GOVEROTRAGEOUS: Isn’t “price-gouging” satisfying the neediest?

Friday, July 31, 2015

http://www.foxnews.com/travel/2015/07/24/feds-open-probe-into-whether-airline-price-increased-in-wake-amtrak-crash/?intcmp=hplnws

AIRLINES
Feds probe possible price-gouging in wake of Amtrak crash
Published July 24, 2015FoxNews.com

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Transportation Secretary Anthony Foxx said Friday the government has opened a price-gouging investigation involving five airlines that allegedly raised airfares in the Northeast after a deadly Amtrak crash in Philadelphia in May disrupted rail service.

The Transportation Department released letters to five airlines — Delta, American, United, Southwest and JetBlue — seeking information on Friday.

“The idea that any business would seek to take advantage of stranded rail passengers in the wake of such a tragic event is unacceptable,” Foxx said.

DOT is exploring whether the price hikes violated federal regulations prohibiting airlines from engaging in unfair and deceptive practices and asked the airlines provide information of pricing and seat availability for a time period before and after the crash.

*** end quote ***

The Gooferment’s “price-gouging” is the free market allocating scarce resources to those who need it the most.

If the price is artificially low versus the demand, then there are shortages, queues, and rationing.

If the price is unacceptably high, then the consumer will seek alternatives — driving for one thing, the bus for another, or delay / change / cancel your trip. Perhaps even carpool. 

The free market will allocate based on price to the “neediest”.

That’s the “fairest” way to handle any allocation of a scarce resource; not with a Gooferment investigation.

And, doesn’t Amtrak belong to the Gooferment!

Argh!

Perhaps they are trying to distract us from their immoral, ineffective, and inefficient “running of a railroad” to the evil private airlines.

Argh squared!

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POLITICAL: HRC and politicians in general don’t know economics

Thursday, July 30, 2015

https://www.newsmax.com/Finance/StreetTalk/Hillary-Clinton-Capital-Gains-Tax-Scheme/2015/07/24/id/658840/

Hillary’s Inconceivably Stupid Capital-Gains Tax Scheme
By Larry Kudlow | Friday, 24 Jul 2015 09:44 PM

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So if investment is the problem, what does Hillary Clinton go out and do? She proposes jacking up the tax on investment. It’s almost inconceivably stupid. 

In her latest economic speech, Clinton proposes doubling the capital-gains tax rate on the profit made from asset sales (stocks, bonds, real estate) held a day less than one year up to two years. Right now, if you take a capital gain a day more than one year, you are taxed at a 20 percent rate. Actually, it’s 23.8 percent when you include the healthcare surtax. So under Clinton’s brilliant new play, you’d be taxed at 43.4 percent — the top individual cap-gains rate of 39.6 percent plus the 3.8 percent Obamacare surtax.

That means, instead of keeping 80 cents on the additional dollar of profit, you’d only keep 56.6 cents — a 30-percentage-point reduction in the take-home-pay reward for taking an extra dollar’s investment risk.
This will create a tall barrier to investment — what we don’t need. If you tax something more, you get less of it. 

*** end quote ***

I rant a lot about the corporate income tax. Only real people pay taxes. Corporations are merely fictions that hide the Gooferment’s taxes from sight. 

When you try to figure out how much tax you really pay, look at a can on beans and try to guess what percentage of the price is really hidden taxes. Don’t forget all the incremental taxes along the way from the bean field to the store. Argh!

And, who owns all the capital invested in stocks and bonds — pension funds.

So, the political class is robbing the taxpayers blind. 

Argh!

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GOLDBUG: Gold is on sale!

Wednesday, July 29, 2015

http://www.foxbusiness.com/markets/2015/07/24/gold-hits-5-12-year-low-set-for-worst-week-since-october/?intcmp=fnhpfbc

COMMODITIES
Gold Hits 5-1/2 Year Low, Set for Worst Week Since October
Published July 24, 2015
Reuters

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Gold has been hurt this year by expectations that the Federal Reserve is on track to raise interest rates for the first time in nearly a decade, boosting the opportunity cost of holding non-yielding bullion while lifting the dollar.

“In the short term, investor sentiment is what actually moves prices,” Capital Economics analyst Simona Gambarini said. “It’s now likely that the Fed will hike rates this year, most likely in September … (and) investors are already showing that in their positioning. They’re becoming more bearish on gold.”

*** end quote ***

Gold is on sale!

Do you think the FED is ever going to be able to raise rates until after then next Presidential election? If then! If a D wins, it’s more of the same deficit, debt, and welfare spending. If an R wins, then the economy might have a chance to to stage a real recovery. Only if one of the “crazies” — Rand Paul, Carly Florin, Scott Walker, or maybe Ted Cruz — wins.

One thing is for sure, the Gooferment can’t print any more gold.

And, unless you think the Chinese and Russians are crazy, explain their accumulation.

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INTERESTING: A new word hormesis & “hormegeddon”

Tuesday, July 28, 2015

http://dailyreckoning.com/prepare-for-hormegeddon/

Prepare For Hormegeddon
by Bill Bonner.
Posted Jul 20, 2015 

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Finally, in 1943, two scientists published a journal article about this phenomenon and gave it a name: “hormesis.” It is what happens when a small dose of something produces a favorable result, but if you increase the dosage, the results are a disaster.

*** and ***

Hormegeddon is my shorthand way of describing what happens when you have too much of a good thing in a public-policy context.

Economists describe the “too much of a good thing” phenomenon as “declining marginal utility.”

*** end quote ***

Seems like our immoral, ineffective, and inefficient Gooferment has had a “declining marginal utility” for a century.

The question is how do we prune it back? Or hack it back!

Argh!

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MONEY: CAT retail sales indicates global depression

Monday, July 27, 2015

https://www.lewrockwell.com/2015/07/tyler-durden/forget-recession/

Forget Recession: According To Caterpillar There Is A Full-Blown Global Depression
By Tyler Durden
Zero Hedge
July 23, 2015

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And the cherry on top: there has now been an unprecedented 31 consecutive months of CAT retail sales declines. This compares to “only” 19 during the near systemic collapse in 2008.

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SO why is the stock market not going down?

The FED and its Zero Interest Rate.

The politicians and bureaucrats continue to borrow and spend to expand the welfare / warfare state.

Like the old war movie — i forget which — “get small in your hole”.

Bad times are coming.

Sooner or later, some very ugly chickens will come home to roost.

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GOVEROTRAGEOUS: More Gooferment involvement in “education”

Sunday, July 26, 2015

https://www.lewrockwell.com/2015/07/gary-north/take-a-federal-nickle-get-the-federal-noose/

S-1177: Common Core Will Be Imposed on Private Schools That Get Fed Funds
By Gary North
The Tea Party Economist
July 20, 2015

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Senate bill 1177 is a bipartisan measure to federalize education, all in the name of preserving local control.

It will be imposed on charter schools and all private schools that accept a nickel of aid.

As I said 30 years ago, “If you take the government’s nickel, you also take its noose.”

*** end quote ***

This is the last thing that “We, The Sheeple” should permit.

There is no Constitutional authorization for this centralization.

Where in the enumerated powers is it?

Argh!

“Inasmuch as the Constitution was never signed, nor agreed to, by anybody, as a contract, and therefore never bound anybody, and is now binding upon nobody; and is, moreover, such an one as no people can ever hereafter be expected to consent to, except as they may be forced to do so at the point of the bayonet, it is perhaps of no importance what its true legal meaning, as a contract, is. Nevertheless, the writer thinks it proper to say that, in his opinion, the Constitution is no such instrument as it has generally been assumed to be; but that by false interpretations, and naked usurpations, the government has been made in practice a very widely, and almost wholly, different thing from what the Constitution itself purports to authorize. He has heretofore written much, and could write much more, to prove that such is the truth. But whether the Constitution really be one thing, or another, this much is certain – that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist.” Lysander Spooner (1808-1887), No Treason (1870) http://praxeology.net/LS-NT-6.htm#no.6 

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VETERANS: Did Trump / MCCain dustup unveil some hidden history?

Saturday, July 25, 2015

https://www.lewrockwell.com/2015/07/no_author/sen-tokyo-rose-r-az/

John McCain: When “Tokyo Rose” Ran for President
By Ron Unz
The Unz Review
July 20, 2015 

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One factual detail, routinely emphasized by his supporters, is his repeated claim that except for signing a single written statement very early in his captivity and also answering some questions by a visiting French newsman, he had staunchly refused any hint of collaboration with his captors, despite torture, solitary confinement, endless threats and beatings, and offers of rewards. Perhaps. But that original Counterpuncharticle provided the link to the purported text of one of McCain’s pro-Hanoi propaganda broadcasts as summarized in a 1969 UPI wire service story, and I have confirmed its authenticity by locating the resulting article that ran in Stars & Stripes at the same time. So if crucial portions of McCain’s account of his imprisonment are seemingly revealed to be self-serving fiction, how much of the rest can we believe? If his pro-Communist propaganda broadcasts were so notable that they even reached the news pages of one of America’s leading military publications, it seems quite plausible that they were as numerous, substantial, and frequent as his critics allege

When I later discussed these troubling matters with an eminent political scientist who has something of a military background, he emphasized that McCain’s history can only be understood in the context of his father, a top-ranking admiral who then served as commander of all American forces in the Pacific Theater, including our troops in Vietnam. Indeed, the alleged headline of the UPI wire story had been “PW [Prisoner of War] Songbird Is Pilot Son of Admiral,” highlighting that connection. Obviously, for reasons both of family loyalty and personal standing it would have been imperative for John McCain’s father and namesake to hush up the terrible scandal of having had his son serve as a leading collaborator and Communist propagandist during the war and his exalted rank gave him the power to do so. Furthermore, just a few years earlier the elder McCain had himself performed an extremely valuable service for America’s political elites, organizing the official board of inquiry that whitewashed the potentially devastating “Liberty Incident,” with its hundreds of dead and wounded American servicemen, so he certainly had some powerful political chits he could call in.

Placed in this context, John McCain’s tales of torture make perfect sense. If he had indeed spent almost the entire war eagerly broadcasting Communist propaganda in exchange for favored treatment, there would have been stories about this circulating in private, and fears that these tales might eventually reach the newspaper headlines, perhaps backed by the hard evidence of audio and video tapes. An effective strategy for preempting this danger would be to concoct lurid tales of personal suffering and then promote them in the media, quickly establishing McCain as the highest profile victim of torture among America’s returned POWs, an effort rendered credible by the fact that many American POWs had indeed suffered torture.

*** end quote ***

Has “history” been “air brushed” in McCain’s favor?

Perhaps the exchange with Trump will pull down the “facade”!

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