Negative consequences of this unchecked spending

Sunday, January 10, 2021

(Don Boudreaux) Tweet George Will rightly condemns Josh Hawley and Ted Cruz for playing leading roles in unleashing Wednesday’s mob on Capitol Hill . A slice: The Trump-Hawley-Cruz insurrection against constitutional government will be an indelible stain on the nation.

Source: Some Non-Covid Links

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My intrepid Mercatus Center colleague Veronique de Rugy has some wishes for the New Year. A slice:

The negative consequences of this unchecked spending will be huge. The Congressional Budget Office, for instance, warned that an extension of unemployment bonuses and benefits creates disincentives to work and a slowdown of the economy. This extra spending also produces an ungodly level of debt, which academic research shows will ultimately slow economic growth. This means that future generations will both live in a slower-growth environment and face higher taxes to pay for today’s obscene spending. And this doesn’t even address the cultural distortions created by programs designed to pay people not to work.

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So get ready for more disincentives, higher taxes, and higher inflation.

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Twelve Benefits to New Hampshire Independence

Saturday, January 9, 2021

Originally published on The Liberty Block , the following is a guest post by Alu Axleman, which represents the personal opinions of the author, and not necessarily that of the Foundation. If New Hampshire were to leave the union and no longer be one of the ‘ Divided States ‘ of America, would our state be better off?

Source: Twelve Benefits to New Hampshire Independence

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This is a nice list of the benefits of secession!

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ADHOC: Alex’s last show … so sad … end of an era!

Friday, January 8, 2021

So long Alex.  I’ll miss you.

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‘It’s Easy Money’: Nigerian Scammer Laughs about Huge Sums Stolen from COVID Welfare Programs in Bombshell Interview – Foundation for Economic Education

Thursday, January 7, 2021

Government bureaucrats were caught flat-footed, and the flood of money being rushed out the door in the name of emergency meant more vulnerabilities than ever. It took many states more than six months to add verification requirements and partially stem the flow. Just to use one state as an example, Washington state usually identifies a few dozen fraudsters in a year—now, it has identified more than 122,000 since March.

‘It’s Easy Money’: Nigerian Scammer Laughs about Huge Sums Stolen from COVID Welfare Programs in Bombshell Interview – Foundation for Economic Education

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So besides it being a “bad” policy (i.e., sets up a counter productive incentive), it was “wasteful” (i.e., more went to fraud then went to real people).

Gooferment is immoral, ineffective, and inefficient. As well as untrustworthy.

So this result shouldn’t surprise anyone.

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Peter Navarro Releases “Art of the Steal” Report | Dan Bongino

Tuesday, January 5, 2021

Titled “The Art of the Steal,” the report is the sequel to a prior report of Navarro’s on election irregularities that alleged outright voter fraud, ballot mishandling, contestable process fouls, equal protection clause violations, voting machine irregularities, and significant statistical anomalies.

Peter Navarro Releases “Art of the Steal” Report | Dan Bongino

Guess this is like the autopsy of the American Republic. I doubt we will ever have a “fair” election ever again. If we have ever had one? Why won’t politicians and bureaucrats cheat anyway they can now since there is no penalty.

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Why Are U.S. Taxpayers Providing Public Pensions To Millionaire Members Of Congress?

Monday, January 4, 2021

Taxpayers provide pensions, generous pensions, to many millionaires who once worked in government. Not JUST those who were in Congress. (From Forbes) As the longest-serving member of Congress, Sen. Patrick Leahy (D-VT) would qualify for a yearly pension of $167,040 if he retired today.

Source: Why Are U.S. Taxpayers Providing Public Pensions To Millionaire Members Of Congress?

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Critics question the necessity of such a system. Why are U.S. taxpayers providing public pensions to millionaire members of Congress on top of a 401(k)-style plan? (The median net worth for a member recently exceeded $1.1 million.)

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Why indeed?

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20 striking findings from 2020 | Pew Research Center

Sunday, January 3, 2021

A large majority of U.S. adults (86%) say there is some kind of lesson or set of lessons for mankind to learn from the coronavirus outbreak, and about a third (35%) say these lessons were sent by God. In open-ended survey responses collected by the Center in the summer, Americans pointed to practical lessons, such as wearing a mask; personal lessons, such as remembering the importance of spending time with family and loved ones; and societal lessons, such as the need for universal health care. Other responses were political in nature, including criticisms of both major parties and concerns about the politicization of the pandemic.

20 striking findings from 2020 | Pew Research Center

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I agree about the “politicization of the pandemic”.

I, for one, am not sure that there is a “pandemic”, or an “epidemic”.

Evidence is that: (1) adjusting the number of “cycles” in PCR testing seems to dial up whatever result you want; and (2) no one has identified the “corona virus” yet.

Hell, there’s even a Conspiracy Theory” that “corona 19 virus” may be a vitamin defiiency. I have a lot of sympathy for this question about the #wuflu.

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MONEY: Bloomberg Intelligence Projects $50 Silver in 2021 | SchiffGold

Friday, January 1, 2021

DECEMBER 23, 2020  BY SCHIFFGOLD   0   0 Saxo Bank recently projected silver will soar to $50 an ounce in 2021, powered by loose monetary policy along with the push for “green energy.” Bloomberg Intelligence is now making a similar call, saying silver will be “the primary metal” benefiting from electrification and quantitative easing in 2021. Gold set a new record earlier this year and briefly traded above $2,000 an ounce. In a recent report, Bloomberg Intelligence senior commodity strategist Mike McGlone predicted silver will follow gold toward a record high of its own.

Bloomberg Intelligence Projects $50 Silver in 2021 | SchiffGold

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Clearly higher metal prices are predicting inflation from all the FED’s action to stimulate the economy.

The result will be a harder life for the “middle class” if there is any such left.

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California COVID-19 unemployment fraud may total $2 billion – Los Angeles Times

Thursday, December 31, 2020

A bank official said red flags have been issued on claims filed in the names of infants, children and centenarians, as well as people living in states not contiguous to California.

California COVID-19 unemployment fraud may total $2 billion – Los Angeles Times

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The Gooferment is immoral, ineffective, and inefficient. As well as untrustworthy.

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Levin: On Jan. 6, we learn whether our Constitution will hold – TheBlaze

Thursday, December 31, 2020

At no time did the framers even raise the possibility that governors, attorneys general, secretaries of state, election boards, administrators, etc., would play any significant role in the electoral process. Indeed, certain of those offices did not even exist. Moreover, as I said, the courts were rejected out of hand. Thus, such an important power was to be exercised exclusively by the state legislatures.

Levin: On Jan. 6, we learn whether our Constitution will hold – TheBlaze

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Great point!

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