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 2018-07-20 13:26 

Economic Policy Journal

THE TRUMP EFFECT: Chinese Monetary Authorities Panic...

The People's Bank of China hedquartersChina';s central bank, The People's Bank of China is in panic mode. The PBOC - three weeks after its latest RRR cut - announced further easing measures, early Thursday, including the introduction of incenti...

 2018-07-20 13:26 

Economic Policy Journal

Russian Warship "Carrying $133 Billion In Gold" Discovered Off South Korea...

The Dmitrii DonskoiA South Korean salvage team has discovered the wreck of a Russian warship that was sunk in a naval battle 113 years ago and is believed to still contain a trove of gold bullion and coins worth 150 trillion won, or 100 billion [USD $113 ...

 2018-07-19 23:30 

Economic Policy Journal

Trump Threatens EU with 'Tremendous Retribution' via Auto Tariffs...

At a cabinet meeting on Wednesday, President Trump threatened "tremendous retribution" against the European Union, specifically mentioning auto tariffs, if his meeting with EU officials next week doesn't yield what he considers a fair auto tra...

 2018-07-19 23:30 

Economic Policy Journal

DOG CARTS: This Is What Happening to Bus Transportation in Socialist Venezuela...

"Passenger buses in Venezuela...that two years ago was estimated at 280,000 vehicles has been whittled to just 30,000."From Reuters:On a recent afternoon, a crowd of hundreds massed on the sidewalk outside an exit from the subway in the central Ve...

 2018-07-19 23:30 

Economic Policy Journal

Trump Attacks Fed.....

...but not because he wants the Fed to stop monetary and interest rate manipulation. He wants them to do more of it!In a stinging and historically rare criticism, President Donald Trump expressed frustration with the Federal Reserve and said the central b...

 2018-07-19 13:19 

Economic Policy Journal

Broke Chicago Considering "Testing" Guaranteed Basic Income Program...

My legislation calling for the creation of a Chicago #UniversalBasicIncome pilot has 36 co-sponsors! On to the Commitee on Workforce Development and Audit. Committee chair @40thWard is also a sponsor. More soon! #UBI pic.twitter.com/W7D5Hbx31E— Amey...

 2018-07-19 13:19 

Economic Policy Journal

This is What Fed Chairman Powell Told Congress About Cryptocurrencies...

Federal Reserve Chairman Jerome PowellFederal Reserve Chairman Jerome Powell in testimony before members of Congress on Wednesday said that "relatively unsophisticated investors see the asset go up in price, and they think: 'This is great; I'l...

 2018-07-19 13:19 

Economic Policy Journal

Vatican Goes Off on Evangelicals, the American Dream and Prosperity...

A Vatican-approved journal has dismissed "prosperity gospel" as a pseudo theology dangerously tied up with the American Dream and President Donald Trump's politics, reports the Associated Press.Two of Pope Francis' top communications advis...

 2018-07-19 02:00 

Economic Policy Journal

Plastic Straw Myths That Lefties Are Apparently In Denial About (Or Evilly Choose to Ignore)...

Wacko lefties just want to coerce other people. This is the bottom line. There is nothing in the way of sound logical argument for any of the central planning policy positions. It's time for the #PPSAlso, see: The Idiotic Thinking Behind the Eliminati...

 2018-07-19 02:00 

Economic Policy Journal

Who Has Worse Trade Practices China or the US?...

A Don Boudreau letter:Mr. Josh HendersonMr. Henderson:Thanks for your e-mail. You ask which government the U.S. or the Chinese I believe to be most responsible for today's trade tensions.My answer is both. Both governments obstruct with tariffs and su...

 2018-07-18 11:42 

Economic Policy Journal

Ivanka Trump Cheers Central Planning in the Jobs Training Sector...

Ivanka "I will fix the workforce "TrumpInvaka Trump writes in an op-ed in today's Wall Street Journal:With more companies expanding, hiring and raising wages, it is time to deliver better workforce training so that all Americans have the chanc...

 2018-07-18 11:42 

Economic Policy Journal

When David Stockman Smacked John Kenneth Galbraith...

-RW...

 2018-07-18 11:42 

Economic Policy Journal

The Problem With Forecasting Outcomes of Complex Human Events: The Goldman Sachs Failure...

Bloomberg informs:Goldman Sachs' statistical model for the World Cup sounded impressive: The investment bank mined data about the teams and individual players, used artificial intelligence to predict the factors that might affect game scores and simul...

 2018-07-18 11:42 

Economic Policy Journal

BREAKING: EU Penalizes Google a Record $5 Billion...

This is a developing story. Return to this post for updates.UPDATE 1The European Union has fined Alphabet Inc.'s Google with a record antitrust fine of 4.34 billion ($5.06 billion).UPDATE 2Via The Wall Street Journal:The EU's antitrust regulator h...

 2018-07-18 01:18 

Economic Policy Journal

Blue States Sue Trump Over New Cap on Tax Deductions...

The Attorneys General in New York, Connecticut, Maryland and New Jersey this morning have filed a lawsuit against the Trump administration challenging the constitutionality of the new cap on federal deductions for state and local taxes in the 2017 tax ove...

 2018-07-18 01:18 

Economic Policy Journal

In Your Face Trump: Japan, EU Sign Major Trade Deal...

From the international newswire of the German Press Agency:MORE: Japan, EU sign trade deal in snub to Trump-style protectionism https://t.co/9cPYPniHQP— dpa news agency (@dpa_intl) July 17, 2018-RW...

 2018-07-18 01:18 

Economic Policy Journal

Trump's Tariffs Likely to Result in Higher Prices for Alaskan Seafood...

Another shrinking of America's standard of living because of Trump's tariffs."The U.S. is going to impose 10 percent tariff on imports from China, which could include Alaska seafood product that has gone to China for reprocessing and then is b...

 2018-07-18 01:18 

Economic Policy Journal

The Spinning Washing Machine Production Question...

Another Don Boudreaux letter to arch-protectionist correspondent Nolan McKinney:Like you, I read in the Wall Street Journal that Trump's tariffs on washing machines are prompting Samsung and LG to consider opening factories here in the U.S. Unlike you...

 2018-07-18 01:18 

Economic Policy Journal

House Speaker Paul Ryan Supports More Russian Sanctions...

At a press conference today, House Speaker Paul Ryan said that he's "more than happy" to consider additional sanctions against Russia following last week's indictment of Russian agents for allegedly hacking into DNC computers."Those GR...

 2018-07-17 13:54 

Economic Policy Journal

The Changing of the Bald-Headed Crony Chief at Goldman Sachs...

Lloyd Blankfein and David SolomonGoldman Sachs plans to name company President David Solomon as its next CEO, reports Bloomberg. It is expected that Lloyd Blankfein will be staying on in the CEO role for an interim period.Solomon recreationally produces e...

 2018-07-17 13:54 

Economic Policy Journal

The National History of Very Hot Temperatures and Why Do So Many Elderly Live in the Very Hot Cities of Phoenix and Tampa?...

By Patrick J. MichaelsThe heat and humidity are now on the rise again after a quite pleasant respite. But the last heatwave was exceedingly uncomfortable and prompted an examination of just how miserable Mid-Atlantic summers can be. My own weather equipme...

 2018-07-17 02:03 

Economic Policy Journal

THIS NEEDS TO CHANGE: U.S. Startups Are at 40-Year Lows...

In today's Wall Street Journal, Rep. Jeb Hensarling (R-TX) calls for support for The Economic Growth, Regulatory Relief and Consumer Protection Act, also known as S. 2155.There's far too much micro-regulation in the Act for me but it does move in ...

 2018-07-17 02:03 

Economic Policy Journal

Socialism, Like Dracula, Rises Again from the Grave...

Richard Ebeling emails:Dear Bob, I have a new article on the website of the American Institute for Economic Research (AIER) on, "Socialism, Like Dracula, Rises Again from the Grave."Socialism reminds me of the Dracula movies I used to watch as a k...

 2018-07-17 02:03 

Economic Policy Journal

How to Use Your Handwriting in a Digital World...

Note:The recommended Evernote Notepad is only $17.99.From the blurb:2018 UPGRADED We upgrade the paper material and now each page can be used up to 500 times! Elfinbook is a real reusable notebook. It's an environmentally friendly notebooks, that is m...

 2018-07-16 14:47 

Economic Policy Journal

How Baseball Resembles the Market System and Why Rod Carew-Style Hitters Will Return...

By George WillIt is a prudential axiom: If it isn't broken, don't fix it. This reflects the awareness that things can always be made worse, and it reflects the law of unintended consequences, which is that they often are larger than and contrary t...

 2018-07-16 14:28 

Economic Policy Journal

Former Macau Gangster 'Broken Tooth' Raises US$750 Million in Cryptocurrency Offering Through His Company World Hung Mun Investment...

"Broken Tooth" Wan Kuok-koiThank you, People's Bank of China?Former Macau triad gangster "Broken Tooth" Wan Kuok-koi has partnered with a mysterious Beijing firm to back chess and poker tournaments in mainland China, as his company sai...

 2018-07-16 14:28 

Economic Policy Journal

Jordan Peterson's Take On the EU and...

I don't agree with everything Peterson says here, he might even contradict himself a bit about the U.S., but overall it is a very interesting take.-RW...

 2018-07-15 22:52 

Economic Policy Journal

Ain't No Way Norway Is a Model for Democratic Socialism...

By Daniel J. MitchellEarlier this year, I explained why Nordic nations are not socialist. Or, to be more precise, I wrote that if they are socialist, then so is the United States.My slam dunk evidence was this chart from the Fraser Institute's Economi...

 2018-07-15 22:52 

Economic Policy Journal

Thanks Fed, $1 Million Is The New Entry Point For American Luxury-Home Buyers in 51 Markets...

Fifty-one of the 91 luxury markets now have an entry point of at least $1 million, according to Realtor.com -RW...

 2018-07-15 12:06 

Economic Policy Journal

What If Jeff Bezos Spent $50 Billion to Build and Operate Steel Factories?...

Here's another Don Boudreaux letter to Cal Clayton (a new e-mail correspondent of his):Mr. Clayton:I disagree with your assertion that Beijing's policies result in "overcapacity in global steel making" and that this asserted "overcapac...

 2018-07-15 12:06 

Economic Policy Journal

A Plea to Economics Journalists...

The world's greatest Keynesian economic textbook salesman, Greg Mankiw, makes a reasonable request:I was recently reading an article by Greg Ip (one of best economics journalists around, by the way), and he used the following expression:"the trade...

 2018-07-15 00:06 

Economic Policy Journal

ANOTHER ONE: Busybody "Permit Betty" Fired!!...

In yet another viral video making the rounds on social media featuring a busybody, a San Francisco woman nicknamed 'Permit Betty' can be seen questioning a street vendor over a permit, reports the San Francisco Chronicle. The man recording the vid...

 2018-07-15 00:06 

Economic Policy Journal

The Why and How of 'Human Action'...

Ludwig von Mises and Bettina Bien Greaves-RW...

 2018-07-14 13:46 

Economic Policy Journal

Hyundai Alabama Factory at Risk of Shutdown Due to Potential Trump Auto Tariffs...

Hyundai Motor Co.'s labor union said Thursday that steep auto tariffs the U.S. is considering could cost tens of thousands of American jobs, echoing concerns of the global auto industry as spiraling trade conflicts between the U.S. and other major eco...

 2018-07-14 13:46 

Economic Policy Journal

The Idiotic Thinking Behind the Elimination of Plastic Straws By Starbucks...

Starbucks announced on Monday that it would be going strawless."This is a significant milestone to achieve our global aspiration of sustainable coffee, served to our customers in more sustainable ways," said Starbucks Kevin Johnson CEO in a press ...

 2018-07-14 13:46 

Economic Policy Journal

SATURDAY HISTORY Lunch Atop A Skyscraper: The Story Behind The 1932 Photo...

-RW...

 2018-07-13 23:26 

Economic Policy Journal

Trump Administration Considering Tapping the Strategic Petroleum Reserve as Gasoline Prices Rise...

SCOOP: The Trump administration is actively considering taping the Strategic Petroleum Reserve as gasoline prices rise— Ari Natter (@AriNatter) July 13, 2018Of course, if you were a subscriber to the EPJ Daily Alert, this would come as no surprise.I...

 2018-07-13 23:26 

Economic Policy Journal

What Kind of Trade Deal is Trump Expecting to Make With the UK's Theresa May Anyway?...

Paul Krugman has a point:Leaving the insults to his host and the naked racism aside, what kind of trade deal did Trump (and Brexiteers) imagine the US might offer? Our average tariff on manufactured goods is only 2 percent https://t.co/x9Cu6Lg9Fu 1/ pic.t...

 2018-07-13 13:35 

Economic Policy Journal

Justice Department Appeals Time Warner-AT&T Merger Approval...

Here we go Trump harassment of the private sector.The Justice Department will appeal the AT&T-Time Warner merger approval, according to a court document filed Thursday, reports CNBC.AT&T General Counsel David McAtee said the company was surprised by the a...

 2018-07-13 13:35 

Economic Policy Journal

OMG This is Who the Globalists Put in Charge of the European Commission...

European Union leaders had to step in to help European Commission President, and known boozer, Jean-Claude Juncker after he was seen stumbling and losing his balance several times ahead of a gala dinner late Wednesday.He'll be gone. I predict the elit...

 2018-07-13 01:55 

Economic Policy Journal

This is How Bad C10S Disease Can Get...

In response to my post at Target Liberty, Some Responses to Trump Fanboys, Joshua Bennett emails:I recently had a conversation with a friend in his 60's who farms about 2,000 acres in Minnesota.He has always been open to listening to me talking about ...

 2018-07-13 01:55 

Economic Policy Journal

It Starts With Cellphones: The Top 20 Items That Will Be Impacted By the Latest Trump Tariffs...

Via The Wall Street Journal-RW...

 2018-07-13 01:55 

Economic Policy Journal

"Your Understanding of Trade is Completely Backwards, Upside Down, and Inside Out."...

A Don Boudreaux letter:Mr. Cal ClaytonMr. Clayton:Thanks for your e-mail.Expressing your "support [for] President Trump's at last standing up for us by not giving it all away in trade deals," you agree with Trump that whenever the U.S. governm...

 2018-07-12 13:35 

Economic Policy Journal

I Have Read Ludwig von Mises and Donald Trump is No Misesian...

I wonder if Trump fanboys really pay attention to what Donald Trump says when he lays his economic farts in NATO meetings.Trump said this Wednesday at a bilateral breakfast with NATO Secretary General Jens Stoltenberg:Well, I have to say, I think it's...

 2018-07-12 13:35 

Economic Policy Journal

Here's When Americans Will Really Start Feeling the Pain From Escalating Trump-Imposed Tariffs...

It's getting bad on the trade front.The recognition that free trade expands the global standard of living is being tossed aside by the neanderthal Trump as a fundamental principle as though it was Flat Earth thinking."Even though the tariffs actua...

 2018-07-12 02:42 

Economic Policy Journal

REPORT China Looking to 'Hit Back Against Trump Tariffs In Other Ways'...

It is getting ugly as economic ignorant policy intensifies as part of Trump's trade war.After the White House's latest threat of tariffs on billions of dollars of Chinese goods, officials in Beijing are looking to "hit back in other ways,"...

 2018-07-12 02:42 

Economic Policy Journal

University of Chicago Economist: Eventual Low Cost Attacks Will Keep Bitcoin From Ever Going Mainstream...

Via TechInDC: A University of Chicago economist has thrown some cold water on the notion that Bitcoin will be broadly adopted and have the chance to truly disrupt the existing financial system. In a paper published in June, Eric Budish concludes that "...

 2018-07-12 01:36 

Economic Policy Journal

Is the EU Too Protectionist?...

-RW...

 2018-07-12 01:36 

Economic Policy Journal

THE LIST: New Trump Tariffs Will Target: Vacuum Cleaners, Air Conditioners, Lamps, Refrigerators, Auto Parts....

(via David Stockman)...

 2018-07-11 13:43 

Economic Policy Journal

Trump and His Three Stooges of Protectionism: The Definitive Analysis of Trump's Trade War...

By David StockmanThe Donald apparently believes that ever since Smoot-Hawley worked out so well in the 1930s that the US has foolishly been engaged in unilateral disarmament on the trade front.In fact, if trade is all about bilateral export/import scorebo...

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