Banana Republic USA?

By Nicholas Wishek – Re-Bloggd From Eagle Rising

In case you haven’t noticed, the United States is in a real and rapidly increasing danger of becoming a banana republic. That certainly is the apparent goal of this administration and the Democrat Party. The Republicans’ establishment seems content to go along as long as they are included in the ruling class. Putting aside the obvious, that the U.S. economy doesn’t rely on a single crop, Wikipedia’s definition of what defines a banana republic is as follows. “It typically has stratified social classes, including a large, impoverished working class and a ruling plutocracy of business, political, and military elites. This politico-economic oligarchy controls the primary-sector productions to exploit the country’s economy.”

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Robert Shiller Is Shilling for Socialism

By Peter St Onge – Re-Blogged From Mises.org

The Nobel Prize just gets cheaper and cheaper. Recent laureate Bob Shiller graces the New York Times with his latest rant that free-markets stink, bolstering his argument by making stuff up.

For starters, Shiller writes that America’s wealth “can be attributed” to regulation. Well, sure, it “can be attributed” to Zeus. Or sunspots. In the real world, America became the richest country long before the regulation age, and that position has been eroding ever since. Maddison (2007) estimates that by 1913 — before the New Deal regulatory explosion — the US was at $5,300 per person PPP (purchasing power parity), against $3,500 in Western Europe, $1,500 in Latin America, and $700 in the rest of Asia and Africa.

A similar pattern occurred in Europe, where the richest countries of the pre-modern age, Britain and Holland, used relatively free markets regulated by tort, while the rest of Europe mired hobbling markets with regulation and diktat. So, the story isn’t that regulation made the West. It’s that low-regulation economies soared ahead of the rest of humanity until socialists clipped their wings.

Indeed, Shiller doesn’t even seem to believe his own fantasy, writing, “The Thatcher-Reagan revolution a third of a century ago was a turning point away from market regulation, with mixed results.“

Here, the phrase “mixed results” is a red flag that the data doesn’t support his argument. Because Shiller would be kind enough to share the data if it did; it’s not very hard to look up GDP figures. And what do GDP figures tell us? That in Reagan’s eight years per capita GDP adjusted for inflation rose 3.5 percent per year. Compared to 0.7 percent in the previous eight years and 1.5 percent in the following eight years.

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The War on Cars Is a War on Workers and the Poor

By Gary Galles – Re-Blogged From Mises.org

A just-released poll of Los Angeles residents found that 55 percent of respondents indicated their greatest concern was “traffic and congestion,” far ahead of “personal safety” — the next highest area of concern — at 35 percent. So if their city government was working in their best interests, it would be doing something about automobile congestion.

It is. Unfortunately, it will make things worse.

Los Angeles’s recently adopted Mobility Plan 2035 would replace auto lanes in America’s congestion capital with bus and protected bike lanes, as well as pedestrian enhancements, despite heightening congestion for the vast majority who will continue to drive. Even the City’s Environmental Impact Report admitted “unavoidable significant adverse impacts” on congestion, doubling the number of heavily congested (graded F) intersections to 36 percent during evening rush hours.

Driving Saves Time and Offers More Opportunity

Such an effort to ration driving by worsening gridlock purgatory begs asking a central, but largely ignored, question. Why do planners’ attempts to force residents into walking, cycling, and mass transit — supposedly improving their quality of life — attract so few away from driving?

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Government Thrives on Fear

By John Stossel – Re-Blogged From http://www.Reason.com

This Halloween, what do you fear?

I fear fear itself because when we are afraid, we willingly give away our freedoms.

Global warning? More power to the EPA!

9/11? Vote 100 to 0 to create a TSA!

Kids don’t learn? Common Core!

Crime up? Spend on police! (Or for leftists: increase welfare!)

 Immigrants? Seal the border!

Ebola? More money and power for public health programs!

Government thrives on our fears. When we’re scared, politicians are always there, promising to protect us if we just give them more money and power. We usually do.

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EU Takes Countries To Court Over ‘Bail-In’ Laws

By Mark O’Byrne – Re-Blogged From http://www.Silver-Phoenix500.com

The European Commission is taking legal action against six European countries, including the Netherlands and Luxembourg, after they failed to implement rules that would allow for depositors to have their cash confiscated.

Six countries will be referred to the European Court of Justice (ECJ) for their continued failure to transpose the EU’s “bail-in” laws into national legislation, the European Commission said last Thursday according to The Telegraph.

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How Obama’s “Green Legacy” Will Shut Down the Economy

By Mack Stetson – Re-Blogged From http://politicaloutcast.com

The Environmental Protection Agency (EPA), with support from President Obama, is heading up a move that would make the cost of electricity skyrocket and do unprecedented damage to the economy.

President Obama is supporting the EPA’s move as a part of his own plan to leave a “green legacy” when he leaves the White House.  The cost of Obama’s legacy to the country may be worth it to him, but to average Americans who already pay too much for electricity, the prospects of these new policies are frightening!

According to Foxnews.com, the battle to stop the EPA and President Obama is underway:

The legal barrage to halt the Environmental Protection Agency’s radical Clean Power Plan has begun.

A broad coalition of U.S. industry and business, including the U.S. Chamber of Commerce,  the National Association of Manufacturers, and an armada of other business and industry organizations, has  asked the D.C. District of the federal Court of Appeals to prevent any further action on the Plan until the court can decide its overall legal status.

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Godzilla El Nino to Lower Your Heating Bill

By Matt Egan – Re-Blogged From http://money.cnn.com

Apparently, a godzilla is destroying the natural gas market.

Don’t worry, there isn’t a giant sea monster preparing an attack. Rather, predictions of an extremely warm winter — driven by what meteorologists have dubbed a “Godzilla” El Nino — have caused natural gas prices to plummet dramatically.

Natural gas prices tumbled 9% on Monday to three-and-a-half year lows. They’re already down 18% in October and nearly one-third so far this year.

Meteorologists are predicting the unseasonably warm fall temperatures to continue into the winter, which would diminish demand for natural gas to heat homes and businesses.

“A warm winter is the last thing this market needs,” Bank of America Merrill Lynch commodity strategist Sabine Schels wrote in a research report.

Schels believes a mild winter is a “big risk” and could cause a “gas glut” in the coming months.

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