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Global Economic Intersection

Angst in America, Part 1: Aimless Men

by John Mauldin, Thoughts from the Frontline “America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand.” – Harry S. Truman “Unemployment is a weapon of mass destruction.”– Dennis Kucinich “Depression Breadline,” 1991, by George Segal Follow up: “Ever since 2000, basic indicators have offered oddly inconsistent readings on America’s economic performance and prospects. It is curious and highly uncharacteristic to...

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Will Jobs In The Future Be Gained Through Dead Man’s Shoes?

Written by Steven Hansen The are more and more words printed every day on the effects of automation - some even believe in the "tooth fairy",  like a British study claiming that automation over the last 15 years created 4 times more jobs than were lost. Follow up: If you give me some money, I will produce a study with any conclusion desired. But even if the data and analysis in a study are not biased and accurate - that does not mean you can extrapolate the findings into the future. I...

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The Job Guarantee, Wage-Price Inflation And Alternative Solutions: Part 1

by Philip Pilkington Before I start this post I should make one thing abundantly clear: I strongly support the idea of a Jobs Guarantee (JG) program. I think that the benefits it might bring to society so far outweigh its potential drawbacks that implementing it should be a no-brainer not simply for anyone with progressive tendencies, but for anyone who believes that people should have the right to be independent and earn a living for themselves and their families. Follow up: I have...

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Trumpcare or Obamacare – They Both Suck

Over the last two weeks, versions of Trumpcare have made it out of hiding for consideration. Of course the media immediately jumped on the bandwagon pointing out various defects and generally slamming Trumpcare, often with bias rather than detailed facts. Follow up: It appears that Obamacare IS headed on the road to failure - but Trumpcare ain't any better. Why? The largest problem with health care is not who will pay, or who it covers - but the rapid escalation of costs which make it...

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Tax Reform: The Good, the Bad, and the Really Ugly, Part Five

by John Mauldin, Thoughts from the Frontline “A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform”– Russell B. Long “Corporate tax reform is nice in theory but tough in practice.”– Andrew Ross Sorkin Follow up: “I hold it that a little rebellion, now and then, is a good thing, and as necessary in the political world as storms in the physical. Unsuccessful rebellions, indeed, generally establish the encroachments on the rights of the people,...

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Thinking Makes It So: The IMF Bailout of the UK in 1976 and the Rise of Monetarism

by Philip Pilkington Monetarism began it’s rise to world prominence in the ever-conservative Bundesbank in 1974. But it would be the government of Margaret Thatcher in the UK, elected in 1979, that would truly launch monetarism in central banking. After Thatcher’s monetarist experiment undertaken between 1979 and 1984, every economics student would be taught to recite the various monetary aggregates by heart for at least a decade or two. Follow up: This is what accounts for the...

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Trump, Ryan, and Price: Can They Make the Healthcare Numbers Add Up?

by Elliott Morss, Morss Global Finance Introduction During his campaign, Trump said he would get rid of Obamacare on his first day in office. He did not and instead suggested that he might keep part of the Affordable Care Act (ACA). He then said he will not enforce the penalties for those who do not sign up for healthcare insurance. Follow up: And last week, he conceded: …it’s an unbelievably complex subject. Nobody knew that health care could be so complicated.” Oh? But Trump continues...

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The Confusing State Of Retail Sales

Written by Steven Hansen Warren Buffett is confused about retail trade stating "retailing is tough for me to figure out". Not only is the retail model changing - but consumer spending and inflation trends are changing also. Follow up: Mr. Buffett was lamenting about missing the Amazon investing train - not understanding that the retail model was changing from the box stores to internet purchasing. But it is not just the trend towards online purchasing occurring in retail - but other...

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Tax Reform: The Good, the Bad, and the Really Ugly, Part Four

by John Mauldin, Thoughts from the Frontline “The values to which people cling most stubbornly under inappropriate conditions are those values that were previously the source of their greatest triumphs over adversity.”– Jared Diamond, Collapse, 2005 Tax reform means, “Don’t tax you, don’t tax me. Tax that fellow behind the tree.”– Russell B. Long, Democratic Senator from Louisiana, longtime chairman of the Senate Finance Committee (and a strong believer in capitalism who was a champion...

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When Marxists Deploy the Quantity Theory of Money and Other Economic Nonsense

by Philip Pilkington Article of the Week from Fixing the Economists It’s truly infuriating to watch left-wingers talk absolute nonsense when discussing the economy. I encounter it all too often. What you generally get is a hodge-podge of incoherent economic ideas — usually incorporating the worst aspects of right-wing doctrines like monetarism — topped off with a general hand-wave that, well, capitalism is full of ‘contradictions’ and doesn’t work anyway so what’s the use of discussing it...

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