By Lanhee C hen – Re-Blogged From Prager University
By Clint Siegner – Re-Blogged From Gold Eagle
Some of last week’s weakness in the stock market was attributed to surprisingly week jobs report on Friday. Non-farm payrolls came in significantly below projections.
However, much of that weakness was explained by Hurricane Florence. And the headline unemployment rate dropped to 3.7% – the lowest in almost 50 years.
Much was made of that, while almost nothing was made of the rate of employment at 60.4% – also near 50-year lows.
By Arkadiusz Sieron – Re-Blogged From Gold Eagle
Is Italy the new Greece? Read today’s article and find out what does the newest Italian turmoil imply for the gold market.
The recent days have been quite tumultuous in Italy. The turmoil started last week when the new government submitted its spending plans to the EU. The ruling coalition set Italy’s budget deficit at 2.4 percent of its GDP. The number is much higher than the current deficit which is set to be 1.5 percent of the GDP. The proposed difference between spending and revenue is also higher than 1.6 percent proposed by the country’s finance minister Giovanni Tria. So the number was above the expectations. Actually, it came as a shock, especially that the International Monetary Fund has projected it to fall to 0.9 per cent in 2019. Well, nobody expected the Italian inquisition.
Several countries and cities studied and tested a universal basic income (UBI). At first glance it looks like giveaway nonsense:
- Who pays for the giveaways?
- Does the UBI discourage work and self-improvement?
- How much price inflation does it create?
- How much additional unpayable debt will be created by the UBI?
- The UBI should be how large? If $1,000 per month per person is good, is $10,000 per month better? Which bureaucrat defines the size of the benefit?
- Does it apply to everyone? Adults only? Means tested? Only those who voted and paid taxes? Only those in good standing with the “thought police?”
By Michael Barnes – Re-Blogged From Liberty Headlines
A coalition of 30 free market policy groups has delivered a clear message to Congress: Don’t expand the $7,500 federal tax credit for purchasers of electric vehicles, the vast majority of which are extremely wealthy.
On its face, the electric vehicle subsidy is “misguided as a whole,” coalition signatories said in a Wednesday letter to Rep. Kevin Brady, chairman of the powerful House Ways and Means Committee.
‘Americans can make their own decisions about how to spend their money and what cars they want to drive…’
By Gary Christenson – Re-Blogged From Deviant Investor
The addictive behaviors of drug addicts are similar to the actions of a modern “Keynesian” economy addicted to “money printing” by central banks and fractional reserve banking.
From Psychology Today on Addiction:
“Addiction is a condition in which a person engages in use of a substance or in a behavior for which the rewarding effects proved a compelling incentive to repeatedly pursue the behavior despite detrimental consequences.”