. The muddled web of responsibilities also makes it easy for fraud artists to take advantage. Last week, HUD’s IG reported that the department is sending $220 million in stimulus funds to local agencies already known to misspend taxpayer dollars. From USA Today: The government is sending millions of dollars in stimulus aid to communities and h... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2984775 Thu, 12 Nov 2009 14:27:20 +0100 2984775 http://www.medworm.com/index.php?rid=2984779&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUPeuK9WidMo%2F Today’s episode of “Hagar the Horrible” could be an epigraph for the new Fall 2009 issue of Cato Journal. This issue includes Greek economists Michael Mitsopoulos and Theodore Pelagidis on “Vikings in Greece: Kleptocratic Interest Groups in a Closed, Rent-Seeking Economy” as well as Peter Leeson, author of The Invisible Hook: The Hidden Economics of Pirates, writing (with David Skarbek) on the effects of foreign aid. As for taxes, well, editor Jim Dorn has assembled a number of useful papers: Andrew T. Young on taxing, spending, and “fiscal illusion” Michael J. New on the “starve the beast” hypothesis Alan Reynolds on Paul Krugman’s misunderstanding of the monetary and fiscal lessons of the Great Depression and Japan’s l... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2984779 Wed, 11 Nov 2009 19:44:22 +0100 2984779 http://www.medworm.com/index.php?rid=2981058&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqX9P6h_jem8%2F Import competition can throw Americans out of work. Even advocates of free trade like me will readily acknowledge that fact. And nobody needs to remind the people of Hickory, North Carolina. On the front page of the Washington Post this morning, under the headline, “In N.C., damage not easily mended: Globalization drives unemployment to 15% in one corner of state,” the paper reports in detail how the people of that community are struggling to adjust to a more open U.S. economy: The region has lost more of its jobs to international competition than just about anywhere else in the nation, according to federal trade-assistance statistics, as textile mills have closed, furniture factories have dwindled and even the fiber-optic plants have undergone mass layoffs. The unemployment rate is on... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2981058 Tue, 10 Nov 2009 20:35:09 +0100 2981058 http://www.medworm.com/index.php?rid=2943764&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fc_AVM17vP68%2F The bad news this morning on the impact of both the federal stimulus and the Cash for Clunkers program should not come as a surprise to anyone who has paid attention to the history of government intervention in the economy. New data that the jobs created by the stimulus have been overstated by thousands is compelling, but it’s really a secondary issue. The primary issue is that the government cannot “create” anything without hurting something else. To “create” jobs, the government must first extract wealth from the economy via taxation, or raise the money by issuing debt. Regardless of whether the burden is borne by present or future taxpayers, the result is the same: job creation and economic growth are inhibited. At the same time the government is taking und... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2943764 Thu, 29 Oct 2009 19:05:37 +0100 2943764 http://www.medworm.com/index.php?rid=2943765&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJ08j1EAl2cE%2F According to a Washington Post story today, “the weak dollar is one problem the United States loves to have.” The story reports how the fall of the dollar against the euro and other currencies in the past year has boosted U.S. exports and discouraged imports, cutting the trade deficit and allegedly boosting the U.S. economy. A weaker dollar has spurred complaints in Europe and elsewhere, but here at home the Post story leaves the impression the approval is practically unanimous. Nowhere in the 1,058-word story is the impact on consumers ever mentioned. But it is American consumers who pay the biggest price when the dollars we earn buy less on global markets. We are paying more for oil, which not coincidentally has zoomed toward $80 as the dollar flounders. A weaker dollar means higher ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2943765 Thu, 29 Oct 2009 18:56:31 +0100 2943765 http://www.medworm.com/index.php?rid=2916081&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FziYjmUwKyB8%2F According to reports, executives from bailed out companies Citigroup, Bank of America, GM, Chrysler, GMAC, Chrysler Financial and AIG are going to see major pay cuts this year, which will be enforced by the president’s “pay czar,” Kenneth R. Feinberg. WaPo: NEW YORK — The Obama administration plans to order companies that have received exceptionally large amounts of bailout money from the government to slash compensation for their highest-paid executives by about half on average, according to people familiar with the long-awaited decision. The administration will also curtail many corporate perks, including the use of corporate jets for personal travel, chauffeured drivers and country club fee reimbursement, people familiar with the matter have said. Individual per... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2916081 Thu, 22 Oct 2009 14:30:50 +0100 2916081 http://www.medworm.com/index.php?rid=2905073&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F10%2F19%2Fchaos-theory-the-bonus-on-wall-street-nothing-could-stop-it%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: The Bonus on Wall Street: Nothing Could Stop It! Posted in Politics Daily Tagged: bailout, bank, economy, political cartoon, wall street bonus (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2905073 Mon, 19 Oct 2009 14:52:35 +0100 2905073 http://www.medworm.com/index.php?rid=2898998&cid=t_113027_109_f&fid=34699&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fscienceblogs%2FvjmG%2F%7E3%2Fp-5bQ4E1NFQ%2Fk_street_remains_the_fourth_br.php Just goes to show how lobbying reform hasn't gone anywhere near far enough: Bank Lobbyists Are Not Only Trying to Kill NEW Legislation, They Are Trying to Weaken EXISTING Regulations By George Washington of Washington's Blog. Everyone knows that the lobbyists for the financial giants are trying to kill any tough new regulations. But they are also trying to weaken existing regulations. Specifically, Robert Borosage notes:     The [derivatives] bill that the House will consider on Wednesday creates a clearinghouse, not a publicly managed exchange. It also allows banks to decide that a deal is so unique that it needn't be posted on the clearinghouse. The best experts in the field -- like Michael Greenberger of the University of Maryland -- warn that the legislation might ... The Corpus Callosum blogs http://www.medworm.com/rss/comments.php?id=2898998 Fri, 16 Oct 2009 12:47:43 +0100 2898998 http://www.medworm.com/index.php?rid=2898927&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FsOTk-fBoGcU%2F Social Security benefits are indexed for inflation, but because inflation has been roughly zero for the past year, the adjustment formula implies no increase in benefits this year. Nevertheless, President Obama on Wednesday attempted to preempt the announcement that Social Security recipients will not get an increase in their benefit checks for the first time in three decades, encouraging Congress to provide a one-time payment of $250 to help seniors and disabled Americans weather the recession. Obama endorsed the idea, which is expected to cost at least $13 billion, as the administration gropes for ways to sustain an apparent economic rebound without the kind of massive spending package that critics could label a second stimulus act. This is outrageous on four levels: 1. If the president ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2898927 Thu, 15 Oct 2009 16:34:58 +0100 2898927 http://www.medworm.com/index.php?rid=2890897&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F10%2F13%2Fchaos-theory-the-house-and-senate-always-wins%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: The House – and Senate – Always Wins. Posted in Politcal Cartoons, Politics Tagged: congress, corruption, economy, house, senate (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2890897 Tue, 13 Oct 2009 18:46:28 +0100 2890897 http://www.medworm.com/index.php?rid=2886418&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqU-D-xKXTAk%2F Perhaps the worst feature of the bailouts and the stimulus has been that, whatever their merits as short terms fixes, they have done nothing to improve economic policy over the long haul; indeed, they compound past mistakes. Here is a good example: For months, troubled homeowners seeking to lower their mortgage payments under a federal plan have complained about bureaucratic bungling, ceaseless frustration and confusion. On Thursday, the Obama administration declared that the $75 billion program is finally providing broad relief after it pressured mortgage companies to move faster to modify more loans. Five hundred thousand troubled homeowners have had their loan payments lowered on a trial basis under the Making Home Affordable Program. The crucial words in the story are “$75 billio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2886418 Mon, 12 Oct 2009 17:35:51 +0100 2886418 http://www.medworm.com/index.php?rid=2876019&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FFnqkMAr70nY%2F Speaking recently a Steamboat Institute conference, I explain that big government is America’s fiscal challenge, not whether the spending is financed with taxes or borrowing.   This issue is important because the statists are trying to create the conditions for a big tax hike. We got huge spending increases under Bush, and now Obama has picked up the baton and is racing in the same direction. Needless to say, the politicians don’t care about deficits when they are spending money. But when it is time to discuss tax policy, deficits suddenly become a giant threat to the economy and turning more of our money over to the political class is the only solution. The Q&A session also is interesting, as I pontificate about the financial crisis, Keynesian economics, the rule of law,... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2876019 Thu, 08 Oct 2009 18:20:30 +0100 2876019 http://www.medworm.com/index.php?rid=2851742&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAJydmeUPsGM%2F During a speaking trip to China three years ago, the young tour guide in Beijing kept referring to “the liberation.” I soon realized that she meant the October Revolution of 1949, in which Mao Tse Tung and the communists seized power and began their rule 60 years ago today. Far from liberating China, the reign of Mao represents one of the worst tyrannies in the history of mankind. Opposition parties, free speech and freedom of religion were quickly eliminated. The Great Leap Forward of 1958-61 forced the collectivization of agriculture, resulting in a famine that killed tens of millions. The Cultural Revolution of 1966-76, while not as deadly, unleashed chaos that crippled the economy and scarred a generation. As Gordon Chang writes in a Wall Street Journal op-ed this morning, the cele... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2851742 Thu, 01 Oct 2009 15:38:21 +0100 2851742 http://www.medworm.com/index.php?rid=2842513&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FM9AfmWdCXWQ%2F USA Today’s Dennis Cauchon reports that ”state governments are rushing to borrow money to take advantage of cheap and plentiful credit at a time when tax collections are tumbling.” That will allow them to “avoid some painful spending cuts,” Cauchon notes, but it will sadly impose more pain on taxpayers down the road. When politicians have the chance to act irresponsibly, they will act irresponsibly. Give them low interest rates and they go on a borrowing binge. The result is that they are in over their heads with massive piles of bond debt on top of the huge unfunded obligations they have built up for state pension and health care plans. The chart shows that total state and local government debt soared 93 percent this decade. It jumped from $1.2 trilli... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2842513 Mon, 28 Sep 2009 19:34:18 +0100 2842513 http://www.medworm.com/index.php?rid=2832096&cid=t_113027_86_f&fid=34445&url=http%3A%2F%2Fwomenshealthnews.wordpress.com%2F2009%2F09%2F24%2Fon-the-economy-and-family-planning%2F Discussions about women and families who are carefully considering their reproductive and health care choices often overlook out one important fact, however: poor women have always faced this situation. (And, they have historically been targeted for coercive efforts to restrict their childbearing by forced contraception and/or sterilization efforts.) Worries about the affordability of health care and decisions about having additional children aren’t new — they’re simply being experienced by a broader range of people than usual right now.” Other recent articles from the newsletter are available here. Posted in Access, Rights, & Choice, Contraception, Health, Women's Health (Source: Women's Health News) Women's Health News blogs http://www.medworm.com/rss/comments.php?id=2832096 Thu, 24 Sep 2009 23:50:20 +0100 2832096 http://www.medworm.com/index.php?rid=2823964&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FGP_FEocr8sE%2F “My critics say that I’m taking over every sector of the economy,” President Obama sighed to George Stephanopoulos during his Sunday media blitz. Not every sector. Just health care energy local schools banks insurance companies automobile companies compensation at financial firms newspapers the internet This president and his Ivy League advisers believe that they know how an economy should develop better than hundreds of millions of market participants spending their own money every day. That is what F. A. Hayek called the “fatal conceit,” the idea that smart people can design a real economy on the basis of their abstract ideas. This is not quite socialism. In most of these cases, President Obama doesn’t propose to actually nationalize the means of product... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2823964 Wed, 23 Sep 2009 14:10:35 +0100 2823964 http://www.medworm.com/index.php?rid=2814397&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FdOUTrF4ueVU%2F Pakistan long has tottered on the edge of being a failed state:  created amidst a bloody partition from India, suffered under ineffective democratic rule and disastrous military rule, destabilized through military suppression of East Pakistan (now Bangladesh) by dominant West Pakistan, dismembered in a losing war with India, misgoverned by a corrupt and wastrel government, linked to the most extremist Afghan factions during the Soviet occupation, allied with the later Taliban regime, and now destabilized by the war in Afghanistan.  Along the way the regime built nuclear weapons, turned a blind eye to A.Q. Khan’s proliferation market, suppressed democracy, tolerated religious persecution, elected Asif Ali “Mr. Ten Percent” Zardari as president, and wasted billion... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2814397 Mon, 21 Sep 2009 13:45:20 +0100 2814397 http://www.medworm.com/index.php?rid=2809662&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYN8MwjrmY-s%2F Nat Hentoff has a few tough questions for doctors who aided CIA torture. Is public option a private insurer killer? Larry McNeely and Michael Cannon debate. “Cap-and-Trade Is Dead. Long Live Cap-and-Trade!” Fed Chairman Ben Bernanke says the recession is probably over. But was he the man who saved the economy? Podcast: Should the government have the power to punish you for speaking your mind? Many Americans think it should…so long as it’s people with whom they don’t agree. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2809662 Fri, 18 Sep 2009 20:37:30 +0100 2809662 http://www.medworm.com/index.php?rid=2807848&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F17%2Fchaos-theory-ben-bernankes-good-news%2F New cartoon by Trussell & Trussell on AOL’s Politics Daily: Ben Bernanke’s Good News. Posted in Politcal Cartoons Tagged: ben bernanke, economy, recession, unemployment (Source: Donna Trussell) Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2807848 Thu, 17 Sep 2009 20:47:21 +0100 2807848 http://www.medworm.com/index.php?rid=2803883&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FnHv08v7U-SI%2F Earlier this month, the Lowy Institute in Australia published a paper offering some very sound and, obviously, very timely advice about how to contain, and ultimately, eradicate protectionism. The paper is being circulated among the G20 delegations, who will undoubtedly discuss the topic of trade and protectionism in Pittsburgh next week. So for those of you interested in getting a sense of what will probably be the single best idea on (or at least near) the table at the G20 summit, I highly recommend this 20-pager. The solution proposed by the authors boils down to a two-word phrase: “Domestic Transparency.” What is meant by that phrase is that “defeating protectionism begins at home.” And by that slogan, the authors mean that the key to reducing, and ultimately el... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803883 Thu, 17 Sep 2009 16:00:42 +0100 2803883 http://www.medworm.com/index.php?rid=2803885&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fe7l3bFEGGRA%2F This is from the Reagan administration’s deregulatory 1981 energy plan: “All Americans are involved in making energy policy. When individual choices are made with a maximum of personal understanding and a minimum of government restraints, the result is the most appropriate energy policy.” Many modern Republicans claim devotion to Ronald Reagan’s ideas, but they often seem to forget about the “minimum of government” thing. The following points are from Republican Virginia gubernatorial candidate Bob McDonnell’s “More Energy, More Jobs” plan: “McDonnell was the chief sponsor of legislation creating the Virginia Hydrogen Energy Plan.” “McDonnell also supported grant programs for solar photovoltaic manufacturing, tax ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803885 Thu, 17 Sep 2009 15:42:09 +0100 2803885 http://www.medworm.com/index.php?rid=2803888&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F21p5UjsSTFk%2F The Obama administration has been touting its wasteful “stimulus” package as the answer to the recession.  Now that Uncle Sam has started his spending binge, John Cogan, John Taylor, and Volker Wieland assess the result.  Their conclusion:  for all of the money spent, the effort wasn’t much of a stimulus. They write in the Wall Street Journal: Direct evidence of an impact by government spending can be found in 1.8 of the 5.4 percentage-point improvement from the first to second quarter of this year. However, more than half of this contribution was due to defense spending that was not part of the stimulus package. Of the entire $787 billion stimulus package, only $4.5 billion went to federal purchases and $17.7 billion to state and local purchases in the second quarte... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2803888 Thu, 17 Sep 2009 13:40:10 +0100 2803888 http://www.medworm.com/index.php?rid=2800665&cid=t_113027_136_f&fid=37852&url=http%3A%2F%2Fdonnatrussell.com%2F2009%2F09%2F16%2Fyou-want-savers-not-debtors-since-when%2F My new Politics Daily / Woman Up post: It’s not often that Kansans make the national news. But one did so a few days ago in The New York Times. His name is Ray Rucker, and he lives in Overland Park, a suburb of Kansas City. Rucker is 62 years old. He wants to work another 10 years, but he’s been laid off. And no one wants to hire him. For 32 years I have lived just a few miles from Overland Park. So I think I can describe the mindset of a typical Kansan: They are polite to a fault. If they have something unkind to say, they keep silent. They go to church. They vote Republican. They work hard. They hoard more than they spend. The cliche of the salt-of-the-earth Midwesterner is not far off the mark… Read the rest on AOL: You Want Savers, Not Debtors? Since When? Posted in K... Donna Trussell blogs http://www.medworm.com/rss/comments.php?id=2800665 Wed, 16 Sep 2009 05:09:55 +0100 2800665 http://www.medworm.com/index.php?rid=2796842&cid=t_113027_180_f&fid=38610&url=http%3A%2F%2Fwww.productivity501.com%2Fstarting-a-business-in-a-down-economy%2F5358%2F A friend of mine is starting a business selling Cupcake Towers. When I first heard what she was doing I thought, “Why would you want to start a business right now?” After further consideration, I realized that if you have a good product or service, now might be the best possible time to start a business.  Here is why: There is less competition for workers right now so you can get good help for a reasonable cost. If you have a business idea that you can run on the side, it makes sense to start before you quit your day job. Technology has drastically reduced the cost of running a business. You can get a web store up for $20 to $40 per month (sometimes even less). If you want to work from home, but can’t with your current job, starting a business that you can manage durin... Productivity501 blogs http://www.medworm.com/rss/comments.php?id=2796842 Tue, 15 Sep 2009 16:11:56 +0100 2796842 http://www.medworm.com/index.php?rid=2796414&cid=t_113027_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FgXSkReayefo%2F When Treasury Secretary Hank Paul proposed the bailout of Wall Street banks last September, I objected in part because the TARP meant that government connections, not economic merit, would come to determine how capital gets allocated in the economy. That prediction now looks dead on: As financial firms navigate a life more closely connected to government aid and oversight than ever before, they increasingly turn to Washington, closing a chasm that was previously far greater than the 228 miles separating the nation’s political and financial capitals. In the year since the investment bank Lehman Brothers collapsed, paralyzing global markets and triggering one of the biggest government forays into the economy in U.S. history, Wall Street has looked south to forge new business strategies... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2796414 Mon, 14 Sep 2009 18:27:19 +0100 2796414