One of the strongest characteristics of genius is the power of lighting its own fire.
John Foster
Chart of the Day: Healthcare Employee Costs Squeeze Take-Home Pay
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| Via the Independent Institute |
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| Via Voluntary Virtues Network |
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| Via Dollar Vigilante |
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| Via Being Classically Liberal |
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| Via Dollar Vigilante |
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| Via Being Classically Liberal |
It will take many more episodes before I have a more definitive opinion over the transition from moderator David Gregory to Chuck Todd. It does seem a touch more balanced and focused, with more viewpoints and somewhat less spin, although I still find some of the questioning predictable and annoying.
In particular, I was not happy to see Todd interview the crackpot socialist piece of work, Bernie Saunders from Vermont, who of course caucuses with the Democrats. The pretext is that Saunders is a potential rival for Hillary to her left (if that is even possible given her record); Saunders is technically not a Democrat and is not likely to organize nationwide. (Remember, Ron Paul ran on the Libertarian Party ticket for President in 1988 before running for the GOP nomination in 2008 and 2012.) Saunders is at best a fringe candidate with very little appeal beyond Vermont; allowing him a soapbox to spout off his red meat oligarchy, Koch brother, class warfare, zero-sum economic crap unchecked was inexcusable. I think he may be the most obnoxious, needs-to-get-his-ass-kicked guest I've seen in months--and Todd recently interviewed Obama.
Perky Economics and Bad Statistics
This is a basic Statistics 101 point, and I rebuked IPI in FB Corner a few weeks back--the difference between median vs. average amounts (income, pensions, etc.) It depends on the distribution of the dataset, but usually the average can be biased at one end (consider a tail of six-figure pensions vs. say, a clump of retirees at $15K; the average may exceed the median).
So Mark Perry in a recent post pushed a bullish case on net worth exceeding the pre-recession levels. Here's a related excerpt:
The Federal Reserve said Thursday that household wealth rose 1.7% in the second quarter to $81.5 trillion. Americans' stock and mutual fund portfolios gained $1 trillion. The value of their homes increased $230 billion.But here's a reality check, from the same source:
U.S. net worth has rebounded dramatically since the depths of the Great Recession. During the first quarter of 2009, as the stock market's losses deepened, net worth fell as low as $55.6 trillion — 19% below its pre-recession peak of $68.8 trillion.
But roughly 10% of households own about 80% of stocks. Middle-income Americans rely mainly on home equity to build wealth, and housing prices nationwide are still below their 2006 peak. A separate Fed report released last week illustrates the gap: Median household net worth at the end of last year was $81,200, a drop of 2% from 2010. The median is the halfway point between the highest and lowest figure. But average net worth, which is inflated by extremely large fortunes at the top, was $534,600 in 2013, roughly the same as in 2010.Facebook Corner
He's looking for the change in the couch.
(Reason). The bombings in Syria are a bad idea, as is the wider war against ISIS, for a host of reasons.
i read the article, and it's shaky on some points . . . 1.) a run-away, do nothing congress who hide from their duty to The People (first by groveling for money in exchange for betraying The People's trust, and second by neglecting the duties to go on vacation during a time when there was a definite call to participate in executive decisions) is the reason for no AUMF. 2.) No Sane Person is asking for or pretending this is an american led campaign - Iraqis and Kurds Must Stand Up For Themselves And Fight For Their Own Freedom. However, our previous military action and the current state of military air power in Iraq necessitate america doing the stand up thing and helping the Iraqi People. Iraqis fighting for and winning their own freedom from terror and their own sovereignty is The Very Thing Necessary to End the 'america is the reason for the hate' mentality in the middle east, and quite frankly may be the only thing that Can do that. 3.) Ignoring daesh (or i.s.i.s. or whatever) only worsens the problem, by allowing them to build strength. And despite russian calls to the u.n. these types of attacks will probably do more to stabilize the region (even if it means a resurgent assad & we All hate that) than degrade it. there is a humanitarian crisis on the ground, and complaining we did nothing before to help and then complaining that we are now helping is the same kind of 'head up your own ass just to prove you're a useless moron' logic that keeps congress from making any positive changes.
Claptrap! Didn't you hear/read the Fascist-in-Chief say that he doesn't need Congressional approval?And you're saying that American intervention is needed to combat a fighting force of 20-30K with no air force? Surrounding countries, including Iraq, have more than enough forces and resources to overwhelm ISIS. Finally, we have no authority to intervene, including for humanitarian reasons.
What is the libertarian stance on self defense? Just want to be clear about what all the ideologues here would do on a micro level.
Let's say you have a crazy religious guy in an alley, and he keeps threatening to kill you or beat you up. Do you just sit there and wait for the attack?
Thanks in advance for the clarification, libertarian purists
Except ISIS is not mugging us--they're in someone else's neighborhood and alley. You're welcome for the clarification.
(Bastiat Institute). "Before the fine, volunteer labor was common at wineries in the nearby Livermore Valley...He and his wife, Jill, are holding a going-out-of-business sale and plan to shut down before the end of the year. The fines represent more than a decade's worth of profits for the winery, which nets about $11,000 a year...'There's just no money left; they've taken everything,' he said."
It's Crony Big Winery using the club of the State to filter out the upstart competition--we have to stop those who get an invaluable free education of knowledge transfer in the winery business in exchange for their voluntary service!
(Reason). Ever since Right to Work gave Michigan employees the right to opt-out, some unions have been publishing ex-members' names on public "freeloaders" lists.
The true freeloaders are the crony union parasites protecting their monopolies courtesy of government protections.
(Independent Institute). Senior Fellow John Graham: "All of our increased compensation will be in the form of health benefits, which will not be better, but merely Obamacare-compliant. Isn’t it time American workers took home more of their compensation as wages, instead of paying it to health insurers?"
[Referring to reader comments based on monetary policies.] Crackpot commentaries. Healthcare has been increasing primarily because of intervention in the marketplace.
(National Review). Robert Kennedy Jr. would like to charge the Kochs with treason and send climate-change dissenters to jail. http://natl.re/1riw1ln
Fascists who want the State to intervene in the free market of ideas, instead of relying on persuasion, undermine the credibility of their position. The truth doesn't need some self-appointed economic (and scientific) illiterates to declare the debate over; one thing we can be sure of is a free market, not central planning, to provide relevant goods and services, whether or not the global climate is significantly impacted by human activities beyond natural causes.
Choose Life
Proposals
Political Cartoon
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| Courtesy of the original artist via Lew Rockwell |
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| Courtesy of Glenn McCoy via Patriot Post |
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| Courtesy of the original artist via Patriot Post |
Barry Manilow, "Somewhere in the Night". One of my favorite songs; I had the Reddy version before Manilow dressed it up in a gorgeous arrangement.
